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Embrace Digital Transformation with Digital Business Methodology (DBM)

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Digital Transformation for Sustainable Growth

In the era of digital business, where growth and limitless outcomes are desired, it is crucial to reevaluate the concept of digital transformation. Although widely promoted as a solution, embracing digital transformation is often a one-off program that falls short of achieving sustainable results. It’s time to shift our perspective and embrace digital business, supported by a robust methodology known as the Digital Business Methodology (DBM). Prominent companies, such as Gartner and McKinsey, have recognized the limitations of the traditional digital transformation approach and are promoting new, more effective, approaches to digital business. As a follow up to the blog, “Digital Business Methodology: The Pathway to Unlocking the Power of Digital Business,” I shed light on the crucial differences between digital business and digital transformation. 

To start, it’s essential to distinguish between digital business and digital transformation. While the term “digital transformation” is commonly associated with adopting digital capabilities, it often neglects the need for a business-oriented approach to achieve tangible results. Technology-based transformation, prioritizing technology over core business objectives, is inefficient and typically leads to a siloed approach. The lack of business ownership, collaboration, and alignment across the enterprise hampers growth and innovation. Many companies with significant investments in technology found this path time-consuming, prone to delays, and ultimately fell short of goals, resulting in frustration and cancellation of these projects.

Shifting Focus: From Technology-First to Results-Driven

CEOs and C-Suite executives must shift their focus away from a technology-first approach associated with digital transformation and instead embrace digital business with its emphasis on delivering results with consistency, speed, and scale. Digital business can be done separately from the existing complex, siloed ecosystem to create data led innovation, new products, and growth without disruption. This approach is the pathway to cultivate an outcome-driven, collaborative culture—the foundation for forging a lasting competitive advantage. At the core of digital business lies the DBM, providing the framework necessary for achieving business outcomes and success.

Ensuring Governance, Quality, and Compliance+P23+Q23

DBM serves as a holistic approach for adopting and implementing digital business. It offers a defined path that converges data, technology, and people, delivering an outcome-driven, incremental approach that delivers results with speed. It is business-led with a guided, adaptable ideation-to-deployment ecosystem that fosters seamless collaboration and agile culture across business owners, engineers, analysts, scientists, and operational teams. It also ensures strict governance, engineering rigor, quality, security, and compliance enabling companies to operate with higher productivity and predictability. DBM opens the door for the single source of truth (SSOT) and data democratization empowering users across the company to leverage data in more effective ways with advanced tools like AI/ML. DBM is empowered and enforced through a self-service cloud-based digital business platform (DBP).

Quality Data, Quality AI: The Key to Accurate Predictions and Decisions

Building an enterprise-wide data ecosystem optimized for AI/ML brings numerous competitive benefits including greater agility, and faster responsiveness. Informed decision-making, increased productivity through automation, personalized customer experiences, uncovering insights, and driving innovation. To construct a data-driven culture and ecosystem, investments should prioritize data quality, security, and governance, integration of all data sources, scalable infrastructure, and upskilling employees or partnering with data science experts. 

Companies quick to jump on the AI bandwagon expecting immediate results before they have built a solid data foundation and a SSOT will be disappointed. The lack of attention to a carefully planned data ecosystem can lead to biased AI models, inaccurate predictions, and poor decision-making. Low-quality data hampers insights, decision-making capabilities, and reliable automation. Companies that make technology investments in their current siloed, complex ecosystem don’t achieve the outcomes, productivity improvements, and other benefits they seek.

Embracing the DBM: A CEO’s Imperative

Digital business is a journey to continuously increase competitiveness and create value through an incremental approach. With a focus on tangible outcomes and a business-led agile culture, digital business driven by the Digital Business Methodology with its holistic approach becomes the primary driver of growth. Companies are awakening to the significance of adopting the DBM as the ultimate guide to propel their digital and data capabilities to unprecedented heights. CEOs need to lead the way and embrace this new DBM perspective to achieve competitive advantages, greater innovation, and accelerated growth.

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Raj Vattikuti

Raj Vattikuti is an American-Indian entrepreneur, business executive and philanthropist. He is the Founder and Chairman of Altimetrik Corp. He is also the founder of Vattikuti Foundation. through which he is involved in many charitable causes.

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Michael Woodall

Chief Growth Officer of Financial Services

Michael Woodall, as the Chief Growth Officer of Financial Services at Altimetrik, spearheads the identification of new growth avenues and revenue streams within the financial services sector. With a robust background and extensive expertise, Michael brings invaluable insights to his role.

Previously, Michael served as the Chief of Operations and President of the Trust Company at Putnam Investments, where he orchestrated strategic developments and continuous operational enhancements. Leveraging strategic partnerships and data analytics, he revolutionized capabilities across investments, retail and institutional distribution, and client services. Under his leadership, Putnam received numerous accolades, including the DALBAR Mutual Fund Service Award for over 30 consecutive years.

Michael’s dedication to industry evolution is evident through his involvement with prestigious organizations such as the DTCC Senior Wealth Advisory Board, ICI Operations Committee, and NICSA, where he served as Chairman and now holds the position of Director Emeritus. Widely recognized as an industry luminary, Michael frequently shares his expertise with various divisions of the SEC, solidifying his reputation as a seasoned presenter.

At Altimetrik, Michael plays a pivotal role in driving expansion within financial services, leveraging his expertise and Altimetrik’s Digital Business Methodology to ensure clients navigate their digital journey seamlessly, achieving tangible outcomes and exponential growth.

Beyond his corporate roles, Michael serves as Chair of the Boston Water & Sewer Commission, appointed by the Mayor of Boston, and is actively involved in various philanthropic endeavors, including serving on the board of the nonprofit Inspire Arts & Music.

