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Essential Technologies for Modernizing Your Business Approach

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Essential Technologies for Modernizing Your Business Approach

Digital Business Methodology represents a strategic shift, harnessing digital technologies to revamp or adapt existing business processes, corporate cultures, and customer interactions in response to market dynamics. In this ever-evolving landscape, this paradigm shift offers both challenges and opportunities for businesses of all sizes, from small enterprises to large corporations. The adoption of the right technologies and solutions within this methodology is paramount for businesses to remain competitive and agile.

In this discussion, we will delve into the technologies associated with Digital Business Methodology, empowering organizations to reshape their models, products, and operations to seize the opportunities presented by the digital era.

The Four Pillars of Digital Business Methodology

1. Modernizing IT

In today’s fiercely competitive environment, IT infrastructure stands as a critical differentiator. Modernizing IT architecture empowers companies to swiftly respond to market shifts and outshine competitors. The journey into digital business methodology often commences with the upgrade or modernization of IT infrastructure, expanding server capacity and integrating smart devices.

Key Technologies: Cloud Computing, Artificial Intelligence (AI), Machine Learning (ML), Real-time Analytics, and Data Security.

2. Digitalizing Operations

The second pillar revolves around leveraging digital tools to streamline, optimize, and rationalize existing processes throughout the value chain. This holistic approach revitalizes stakeholder relationships, spanning suppliers, partners, and customers alike.

Key Technologies: AI, 5G, and Internet of Things (IoT).

3. Digital Marketing

Digital marketing plays a pivotal role in connecting with consumers and elevating brands across diverse digital channels. Investing in data, harnessing AI for data interpretation, and crafting an omnichannel experience are integral aspects of this pillar.

Key Technologies: AI for predictive customer behaviour analysis, viral campaigns, geotargeting, and Customer Relationship Management (CRM) systems.

4. Exploring New Horizons

Following the completion of the first three pillars, organizations are primed for new avenues of business growth. These pillars form the foundation for innovation, enabling the exploration of new sources of revenue, business models, products, services, and collaborations.

Industry 4.0

Industry 4.0 is revolutionizing manufacturing, improvement, and distribution processes by integrating technologies such as the Internet of Things, cloud computing, analytics, AI, and machine learning into production facilities and operations. Smart factories, equipped with advanced sensors, embedded software, and robotics, collect, and analyse data, facilitating informed decision-making.

Key Technologies in Digital Business Methodology

1. Cloud Computing: Cloud computing delivers computing resources via the internet, providing online access to applications and storage without the need for physical servers or hardware.

2. Big Data Analytics: Big data analytics harness advanced techniques to analyse large volumes of data, yielding valuable insights.

3. Social Media: Social media platforms facilitate electronic communication, idea sharing, news dissemination, opinion expression, and multimedia content sharing across various channels.

4. Mobile Technologies: Mobile applications for smartphones and tablets empower users to perform specific tasks and functions.

5. Artificial Intelligence (AI): AI empowers systems to emulate human decision-making using algorithms, statistical models, and human knowledge.

6. Machine Learning: Machine learning enables computers to learn and adapt without explicit programming.

7. Virtual Reality and Augmented Reality: VR creates computer-simulated environments, while AR overlays digital information into the real world.

8. Internet of Things (IoT): IoT connects everyday objects with unique identifiers, enabling data collection and transmission over networks.

9. Advanced Robotics: Robotic process automation automates tasks traditionally performed by humans, driving efficiency.

In conclusion, Digital Business Methodology extends beyond technology implementation; it entails a profound re-evaluation of how organizations leverage technology, operations, and human resources to optimize performance and deliver value. Effective leadership is indispensable for charting the organization’s path and successfully achieving goals and milestones in this digital age.

Authored by Roger Eliskar Altamirano, Engineering Manager at Altimetrik

References:

Brinckerhoff, Ron. “The 4 Types of Digital Transformation Explained.” Shyft. (20 January 2022). https://www.shyftservices.com/resources/the-4-types-of-digital-transformation-explained

Moulakakis, V. “What are the 4 main areas of digital transformation?” LinkedIn. (23 June 2022). https://www.linkedin.com/pulse/what-4-main-areas-digital-transformation-vassilios-moulakakis

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Roger Eliskar Altamirano

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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).

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