We are delighted to announce that CoStrategix won the 2019 Innovation and Technology award for “Best IT Services Company” presented by the Business Courier.
The program recognizes companies that are transforming how we use technology while introducing innovative products and services in Greater Cincinnati.
Here’s our CEO Nandagopal Jayaram’s interview published in the Cincinnati Business Courier:
CoStrategix works with midmarket companies to help them incorporate data and digital strategies into their business models.
The company differentiates itself by helping companies determine how digital technologies can help them achieve their strategic objectives and then implementing programs to achieve those goals.
“There are so many new technologies and so much jargon around AI, data analytics and machine learning,” said CEO Nan Jayaram, who founded the Sycamore Township company in 2006. While companies are accustomed to using their existing systems as decision support tools, they often don’t understand the potential to use new technologies as predictive tools.
“Some of these technologies are so profound that any company today, no matter what industry, can use them to revamp their existing business model. They’re game changers,” he said. Determining how to most effectively employ a tool with that potential requires a lot of strategic insight.
Unfortunately, Jayaram said, many midmarket companies, while recognizing the need for digital, don’t know where to turn for support.
“Companies are very clear that they need an accounting firm or legal representation or an ad agency, but when it comes to digital they tend to look to their IT teams,” he said. But even in large companies, those teams are often small and lack strategic focus. While there are a lot of digital companies ready to offer help, Jayaram said, too often “they talk about AI, but they aren’t very good at understanding it in the context of a customer’s business or how they will monetize it.”
CoStrategix works with clients to marry strategy with technology.
“We’ll come in to do a workshop with key decision makers to discuss what the leading-edge competitors are doing and to present our capabilities. There are a plethora of options, and we help them make choices based on their business needs.”
Having worked with clients to define their data and digital strategies, CoStrategix executes projects in the areas of data engineering, data science, artificial intelligence, application modernization, cloud, mobility and digital commerce.
Although CoStrategix has been around for 13 years, it has evolved and grown over time, shifting its focus from helping startups — it has worked with roughly 150 of them — to focus on middle market companies. Locally that includes clients such as Drees Homes and Medpace. But the company, which employs 17 locally and another 85 in India, is also growing and intends to add 11 positions in Cincinnati this year.
But perhaps the biggest change that has taken place has been in the marketplace itself, Jayaram said. Technological adoption is happening far more quickly than it did a decade ago.
“CEOs get it,” Jayaram said. “The idea that you have to change and digital is coming used to be met with skepticism. That’s no longer the case. Now companies are asking, ‘How do we get started?’”