Technology (Page 50)

• Saw opportunity to deliver better Customer&nbsp, Lifecycle Management via technical
• Usually believed when you do what you need, in proper manner, money will come

One of the most sought-after jobs for fresh graduates in the 2000s was in contact centers. Malaysia – KL, in particular – had become a regional hub for user support solutions, taking advantage of our fairly high English ability, technological advancements and business facilities.

Like all things tech, call centres have evolved significantly over the past several decades, transitioning from traditional telephone- based support to powerful, technology- driven contact centres.

Business process outsourcing ( BPO ) is the current branch of business process outsourcing in Malaysia, which is growing in Malaysia thanks to the same factors that fueled call centers almost 20 years ago: the country’s strategic investments in digital infrastructure and a highly skilled, multilingual talent pool, beyond just English. The government’s supportive policies and initiatives have likewise played a vital role in this transformation.

Tech businessman Raymond Davadass has been in the forefront of the development of this sector over the past 20 plus years. He is the founder of Daythree Digital Bhd, a company involved in the global business services ( GBS ) and customer lifecycle&nbsp, management ( CX Management ).

Under his leadership, Daythree has slowly expanded its offerings while utilizing the power of AI to streamline operations and increase customer performance.

Daythree went people last year, quick- forwarding its previously rapid growth. Davadass, whose remarkable salt and pepper moustache has become a personal look, is managing director.

Davadass was eager to study law, like many other young people of his creation in the 1990s, but he made a wrong turn when his three-month accounting trial course turned out to be more exciting. On entering the workforce, the Rawang local spent his early years in PwC, and left in 1997 to devote eight years working in Malaysia’s next- emerging technology scene.

He quotes his late father as saying,” That close affinity to technology has always been there, things I’ve always been fascinated with,” explaining how he came to terms with the transition and how he explained it to technical. He credits his late father for encouraging him to get extra-curricular lessons in BASIC software, deep II, and Lotus 123.

After working for others, Davadass, equipped with tech industry experience, accounting skills and a master’s degree in business administration, was ready to take the plunge.

” Between 2006 and mid 2009, I provided business consulting services. But that first attempt at being an entrepreneur definitely came with a lot of learning, I suppose. He said that some of the projects I was working on included how to finance technology.

He became the CEO of Kannal Solutions Sdn Bhd ( a subsidiary of Kannaltec Bhd, which was then listed on the ACE Market ). He joined the business in June 2009 and is now a director of Kannal Solutions Sdn Bhd.

The corporate journey continued for seven years before Davadass was given the choice to buy Kannal Solutions in 2016, which he chose, and which he did as a result of his second successful venture.

He changed the company from telemarketing, which was a commodity, low margin BPO space, to concentrate on the higher margin Customer Lifecyle Management and Digital Technologies segment. He changed the name to Daythree.

The new focus paid off. ” I started Daythree in April 2016 with a small team, and now here we are with almost 2, 000 staff ( 500 permanent and 1, 400 contract who enjoy full staff benefits as well )”. It recently reported Q1 24 revenue of US$ 5.03 million ( RM23.7 million ) with US$ 500, 000 ( RM2.38 million ) in profit before tax. Since Daythree was listed in July 2023, there is no comparison of the coresponding period.

a leader in digital CX; aspirations

The growth of Daythree is a testament to the evolution of the BPO industry, which has come a long way from its call center roots ( many of us will recall calling 755 2525 for pizza ) and has undergone numerous iterations to now become Global Business Services ( GBS ). The world today allows for multiple ways to reach the customer, from customers who only interact with service providers via phone. And vice versa, and with AI agents on the horizon! However, the challenge for businesses like Daythree is n’t just combining all the data in relation to a particular transaction with real-world storytelling.

” Before the GBS term, contact centres were part of business process outsourcing. However, if the focus of BPO was once on cost, which is why call centers were once so popular in India and the Philippines, there is now a shift to value. It is not just people behind a desk, but better access to quality technology. It also means managing the entire service interaction, supported by technology. And a lot of it”! Davadass says.

With the ( somewhat mouthful ) tagline” Customer Experience Lifecycle Management is our Forte.. with its ambitions of being a Digital CX Leader. &nbsp, Delivering Insights &amp, Innovation is our Differentiator”. Daythree’s service to the market is delivered through three digital tools, all developed in- house.

