Best Tech Strategy Consulting

Innovation

Business Impact – the True North for Innovation

There is a lot of hype within the business sector around emerging technologies. Talk of finding new, creative ways to solve business challenges never fails to incite a buzz within organizations, for good reason. With the right compass heading, technology can sustain or change a company’s culture, and many new technologies are emerging that promise a significant impact on business over the next few years. At times the excitement is about the technology and not its business impact Innovation is important, and powerful, and impactful, but only if it creates real business results. Without the right compass heading, forward motion is NOT progress but only wasted effort and time.  Likewise, innovation for its own sake (outside of a pure research context) is often just a drain on time and money. Instead of seeking the latest technology for its own sake, an assessment of need & opportunity is incredibly important. Innovative [...]

Gold Nuggets of Data all over the Ground

Increasingly, how an organization views and uses their data determines their level of success, and therefore the value of the enterprise. Data can be as valuable as gold nuggets for companies, but too often it’s ignored--“left on the ground” rather than mined, gathered, and inventoried as a strategic asset. Gartner research indicates that by 2021, the vast majority of stock analysts will include “data” components in their corporate valuation models for how much structured information each company possesses and how strategically they use it.  This fact will surprise few.  And yet despite this being a well-known fact, Forrester estimates that between 2/3 and 3/4 of corporate data still goes unused in any capacity for analytics.   Care Must be Taken to Protect Your Customers’ Privacy No doubt your organization has contractual obligations and has made promises (explicit or implied) to your customers to protect ALL data which, if released, could [...]

JUST Keeping the IT Lights On = Awaiting Disruption

Is your IT just “keeping the lights on”? i.e. Are you just waiting to be disrupted? (Or did COVID already do that?) Don’t get me wrong – keeping the lights on, avoiding security breaches, even creating organizational/margin efficiency with IT – these are worthy goals. But they are TABLE STAKES in today’s pandemic economy; we go far beyond this in our proprietary Innovation framework: → STABILIZE your IT – yes “the lights need to stay on” reliably, securely, auditably → OPTIMIZE strategic trade-offs – get what you pay for, pay to your point of maximum ROIC → MONETIZE your IT – invest in tech capabilities to drive REVENUE & MARKET-SHARE Innovation Vista’s mission is to INNOVATE BEYOND EFFICIENCY for TOP-LINE IMPACT in midsize companies: → Taking market-share with tech capabilities your competitors can’t match → Enabling Digital connection not just in remote teams, but with your customers → Accelerating your [...]

The New Digital Normal of Customer Expectations

Digital disruption began well before we were all forced to practice social distancing, but recently it has advanced into sections of society that were previously slow to adopt. As more and more business is conducted online, especially from the palm of their hand, customers are beginning to distinguish between companies who provide an easy experience vs. those who have limited or no digital capabilities. This is really just a continuation of the evolution of customer preferences, and the rewarding of those who align with (or even drive) that evolution.  In the not so distant past, we witnessed what can happen to a brand that does not respond quickly to customer behaviors. Customer battles were everywhere: Blockbuster vs Netflix, and every box store vs Amazon. Now, in the tenuous aftermath of the nationwide COVID-19 economic shutdown, we are seeing other sectors being challenged to make digital the new normal, including service, [...]

Escaping the Catch-22 of Post-COVID Digitalization

COVID-19 has escalated and turbo-charged digital transformation across the globe. Prior to COVID, many organizations planned to build out more options for their employees to be more productive by working remotely. They planned to create a way for customers to interact with them and buy from them online, and allow for their management teams to have dashboard views of their internal productivity and customer interactions. Most planned for these enhancements to be phased in over the next few years. Now digital transformation is a necessity for successful business in a post-COVID economy. Yet companies without those capabilities already integrated in will struggle to build them. With the onset of social distancing measures and state mandates for keeping business fronts closed, remote work has never been more essential. It's not just for the sake of productivity, but for safety--and ultimately, worker engagement. Success is now incumbent on a company's ability to [...]

