The future of all business is digital. But moving a business into the digital age seems a complex exercise. Tieto, the largest IT services company in the Nordic region and creator of world’s first internet bank, digital health records and e-invoice solutions, has already helped a large number of worldwide businesses in banking, insurance, retail, manufacturing, healthcare and public services with the digital leap in highly competitive markets. Their industry, technological and local expertise is unmatched. Tieto’s framework guarantees low initial investment, quick implementation, reduced costs and the chance to reinvest in business transformation.
Ecosystem of leading innovators and startups
Tieto actively builds an ecosystem of leading innovators and startups to complement its offering on data-driven area. At the moment they have 3 internal startups in the company focused on Tieto’s main growth areas; Customer Experience Management (CEM), Internal Internet solutions and Security Systems. Tieto’s experience of internal startups has been highly positive in terms of increased flexibility and agility – this benefits their customers by allowing them an increased ability to speed up digitalization.
Tieto is also building digital startups for customers. With the right approach the startup operational in few months. Tieto has concepts, assets and roadmaps in place and an ecosystem of digitalization partners for the required building blocks. So digital startups overcome the limitations from the legacy, lower the Total Cost of Ownership, and bring new revenue streams in stagnated markets. Tieto’s BuildFast- FailFast approach minimizes risks while the pay-as-you grow, SaaS approach guarantees innovative and disruptive business models.
According to Tieto a digitalization journey transformation has three key phases:
1. Leverage the existing assets:
Harvest the legacy including data and functionality by modernizing current IT as the foundation of modern business.
2. Create the bridge: Duality
Balance the traditional with the new whilst building a digital future where business and IT are intertwined in digital business.
3. Orchestrate the future:
The core of a digitalization journey lies in culture, ecosystem and orchestrating the future. Use disruptive business models to accelerate the transformation, as part of an ecosystem.
The Tieto Insurance Concept
In a changing insurance market several new opportunities arise. Digitalization makes new sources of revenue growth appear, and the potential to improve customer experience is practically endless. There is no better opportunity to accelerate business than digitalization. At the same time, there is no bigger threat to success than competitors digitalizing faster. Tieto has launched the continuously developing Tieto Insurance Concept to respond to the transformation needs of their customers. It is Tieto’s collection of best of breed insurance solution components including 3rd party partnerships and network of expertise both inside Tieto but also through the Insurance ecosystem. Their target is to enable self-funded business and IT transformation in the insurance sector by delivering modernization services whilst simultaneously relying on new digital business opportunities such as Internet of Things for Insurance and digital insurance startups.
Delivering great insurance experience by providing smart protection, preventive services and enable smooth and secured living by reaching customers in their specific situation, is the starting point for smarter insurance service. With preventive services and “right first time” service approach reducing the cost of serving the customer, and a smooth claims process anytime anywhere is key for fast resolutions. Tieto offers a collection of smart insurance solutions for consumers and corporates at all touchpoints, assisted by virtual advisers and intelligent customer insight engines.
Why we selected Tieto for DIA Amsterdam
We’re very pleased Tieto wants to showcase their Digital Startup Initiative at DIA Amsterdam. Tieto sees data as the new water -the prime driver for human experience and economic value in the future and continues to co-innovate new and unforeseen data-driven services and business models, opening up new revenue streams, increase cost savings and creating disruptive business models.
Who is Tieto
Tieto (knowledge) is the largest IT company in the Nordic region. Founded in 1968 and headquartered in Finland, Tieto has over 13,000 experts in close to 20 countries. Tieto's turnover is approximately EUR 1.5 billion and shares listed on NASDAQ in Helsinki and Stockholm.
The company started its business operations in Espoo under the name Tietotehdas Oy. In the 1990s, the company experienced rapid growth through a number of acquisitions, mergers and strategic alliances. During the 2000s, the globalization of the IT industry accelerated speeding up Tieto’s advancement to international markets. In 2012, Tieto introduced a new consumption-based Cloud Server, the fastest and most flexible cloud service in the market. It marked Tieto’s new technology strategy concentrating on four key areas: cloud, big data, mobility and social media.
Tieto has been awarded multiple prizes for its responsibility towards the environment and has been one of the IT world’s pioneers with its first energy efficiency project already taking place in 1978.
Presenter: Sameer Datye
Presenter: Mikko Helin
Cecile Guilloux email: firstname.lastname@example.org
Sameer Datye telephone: +358407166492
Mikko Helin telephone +358505146862