Technology is advancing fast - can anyone keep up?

Di conducted an interview with Deniz Yildirim, CEO and founder of tretton37 on his thoughts about the current speed of tech trends and advancements, digital transformation, business value through technology and how to get started when all feels overwhelming.

Technology has never been more business oriented and focused on solving problems than today. Still, many people find themselves Googling, attending webinars, seminars, or talking to their coworkers and friends to try to understand what is happening, what is relevant, what can help their businesses, what is real and what is just hype.

– The good news is that businesses face the same challenges that they have always faced. They are trying to generate revenue by enhancing their services, cut costs by streamlining and optimising their internal processes, they are trying to expand their business by innovating, and they are trying to handle change management and help people embrace these new ways.

Digitialisation mindset is changing

According to him, digital and IT are no longer being treated as cost centers, but as profit centers central to business operations more often than ever.

– There is a growing understanding of the value that can be derived from investments in technology. Many management teams have recently developed a keen interest in technology, showing curiosity in understanding and assisting with respective goals. This enthusiasm was not as prevalent in the past, which is a positive development, he says.

No one size fits all solution

When it comes to digitalisation, there is no one size fits all approach. According to Deniz Yildirim, there are essentially three things that technology can do for any business and thinking about it in this matter can give some inspiration.  

- Companies use technology to increase revenue. Manual tasks and processes that take several weeks for one person to do can be done with the click of a button today. By using automation in the right places, you can deliver to customers at the speed they expect, thus generating satisfaction and revenue.

– Companies use technology to save costs. By capitalising on new tech trends such as AI and Machine Learning, we were able to save one of our clients over $4.7 million per year.

- Companies use technology to unlock new revenue streams. Most likely you are sitting on large amounts of data that can be aggregated and monetised. Using data, a large Scandinavian retailer successfully expanded their offering into a second hand e-commerce marketplace.

Where to start

– When it feels overwhelming, companies can start small with a workshop to identify and align on one challenge and potential solutions, he adds.

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Read full article in Swedish.