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:
- Building 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. We assess IT in the context of the business in gathering information and insights prior to setting any strategy in place
- IT & Digital Strategy is the joint, collaborative formulation of the Innovation roadmap that maximizes IT’s impact toward the business’ overall strategy
- Stabilizing IT is our first strategic milestone. Your organization may well be past this one, but we don’t take that for granted
- Optimizing IT is a collaborative process examining the economic basis of each IT policy, system, group, and vendor in a cost/benefit analysis
- Monetizing 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. Reaching this level of impact is truly “beyond efficiency”.
- 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…
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, [...]
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 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 [...]