With Ülemiste City Future Forum 2025 on the horizon, we’re collecting insights from our sponsors and partners on building strong businesses. Tarmo Toiger (Partner, Business and Technology Transformations) from KPMG Baltics shares his formula for sustainable growth and success.

What fundamental shifts must businesses make today to build a solid foundation for the next decade? 

To build a solid foundation for the next decade, businesses must undergo several fundamental shifts. 

Firstly, embracing digital transformation is crucial. This involves integrating advanced technologies such as advanced artificial intelligence, more simple machine learning models, and the Internet of Things into their operations to enhance efficiency and innovation. 

Secondly, prioritizing sustainability is essential. Companies need to adopt environmentally friendly practices and focus on reducing their carbon footprint to meet the growing demand for sustainable products and services. Lastly, fostering a culture of continuous learning and adaptability is vital. This means encouraging employees to upskill, especially considering declining demographics and need to work longer and reskill regularly to keep pace with the rapidly changing business landscape.

What has been the most game-changing innovation or strategy that helped your company or team to reach a breakthrough? 

One of the most game-changing innovations that helped our company reach a breakthrough was the implementation of AI-driven analytics. This technology allowed us to analyze vast amounts of data quickly and accurately, leading to more informed decision-making. By leveraging predictive analytics, we were able to identify trends and patterns that were previously unnoticed, giving us a competitive edge. Additionally, adopting agile methodologies in change and project management processes enabled us to respond swiftly to market changes and customer needs, further driving our success.

What is the biggest challenge in turning great ideas into impactful execution, and how do you overcome it? 

The biggest challenge in turning great ideas into impactful execution is often aligning the team with a clear vision and strategy. Estonian businesses are coming from small market, low demand environment. Only viable strategic imperative for Estonian businesses is export. To be ready for export, many tasks need to be executed: proper business planning and market analysis, product and service design and flexible operative model. To overcome this challenge, businesses need to focus on maintaining open lines of communication, setting measurable and achievable goals, and providing regular feedback. By fostering a collaborative and supportive work environment, we can turn innovative ideas into successful outcomes.

Collaboration is key to scaling success. What’s one partnership or community-driven initiative that has created significant synergy and shaped your company’s journey?

Collaboration is indeed key to scaling success. One partnership that created significant synergy and shaped our company’s journey was with a local start-up community. This collaboration provided us with access to cutting-edge technology, mentorship from industry experts, and a network of innovative thinkers. Using KPMG-s tech incubator’s resources and support were instrumental in accelerating our product development and go-to-market strategies. Additionally, participating in community-driven initiatives, such as industry conferences and hackathons, allowed us to exchange ideas and best practices with other professionals, further enhancing our innovation capabilities and market presence.