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 technology only benefits your organization if it provides real results in the form of increased revenue, market-share, cost savings, and/or improved quality.
Without the right compass heading, forward motion is NOT progress but only wasted effort and time.
Our initial step in assessing a company’s technology is determining if your current technology serves the needs of your organization. If a particular solution is working well, is affordable and stable, we will likely support keeping it, even if it’s not the most current available option. Why? Because it is basically impossible to have a positive ROI on spending money to arrive back at the same point one at which one started with the same or similar capabilities. Ask yourself whether you’ll rush out and re-roof your house if a new type of shingle is developed tomorrow… Not unless your roof is leaking, or if those new shingles have built-in solar capability or some other value-add.
And yet, year after year, many consultants and systems implementers make just these kind of recommendations. People with this mindset have lost their compass heading for IT in the business world. In the end this adds to business leaders’ frustrations with IT in general.
It is basically impossible to have a positive ROI on spending money to arrive back at the same point one at which one started…
Keeping business impact as our “true north” ensures we’re heading in the right direction
When an investment is justified, keeping the same criteria for our decision-making process is key. Applying technologies that benefit your business is as much an art as it is a science, which is why there’s such a huge industry of technology consulting. Each company’s unique positioning, culture, and strategy significantly impact what makes sense for them. Incorporating the “latest and greatest” gadgets and capabilities may not yield the same positive results for one company as for a competitor, or an organization in a different industry.
Ultimately, success in innovation only comes when there is success in the business…
It all comes down to Revenue, market-share, cost savings, and/or improved quality…
Expert consultants know that this is the correct true north. We don’t jump to apply the newest, coolest tech for clients’ projects; we discern the right set of solutions and the right sequence in which to introduce or upgrade them. Navigating innovation in this way leads to maximum business impact because ultimately, success in innovation only comes when there is success in the business.