Nov 23, 2020

Software dominates Deloitte Technology Fast 500 for 2020

Paddy Smith
2 min
deloitte fast 500
In its 26th year the North America-based list of innovation, entrepreneurship and growth gives a window into technology trends across the sector...

Biotechnology, pharmaceutical and software companies have taken every spot in the top 10 of Deloitte’s annual Technology Fast 500.

The list, which rewards technological innovation, entrepreneurship and rapid growth, has three Californian companies in positions one to three.

Seventy-three per cent of the companies in the list were private companies, rising to 80 per cent in the top 100.

Deloitte Technology Fast 500: top 10


More than four-fifths of all companies had received venture capital or private equity funding in their history; 119 had a growth rate of more than 1,000 per cent.

Sub-sector representation across the Deloitte Technolgoy Fast 500 was dominated by software and software as a service (SaaS), with 71 percent of companies in the field. Biotech and pharma made up 14 per cent of the list, with five per cent or less for digital content, media and entertainment; medical devices; electronic devices and hardware; communications and networking; and energy technology.

The domination by software rose by three per cent on last year’s list, with companies in the sector predominantly in digital platforms (33 per cent) and enterprise infrastructure (23 per cent). Fintech (15 per cent), data analytics (12 per cent), security (11 per cent) and consumer software (six per cent) made up the remaining 44 per cent.

However, the three-year median growth rate figures showed that companies in electronic devices and hardware had performed best, averaging 683 per cent. That was followed by energy technology (525 per cent), software and SaaS (465 per cent), biotech/pharma (426 per cent), communications and networking (378 per cent), medical devices (370 per cent) and digital content, media and entertainment (292 per cent).

'New categories of innovation'

Mohana Dissanayake, partner, Deloitte and Touche, said, “Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive. We extend our congratulations to these well-deserved winners – who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.”


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Jun 13, 2021

Harnessing APIs to unlock and operationalise your data

Paul Crerand
4 min
It’s widely accepted that unlocking insight from data is key to driving successful digital transformation and competitive advantage

Data is the fuel that powers modern businesses. It’s widely accepted that unlocking insight from data is key to driving successful digital transformation and competitive advantage. Yet the gap between understanding the importance of data-driven insight and being able to achieve it remains stubbornly wide, as critical information remains locked away in silos. To overcome these challenges, businesses must try a new approach. API-led connectivity offers a reusable, standardised way to integrate data across multiple platforms, systems, and applications. When done right, it can be the fast-track to IT and business teams productivity, innovation, and growth.

A data explosion

The past decade has seen a data explosion. Analyst firm IDC predicted that over 59 zettabytes (ZBs) of data would be “created, captured, copied, and consumed” in the world last year alone. In the next three years it’s predicted to continue growing at a CAGR of 26%, during which time more data will have been created than during the past 30 years. At the top of any CIO or business leader’s wish-list is the ability to extract insight from these vast troves of information in order to make more effective decisions. According to McKinsey, data-driven companies are 1.5 times more likely to report revenue growth of greater than 10%.

Unfortunately, just like much of the population for much of the last 12 months, data is locked down and isolated. MuleSoft’s 2021 Connectivity Benchmark report reveals that data silos and existing IT infrastructure are making it difficult for most firms to integrate new technologies and make changes to IT systems and applications. In fact, currently less than third of enterprise applications on average are integrated, so there is still significant room for improvement. Those organisations that are able to connect the dots between their data stand to realise increased customer engagement, business transformation and innovation benefits.

Journey towards API-led integration

Legacy custom code point-to-point integration may have been fine a decade ago when enterprises ran relatively few applications. But today’s businesses need something altogether more agile. Point-to-point can be expensive and complex, which means IT ends up spending too much of its time on maintenance and not enough on innovation.

This is where APIs come in, offering a more seamless and cost-effective way to drive integration through discoverability, self-service, and reuse. Rather than building the same point-to-point integration for use in 10 different projects, which requires each to be maintained individually as unique sets of code, a single API can be developed to be reused across them all. An API-led approach therefore means companies only have to unlock each data set just once to empower business teams across the organisation to use that data in their own projects.

The value of this approach can be extended even further with today’s low-code tools, which support drag-and-drop integrations. This can help to ease the burden on IT teams and empower business users to deliver their own integration projects.

The LendingTree experience

One company that has driven major improvements through reusable APIs is online loans marketplace LendingTree. Originally its 16 different business units were operating with siloed, incomplete data, meaning 360-degree customer insight was impossible—affecting sales and the end-user experience. The firm was not able to capture or analyse call centre data, limiting its ability to improve experiences for its customers.

Using APIs to draw in data from multiple systems and databases in real-time, LendingTree was able to consolidate its customer data on Salesforce to create a single source of truth for cross-departmental teams. This approach empowers service agents by giving them access to individuals’ loan application history from a single console, drastically reducing the time it takes them to consolidate various sources of customer data. As such, its API-led integration approach has allowed LendingTree to free up time and resources to launch new capabilities faster.

The future’s digital

Organisations have been affected in many different ways by the COVID-19 pandemic. But across the board, the desire among business leaders over the coming months will be to emerge from the crisis stronger than ever. Data-driven insight will be vital to this achievement, as businesses push ahead with digital innovation. API-led integration can help them to ensure that data strategies are long-lasting and sustainable, paving the way for long-term success and a brighter digital future.


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