From silos to success: iCore's vision for cross-functional data utilisation

21 May 2024

In the rapid development of a technology-driven economy, data has become the new oil, bringing along modern solutions targeting quality and efficiency of businesses across all industries. The importance of data has changed the way that companies think and operate, while also introducing challenges for traditional business models. For SCC member iCore, the winners of tomorrow will be those who prioritise data management and informed decision-making. 

The digital economy is largely made up of binary code and processing algorithms, all constituting the relatively new concept of ‘data’. From collecting consumer data, identifying patterns of behaviour, and receiving user feedback – data is a source of infinite potential. 

However, the way you work with data matters, stresses iCore. The sheer volume of it, coupled with its multiple originating sources and destinations, creates a technical difficulty for organisations to collect, analyse, and extract business value from it.

iCore has provided and improved business processes by enabling companies to harness data in new and innovative ways for over 20 years. Their vision came from recognising that data, process integration, and digitalisation cannot be isolated issues.

“One of our main objectives is to ensure that automation extends beyond the borders of the IT department, with the ambition to make the benefits of digitalisation available to as many individuals as possible. This will ensure that the right people have access to relevant data at the right time, enabling them to create value and make informed decisions” says iCore’s CEO and Co-founder Mikael Boquist.

Providing companies with an integration platform, iCIS, iCore makes it easy to replace one integration without affecting the others.

The journey to the UK
Since founding the company in 2001 and opening its first office in Sweden in 2006, Mikael, together with Co-founder Thomas Madsen, have established iCore as the premier integration specialist in the Nordics.

Recognising the potential and opportunity of the UK market, iCore opened their London office in 2017. Their UK journey began with the customer ESAB and continued with the growth of ASSA ABLOY, followed by a partnership with the Swedish e-commerce software company EPIserver, today Optimizely, and Maginus, which became their first official UK partner. 

Since then, iCore has come to have several customers across the UK and are active in sales, delivery, and support from the Swedish organisation. 

Facing the challenges in a data-driven world
While the data-driven landscape has created a need for optimised performance across all markets, it also presents new challenges. 

“The most common mistake is failing to think cross-functionally across the entire organisation. Important data should be accessible by several software applications,” says Patrik Kärrberg, iCore’s Regional Manager for the UK, Ireland, and Benelux markets.

“Companies should think about who else can benefit from their data and how they can incorporate that mindset into a data integration strategy. When data is not locked into separate silos it’s also easier to experiment with new technology, such as AI” he continues.

Another common mistake, according to iCore, is collecting too much data without a clear plan or strategy on how it should be used to create value. In a recent study, together with Radar, they found a clear correlation between mature organisations and business value.

“We saw a clear correlation between top performers and having a common data layer, with its functionality centered around this data layer. And the importance of having this cross-functional mindset as an integrated part of the culture. It makes a huge difference in delivering business value” says CMO and Co-founder Thomas.

In an economy where data plays a significant role, iCore highlights that businesses only utilise 20 percent of all the data they create. iCore sees this as an opportunity.

To implement a good strategy, iCore suggests that businesses should start with defining what data and information means to them, followed by clear guidelines for their usage and deciding how it should be capitalised to create business value. Then, think one step further – investigate if other parts of the company can benefit from the data, and in what manner. For iCore, fostering cross-functional collaboration which permeates the entire organisation is the key to success.

Looking ahead
Just like crude oil, data needs to be refined to have real value, and the future business landscape will be defined by those who recognise that first. Just like data, iCore is constantly evolving and adapting to the changing needs of customers, continuing their mission to help businesses navigate the data-driven world.