Successful Leadership in the New COVID Reality

Successful leadership in the new COVID reality will require a new approach to overcome the unforeseen challenges presented by the pandemic. So many plans for 2020 have been paused or fully abandoned in the wake of more pressing concerns. Organizations must learn to adapt, to continue finding innovative ways to carry on, to begin looking ahead. Here are a few potential traps and ways to overcome them as leaders begin rising to the challenge:   COVID changed the landscape of many aspects of our lives. The world will no longer operate like it did prior to the arrival of this virus.  Leaders should challenge their assumptions, existing plans, and business models to consider what must, or should, be different now.  The future still remains uncertain, but it is certain that many aspects of life will not return to what they were before.  Creative contingency plans will help ensure that whatever [...]

By |2020-10-02T14:23:53-06:00April 13th, 2020|Innovation, IT Leadership|

Turning CRM Data into Deep Customer Insights

The world is becoming increasingly personalized.  Frequent flier numbers and customer membership programs enable companies to track consumers' buying patterns; social media platforms and digital marketing channels enable them to know even more about our preferences and lives.  The door has been opened to inappropriate uses of this information, as evidenced by the "fake news" and Facebook/Cambridge Analytica scandals from the 2016 election.  But far more commonly, companies are using customer data in legitimate to personalize their communications with customers, with significant results. Customers are happy for you to know about them According to Accenture, 83% of consumers are willing to share their data in order to enable a personalized B2C experience, and 91% say it actually impacts their buying habits.  For B2B purposes, companies have long known there is easy access to public data about them, so any gain in efficiency is welcomed from suppliers who make use of [...]

CRM Adoption Needs Good Leadership as Much as Good IT

Over 90% of companies with dedicated sales teams have licensed a CRM system, and yet far fewer of these companies believe their CRMs are strategic in their impact to the top and bottom lines.  Quora got double-digits responses to the question "Why do salespeople hate CRM?"  "Why do salespeople love CRM?" had not been posted as a question as of the time of this writing. Why is it so challenging to get sales teams to use CRM systems? Contrary to some other commentators on this topic, I don't believe the problem of low CRM adoption is due mainly to the systems being overly complex, or salespeople having limited grasp of software generally.  Don't get me wrong; some CRMs are no doubt too complex, designed by techies without sufficient input from real sales teams, etc.   There are over 300 different CRM systems in the market today, and no doubt some are [...]

What CXOs should know about Digital Transformation

Digital transformation is a buzzword which has crept into the language of business in recent years, and the definition of the term varies greatly. At Innovation Vista, we define “digital transformation” as the effort to use technology to grow revenue. Digital Transformation - IT strategy insights for CXOs Digital transformation is driven by a broader view of Information Technology than its traditional goals of increasing efficiency and automation to help businesses save money and boost productivity. Today, technology has advanced in ways that allow businesses to do much more than what was possible in the past. Even in its traditional scope, IT has become a major component of most businesses' success. Most corporate executives and C-suites are comfortable with it in this shape and size, but when there’s talk of re-envisioning IT, even with the promise of greater impact, CXOs can become understandably nervous. Hesitations on Digital Transformation One of [...]

Innovation – The Great Equalizer

For small and midsize companies competing against large competitors, it can often feel like they are set up to fail. The competitors may have stronger purchasing power, economies of scale, and lower cost of capital, making it hard for the smaller companies to gain any sort of an edge. But the innovation of new technologies is giving many companies hope that they can indeed compete with large competitors several times their size. Innovation is the key to balancing the scale of power. Despite their significant advantages in economies of scale, larger companies also have a liability which can become significant in the emerging Digital Age. Because of their size, large companies have many more layers of bureaucracy and formality. Each of those layers in a larger organization is a delay in decision-making and innovation, particularly when the changes being contemplated are significant and impact a company's business model, pricing, supply [...]

By |2020-10-03T12:57:51-06:00October 26th, 2019|Innovation|