32nd Annual Report
2021-22
Unleashing Potential
Banking, Financial Services & Insurance
Over the past year we’ve worked closely with clients to lead the next wave of technology driven transformation across Banking, Financial Services, and Insurance (BFSI). We’ve imagined and engineered new products, platforms and digital business models that are fundamentally changing the consumer experience across BFSI. We’ve modernized the core systems and processes that are fueling more efficient operations...
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As the industry pivots in response to global economic trends, we are uniquely positioned to assist financial institutions to modernize and streamline operations to reduce costs and improve customer experiences. Similarly, we continue to be at the forefront of innovation as we work with new entrants and incumbents alike to develop innovative, technology-enabled financial services.
Jaideep Dhok
SVP and General Manager, BFSI
Healthcare & Life Sciences
No industry was more disrupted over recent years than Healthcare and Life Sciences. Although the challenges exposed limitations, they also revealed the tremendous potential of the industry. As organizations learned that rapid innovation through the application of technology can deliver tangible results, regulatory agencies are becoming more accommodating with the use of technology to improve patient outcomes and reduce...
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Technology is transforming every segment of the industry and recent events have exposed the potential of technology in discovery, patient care, improving user experiences and reducing costs. Persistent is proud to partner with our clients to apply technology to improve patient lives and reduce the cost of care — increasing accessibility to underserved populations.
Vaibhav Srivastava
SVP, Healthcare & Life Sciences
Software & Hi-tech
Software leaders face an array of complex challenges as the industry shifts to highly innovative subscription business models anchored on cloud. Surrounding these models are Digital Engineering-led opportunities for advanced analytics, benefits of automation, rising customer expectations and the growing demand for skilled employees who can deliver on transformation agendas. Leading organizations...
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New commercial models, AI and digital technologies are raising the bar for all software companies. With growth as a powerful predictor of success, software leaders must navigate a myriad of challenges as they prepare mature products for the future while capturing new opportunities.
Karthik Balasubramanian
SVP, Software and Hi-Tech Industry
Telecom & Media
Over the past two years the Telecom and Media industry has been rapidly transforming the ways we live, work, and communicate as a society. Yet the evolutionary benefits of connectivity speed and disruption from 5G and the evolving availability of technologies such as cloud, automation, and AI have given way to execution hurdles along with new competitive threats. Keeping pace with such rapid...
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In an industry that will be defined by organizations who act now to seize untapped growth, Persistent brings the right combination of software engineering and infrastructure technology expertise.
We help organizations to capture the benefits of telco cloud, deploy network automation and build software-based experiences across 5G and the edge.
Kuljesh Puri
SVP & GM, Communications, Media
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Over the past year we’ve worked closely with clients to lead the next wave of technology driven transformation across Banking, Financial Services, and Insurance (BFSI). We’ve imagined and engineered new products, platforms and digital business models that are fundamentally changing the consumer experience across BFSI. We’ve modernized the core systems and processes that are fueling more efficient operations in some of the world’s leading financial institutions through the application of cloud, data, automation, machine learning and artificial intelligence. With the global economy in a state of change, financial institutions are looking for partners to enable agility and innovation at scale to allow them to quickly serve evolving customer needs. In this environment, our Digital Engineering expertise has helped our clients not only survive, but thrive as well.
Digital Engineering in Action
Modernizing for Competitive Differentiation
Incumbent institutions have large customer bases and resources to invest. Yet they are hamstrung by legacy systems, processes and complacency. Leaders implement an IT strategy that enables them not just to react to new entrants but also to use their customer data to deliver new services.
Building a Cloud-native Business
Increasingly institutions are utilizing cloud to reduce costs, improve customer experience and build in months what previously took years. Cloud and subscription-based technologies have significantly reduced the technology barriers of entry into the financial services sector.
Future-proofing the Digital Business Strategy
Modernization, like product innovation, is a continuous journey that enables institutions to be agile in responding to shifting customer expectations. Industry leaders are continuosly modernizing systems and processes, enabling them to drive transformational innovation like open banking.
ANZ Bank builds an innovative digital currency solution for the MAS challenge
We’re delighted to work with Persistent on the Global CBDC challenge. The market-leading expertise of the delivery team made it possible to prototype our comprehensive National Integrated CBDC Ecosystem (NICE) in just a few weeks.
Balaji Natarajan
Head, Payments & Cash Management Asia Transaction Banking
ANZ Bank and Persistent built a National Integrated CBDC Ecosystem (NICE) solution for the Monetary Authority of Singapore (MAS) Global Central Bank Digital Currency Challenge, which provides citizens access to digital currency wallets authenticated with their National Digital ID.
