{"id":5043,"date":"2018-05-03T10:23:09","date_gmt":"2018-05-03T07:23:09","guid":{"rendered":"https:\/\/impactechs.com\/?p=5043"},"modified":"2020-04-29T15:11:40","modified_gmt":"2020-04-29T15:11:40","slug":"companies-that-fail-to-automate-now-are-going-to-get-left-behind","status":"publish","type":"post","link":"https:\/\/www.impactechs.com\/companies-that-fail-to-automate-now-are-going-to-get-left-behind\/","title":{"rendered":"ImpacTech: \u2018Companies that fail to automate now are going to get left behind\u2019"},"content":{"rendered":"

ImpacTech<\/a> co-founder and CEO George Larkou believes the challenge of efficiently and effectively processing data through AI and predictive analytics will define the success or failure of companies in the finance sector<\/strong><\/h2>\n

ImpacTech<\/a> CEO George Larkou and co-founder and CTO George Nicolaides have been navigating ImpacTech\u2019s<\/a> course to become leaders in Business Intelligence solutions for almost two years now. Central to much of their development work is the process of leveraging data through AI. During that time, they\u2019ve overseen a considerable increase in personnel which prompted the move to the modern headquarters in Limassol.<\/p>\n

\u201cIt\u2019s an exciting time for us with the expo coming up. It\u2019s a great platform to demonstrate how effective our new CRM<\/a> is for the finance industry,\u201d said Larkou.<\/p>\n

In May we will present our data driven CRM<\/a> at the iFX Expo where we are Gold sponsors. Our CRM<\/a> marks a huge step forward for customer management systems, with its built-in business relationships for MT4 and MT5<\/a> trading platforms. It delivers genuine integration with the business\u2019s other functions. It is the first time a brokerage\u2019s primary functions \u2013 the trading platforms, marketing<\/a> and telecoms<\/a> \u2013 can be fully and seamlessly integrated, straight out of the box.<\/p>\n

\u201cData from a brokerage\u2019s touchpoints is leveraged by the CRM<\/a> in combination with marketing tools<\/a> so that you can predict customer behaviour and increase conversions,\u201d explained Larkou. \u201cIt\u2019s the complete brokerage solution.\u201d<\/p>\n

The telecom solution<\/a>, which is a highly cost-effective tool on its own, also integrates seamlessly and adds more data for the Machine Learning algorithm to work with. While the CRM<\/a> is a major milestone for ImpacTech<\/a>, Larkou\u2019s focus is already on what lies beyond.<\/p>\n

\u201cWe\u2019re also working on solutions for a broad spectrum of clients which presents a new set of challenges,\u201d he explained.<\/p>\n

TEAMS OF DEVEOPERS WITH EXPERTISE IN AI AND BIG DATA<\/h2>\n

Modern art adorns the building\u2019s tall walls and catches the eye at every turn. Depictions of Ancient Greek philosophers and thinkers combined elegantly with tech symbols. They symbolise how ImpacTech<\/a> fuse technological developments to address the challenges businesses face today in increasingly competitive markets.<\/p>\n

At most of the desks within the open plan office sit teams of developers. Among them are experts in algorithms and Big Data analysis.<\/p>\n

\u201cWe\u2019re all about delivering more intelligent tools. Having ideas is great but we\u2019re here to convert those great ideas into a productive tool that drives business,\u201d explained Larkou.<\/p>\n

\u201cFor me, solutions also have to be easy to use. A lot of work goes into designing the interfaces. Intuitive tools are the most effective.\u201d<\/p>\n

\u201cThe success of Apple\u2019s iPhone is the case in point. The device is capable of doing a lot but what made it such an outright success was that performing all those functions was easy for an inexperienced user.\u201d<\/p>\n

\u201cWithin minutes you got a great user experience and that\u2019s the same goal we have for our solutions. Apple didn\u2019t need you to read a 50-page user guide to get a great experience from their phones and you don\u2019t need one for our solutions either. They\u2019re easy and intuitive to use.\u201d<\/p>\n

When asked about where ImpacTech<\/a> will be in a year from now Larkou said: \u201cCertainly, we expect to be much bigger in banking and gaming over the next 12 months.\u201d<\/p>\n

