Ian Murrin is the CEO and Founder of Digiterre, a software consultancy that enables technological and organisational change for many of the world’s leading organisations – be they commodity or energy traders, banks or investment managers, digital disruptors or public service providers. He is a Technology entrepreneur and investor in both technology and media private equity ventures.
Ian told us about Digiterre’s beginnings, the influence of advancing technology and the future of the company’s work.
What inspired you to found Digiterre? Has it lived up to your expectations since it began?
In the late 1990s, I became increasingly frustrated with the poor quality available and the way it was being utilised in business. I felt a purpose to take technology and apply it to businesses to make them more successful, and to produce systems that people liked to use and made their everyday working day more enjoyable.
Have there been any significant technological changes that have affected the way in which Digiterre works and serves its clients?
It is not enough to have a fixed idea on methodology or technologies. Businesses have problems and they want them solved, so they bring us in as an organisation known for solving tough problems with technology. As open source solutions, more sophisticated front-end technologies, more flexible and powerful database solutions, AI, Machine Learning, Blockchain etc, needs to be a part of your arsenal and you need those skills within your organisation to most effectively solve business problems. It forces a business like ours to constantly be at the cutting edge, which is very exciting.
What are the most common, complex problems your clients face? What can you offer to assist them?
Organisations have built up significant data ecosystems which have not always been put together in a coordinated way. Data comes into systems and needs to be validated against often complex business rules. That data then needs extremely complex processes applied to it, often in real time situations, such as regulatory requirements. It doesn’t end there: after the enrichment step, organisations increasingly want extremely user-friendly reporting and user experience. We have a strong record in solving these problems, recently winning an award for a MiFID II solution with Man Group. These are common but very complex organisational problems and we are excellent at solving these.
What would you recommend for budding entrepreneurs looking to start their own business?
Have a good product that the market needs and get good people around you. You can have the idea when you start that you can do everything, but as you grow, this cannot be done, and you need people around you that you can trust. Be able to sell or have a very strong sales partner working with you.
What is the next step for Digiterre moving forward?
We have significant growth plans over the next 2 years. As a medium-term target, I am looking to build an organisation 3 times the current size with a commensurate rise in revenue. I am also looking to build beyond London and access resources in the North of England. We also want to broaden out into new sectors outside our traditional sectors of Asset Management and Energy, which will include Banking and Public Services.
Ian Murrin, CEO, Digiterre