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December 2020: Proudly presenting our new Partner ICON.

Publication date: 14 December 2020

Chandan Roy: “On the Road to State-of-the-Art BI Solutions”

At the onset of 2020, everyone in the Business Intelligence (BI) Services space prepared for a big year – a big decade, in fact. Now, at the onset of 2021, nothing’s changed – except for everything that happened in-between. The past several months have flipped the world on its head in every aspect imaginable. A global pandemic hit. Millions of people lost their jobs. Business has plummeted in most sectors. The BI Services market is in a vulnerable state, but at the same time, there has never been this much growth potential on the horizon for new, state-of-the-art BI solutions – ever.

The Year of Partnerships

A great example is the latest strategic partnership between TRUECHART and Icon Group. As one of the most experienced BI solution providers in the Asia Pacific region, Icon Group has been providing business analytics solutions and services for nearly two decades.

“We are pleased to forge this alliance with TRUECHART and look forward to a great partnership ahead” said Mr. Chandan Roy, Group Director – Sales & Marketing, The Icon Group. “We believe the right way to push the BI market forward in 2021 is to look ahead with a fresh perspective. The new ‘remote’ reality has created more opportunities for so many companies and we are looking to be at the forefront of amazing moves coming up.”

Cuts, Drops & Challenges

In the early days of the pandemic, the challenge for many companies was to maintain their operability in a remote setting. Setting up a mobile workplace with laptops, mobile phones, file sharing, and a video-calling/chatting infrastructure was a challenge for many companies. Employees are not traveling as much (or at all) anymore. Hence, some meaningful changes and infrastructure-related decisions were involved.

“Businesses are challenged to plan ahead. Just think about any travel and entertainment budget planned for this year. How much of it was used? Maybe 30% of the forecast – at best? Keeping that in mind, most businesses are now being faced with the challenge of planning for 2021 with significant budget drops while keeping 2020 in mind, which was an unprecedented year,” explains Roy.

Assuming other businesses might face the same budget cuts, this momentous change is expected to have a significant impact on the travel services, hotel, and transportation industry. It is a new reality that is here to stay and will certainly introduce additional operational and strategic business challenges, especially in regards to “how we can unify Business Intelligence collaboration while everyone is working remotely.”

Pandemic Panic Yields Results

Companies everywhere are getting prepared for this new future and are re-shaping their views toward the collaboration challenges ahead. They have realized that they need new processes and tools for different company functions as well as for the variety of use cases and data complexity their teams are confronted with. 

“Current tools are not supporting a data-driven dialogue and data-driven collaboration,” claims Roy. “It is important to engage the right group of people in these discussions, as well as to decide who is part of the discussion, who has access to the data, and who is restricted from select sets of data.” This is especially noticeable in areas of finance, sales, and business intelligence where teams have formulated a strong need for data-point-specific collaboration. 

“To keep track of any business-related conversation, it is necessary for team members to know the right context,” posits Roy. This context is usually given by data and related KPIs. Questions like ‘why COGS for X product category, Y region, and Z month are up/down’ are important and can easily get lost in translation without context. “I am convinced that Collaboration Strategies will further evolve and that the tools available today will not be the tools of the future,” concludes Roy.

New Solutions for New Times

Digitalization continues to be one of the key challenges many corporate businesses are confronted with, especially during the pandemic. Client demands and needs are becoming increasingly complex and it is important to broaden their capabilities, but at the same time, to clearly position them as relevant in the market. This is where having expert guidance by a BI services company comes into play. This is how new solutions are born and better results are accomplished.

“The eventful nature of 2020 will inadvertently lead up to many innovative solutions in the BI space. KPI-CHAT by TRUECHART is definitely one of them,” suggests Roy. “Now it seems like there is an indefinite need for collaboration in all sectors. Bringing collaboration down to the data-point-specific, KPI level is a huge step forward, as it eliminates any overhead costs, timely processes, and knowledge workers being ‘out of the loop’ in the decision-making process.”

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