How to enable fast rollout of new digital products and services?
Today, every business is a digital business. Only by innovating faster, and with higher levels of efficiency and agility, will enterprises survive and succeed in the future. This calls for a whole new way of thinking about business and respective application development.
The Finnish economy has seen some hard times since the financial crisis of 2008. We've experienced a prolonged recession, our debt grows at a rate of around six billion euro annually, and our population is ageing.
Nonetheless, one of the government's so-called 'spearhead projects' has been to kick start the digitalization of our public services. It's seen as an important move because it both sets the stage for future economic growth and cuts the cost of getting the services to citizens.
Many enterprises today are facing similar challenges. Consumer behaviour is changing and their traditional lines of business are declining in importance and delivering less revenue, so enterprises need to renew themselves to stay on the markets. Here, too, speeding up digitalization holds the answer.
Confronting the challenges of speed and cost
Now, more than at any other time in history, enterprises and organisations need to innovate. And when you are successful in the innovations, you will get new revenues and increased customer satisfaction often from unexpected services and products.
To keep up with the evolving demands of a digitally empowered customer base, enterprises and organisations need to roll out new products and services much faster, with less resources - and more flexibly - than ever before. Only then, in our rapidly changing society, will they be successful and prosper.
However, given the pressure on budgets, resources and staff, the product and service rollouts need to be as efficient and automated as possible. Organisations in the public and private sector alike need a whole new way of thinking about how they build, manage and run products and services, making them better optimised but also fast and simple enough to foster a culture of constant innovation and growth.
This is why we've developed Tieto Enterprise Cloud Orchestrator (TECO), a totally new cloud service platform and ecosystem designed to automate end-to-end application lifecycle management. It'll allow our customers to design, test and launch innovative new products and services in minutes rather than months, growing their business and at the same time industrializing and streamlining their IT. TECO enables fast digitalization for our customers.
It'll save them money, too. According to early customer cases, we can see that using automation tools like TECO for application development, improves process efficiency by around 40 per cent and cuts IT costs by 20 per cent. For an enterprise or an organisation that makes hundreds of thousands of application releases per year, the total savings in euro could be in the tens of millions.
And of course, that's to say nothing of the long-term advantages that being a truly digital business will bring. If you'd like to know more about what we've accomplished with TECO so far, I'd be very happy to tell you in person - the results really do speak for themselves.
Becoming part of the new digital economy
It's hard to overstate how much digitalization is changing the world. As the number of connected devices increases, and as we continue to create more data and connect via social networks, we're heading towards a real-time society where cloud-based ecosystems are the order of the day and business opportunities are generated by customers every second. The benefits to a traditional enterprise of joining this new digital economy should be obvious.
Why hasn't this happened yet? Well, there's the issue of cost - and, as my colleague Niraj Sood wrote recently, enterprises have to deal with the burden of legacy, and may rely on third-party applications and services as part of their IT environment. However, TECO's open APIs make it possible to keep pre-existing solutions stable while innovating quickly and efficiently.
At the end of his blog, he posed the question: "Are you ready to automate application lifecycle management and become a truly digital business?" With TECO, you can be.