Surangana Sarathchandra, Chief Solutions Officer at Fortude, delves into why Fortude stands out in the global [CM1] [AR2] tech sector. He emphasizes that the company’s unique approach prioritizes strategies that bring genuine value to global businesses. By tapping into the benefits of enterprise automation, and analytics, Fortude aligns its growth with the ever-growing demands of digital transformation. Globally, the firm is recognized as a trusted digital advisor for delivering tangible results through the seamless integration of technology, people, and processes. Rather than merely following transient tech trends, Fortude directs corporate narratives, focusing on genuine business needs, positioning itself as an essential voice in boardroom discussions worldwide, Sarathchandra explains in this interview:
How has Fortude grown, and what has driven this growth?
Fortude has witnessed significant growth in the post-pandemic period, primarily driven by overseas and Sri Lankan digital markets. The surge in demand for digital transformation is attributed to a broader understanding of its advantages in enhancing business efficiency.
This realization among businesses has favourably impacted companies like ours that specialize in providing enterprise and digital solutions. As a result, we have seen an increase in requests for new offerings and enhancements to existing ones. Our growth is not restricted to one region or industry; it is widespread. For instance, while the US fashion industry faced challenges, the food & beverage and distribution sectors expanded, generating business opportunities for us. In Australia, despite an initial slowdown due to pandemic restrictions, there was an accelerated growth in recent months. Certain Asian markets have even exceeded our growth expectations, especially in the digital domain.
Moreover, ERP vendors, including tier-one providers like Infor M3, once catering mainly to large organizations, have now introduced solutions for small to mid-market businesses. This shift has broadened our potential client base significantly.
From an internal standpoint, Fortude has evolved in its sales and marketing strategies. Earlier, we primarily consisted of functional consultants and technical experts, often overlooking the importance of lead generation and content creation. Now, we prioritize these aspects, enhancing our market visibility.
We are in the midst of a global downturn, which must be impacting Fortude’s global operations and teams across four continents. How has Fortude’s leadership team responded to the challenges over the last 16 months?
Amidst a global downturn characterized by challenges like rising energy prices and food insecurities, the digital technology space is experiencing growth. While our business opportunities have increased, the downturn has made resource allocation tougher due to escalating costs. Operational costs, including salaries, energy, and transport, have surged, further intensified by the situation in Sri Lanka, affecting overseas business costs.
Despite these challenges, the digital services market remains unsaturated with ample opportunities. Our primary hurdle is the impact of the downturn on individuals. We are exploring hybrid delivery models and productizing services to curb operational expenses. Talent retention, especially in Sri Lanka, is another concern.
As many professionals move abroad, we have expanded our resource pool to India and other regions. Additionally, many who have migrated continue to contribute from our international offices
Historically, we have been a talent absorber, hiring skilled professionals. However, over the last three years, we have not only increased our resources, we have also become a talent supplier. As a recognized entity with a vast consultant base and expertise in Analytics, BI, and AI, many clients now seek our talent. We are evolving from merely consuming talent to producing and providing it for wider industry use.
Companies in the tech space are pressured to build a ‘culture of innovation’ – however, does this ‘one model fits all’ approach work for all tech entities? What is the culture within Fortude?
Fortude isn’t traditionally viewed as a hightech company. Tech-savvy graduates from local universities often lean towards cutting-edge development houses. However, the industry is shifting. Bespoke software demand is waning while enterprise solutions gain traction. These offer broader benefits for both clients and employees.
Our innovation is unique. Instead of inventing new products or technologies, we focus on ‘adjacent’ innovations, enhancing the enterprise solutions we deliver, such as ERPs or data analytics. Understanding customers’ challenges is crucial for this approach. To foster this understanding, we invest significantly in training, both in-house and externally. Approximately 70% of our team directly interacts with customers, providing them firsthand insights into the issues businesses face. This direct interaction is vital, as it influences our incremental innovation.
We have realized that instead of launching entirely new products, it is more beneficial to make continuous improvements. Our policies support and reward these innovations, both financially and through recognition. The insights that drive these changes largely come from our team members who encounter day-to-day challenges customers face.
Understanding problems is pivotal to innovation. While some industries in Sri Lanka are mature, such as manufacturing, others need global exposure to grasp the full scope of challenges, creating opportunities for innovative solutions. [AR3] [AR4] [CM5] [RP6] [CM7]
How will Fortude continue to shape the corporate narrative in boardrooms across the world?
I firmly believe that Fortude is reshaping corporate narratives globally because, in an era where businesses aim to narrate their impact and vision, our digital solutions stand front and centre in helping them craft those stories. For instance, in sectors like food and beverage or apparel and retail, narratives around fast fashion, transparency, and sustainability become more robust when augmented by digital solutions. With a focus on sustainability, our digital services enhance traceability, reduce wastage, and improve visibility throughout the manufacturing process.
When Fortude collaborates with its customers, we aim for longevity, seeking to become not just service providers, but trusted digital advisors. Instead of monopolizing solutions, we often connect businesses with other partners who can best serve their unique needs.
Speaking of our growth ambitions, we are poised for significant expansion. We aim to break the growth ceiling common among Sri Lankan tech firms. Our strategy emphasizes long-term relationships, with half of our revenue coming from lasting partnerships. Instead of chasing trends, Fortude focuses on solving real business problems using mature technologies that offer genuine value.