The experts at Innovation Vista have brought our expertise together to collaborate on a unique approach to technology that we call Innovating Beyond Efficiency.
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 before moving on to the next. 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…
No matter where the vision for innovation comes from, the board and CEO must support and evangelize transformation for it to succeed. If the board and CEO don't fully grasp why the transformation is needed, or how it should be achieved, it can bring about more harm than good. They would be better of pausing or canceling the project until everyone can get on the same wavelength. The worst whiplash an organization can receive is a "transformation" project being pushed by IT which doesn't have the support of top leadership. Why? Because the rest of the company will take their lead on how to respond—how seriously to take the change—from their top leadership. If they see shoulder shrugs, they may shrug too and won’t be fully committed to getting on board. Just as importantly, the support from top leadership will deeply impact the behavior of those pushing the change—in IT [...]
Do you have a vision for the potential of technology to impact your company's future, but lack the details to make specific proposals? Part of leadership is seeing the need for change and taking steps to share and implement this vision with your team. The first step doesn’t have to be perfect or huge—you need not jump into the deep end of the pool right away, but it's critical at least to acknowledge that you need to learn how to swim. No matter how your organization uses data—processing, analyzing, or simply entering it and viewing it on a daily basis—there is a high likelihood that some kind of digital technology can take your efforts to the next level. Initially, you may not have clarity on how automation, AI, or analytics will play a part, but neither is it a requirement for someone to know all the strokes before deciding they [...]
Tech company startups are the darlings of the press and of venture capitalists. It certainly seems that tech companies dominate the list of "Unicorns" and top IPOs from the last few decades. Their pace of revenue acceleration (though not necessarily usually earnings) are breathtaking - at least for the few who make it "over the hump" to reach critical mass. But these are far from the only startup businesses where key IT decisions are needed. In non-IT startup companies, the landscape of tech choices is different, although potentially just as impactful on the company's chances of success. Tech isn't their product, but in many cases it may make up a significant part of their engine (there is a spectrum of IT impact, of course - that's one reason why "It Depends..") Interestingly, from the myriad books on the topic of startups pumped out of publishing houses these days, very few [...]