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Article DIGITAL TRANSFORMATION

IT Governance: the challenges of IT and business leadership in the era of digital transformation

Improving the performance of IT as a business area is a continuous expectation from company management. In a world of digital transformation, business leaders are constantly faced with the challenge of implementing and using new IT (Information technology) and OT (Operational technology) tools with unknown opportunities and risks before making business decisions. Without clear, professionally based guidance and recommendations, decisions can have unforeseen consequences. Choosing the wrong technology, even a missed opportunity, can have a significant impact on the performance of a company's senior management.

Article DATA-DRIVEN SOLUTIONS

Leveraging corporate data assets is key to achieve strategic goals

It's a cliché to say that the oil of the age is data, yet there is an ever-increasing amount of data being generated at every point in business, and by characterising it, we can find, if not oil, then gold. In our country, we can observe that the maturity of IT systems supporting managers varies from sector to sector, with infocommunication, financial and logistics companies generating an incredible amount of data, but often the synthesis of information that can be easily used by managers is not, or only partially, done. In the case of agricultural and manufacturing companies, we see a generally lower level of development, with the exception of a few innovative companies, the development of data-driven management has only started in recent years.

Article DIGITAL TRANSFORMATION

Efficiency in practice: how can it work for us?

Why do tried-and-true methods not always deliver the expected results? Why do they work elsewhere but not for us? In Hungary, more and more companies are struggling to boost their efficiency, yet implementation often encounters significant hurdles. Thorough planning, IT governance tailored to company culture, and meticulous execution are all essential for success. Want to learn how to build effective IT organizational structures that stand the test of time? Read our article for insights!

Article Hot topics

How not to fail at Cloud Service Management - Part 1

What should companies look out for to avoid the pitfalls of cloud services? Cloud services pose serious challenges for businesses. It is crucial for companies to develop effective service management that enables them to take advantage of the benefits of the cloud. However, without proper processes, policies, analysis and communication, cloud strategies can easily fail and lead to dissatisfaction rather than the expected business value.

Article DATA-DRIVEN SOLUTIONS

Driven by data: the new era of the energy sector

Discover how data-driven approach can revolutionise DSOs and other operators of energy systems of large size and cost, optimising operations and reducing costs. The proliferation and deployment of new generation renewable energy generation alongside traditional assets has triggered a major transformation process within the energy sector, where the technology is changing, as is the business case.

Article Hot topics

Control of the Business Intelligence area in credit institutions

The National Bank of Hungary (MNB) imposes various data reporting obligations on credit institutions in the context of its supervision of the financial sector. These are required for the MNB's statistical activities (e.g. disclosure) and for the central bank information system. Extraordinary data reporting may also be required by an administrative decision, but there are also, for example, data reporting requirements imposed by EU legislation.

Article ARTIFICIAL INTELLIGENCE

AI-assistant – the Jeanne D’Arc of customer service processes

AI is one of the fastest growing focus areas for customer service development. According to Gartner, one in seven customer service interactions will be automated by 2027. There is a 14% improvement in the number of resolved cases following the introduction of generative AI, 35% for low-skilled agents. So it is clear that AI cannot be avoided when talking about the future of customer service. But what is the power of AI and what will it take to become a useful colleague?

Article DATA-DRIVEN SOLUTIONS

Data-driven Procurement strategies

As technology and data analytics capabilities continue to evolve, procurement departments in large companies are increasingly able to make more informed decisions than ever before. By analysing their data, companies can develop data-driven sourcing strategies that can revolutionise their procurement processes. In this article, we will walk you through what a data-driven procurement strategy is, illustrated with real-life examples and best practices. We will explore how companies can leverage their data assets to make more effective purchasing decisions and improve their bottom line.

Audio/video ARTIFICIAL INTELLIGENCE

Can we trust a company's decisions to artificial intelligence? Interview with Andor Havasi and Sándor Gáspár

The rise and conquest of artificial intelligence (AI) is experienced by everyone, from creative professionals through logistics and manufacturing companies to large enterprises and companies with retail chains.

Article DIGITAL TRANSFORMATION

Is there a need for a hospital reference architecture plan?

Is there a reference architecture for hospitals in Hungary? Since we can find no trace at all of any hospital reference architecture plan in our country, we conclude that none exists. If it does exist, it has been successfully hidden, so, unfortunately, it cannot fulfil its function. Anyone missing it? Do we need it? Although we cannot find a domestic answer, there are known attempts at international level.

Article ENTERPRISE TRANSFORMATIONS

Three shades of large company integration - Pitfalls of the best-of-breed approach

In the past 5 years, significant acquisitions and mergers took place in the telecom and banking sectors in Hungary. In the telecom sector, all major companies have been involved in acquisitions, while the public market has now become a three-player market. In the banking sector, there has been a partial portfolio swap in the region, with banks exiting markets that did not offer them economies of scale and looking for new acquisition targets in the region instead.

