Tieto envisions a future in which data is the biggest driver of individual, societal and economic value. The company seeks a pivotal role in this change, and announced a new strategy in 2016 to pursue the opportunities of the future data-driven world.
With solid execution of its prior strategy, Tieto laid a strong foundation for accelerating innovation and growth in the Nordics and beyond in a time where each organization has the need and opportunity to both drive efficiency and co-innovate new services and business models.
With its new strategy for 2016–2020, Tieto aims to become its customers’ first choice in their business renewal as the leading Nordic software and services company. The strategy builds upon a strong foundation of customer insight, own industry specific software, growth investments, full life-cycle services from advisory to managed services, industrialized service delivery and proven execution capability.
Tieto has made the following strategic choices:
1. Services to accelerate customer value
Focus on services to help its customers succeed in their dual agenda - simultaneously drive efficiency in their current operations and innovate new businesses and business models. Tieto aims to
play a larger role in customers' value chain and support their growth, by investing into pre-packaged industry solutions. These solutions build on the competitive industry specific software, deep industry insights and partnerships – industry solutions.
help customers drive higher speed and efficiency in their business processes, through modernizing their technology landscape, industrialized service delivery and as a service business models – technology services and modernization.
co-create new solutions and innovate data-driven business models with customers and partners – new data-driven businesses.
2. Nordic leadership and international expansion
Focusing on Nordic enterprises and the public sector, Tieto seeks to further increase its market share in the Nordics. In parallel, Tieto accelerates international expansion of selected industry solutions that are proven in current markets. Large-scale expansion to adjacent markets is considered long term.
3. Openness and co-innovation
Tieto invests in work practices and technologies to actively co-innovate with partners, customers and enable global talent networks. This will ensure a faster time to market for solutions, increase development opportunities for employees and agile access to global talent and competencies.
The strategy will be implemented in phases, and the focus in 2016 was to accelerate capabilities in Sweden along with the selected industry solutions international expansion. During 2016, Tieto also realigned its organizational structures to the renewed strategy and choices. The strategy execution focus for 2017/2018 will be ondriving innovation through accelerating and commercializing data-driven businesses and to operationalize open talent and innovation ecosystems as well as scaling chosen industry solutions internationally. Towards the end of the strategy period larger scale market expansion will be evaluated.
Read more about the 2016 highlights.