Skip links

Digital Business Platform in the Customer Ecosystem 

Jump To Section

Digital Business Platform

As the business landscape evolves at a rapid pace, companies are increasingly realizing the importance of digital business adoption as a crucial element for success. To achieve this, adopting a cloud-based digital business platform (DBP) that enables a Single Source of Truth (SSOT) is essential.

This platform can help organizations unlock new revenue streams, improve customer engagement, optimize internal operations, reduce costs, and increase agility. Management engagement and ownership is the starting point to facilitate the successful development of the DBP across the enterprise. 

Smoother Transition to Digital Business Platforms

However, companies face several challenges in transitioning to a digital business platform. Among them are managing legacy systems that are complex, siloed, and difficult to integrate with modern cloud technologies. These barriers can be resolved by instilling engineering rigor, finding and retaining a diverse set of skills and talent adept at cloud infrastructure, DevOps, and agile software development

Another piece in the mix is Master Data Management (MDM), which is a process of identifying and managing the most critical data to ensure accuracy, completeness, consistency, and reliability across different systems and applications.

For highly regulated industries like Financial Services and Pharma, the need for modernizing their transaction platforms in the cloud for stronger governance, compliance, reliability, and performance has never been greater. 

Additionally, the correct focus on engineering rigor ensures governance, privacy, and compliance that is auditable and traceable. Establishing robust end-to-end security measures and standards like ISO and IEC 27001 will protect data from hackers and data breaches.

To overcome these challenges, companies need to establish a clear vision and strategy, build a strong business-led cross-functional team with the right mix of skills and expertise, leverage agile development methodologies, and embrace DevOps and automation.

It is also crucial to work independently from the current complex transaction systems and siloed legacy systems that prevent businesses from achieving digital adoption. By doing so, companies can achieve a modern cloud-based platform with an SSOT that allows them to operate with greater agility, speed, scale, and consistency. 

Key Strategies for Successful Digital Business Transformation

To achieve this, companies need to set clear business goals and objectives, adopt a business-led approach, create a collaborative culture and a cross-functional team that is empowered to make decisions, adopt an agile approach to software development, hire or partner to bring skilled talent in digital technology, and evaluate legacy systems to determine which ones can be integrated into the new platform or need replacement.

It is crucial to ensure that the digital platform is cloud-based, scalable, secure, and implemented with security measures to protect user data and the platform itself.

By adopting a DBP with an SSOT, companies can establish end-to-end industry best practices for security and compliance, quality, reliability, and higher productivity at scale in a cost-effective way. The digital business platform also plays an important role in breaking down the barriers by harmonizing business functions across the enterprise.

The SSOT enables advanced analytics, including artificial intelligence and machine learning to drive business value and improved decision-making. Research by McKinsey suggests that companies that use advanced analytics outperform their peers in revenue growth and profitability.

A key aspect of this process is that digital business can be done independently, quickly creating business outcomes without disruption to the current business. By working independently from the existing complex and siloed environment, this approach simplifies the process of collecting essential data into a single source of truth, which enterprises can leverage.

Effective management of data serves as the foundation for generating valuable insights and knowledge, which fosters a culture of innovation and growth. 

Also read: Digital Business vs. Digital Transformation

Empowering Digital Transformation with DBP

A DBM that is enforced by a Digital Business Platform through a simplified self-service environment with end-to-end automation and strong security and compliance that is auditable and traceable.

This is crucial for companies to stay competitive in the digital age. By taking a holistic approach companies can achieve success with greater speed, consistency, and scale.

It starts with business ownership and a collaborative approach that allows companies to bring data together across the enterprise into an SSOT.

A cloud-based self-service Digital Business Platform with automated governance enables companies to launch products faster and deliver exceptional experiences with greater agility and better outcomes.

Picture of Raj Vattikuti

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.

Suggested Reading

Ready to Unlock Your Enterprise's Full Potential?

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