Chennai, India -- (ReleaseWire) -- 05/12/2015 --Intellect Design Arena Limited, the world's first full-spectrum banking and insurance products company for the digital age, won the 12th successive award for its innovative Enterprise Social Networking platform, Octopus. Intellect Octopus lauded as 'Year's Most Credible Innovative Product' at TECHNOVITI 2015. Octopus is the only enterprise platform which engages people and centralizes knowledge, management & processes resulting in an efficient enterprise. The highly successful social networking solution with over 10,000 users in the corporate environment acts as a catalyst for social networking that increases workplace productivity and accelerates business growth.

An annual event by Banking Frontiers & Greyhound Research, TECHNOVITI is a platform that recognizes and facilitates innovative products for enterprises. The award was presented by Rajesh Agarwal - IAS, Principal Secretary (IT), Govt. of Maharashtra to the Intellect team.

Octopus is an Enterprise Social Network platform with several social applications uniquely woven to foster collaboration, transparency and exchange of information at the workplace. Its functionality can be extended with modular apps to enable seamless social networking and collaboration within the organization. It provides functionalities, including public, private and team-based collaboration, with ability to disseminate information to the public, social team rooms and management, apart from tracking and maintaining an artifact repository for projects, customer accounts, pre-sales and business leaderships.

Commenting on the award, Shashi Mohan, CTO & CIO, Intellect Design Arena Ltd. said, "We are delighted to receive this award in recognition of our innovation in developing an Enterprise Social Network that will redefine how organizations function. For Octopus is a next generation social platform designed to eliminate the traditional emailing system. It enables an 'open kitchen' culture to engage, empower and encourage employees to centralize knowledge sharing, management & processes in real time with transparency within the enterprise. The key feature of the product are the 'social connectors', that enable the management to stay engaged with employees while ensuring there is central oversight on projects. Social networks have largely been outside the workplace, but thanks to Octopus, today it can be a reality within enterprises to unlock the power of collaborative networking."

A study conducted among Polaris and Intellect employees shows that, with Octopus, internal e-mail usage went down by 98% and the number of mailing groups went down by 100%. This is because Intellect has extended enterprise social collaboration to include project management activities such as collaboration in real time between teams spread across geographies. The 'social connectors' enable continuous engagement and documentation of projects; 'social team rooms' help disseminate information to team members; and newly recruited team members have access to all information- helping reduce ramp-up time with seamless and effective on-boarding.

Using Octopus, teams can manage project deliveries, customer related interactions, knowledge-sharing, online collaboration and employee engagements across the organization – a transformation that increases total enterprise productivity. Social networking, social learning, digital experiences and knowledge management tools based on an open cloud-based, mobile architecture make Octopus an innovation that will transform the way an enterprise operates in future.