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In an interview with the TechGraph editorial team, Rajat Singhania, Founder & CVO of Hylyt, SocioRAC said, “The pandemic has created a need for the data management sector to grow up in a significant way.”
Read complete interview:
TechGraph: Before we start the interview, can you let our readers know more about HyLyt by SocioRAC?
Rajat Singhania: SocioRAC is a technology & business communication startup that provides patented solutions for smarter management of digital content which can be through notes, chats, media, and all files.
HyLyt is an Indian homegrown enterprise app that enables users to smartly save and manage all important organizational data across multiple apps and sources in one place. Centralized control over who can use the data and how they can use it. HyLyt app is available in Mobile & Desktop versions. The users can opt for Free, Premium & Enterprise plans.
TechGraph: How do you feel HyLyt by SocioRAC stands out from other big players who are already in this business?
Rajat Singhania: There is no direct competition as such but various products are doing some part of what we do. The nearest similar products could be Microsoft Teams and Slack as they are business collaboration solutions that are widely used but on the Unified Information Management side, we are unique and a great frontend for all cloud storage solutions.
There could be some common ground with Evernote, etc too. We are here to add value and enrich users of these platforms and not compete with them thus giving us a ready pool of customers we can target. We enrich and make the data on these platforms more valuable for the users.
HyLyt positions not to compete with these products but to add value to the customers using these products to target the adoption of HyLyt.
TechGraph: Could you please walk us through the key features offered by HyLyt by SocioRAC?
Rajat Singhania: HyLyt helps to smartly save data from anywhere instantly, structure it and recall it with ease, and collaborate with teams remotely while protecting your intellectual property.
“HyLyt, a patented product offers a unique value to both individuals and businesses alike.
Leveraging digital technology, the app aims to systemize and categorize the enormous amount of unstructured data generated by users in each platform used by them and act as a single source for storing relevant sensitive information in a highly protected way. It aims to generate 2.5 billion man-hours of additional productive time by 2025 thus leveraging digital technology to help enterprises to manage their digital data overload.
The unique focus of HyLytis towards smarter data management has evolved the platform in a very user-friendly way. One of the key features of HyLyt is secured communication; note-making and sharing are in one place. One can share files (images, video, and all others).
One can create and schedule meetings in the app only, reducing the task of sharing meeting details. One of the best options on HyLyt is the ability to have password-protected chats and the ability to prevent others from sharing and forwarding your messages.
TechGraph: What is your view on the role of technology in redefining the IT sector amid the outbreak of the covid pandemic?
Rajat Singhania: The COVID-19 has brought a lot of changes in the way companies are doing business. According to a new McKinsey Global Survey of executives, the companies have accelerated the digitization of their customer and supply-chain interactions and their internal operations by three to four years. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.
Many companies are reinventing themselves and changing their strategies and policies. Many tech solutions companies have seen large-scale adoption by people & companies.
TechGraph: Can you elaborate on the SocioRAC plans and innovations that you are looking at from a tech perspective?
Rajat Singhania: We at HyLyt have grand plans as we move forward. Some of the key things we are looking at are, enabling voice-activated usage of HyLyt, adding Artificial Intelligence to enable even higher productivity, and Blockchain for increased data security and authenticity.
TechGraph: Do you think tech-powered enterprise data management players can address the technology gap in India?
Rajat Singhania: Globally, we have seen that as manpower becomes increasingly expensive and difficult to procure, manage, etc. Businesses tend to invest more in technology to make the business processes more efficient and less human-dependent.
India as a developing country has an abundance of manpower and not enough monetary strength has been growing based on manpower efforts. India needs to progress from being a third world to a superpower that could only happen if businesses, systems, and processes, also grow and come to power with global standards and global methods followed in other countries.
For that, we have to reduce our dependence on manpower and more tech-driven processes. There is a huge gap and opportunity today in India, which can be addressed by various methods and a significant one being enterprise data management.
Since we all agree, data is a significant driving force for business sustainability and growth, using it effectively depends on human intervention and human error. It is a thing needed to help us leverage this opportunity.
TechGraph: How exactly does the technology work at HyLyt by SocioRAC?
Rajat Singhania: All data on HyLyt has end-to-end encryption. Even at the device level, it can be decrypted and viewed through HyLyt only. You can host the entire data on a server of your choice anywhere in the World. HyLyt gives you patent-pending options to restrict people from sharing and forwarding information received by them and to remove all information from any user once he/ she leaves the organization or to even transfer to a new user who joins.
Searching Data with HyLyt just got easier as the app unveiled its technology update through which it can optimize its search options and converge similar information based on multiple conditions on a real-time basis.
The latest addition to its features allows HyLyt to be one of its kinds of app that can conduct searches across different file formats on fourteen different search criteria.
This global smarter information management and collaboration platform offers multiple filters on information to create customized views that help towards business information supervision and decision making in real-time without time lag and enables users to operate through a single click.
TechGraph: Why do you think the Data management sector witnessed a strong rebound in H2FY2021?
Rajat Singhania: With the pandemic, people were working remotely resulting in a lot of tracking and hence a lot of information getting generated. If we have a lot of information, raw information, efficient tools are required for data management, analytics, insights thus providing value to customers. The pandemic has created a need for the data management sector to grow up in a significant way.
TechGraph: What is the roadmap for HyLyt by SocioRAC going forward?
Rajat Singhania: We aim to be the go-to product for people when they think about information management. While most products work vertically, we are working horizontally, which is our USP.
This gives us a unique place in the minds of the consumer. About our roadmap, we would be adding AI, location, and voice-based functions to make the product even more useful and powerful for users.