Transformation is about reshaping value using technology solutions. It is also about identifying the most appropriate technology to address the problem at hand. It is about knowing how you can help your customers re-invent themselves to stay ahead of the curve. To enable all this, you need domain expertise.
We are happy to report that we have successfully led many transformation efforts for many of our clients. We can confidently say that while our technology solutions have had tangible business results for our clients, our domain expertise has helped us design the right technology solution for them.
Here is how this has worked in our favor
The ability to translate a business problem into a solution
Translating a business problem into a workable solution only comes when you have extensive domain knowledge. Domain knowledge helps understand the status quo, evaluate the history behind this, and understand the future you want. Domain knowledge helps us build elegant solutions that also consider technology evolution for future business needs.
While technical expertise helps you translate what you need to build into code, domain expertise helps you design the right solution for the business problem you are trying to address. We have established domain expertise in the financial services and banking sector. Our clients include some of the most demanding Investment Banks, Asset Management Companies, and Hedge Funds, as well as retail banks, corporate banks, and wealth management firms in all aspects of their business.
This domain knowledge is essential to understand the user needs for which a technology solution is being created. The knowledge of the functional flow of the business helps in creating a better understanding of the business requirements, evaluating business problems, identifying missing or incomplete requirements, and then proposing transformations that will solve these business challenges.
We ensure that for every project, we have a senior-level domain expert who leads the team. This ensures that business problems are clearly understood, and we have a strong, workable technology solution at hand.
Identify the right technology solution
While we are domain experts, we are also excellent technologists. These are people with in-depth technical knowledge of how technologies can work, how they can be manipulated, how much they can accomplish, and how much they can be stretched. This deep technology focus and knowledge also help us remain focused on solving business problems and eliminate technology bias.
For example, in the banking and financial sector, several legacy-era processes need transformation. But to bring about the transformation, you need to evaluate these processes and customize solutions that will make these processes efficient and relevant and deliver tangible business impact while keeping technology evolution in mind.
New technology isn’t always the best technology
It can be easy to get distracted by the plethora of shiny new technologies that inundate the market. Each of these technologies promises to be a silver bullet. Some deliver, some don’t, and often, this is because the technology in question wasn’t the right choice for the problem at hand.
There have been incidents where our clients have believed that what they needed was a technology solution that used the latest technologies, such as AI. Their conviction came from the fact that AI was a trending technology. However, during the evaluation of their project, we helped our clients refocus and helped them realize that their business problems could be solved with simple process automation.
The capacity to keep the clients best interest forward
Domain experts come with the experience and the expertise to translate business problems into solutions. They know what direction the team needs to take. what plan should be built, what tools and technologies have to be used, and what risks have to be mitigated to build something lasting and successful. They can think for the client as they understand the working dynamics of the business and have experience in building such solutions. This knowledge helps them connect the dots between systems and how they make a top-line, bottom-line impact. This helps them proactively manage and navigate the dynamic nature of the business environment.
As domain experts, we have been able to help in decision-making for our clients that have delivered tangible business results. It also gives us the capacity to evaluate what kind of challenges we will encounter and what steps should be taken to address these. It helps us design solutions for our clients that will serve their best interests.
We have been able to deliver real transformations to our clients because we are not focused on only delivering code and building applications. That is just a part of the process. The larger part is thinking like a business partner for our clients, understanding their limitations and challenges, identifying opportunities for growth and improvement, and then designing solutions for them. With domain knowledge, we show our clients how we shall be partners for them and effectively lead teams that use the right solutions.
To know more about how we have delivered projects with the right domain knowledge and technical skills, you can reach us at contact@wissen.com