• Faith is a platform designed to improve employee engagement by providing tools for streamlining scheduling, automating payroll processes, facilitating communication, and enhancing performance feedback.
• Customer relationship management is integrated with robotic process automation ( RPA ).
• Saige, which functions as the business intelligence tool for the organization, gathers real-time data from each customer interaction and stores it on a unified analytics platform. This allows for analysis, interpretation, and recommendations for improvement based on the collected data.

Davadass chose to build his own solutions, even though it would have been simple to purchase off-the-shelf solutions to shorten its time to market. We are the first to notice the gaps in the processes that cause consumer frustration because we manage customer front-end processes for a living.  Very frequently we see agents being lacked the necessary digital tools to get the data and information they need to make quick decisions. This resulted in us seeing the value of expanding the capabilities at Daythree and bringing an improved CX to the market, explains Davadass.

” We are on a relentless search to incorporate technology into every aspect of the business,” he continues. ” I need to be able to do more with less, and that is Daythree’s edge. Malaysia’s other advantage is that we have people who can speak 53 different languages and dialects. At Daythree alone, its 15 languages. India and the Philippines cannot compete with this in any way. Although, these days, less people call in and the focus is more on doing things via chat. One agent can manage four conversations at once, which is a more effective use of my resources.

Not just Daythree makes the most of Malaysia’s advantages as a BPO hub. ByteDance, which runs TikTok and AliBaba, are two notable examples of global tech companies that have tapped these resources. Both companies began with small teams, and over the years, ByteDance’s number has soared to over 4,000 in just four years.

AI or not, human touch will always be needed

According to the joke, Davadass is the last person to worry that robots will eventually rule the world because of how practical and optimistic she is about the future. ” A huge challenge now is generative AI, in the sense that people are concerned about how it will change things”, he says thoughtfully. I firmly believe that more transactional work will be handled by technology, so if you do n’t upskill now, you’ll be left behind. In our industry, we still need that human touch, and I believe we always will. In some situations, AI can perform the job, but in others, the client needs to experience genuine empathy. You need a human right now to find that balance.

Going from founding a tech company in 2016 and getting it listed in 2023 is an impressive feat, but success did n’t necessarily come easy for Davadass. ” I bootstrapped the business”, he laughs.

No banks wanted to lend money to him, and the early stages of the process were challenging. However, Malaysia Digital Economy Corporation ( MDEC ) assisted him in getting assistance. ” Through GAIN and many of their other programs, their support has been instrumental in guiding us in our growth journey”, he acknowledges. They have helped us gain brand visibility in the market where we do business, both regionally and globally, by exposing us on various platforms and forums, including business missions. This has helped us open new markets and&nbsp, find new partners. They have also offered advice and assistance in assisting us in developing our exclusive digital tools.

As the pandemic hit in 2020, &nbsp, Davadass realised that he&nbsp, had hit a glass ceiling. The realization hit in those early difficult days of the pandemic that Daythree could n’t be an entrepreneur-driven company any more. I needed money and adopt a more professional approach in order to grow. Hence our IPO journey started in 2020 itself, and we got listed in July 2023″, he said.

Relinquishing control of the company born from an idea you’ve had for many years is n’t easy, but in failing an an entrepreneur once before, Davadass, who owns 38 % of Daythree, was able to approach the entire process with a more open mindset: the benefits were very clear and fit into his plan for&nbsp, Daythree’s growth. Before the IPO, I lost a very big deal because we were n’t “big” enough even though we were technically more than qualified. Because I understood that this business was more than just about me, I had to go through with the IPO. It’s not been too long ( 10 months since listing ), but the difference is very clear – the pipelines I am able to build, and with so many new doors opening. When you can be a part of a much bigger pie, why fight for control over a small pie?

With the experience he has acquired, and looking back, would he have done anything differently? Davadass smiles. ” I do n’t know. There are no decisions I regret. In its own time, everything happened. If I’d done the IPO 10 years ago, I would be a different person today, for example. I think of myself as an accidental entrepreneur, the one who’s always taken the road less travelled– even though as an accountant you’re trained not to do that”, he quips.

His business and life lessons apply to both his business and life lessons. The pillar of doing business for me has always been integrity; I’ve never been one to chase profits. When do you need to, when do you need it, and in the right way, the money will arrive, in my opinion. Being sincere has always paid off, and putting that front and center means that money will come. I also believe humility is critical”.

The three words used a lot in the company are’ Alive’,’ Blessed and ‘ Grateful’.

Davadass looks outside his large office windows, and smiles. I’ve heard this advice to budding businesspeople:” Go with your gut, back it up with as much information as possible, and always be open about what you stand for.”

Continue Reading