CEO Insights Magazine

The role of Technology officers has drastically transformed, especially in the wake of the changes brought by the 21st century and the shifting impact of the pandemic. The skills and traits required for tech teams have undergone a dramatic shift, with IT evolving from a mere facilitation infrastructure to a cornerstone enabling business continuity in challenging environments. CTOs persist as growth hackers and catalysts for tech transformation, but they must also possess a keen understanding of business operations and strategy, complemented by cross-industry knowledge. While we unveil the stories of prominent and successful modern-day CTOs, we bring to you the journey of Rajan K Upadhyay.

With an impressive two-decade plus industry experience, the distinguished career of Rajan has been marked by pioneering roles in the technology landscape. Hailing from India, he has actively contributed to the growth of early-stage startups, notably as one of the initial tech members at Jabong. Subsequently, his journey led to impactful roles in global players like eBay, where he played a key part in the success of the Global Shipment Program, achieving remarkable milestones.

He spearheaded the e-Commerce endeavours for the Eicher Motors Group, making substantial contributions to Good Earth and co-founding Nicobar Design Studio. Notably, his global perspective expanded when he joined DHL, where he established multiple centers of excellence, focusing on cutting-edge technologies such as artificial intelligence, robotic process automation, and blockchain.

His innovative spirit continued to shine, leading DHL's Blockchain Center of Excellence from the company's headquarters in Germany. After eight years abroad, the call to contribute to the technological landscape of India

beckoned him back. In September 2023, he took on the role of Chief Technology Officer at Vendiman. Let’s get to know more about him as leader. Here are excerpts from an exclusive interview.

What is the motivation that fuels your daily routines? What is your success mantra?
My motivation comes from the dynamic changes in the landscape. Micro retail in India offers vast opportunities with high market growth. The advanced tech scene here, especially in digital spaces like UPI and cashless systems, sets India apart globally. The unique consumer expectations and convenience make the challenge even more exciting. The potential for market growth combined with a robust tech landscape drew me back to India. Being part of the ongoing digital transformation is not just fulfilling but also aligns perfectly with my passion for innovation and growth.

In my 23 years of industry experience, authenticity and focus on transformation have been my success mantra. I believe in keeping things truthful and visionary while staying grounded.

What is your take on the dynamic technology trends in the sector and how would you describe its interventions in your organization?
At Vendiman, we're reshaping micro retail with cutting-edge tech like touch-based interfaces and computer vision. Our machines are now self managed, offering a seamless experience. We're staying ahead by embracing trends like deep learning and IoT, ensuring our legacy transforms digitally. This journey involves maintaining, transforming, and future-proofing our approach to lead the market.

As someone deeply involved in hands-on roles with new-gen centers at DHL, I've closely observed the transformative journey of technology. The world is in the midst of a profound digital transformation, marked by the evolution of technologies like computer vision, advanced chat

bots, and disruptive forces such as blockchain and robotic process automation. Reflecting on the last five to six years, the differences are striking, like computer vision has matured, chatbots like ChatGPT have advanced, and blockchain is challenging governance & enterprise practices. As I pursue my DBA in 6G and telecom, envisioning terabyte-per-second speeds by 2030,the imminent transformation highlights the need for businesses to adapt processes for enhanced communication. Vendiman is strategically aligning itself to navigate these changes, ensuring sustainability, preserving our legacy, and retaining a pivotal role in the evolving micro retail landscape.

Tell us about your leadership approach. What are the guidelines or methodologies you follow as a leader?
My leadership focuses on two key principles authenticity and transformation. For regular business processes, we keep things simple and lean using agile methods like Scrum, ensuring clear communication and small, manageable goals every two to three weeks. In the realm of digital transformation, we embrace constant cycles of innovation. We believe in failing fast, learning quickly, and swiftly deciding whether to pivot or progress. This approach allows us to experiment, assess market potential, and move from pilot to commercialization efficiently. The key is to stay lean, authentic, and always ready for transformative growth.

What is the future destination you are heading towards?
In the next five years, my vision for Vendiman is to transition from vending solutions to a comprehensive smart micro retail model. This includes vending, operation, platform as a service, and software as a service. We aim to remain prominent not just in training but also in the evolving smart micro retail sector.

Rajan K Upadhyay, CTO, Vendiman
Rajan enjoys playing with his toy poodle and interviewing people on the streets to understand the societal mindset, situation and condition. In his professional life, he has garnered recognition with several patents in cloud computing and blockchain, earning him the prestigious Global Business Service Award from DHL. Boasting a multitude of accolades, including nine patents in blockchain technology, Rajan's diverse expertise stands out as truly remarkable.