In little over a year, Lumanorth has quickly gained traction in the northeast tech industry, doubling in size and attracting a host of prestigious contracts. Although a relatively new business, founders Dinesh Kumar and Richard Coates have long been part of the tech scene in the region. Their gaming heritage has proven to be a formidable platform for establishing and growing a number of successful businesses.
Now, 20 years on, with Lumanorth, the team is taking on new specialist software challenges, working closely with big name clients to develop state-of-the-art software solutions to improve experiences and processes for customers and colleagues. Founders Richard and Dinesh discuss when specialist software can give your company the edge...
When might a company explore new software solutions?
There is often a catalyst to prompt exploring new software — typically a need to be more competitive or to improve ROI by improving operational processes or by enhancing the customer experience and/or employee experience. One of the problems companies often face is knowing where to start – that is in being able to realise that current practices have either become outdated or could be radically transformed.
What would you advise?
It is very easy for companies to become dependent on their current software systems and for that software to be entrenched in the organisation, often presenting switching costs, which can act as barriers to replacement. What is not so common, is for organisations to review their current processes to identify where there are opportunities for improvement. We would advise regular technology reviews to take place.
What would you look for in a technology review?
Most importantly, you should look for any failings with existing tech. Have processes become overly complex or cumbersome? Often one of the biggest gains with new technology is being able to smooth workflows. It is also important to keep abreast of emerging technology. It is highly likely that there is a new tech solution available that could be a good fit for a company, but they are unaware of it. It is worth talking to specialist software firms who can help offer insights.
What are the signs of failing/outdated tech?
Most notably, processes become slow, internal data and information become disjointed, there are gaps in the process and often there is little by way of feedback/reporting or company insights offered as part of the software/system.