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Embracing Business Transformation in the Era of Rapid Technological Evolution

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Technology is changing the world at a speed never seen before. This is dramatically changing customer behavior and their expectations from businesses, who are struggling hard to keep up to the tide.
Evolving Engagement Models and Skills

Technology is changing the world at a speed never seen before. This is dramatically changing customer behavior and their expectations from businesses, who are struggling hard to keep up to the tide. Business transformation is what every enterprise needs today to stay relevant in the near future, which goes beyond the purview of what digital transformation alone brings to the table.

This is also changing the way business has traditionally engaged with technology, which was a lot more in silo and disparately connected. Today, technology is the key driving force in the way businesses run both internally and externally. The expectation of the business from technology, therefore, is now more connected and integrated. Hence, traditional engagement models are failing in several instances and new technology models are gaining more success in their partnerships.

The point being that business transformation requires a whole new approach and a different set of people with specific skill sets. Forward looking enterprises who are seriously looking at modernizing their business and evolving customer experience, need a special type of companies to partner with as compared to traditional consulting and outsourcing models.

Driving Business Transformation for Relevant Outcomes

What does it mean? Enterprises are looking for companies who bring ‘practitioners’ who can create end-to-end solutions, and work with both business and technology to achieve relevant business outcomes. They have the ability to create the business transformation architecture based on their horizontal domain-based knowledge.

Practitioners are people who work closely with business to identify and define the set of business outcomes, prioritize, and build an incremental roadmap, instead of a typical big bang approach that usually fails to address definitive issues. Especially when it comes to data related transformation, practitioners are able to define the relevant sources of data. Then they bring data engineering scrum teams who assimilate data from various sources and connect them back to business. They are also the data scientists who work with the business and technology teams to apply the effective algorithms, build dashboards, and provide effective and predictive analytics. Then there are the transformation product engineering teams who ultimately create the products that are derived from these insights and are built to deliver outcomes.

Another crucial part of a business transformation program is the discipline and the governance framework that centrally manages, monitors, and ensures the effectiveness of the initiative. Enterprises need to focus on an innovation framework that helps in maintaining this discipline and add more value to the whole transformation exercise.

This is applicable to every business, be it in the retail, manufacturing, healthcare, automotive or the financial services domain, where change is rapid and directly affects the consumer. It takes one disruptor to bite the largest chunk of pie from established behemoths in any domain. As Einstein has famously said, “we cannot solve our problems using the same thinking we used when we created them.” We have several examples where the failure to evolve the thought process has led to the extinction of successful, established businesses.

Today, however, I feel quite hopeful as I see many enterprises have started to change their thinking towards technology and the providers they choose as partners. It will be interesting to wait and watch the remarkable outcomes these new partnerships will bring to the market and to consumers.

You can also read this blog on Silicon Village.

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.

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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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