Tom Walton, Director at technology consultancy, Burendo, shares how operators can achieve sustainable profitability with learnings from other sectors
Operators who are merging and acquiring other businesses, launching new products or even integrating third-party technologies, can find themselves navigating complex internal processes. It is a complex large-scale challenge. Where M&As are commonplace, brand consolidation can be critical when securing sustainable profitability while planning for higher returns in the future. Within the emerging LatAm and US markets, acquisition remains a key focus. A common issue, regardless of geography, is the challenges presented by outdated or fragmented platforms and systems, a major obstacle in the growth trajectory.
In many cases, fundamental changes in how the organisation functions: its people, processes and technology holds the key to better value, higher profits, operational efficiency and reduced risk. By addressing these complexities with proven experience, technology consultants can support operators to be successful in their strategic initiatives.
Agility in competitive markets
To remain competitive in an ever-changing market, operators must move fast and with agility to refine their offering. A constant eye on retention, acquisition and regulatory changes is paramount to avoid financial impact. Despite this risk, research conducted by Accenture in 2022 found that 95% of B2B and B2C C-level executives believe their customers are changing faster than they can change their business, indicating most operators risk falling behind. This poses the question of how this can be supported.
The value of technology consultancies is in enabling businesses to extract greater value from existing resources through a confident understanding of what good looks like. Bringing external ideas gathered through experience, exemplary resources from process to people, can demonstrate what good looks like. More importantly, it shortens the timeline to achieving real goals in the organisation. Being under resourced or lacking the skills needed across these challenges makes it difficult to gain an overarching perspective particularly within a siloed approach.
At Burendo, we leverage more than 40 years of cross-sector experience. We are not only working with some of the biggest operators in betting and gaming, but partner with other highly regulated industries including finance and healthcare. We have helped operators across many initiatives which includes accelerating project delivery by 97% on average. We pride ourselves in ensuring we leave a lasting positive impact on the culture, enabling our partners to be empowered to carry on our work.
The retention battle
Many operators are too busy with day-to-day tasks or overwhelmed with where to start when it comes to transformation and building a cutting-edge user experience. An example of the gap between capacity and demand is the rising popularity of in-play betting. During live sports, the speed in which players can find and place their bet is critical. Here, streamlined processes that allow for quick innovation will correlate with customer satisfaction, resulting in higher retention rates.
A fresh perspective for lasting change
A successful approach to optimisation requires taking the challenge and viewing it from an experienced and innovative angle. Our partners truly benefit from best practice and valuable lessons derived from other sectors. Through experience we have found that these challenges are not exclusive to betting & gaming and so the ability to apply these learnings drive success.
Managing complex systems and large volumes of data is a common obstacle. By applying these cross-sector principles through working with technology consultants, operators can gain valuable insight into re-engineering platforms and the skills needed, to meet both current and future demands.
Building exceptional, scalable and adaptable architectures ensures that businesses can continue to grow and evolve as the industry changes. This forward-thinking approach positions operators ahead of the curve, meaning they are poised for success in the years to come and have the agility to address any challenges or opportunities that arise.
Creating lasting change requires more than just solving immediate problems. Our goal for our clients is to maintain high levels of efficiency long after an initial transformation is complete. By empowering teams to implement and sustain improvements, operators can maintain continuous growth and unlock growth worth tens of millions of pounds, far outweighing their cost of delivery.
The focus must now shift to building stronger, more Agile organisations that can adapt to changing market conditions. Sustainable efficiency enables operators to optimise time-to-market, improve platform performance, and manage resources more effectively, creating a foundation for long-term growth.
About Burendo
Founded in 2018 and with offices in Leeds and London, Burendo is an award-winning, consultancy delivering stand-out products and services through technology. We partner with organisations to accelerate organisational value delivery and transform customer experiences.
We are pragmatic thinkers and doers who understand the operational world of organisations and customer demands. We work as a partner to give our clients the latest ideas, tools and techniques to deliver effective results that build long-term value.
For more information, you can visit the Burendo website: www.burendo.com
If you have any questions, please contact Kate Smith, Senior Digital Marketing Executive by email: [email protected]
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