The experts at Innovation Vista have brought our expertise together to collaborate on a unique approach to technology that goes beyond traditional goals for IT, to Drive Revenue with Technology.
Traditional IT strategies yield many efficiencies for organizations which invest time and effort into them. Processes are automated, systems are implemented to gather key organization data, and reports are standardized to analyze and communicate that data. These are valuable gains for an organization, and many of these capabilities have risen to the level of requirements for operating in the 21st century. Efficiency is nice.
But Innovation Vista is not satisfied with the same IT approach most industries have followed since last century. We Innovate Beyond Efficiency.
Our evolutionary approach ensures that prerequisite phase(s) are completed in succession. As much as business leaders want to jump immediately into “Digital Transformation” (and as much as many consultants are happy to sell services to do so), our experience tells us that companies which aren’t ready with the underlying IT capabilities and stability are simply not ready.
As with all worthwhile things, creating revenue or disrupting your industry with technology capabilities require significant effort and preparation. We seek to Build Trust First, and to maintain that trust throughout the journey as your trusted IT strategic advisors.
Each of the elements of this approach is critical to success of the overall process:
- Build Trust First is crucial to ensuring that plans are based on accurate facts, and that the entire organization will engage fully in teamwork to achieve the vision
- Assessing IT in the context of the Business is a key information gathering phase absolutely critical prior to setting any strategy in place
- IT & Digital Strategy is the joint formulation of the Innovation roadmap that maximizes IT’s impact toward the business’ overall strategy
- ROI Investments represent individual projects which will each stand on their own for ROI/benefits, but also move the organization and IT toward the vision
- Stabilize IT is our first strategic milestone. Your organization may well be past this one, but we don’t take that for granted
- Rationalize IT is a collaborative process examining the economic basis of each IT policy, system, group, and vendor in a cost/benefit analysis
- Monetize IT becomes possible when Innovations begin to contribute to revenue, either accelerating the existing revenue cycle or creating brand new stream(s)
- Digital Transformation is a common term in business usage today; in our model it really consists of both Monetizing IT and then Disrupting the organization’s industry
- Disruption occurs when a company’s Innovation has so changed its cost model, supply chain, &/or delivery chain that it can rewrite the economic rules of its industry, enabling it to serve customers in ways or at price-points that its competitors cannot sustain, leading to enormous growth in market-share.
We’ve built the model above to reflect our approach to Innovation Consulting, but we absolutely know that every client’s situation is unique. Indeed, knowing how to tailor or adjust the model for each client is perhaps the most critical value our collective expertise brings to Innovation Vista’s engagements.
Contact us now to begin a dialogue about how we can enable your organization to Innovate Beyond Efficiency…
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 [...]
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 [...]
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 [...]