40%
Reduced time to market
Modernizing Policy Admin
Developed an insurance policy administration system that provides greater efficiency for agents, accelerates new product development and ensures regulatory compliance.
Automated Loan Origination
85%
Reduced decision time
We engineered an integrated loan platform that automates loan origination for over $50 Billion in annual lending and enables the bank to launch new loan products in just eight weeks.
The Way Forward
Financial institutions must accelerate their enterprise modernization efforts to deliver individualized omnichannel experiences at scale that enable customers to manage their financial futures with confidence. The only way this can be achieved is by using technology to transform all functions and processes, enabling real-time bespoke customer experiences powered by machine learning and artificial intelligence. Current economic conditions only elevate the urgency.
No industry was more disrupted over recent years than Healthcare and Life Sciences. Although the challenges exposed limitations, they also revealed the tremendous potential of the industry. As organizations learned that rapid innovation through the application of technology can deliver tangible results, regulatory agencies are becoming more accommodating with the use of technology to improve patient outcomes and reduce the cost of care. This is accelerating the utilization of technology across the industry and demand for our Digital Engineering expertise to help organizations usher in a new era of technology-driven medicine. Over the past year, we have helped our clients across all segments of the industry utilize technology to deliver critical innovations.
Digital Engineering in Action
Modernizing the Patient Experience
The consumerization of healthcare has shaped patient expectations of digital experience, price transparency and simplifying access to care. Leaders are exceeding those expectations by providing digital health platforms to engage and care for patients in new ways.
Tech-enabled Diagnostics and Precision Medicine
The explosion of traditional and emerging datasets has been revolutionary for the advancement of diagnostics and individualized medicine. Data-driven discovery requires a regulatory-compliant, cloud-based analytics platform to realize and propagate insights from clinical research.
Building the Health Platforms of Tomorrow
Digital platforms are transforming how the industry operates, from distributed clinical trials to patient engagement and care delivery. Interoperability and standards development will accelerate the proliferation of digital platforms across all segments of the industry.
Technologies enable home care via a Digital Health Platform
QUANTA, a dialysis technology business, puts people at the heart of its approach, enabling access to the highest-quality shared and self-care therapies. Persistent is helping build a digital health portal for clinicians and patients, enabling home care options for dialysis patients.
We have partnered with Persistent to launch our offering in the US, and they have been instrumental in getting our Digital Health offering off the ground — including an improved user experience for both patients and practitioners.
Dr Paul Komenda
Chief Medical Officer
Improving Patient Access
75%
Reduced referral time
Implemented an integrated digital front door, nurse triage and patient referral system to simplify access and reduce patient churn at a leading pediatric hospital.
Automating Clinical Trials
80%
Reduced manual effort
Automated the end-to-end clinical trial data review process to deliver a 40% reduction in discrepancy resolutions through standardized workflows.
The Way Forward
Healthcare and Life Sciences organizations are accelerating their use of technology to deliver patient-centered care at lower costs. The advancement of interoperability initiatives and implementation of industry standards will encourage innovation through the systematic use of machine learning and artificial intelligence. At the same time, organizations will need to modernize their legacy systems, unlocking data to improve the patient experience and reduce costs.
Software leaders face an array of complex challenges as the industry shifts to highly innovative subscription business models anchored on cloud. Surrounding these models are Digital Engineering-led opportunities for advanced analytics, benefits of automation, rising customer expectations and the growing demand for skilled employees who can deliver on transformation agendas. Leading organizations are building detailed strategies and product roadmaps to take advantage of new growth opportunities while transitioning mature software products for the future. All this comes against the backdrop of margin pressure, evolving product cost structures and fierce competition. The winners are finding ways to stay agile and execute with speed.
Digital Engineering in Action
Migrating products to platforms and marketplaces
The one-size-fits-all approach is gone. Engineers are leveraging ecosystems to tailor products, minimize investments and explore new models. Products are architected modularly with third parties invited to bring innovation via marketplaces to meet the needs of diverse customers.
Accelerating cloud-native product modernization
Modernization to the cloud with microservices and APIs enables product owners to accelerate innovation and improve cost and operational control. With modernization efforts taking several forms, organizations are rapidly benefiting from cloud scalability, automation and security.
Bringing innovation and cost savings to mature products
Mature products can hinder innovation and become costly to maintain as teams struggle with technical debt and uneven code quality. Teams require focus, discipline and tools to automate quality engineering and identify technical debt leading to quality and security issues.