White paper ENTERPRISE TRANSFORMATIONS

The recipe for successful mergers and integrations

Do you still remember when UPC disappeared overnight? Or when you first heard about Hungarian Bankholding Ltd.? In the telecom and banking sectors, there were major acquisitions and mergers in Hungary in the years 2021-2022. Such transactions aimed at achieving cost efficiency, increasing market share, or acquiring new capabilities. And while to the outside observer these changes may seem to happen in a wink, integrations can take up to 1-3 years, even in a lucky scenario.

Article DIGITAL CITIZENSHIP

Is public administration winning the race against the competitive sector in digitalisation?

Digital transformation is the process when an institution or company, building on revolutionary, new digital technology and business opportunities, fundamentally redesigns its operations based on changed customer needs, and thus moves away from the constraints of traditional operations to provide better service and achieve price advantage.

Article ARTIFICIAL INTELLIGENCE

The role of artificial intelligence in digital transformation

For nearly 25 years, Stratis has been a strategic consultant and integrator helping Hungary's leading enterprises implement their digital transformation projects. We provide services primarily in banking, industry, telecommunications and energetics. Our activities pursued to help our clients can be divided into 4 main groups: management consulting, information and data management, IT- and professional management of complex, business-critical projects. Our strength lies in the fact that we offer data and consulting competencies from a single source. We not only understand the objectives and goals of senior executives, but can also "bring them down to earth" and make them a reality. In the paragraphs below, we give you a short account of this.

Article DATA-DRIVEN SOLUTIONS

Application areas of predictive analytics

In our previous article, we introduced the concept of predictive analytics and highlighted the benefits that forecasts can bring to companies. Now we give an overview of the sectors and areas where the use of predictive models has proven useful for data-driven operations and improving business performance.

Article DATA-DRIVEN SOLUTIONS

Data-based retail sales performance management

Data-driven business operations, data-based decision-making. More and more companies adopt this approach, as using artificial intelligence and properly collected, processed and analysed information enables, for example, more efficient, profit-oriented operation for a commercial network. However, retail sales performance management also poses a number of challenges. In today's article, we set out to explore these and show how our data-based solutions can deliver tangible business performance improvements.

Article DATA-DRIVEN SOLUTIONS

Predictive analytics - Looking into the future through data

"Data is the new oil in the 21st century!" A quote by British mathematician Clive Humby coined in 2006 has become a veritable buzzword in recent years. However, we should add that, like oil, data only has real value if we can make good use of the amount of information we gather. One of these uses is forecasting, a methodology known collectively as predictive analytics. In this article, we review what is worth knowing about predictive analytics and why it is important for companies.

Article DIGITAL TRANSFORMATION

What can a responsible company manager do when costs get out of control? - Rational responses to economic difficulties

Skyrocketing energy costs, soaring - and gallooping - inflation and out-of-control procurement prices are causing headaches for even the most accomplished business leaders. Everyone is looking for means and places to save money, to find ways to keep things running. In more and more sectors, the survival of companies is at stake. But the solution may be closer than you think. There is a huge potential for savings in corporate data assets and their proper interpretation. Did you know that data-based efficiency gains alone can be enough not only to survive, but even to grow in times of crisis?

Article ARTIFICIAL INTELLIGENCE

Case study: Intelligent corporate search engine

Machine learning-based modern text processing models have gained increasing popularity since 2019, as these solutions can semantically interpret bulk text and find connections in it. These models can be used for automatic keyword extraction, text categorisation, text generation, or even translation. By combining all these application areas in a single complex process, software can be created that can perform a complete processing and administration task fully automatically, without human supervision. In addition, such software can further assist in manual administrative processes by gathering additional information from the Internet or internal systems for the user, saving time and effort.

Article ARTIFICIAL INTELLIGENCE

Natural Language Processing (NLP) and overlaying knowledge management

NLP nowadays represents a significant segment of the artificial intelligence applications market. Just think of spell checkers, automatic response generation tools, or even translator programs. These are the applications that everyone encounters every day.

Article DIGITAL TRANSFORMATION

Optimisation - As a possible means to improve our efficiency, competitiveness and financial performance, it should not be underestimated!

As managers, we are responsible for ensuring the continued, profitable operation of our company, while steadily maintaining and continuously increasing its value and goodwill. What can we do if key performance indicators show that our company's profitability is deteriorating? How do we handle it when we are unable to make the major investments - expansions and developments - required to maintain or improve our company's position in a highly volatile or evolving market environment?

Article ARTIFICIAL INTELLIGENCE

Artificial intelligence benefits: Demand forecasting in retail

Nowadays, accurate and rapid demand forecasting is essential for the optimal operation of commercial companies, as it is the only way to compete with other industry branch players. Forecasting is also becoming increasingly emphasised in retail because any unusual, out-of-the-ordinary event, such as the vagaries of weather, can disrupt and profoundly upset supply chain processes. This is why companies at the forefront of digitisation have slowly but surely started to embrace next-generation technologies such as artificial intelligence and have gained a competitive edge in supply chain planning. But what exactly are the difficulties that can be overcome by using AI? In this article, we summarise the key facts!