Michael holds a distinguished business degree from Northeastern University, graduating with distinction as a member of the Sigma Epsilon Rho Honor Society.

Anguraj Kumar Arumugam

Chief Digital Business Officer for the U.S. West region

Anguraj is an accomplished business executive with an extensive leadership experience in the services industry and strong background across digital transformation, engineering services, data and analytics, cloud and consulting.

Prior to joining Altimetrik, Anguraj has served in various positions and roles at Globant, GlobalLogic, Wipro and TechMahindra. Over his 25 years career, he has led many strategic and large-scale digital engineering and transformation programs for some of world’s best-known brands. His clients represent a range of industry sectors including Automotive, Technology and Software Platforms. Anguraj has built and guided all-star teams throughout his tenure, bringing together the best of the techno-functional capabilities to address critical client challenges and deliver value.

Anguraj holds a bachelor’s degree in mechanical engineering from Anna University and a master’s degree in software systems from Birla Institute of Technology, Pilani.

In his spare time, he enjoys long walks, hiking, gardening, and listening to music.

Vikas Krishan

Chief Digital Business Officer and Head of the EMEA region

Vikas (Vik) Krishan serves as the Chief Digital Business Officer and Head of the EMEA region for Altimetrik. He is responsible for leading and growing the company’s presence across new and existing client relationships within the region.

Vik is a seasoned executive and brings over 25 years of global experience in Financial Services, Digital, Management Consulting, Pre- and Post-deal services and large/ strategic transformational programmes, gained in a variety of senior global leadership roles at firms such as Globant, HCL, Wipro, Logica and EDS and started his career within Investment Banking. He has developed significant cross industry experience across a wide variety of verticals, with a particular focus on working with and advising the C-Suite of Financial Institutions, Private Equity firms and FinTech’s on strategy and growth, operational excellence, performance improvement and digital adoption.

He has served as the engagement lead on multiple global transactions to enable the orchestration of business, technology, and operational change to drive growth and client retention.

Vik, who is based in London, serves as a trustee for the Burma Star Memorial Fund, is a keen photographer and an avid sportsman.

Megan Farrell Herrmanns

Chief Digital Officer, US Central

Megan is a senior business executive with a passion for empowering customers to reach their highest potential. She has depth and breadth of experience working across large enterprise and commercial customers, and across technical and industry domains. With a track record of driving measurable results, she develops trusted relationships with client executives to drive organizational growth, unlock business value, and internalize the use of digital business as a differentiator.

At Altimetrik, Megan is responsible for expanding client relationships and developing new business opportunities in the US Central region. Her focus is on digital business and utilizing her experience to create high growth opportunities for clients. Moreover, she leads the company’s efforts in cultivating and enhancing our partnership with Salesforce, strategically positioning our business to capitalize on new business opportunities.

Prior to Altimetrik, Megan spent 10 years leading Customer Success at Salesforce, helping customers maximize the value of their investments across their technology stack. Prior to Salesforce, Megan spent over 15 years with Accenture, leading large transformational projects for enterprise customers.

Megan earned a Bachelor of Science in Mechanical Engineering from Marquette University. Beyond work, Megan enjoys playing sand volleyball, traveling, watching her kids soccer games, and is actively involved in a philanthropy (Advisory Council for Cradles to Crayons).

Adaptive Clinical Trial Designs: Modify trials based on interim results for faster identification of effective drugs.Identify effective drugs faster with data analytics and machine learning algorithms to analyze interim trial results and modify.
Real-World Evidence (RWE) Integration: Supplement trial data with real-world insights for drug effectiveness and safety.Supplement trial data with real-world insights for drug effectiveness and safety.
Biomarker Identification and Validation: Validate biomarkers predicting treatment response for targeted therapies.Utilize bioinformatics and computational biology to validate biomarkers predicting treatment response for targeted therapies.
Collaborative Clinical Research Networks: Establish networks for better patient recruitment and data sharing.Leverage cloud-based platforms and collaborative software to establish networks for better patient recruitment and data sharing.
Master Protocols and Basket Trials: Evaluate multiple drugs in one trial for efficient drug development.Implement electronic data capture systems and digital platforms to efficiently manage and evaluate multiple drugs or drug combinations within a single trial, enabling more streamlined drug development
Remote and Decentralized Trials: Embrace virtual trials for broader patient participation.Embrace telemedicine, virtual monitoring, and digital health tools to conduct remote and decentralized trials, allowing patients to participate from home and reducing the need for frequent in-person visits
Patient-Centric Trials: Design trials with patient needs in mind for better recruitment and retention.Develop patient-centric mobile apps and web portals that provide trial information, virtual support groups, and patient-reported outcome tracking to enhance patient engagement, recruitment, and retention
Regulatory Engagement and Expedited Review Pathways: Engage regulators early for faster approvals.Utilize digital communication tools to engage regulatory agencies early in the drug development process, enabling faster feedback and exploration of expedited review pathways for accelerated approvals
Companion Diagnostics Development: Develop diagnostics for targeted recruitment and personalized treatment.Implement bioinformatics and genomics technologies to develop companion diagnostics that can identify patient subpopulations likely to benefit from the drug, aiding in targeted recruitment and personalized treatment
Data Standardization and Interoperability: Ensure seamless data exchange among research sites.Utilize interoperable electronic health record systems and health data standards to ensure seamless data exchange among different research sites, promoting efficient data aggregation and analysis
Use of AI and Predictive Analytics: Apply AI for drug candidate identification and data analysis.Leverage AI algorithms and predictive analytics to analyze large datasets, identify potential drug candidates, optimize trial designs, and predict treatment outcomes, accelerating the drug development process
R&D Investments: Improve the drug or expand indicationsUtilize computational modelling and simulation techniques to accelerate drug discovery and optimize drug development processes