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From Tradition to Transformation: How Technology is Reshaping Business Models

Technology has become a driving force for reinventing and powering business models across multiple sectors. 

In episode 6 of the Programmable World podcast, Carlton Hopper, UK Managing Director at GFT, a leading digital engineering company in the financial services sector, shares his expertise and insights with Dan Ilett, Managing Partner at Tollejo.

Carlton and Dan’s conversation covered multiple topics, but three key issues emerged.

 

  1. Technology’s integration into new business models is the crucial element for growth and innovation

With a strong background in computer science and accounting, Carlton has witnessed the profound impact of technology on various industries. Having worked across tech companies, banking and consulting, he highlights the significant role of technology in successful transformation projects and business model reinvention.

Over the past five to seven years, he believes that the narrative around technology has shifted “from the back office to the boardroom”. Carlton emphasises the rapid integration of technology into businesses as an “essential” component for driving growth and innovation within an organisation. 

 

  1. Technology strengthens organisational control and is changing the dynamics of outsourcing relationships

As the world becomes a “global village”, the rate of outsourcing is likely to slow down. Carlton emphasises that technology has become the binding force that brings organisations together. The COVID-19 pandemic further highlighted the importance of being in control of one’s design and having the necessary skills within the organisation.

In this new era, service providers like GFT need to offer clients a deeper understanding of technology, creating a mutually beneficial relationship between technology service providers and businesses.

 

  1. Specialisation and cybersecurity play pivotal roles in meeting customer demands

Specialisation is becoming more appreciated by customers. Carlton discusses the growing popularity of neo-banks, particularly among the younger generation, while acknowledging the importance of catering to the needs of older generations as well. 

Furthermore, cybersecurity has become a core aspect of running a business safely. Ensuring data protection and implementing robust cybersecurity measures is crucial for businesses to thrive in the digital age.

 

Tune in to the Programmable World podcast

Carlton’s discussion with Dan highlights the transformative power of technology in driving business model reinvention. 

The integration of technology, the shift from outsourcing to collaboration, and the emphasis on specialisation and cybersecurity emerge as key trends reshaping the business landscape. 

As GFT embarks upon exciting projects in the near future, the insights shared by Carlton Hopper serve as a valuable guide for organisations looking to navigate the digital frontier successfully.

Click here to listen to the episode on our YouTube.

You can stay tuned to the Programmable World podcast by following our the Tollejo website or our other listening platforms.


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