Operative engineers next-generation media advertising platform
Operative is at the center of the shift to open ad platforms that prepare organizations for digital and linear convergence. Operative partnered with Persistent to build a cloud-native and API-first ad management platform that enables publishers to personalize the advertising experience.
The pandemic has forced an acceleration in the media industry. With the help of Persistent we were able to scale quickly and bring the right set of talent to be able to engineer the innovation that media companies needed.
Glen Ceniza
Chief Technology Officer
SaaS Transition
45%
Cost reduction
Loyalty management software leader teamed with Persistent to build a multitenant API-first architecture leveraging cloud-native functionality to increase innovation speed while reducing costs.
Software Modernization
1.2 M
Shipments per day
Logistics company leader partnered with Persistent to modernize its architecture with microservices as part of a journey to provide improved scalability, extensibility, and maintainability.
The Way Forward
The last two years have accelerated the long-awaited digital transformation journey for software organizations. As we look to 2022, innovation will increasingly need to be prioritized against global economic uncertainty. It will be important that organizations select investments that maximize growth while taking advantage of opportunities that balance the agility and cost savings advantages of the cloud.
Over the past two years the Telecom and Media industry has been rapidly transforming the ways we live, work, and communicate as a society. Yet the evolutionary benefits of connectivity speed and disruption from 5G and the evolving availability of technologies such as cloud, automation, and AI have given way to execution hurdles along with new competitive threats. Keeping pace with such rapid transformation is both a challenge and an opportunity for business leaders. We have worked with our clients throughout the evolutionary lifecycle that are embracing strategic and forward-looking business models and the foundational infrastructure updates needed to drive change. These organizations have become world-class at adapting and driving new value with agility.
Digital Engineering in Action
Diversifying beyond connectivity
Operators are looking beyond commoditized connectivity, opting instead for new growth anchored around data, digital services and marketplaces. Outperformers are leveraging technology skills, ecosystem relationships and modern IT and network infrastructure to accelerate their journeys.
Unlocking the value of 5G
5G is not just about technology. It is about building new capabilities to attract industries, enterprises and developers. Leading operators are facilitating the development of 5G-enabled experiences and ecosystem partnerships to capture value.
Capturing the benefit of cloud
Cloudifying the network improves agility, lowers operating costs and accelerates new services. On a practical level, it’s no longer optional. Operators are building partnerships with hyperscalers to host cloud-native network functions and bring new applications to customers.
Cisco drives innovation to improve customer experience
Cisco partnered with Persistent to screen feasibility and build engineering innovation prototypes across their product offerings for increased solution efficacy, productivity, and customer experience. An agile-based rapid prototyping model was adopted to accelerate development and bring new applications and prototypes to market.
As we evolve our innovation model to take concepts through to reality, we partnered with Persistent to help us make that happen. Persistent has been a partner from the start to help us define the processes, bring technical talent to the programs and execute well day-to-day. Persistent has brought market-leading expertise and flexibility to help us improve the customer experience.
Koree Mires
Director, Global Technical Assistance Centers Innovation-Automation & Disruption
Digital Transformation
CX ↑
with multi-channel availability
Digital transformation for a large U.S. telco. Improved CX with a better product experience created a multilayer segmentation for simpler operations and improved retention rate with better bundling.
Service Assurance
50%
Reduction in time-to-market
Provided a product engineering Center of Excellence (COE) for development, QA and professional services for a network service assurance provider.
The Way Forward
The next generation of Telecom and Media providers will be defined by those who take a holistic approach to transformation. This means developing innovative digital solutions that redefine the customer experience, capitalize on digital convergence and help organizations launch new businesses.
Unleashing the Potential of Our Clients
As trusted collaborators in the transformation agendas of our clients, we are working to engineer, deploy and integrate differentiating technologies that are driving industry innovation and generating new business value.
We help organizations across industries optimize cash, reduce costs and unlock growth through enhanced customer experiences and services. Our technology expertise and partner ecosystems enable our clients to unleash new business models. We are proud to be a Digital Engineering and Enterprise Modernization partner for global market leaders, including 14 of the 30 most innovative US companies, 8 of the 10 largest banks in the US and India, and numerous healthcare innovators.
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FY22 Performance Highlights
Our Expertise
Our Clients
Our People
Our Ecosystem
Our Communities
Environmental, Social and Governance
Persistent Foundation
Awards & Recognition
Home
FY22 Performance Highlights
Our Expertise
Our Clients
Our People
Our Ecosystem
Our Communities
Environmental, Social and Governance
Persistent Foundation
Awards & Recognition
32nd Annual Report 2021-22
32nd Annual Report 2021-22
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32nd Annual Report 2021-22
32nd Annual Report 2021-22
Download Report