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Monday, 17 July, 2023

Driven by Data: Insight into the culture of innovation at data specialist Eucon

The Eucon Group is one of the companies demonstrating foresight in challenging times. The digital pioneer has a track record of more than 25 years of successfully supporting digital transformation in the automotive, insurance, and real estate industries. Its business model is based on data and the intelligent use of it. Yet how has the international data specialist managed to anchor ongoing innovation in its organization and thereby shape the future?

First published on handelsblatt.com

Structured data is at the heart of innovation: Data is used to generate ideas, evaluate them, and drive them forward.

Innovation is about generating added value

Disruptive innovation has been ingrained in Eucon’s data-driven corporate culture since its very inception. This culture is built on qualities such as openness, courage, thought leadership, and team spirit that unite all employees – along with their passion for data. It is this spirit that led the Oosenbrugh founding team to a pioneering achievement for the company back in 1997 when they launched the first electronic auto parts catalog, paving the way for Eucon to play a key role in shaping data-driven automation in the automotive aftermarket. After setting the milestone for business growth, the Eucon team gradually carried their innovative strength over into the insurance and real estate industries.

A major factor in the success of the expert for data-driven decision-making and process intelligence is its focus on implementation. Eucon is convinced that it is not merely a matter of generating ideas, but above all of transforming them into marketable products. Therefore, solutions are jointly developed in close cooperation and constant exchange between the internal team and the customer. At the heart of all projects is the benefit to customers and their need for ever greater automation and simplification of processes. This inspires enthusiasm to embrace change, but above all generates added value: making smart, data-driven decisions that ultimately benefit all company stakeholders. In addition, the close involvement of customers in the innovation process helps to continuously identify potential for optimization and to further develop solutions.

The spirit of innovation ensures that companies are always one step ahead

Eucon always keeps an eye on technology- and market-driven changes to be able to continue shaping the future. “We are active in scouting technology trends, selectively collaborating with universities, research institutions and students to this end,” says Moaffak Assassa, CTO of Eucon Group. The opportunities derived from these ideas provide the impetus for new innovative initiatives. The established bottom-up approach that Eucon applies to simultaneously collect and evaluate market-driven changes, ensures that innovations are developed directly at the touchpoint of the market, where relevant knowledge is actually rooted.

“Innovation starts in people’s minds. For us, it is less a technology than an attitude that we adopt when approaching our projects,” says Moaffak Assassa. “Only when experts and employees in companies are open to new ideas and help to support them can we successfully further develop them into new products.“ Rigid structures or strict top-down approaches would only block these processes. That’s why Eucon encourages its employees to take action and raises their awareness of a positive culture of error. This approach has made the company successful right from the start. Today, the service provider is considered a digital pioneer in its three core industries.

At a glance: The Eucon Group and its products for its three core industries

Eucon develops data-driven solutions based on technologies such as Artificial Intelligence (AI) and Robotic Process Automation (RPA). In total, more than 500 employees work for the Group worldwide. Around 250 customers from over 80 countries already rely on the products of the innovation leader around the global automotive aftermarket, the insurance claims process and real estate management.

In the automotive aftermarket, Eucon is a leading international provider of market information and data-based solutions for the product management of parts manufacturers. The systems are used by both original equipment manufacturers and automotive suppliers who seek to define and improve their aftersales strategy using data-driven processes. The combination of billions of reliable market data, leading technologies and industry expertise makes Eucon a unique and sought-after partner in the global automotive sector.

In the insurance industry, Eucon implements solutions to analyze, automate, and accelerate the entire claims process, from claims reporting to AI-supported verification, control, and automated processing to final negotiation. With its aggregated products, Eucon enables significantly simpler and faster processes, cost benefits, and higher productivity for insurers. All of this pays off in making the moment of truth, the claim, a seamless and positive experience for both the insured and staff alike.

For real estate companies and corporate real estate managers, Eucon offers a platform for data-driven property management. The use of various quality-assured sources thereby enables fact-based real estate management. The central data platform creates added value by paving the way to a digital twin of the building, especially in terms of consumption and a full cost overview. This enables companies to make informed investment decisions and increase building profitability. At the same time, rapid efficiency gains are achieved in invoice processing and internal and external cost control is improved.

Eucon is continuously developing new market-driven products based on extracted data, the most recent example being SmartSustain. At present, real estate companies still spend a lot of time manually entering consumption data from bills and utility portals into Excel spreadsheets. This is exactly where the solution comes into play, by extracting data from documents such as utility bills and energy certificates. SmartSustain supports the real estate industry in making sustainable decisions based on transparent data to reduce emissions and energy consumption in buildings in a targeted way. In addition, data transparency creates a more informed basis for investment decisions to increase real estate profitability.

Furthermore, real estate companies can save up to 30 percent in costs and free up valuable staff capacity – compared to manual updating of Excel spreadsheets – by digitalizing the data entry process. The reclaimed resources can then be invested in concrete measures to increase the sustainability of real estate. The SmartSustain product thus not only ties in with Eucon’s existing solutions, it also focuses on a particularly urgent challenge facing the real estate industry: decarbonization of the sector.

On the whole, the Eucon Group is a great example of how a company can grow into a specialized, internationally recognized and multiple award-winning digitalization partner through courage, agility, team spirit and innovation.