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The invisible vectors of change; what to watch for in 2022

The invisible vectors of change; what to watch for in 2022

The lines between the physical and the digital have all but vanished. Businesses have discovered that blending the two delivers more than the sum of the parts. Today, that fusion is able to deliver personalization at scale without having to bust the bank, create work-from-anywhere a reality with unmatched convenience and safety and network ecosystems to make them more resilient. Underlying this are a set of technology-oriented ideas that call for a broader understanding in 2022.

The experience economy, further fueled by evolution of payments: The recent focus on removing physical contact from user journeys has magnified the value of digital products, services and operations thus scrunching the roadmap to digital transformation. While tech stack modernization is a given, it must be centered on the delivery of fresh and habit-forming experiences. This trend will continue to have a pronounced impact in the way payments are integrated into value chains with significant advances across the dimensions of choice, security and ease-of-use. So, how easily can a new payment process be integrated into your business? The answer depends on the Busness2Developer equation. It calls for a developer-friendly engineering approach that makes it easy for merchants to integrate the payment platform into their ecosystem.

A holistic approach to digital security: The days of slow development have been replaced by rapid release cycles, delivered by globally distributed teams, injecting new code pieces in a collaboratively code base leading to an increased possibility of security vulnerabilities. As a result, mature and scalable DevSecOps is becoming a flywheel for organizations, calibrating their speed to value. As organizations move to build new products or modernize legacy stacks, they need to bring the urgency in their approach to a robust DevSecOps setup if they are to continue their growth trajectory.

SRE – coming through on customer expectations: Closely linked to DevSecOps is Site Reliability Engineering (SRE). Today, a short 10 minute shut down of a consumer/business facing service makes international headlines. Apart from the constant vigilance needed to prevent data breaches, CXOs will increasingly find themselves in the dock if their digital offerings are not reliably delivered. But system failures in the face of large-scale business pivots or even near-routine change management continue to happen. For example, large financial businesses moving into rural markets can find their existing systems are not designed to be fault tolerant in the new context. Service unavailability could affect prospects and customers negatively. This is where SRE, a collection of engineering principles, steps in to provide the means to keep large-scale systems functioning from a user’s perspective while reducing the cost of failure.

The sense of urgency to simplify the core: Many executive leadership of leading enterprises now with private equity ownership structures, will renew their focus on building new markets, products or restructuring a business for faster returns and more competitive operational efficiency. This is driving a strong push towards simplifying the enterprise tech stack which, for many, has become rigid and limiting. These organizations understand that business volatility will not end, and neither will the need to be fast to capture new market opportunities. Organizations have to therefore, be inherently nimble and adaptable. Their ambition should not be ransom to what their current technology architecture and stack can withstand or yield but should rather be empowered by its limitless potential. This means keeping the tech backbone simplified without sacrificing modernization and ease of innovation.

After data (lots of it), what? The race, until now, was to acquire data. Now that practically every organization has got there, the challenge is to leverage the data to solve problems and build competitive advantage. This means applying a whole family of advanced technologies such as fuzzy logic to figure out customer needs, market behavior and ideal product features. Closely related to this is the growing institutionalization of data science. Data wrangling and data workbenches are becoming important—because data scientists and data engineering teams must be served up the right data for them to do their magic.

Unbundling as a strategy: Often, successful businesses thrive on their ability to bundle products and services that customers want. But at the back end, the challenge is quite the opposite: It is to smartly unbundle the value chain to build intriguing new equations and synergies, that weren’t possible earlier. This trend is especially noticeable in financial services. Banks, for example, continue to disburse loans while the loan origination is managed by last-mile partners. This is because a customer today may avail a loan from a specific bank using a third-party app simply because the customer has a prior relationship (or trust) with the third-party app. This behavior is driving organizations to think of themselves, their business models and their underlying technology stacks as ecosystems that need to be interoperable versus striving to be do-it-all behemoths. We’ll see more of this “unbundling” trend shape businesses and the enabling technology in newer ways.

The larger trends and innovations that swept 2021 are determining which enabling technologies will dominate 2022. These technologies will become the steppingstones to a better world and to more resilient businesses.

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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).

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