\u2018BUSINESS INTELLIGENCE IS ONLY GOING TO GET BIGGER\u2019<\/h2>\n

\u201cFinTech is a lucrative industry that\u2019s only going to get bigger. At this point, it\u2019s still immature. Only now is awareness growing about the impact of advanced technological data. Big Data, AI and predictive analytics are going to develop and disrupt many industries.\u201d<\/p>\n

\u201cPeople are waking up to the importance of their data and how much value we can leverage from it. We\u2019ve been working on data driven solutions for a long time now, we\u2019ve enjoyed a lengthy runway on our competitors.\u201d<\/p>\n

\u201cThe critical trend is towards automation. Businesses that don\u2019t automate functions like marketing<\/a> will not be able to compete in the very near future.\u201d<\/p>\n

Clients from all corners of the world request presentations. They\u2019re convinced that ImpacTech\u2019s<\/a> solutions offer value and are the best fit for what they want to achieve. It\u2019s a view Sales Director Anthony Papaevagorou concurs with.<\/p>\n

Papaevagorou recently left his senior role at MetaQuotes, where he led the sales division for many years, because he\u2019s convinced ImpacTech<\/a> is the right place to be. ImpacTech\u2019s<\/a> recent recruitment drive has been in preparation for a sizeable increase in the expected volume of work.<\/p>\n

\u201cYes, we\u2019ve been adding to all our teams,\u201d explained Larkou. \u201cWe\u2019ve taken on additional Full-stack developers, designers, Back-end engineers, mobile engineers. The important thing is to ensure they have the skills and are the right fit for ImpacTech.<\/a> We\u2019ve worked really hard to bring this group together.\u201d<\/p>\n

Larkou sees blockchain technology accelerating the shift towards greater automation and more efficient use of data.<\/p>\n

BLOCKCHAIN TECHNOLOGY WILL DECENTRALISE DATA<\/h2>\n

\u201cBlockchain technology is going to be a critical part of it. Clearly cryptocurrencies are part of this but I\u2019m also talking about applying the blockchain to decentralise data. This will enable us to access true real-time analysis of data.\u201d<\/p>\n

\u201cWe will no longer need to react to a prompt or a notification, our systems will simply optimise as every new data input dictates.\u201d<\/p>\n

\u201cThe great thing about this technology is that it\u2019s totally scalable. It makes no difference to the technology whether you\u2019re processing 10 Terabytes of data or 10 Petabytes. The importance lies in the efficiency that your system can analyse this data and how quickly the business can use those insights.\u201d<\/p>\n

Larkou offers the example of two similar sized companies in the same industry and the advantage that the one with real-time analytics has over the other.<\/p>\n

\u201cWhile company A uses a monthly report to track how the business is doing, company B is adjusting in real-time. Company A finds out at the end of the month that their latest campaign actually lost them one million dollars, company B drops the loss-making campaign immediately, minimizing the exposure, and keeps tweaking the parameters until it finds a more efficient one.”<\/p>\n

\u201cHow long do you think company A can survive in that environment?\u201d<\/p>\n

On the walls of the office hang numerous flat screens. They simultaneously display motivational quotes from famous people and industry figures. One reads: \u201cYou can\u2019t always control what goes on outside, but you can control what goes on inside.\u201d<\/p>\n

It neatly sums up what ImpacTech<\/a> is doing for its customers.<\/p>\n","protected":false},"excerpt":{"rendered":"

ImpacTech\u2019s co-founder and CEO George Larkou believes the challenge of efficiently and effectively processing data through AI and predictive analytics will define the success or failure of companies in the finance sector.<\/p>\n","protected":false},"author":2,"featured_media":14049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n\u2018Companies that fail to automate now are going to get left behind\u2019<\/title>\n<meta name=\"description\" content=\"ImpacTech believe the challenge of effectively processing data through AI and predictive analytics will define the success or failure of companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.impactechs.com\/companies-that-fail-to-automate-now-are-going-to-get-left-behind\/\" \/>\n<meta name=\"twitter:card\" 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