In a nutshell, the updated vision of Tieto’s future sees the leading Nordic software and services company become the first choice for their customers in their process of business renewal. Furthermore, Tieto aims to put the pedal on the metal and start to accelerate its pace of innovation and growth.
According to CEO Kimmo Alkio, who introduced the new strategy, Tieto is now more than capable of working its way towards these ambitious new targets. This is thanks to the strong foundation the company has been building over the course of the past few years.
“Several of our business units have been performing well, while prominent new units have emerged,” Alkio pointed out.
There are various new trends that are opening up significant opportunities for Tieto. Tomorrow’s world, we learned, is best described as one that is more data-driven than ever before. Digital innovation is speeding up in numerous fields.
To quote an example, Mr Alkio has particularly high expectations for the development of cognitive intelligence, a combination of artificial intelligence, machine learning, and real-time decision-making.
“Currently, cognitive intelligence is being applied by only 1% of enterprises worldwide,” Alkio pointed out. “By 2020, it is expected that 50% of enterprises will be applying cognitive intelligence to enhance either their own business performance or their customers’ experience.”
Cognitive intelligence is one of the many fields in which Tieto is becoming stronger as we speak. Industrial PRIME will be telling you more about it in just a few weeks’ time.
During our private chat with Kimmo Alkio, he revealed to us that digitalization is leading us towards an endlessly innovative world. The sky is the limit, and he can guarantee that Tieto is ready to play a pivotal role in this development.
Value for Life
Mr Alkio anticipates that all services for consumers are going to be extremely personalized in the years to come. And therein lies the opportunity for a company such as Tieto.
“The magnitude of the real-time world coupled with the latest, greatest, and upcoming technologies will truly open up significant avenues for us,” he pointed out.
“Our customers will be existing in a world of duality. I claim that every enterprise wishing to be competitive in the future will have to be able to master two things in parallel. Firstly, they must continue their drive for improved productivity and efficiency. Secondly, they need to relentlessly pursuit new services with which to reinvent their business.”
Fittingly, offering its customers the tools for just that happens to be Tieto’s bread and butter.
Not only is Tieto equipped with plenty of insight related to specific industry domains, it also possesses an impressive combination of silicon, infrastructure, applications, DevOps environments, and dynamic global cloud capacity.
According to Mr Alkio, such a combination is the foundation of reworking and modifying core business processes in practically every sector. Add to that an active co-innovation agenda between Tieto and its customers, and you’ve got yourself a winner. And Mr Alkio knows that.
“Tieto’s breadth of services and attention on quality are absolutely on par with any company in the world,” he stated. “This is supported by our efficiency, price competitiveness, and the significant talent that has joined our ranks in recent years. Last but not least, it is supported by our consistent financial development over the past few years.”
Tieto’s business is mainly focused in the Finnish, Swedish, and Norwegian markets, and it seeks to further solidify its status as a leading Nordic software and services company.
Additionally, Tieto has a growing appetite as well as concrete plans for further market expansion. Sounds like a viable plan, especially considering the company already supports its customers in 85 countries. The makings of a strong global reach are all there.
When presenting Tieto’s new strategy for 2016–2020, Mr Alkio seemed both confident and excited. And it’s easy to see why.
“In addition to having higher growth ambitions and a greater value proposition for our customers,” he said, “I believe we will be delivering much greater value to a much larger world population – not only for businesses and millions of individuals, but also for entire societies. That said, we are also modifying the purpose of our very existence. From now on, it will be to offer value for life.”
Text and image by Industrial PRIME
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