Congratulations to our K2 customer Reliance Jio on Facebook’s recent $5.7 billion investment! This investment offers Jio the exciting opportunity to help fuel economic and digital growth throughout India.
K2 has the privilege of working with Reliance Jio to enable them to expand services across India and gain a strong competitive edge in the fast-paced, high-growth telecommunications market.
Facebook’s investment in Jio
In a short period of time, Reliance Jio has become the largest telecom operator in India. Jio disrupted the industry in 2016 by offering free voice calls for 6 months to new subscribers over its solely 4G network. Today, it is the world’s third-largest network operator with over 388 million subscribers.
Facebook’s $5.7 billion investment in the company comes at a time of significant digital change and transformation throughout India. According to a statement from Facebook:
“This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country. In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways. We are committed to connecting more people in India together with Jio.”
This investment in digitization is particularly important in the wake of the coronavirus pandemic. Small businesses make up the vast majority of jobs in India and now require new ways to connect with customers. The investment from Facebook will enable people and businesses to connect and grow more than ever before.
Reliance Jio’s journey with K2
As Facebook CEO Mark Zuckerberg noted in a recent post, “The country is in the middle of a major digital transformation and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.”
K2 is proud to play a part in extending the availability of Jio’s digital services. Reliance Jio uses the K2 platform to help expand connectivity for its broadband services across India. In order to do this, the company plans to install 500,000+ km of fiber optic cables throughout the country.
The telecom company knew it needed a platform to simplify workflows around this fiber construction and other applications. It selected K2 due to the platform’s mobile capabilities and the ability to build complex, task-based applications with low-code tools.
Driving operational efficiency with K2’s intelligent process automation platform
It took around three months to launch the complex workflows around these cables, and the company has already seen fantastic business outcomes.
- Saving 6 days of work per fiber cable installation
- 95%+ accuracy of material consumption
- 99%+ accuracy of vendor billing
- 60% reduction in vendor billing complaints
- Improved productivity through digitization
According to Rajiv Katira, Deputy General Manager at Reliance Jio, “We are growing across all our segments. And we want to do more and more with tools like K2 which help us with time-to-market and understanding our processes much better.” K2 is proud to help Reliance Jio focus on providing greater connectivity across India through intelligent process automation solutions.
Congratulations again to Reliance Jio on this accomplishment!