White Paper
For organizations, SMBs especially, it is difficult to separate business strategy from technology. Companies need to identify, check and then apply next generation technologies to the business roadmap. The white paper “Leapfrogging the technology explosion – How SMBs can leverage strategic partnerships” identifies the need to align business to technology disruptions for seamless connectivity, new modes of engagement, business agility, decreased costs and operational efficiency. It outlines the importance of slicing through the landscape into the heart of the business and from there reach out to technology innovations with the goal of making the business smarter, faster and cheaper.
It is apparent that businesses are picking up speed, fuelled by fast and furious technology innovations. With more and more people adopting smart-phones as the smart way to communicate, digitalization has stomped into traditional industries such as banking and manufacturing.
Cloud computing, mobile and unified communications technologies are essential for businesses today, irrespective of their size or scale. Small and Mid-sized Businesses (SMBs) are turning to these innovations to save time, increase productivity and decrease costs. They are looking at the mobile to decrease response time, the cloud to access cost effective technology and applications to be more agile to changing market conditions. This proliferation of applications and devices is providing customers with seamless connectivity, new modes of engagement, business agility, decreased costs and operational efficiency.
Having said that, the extent, scale and power of technology disruption cannot be underestimated. For example, adding dimensions to complexity is the Internet of Things (loT) which is increasing connectivity and bridging the gap between people and things. This is an offshoot of the growing importance of analytic, cloud computing, and interconnectivity of devices but not anywhere as simple as it sounds. Another example is Software as a Service (or SaaS as it is popularly known) which is causing tremors in the software development arena. This is a way of delivering applications over the Internet and is a preferred solution to buying, installing and maintaining complex software and hardware solutions.
Thus, as technology transforms existing business models, giving rise to new ones, integration becomes core to business success. It is essential to harness the power of emerging technologies while viewing the future through magnifying glasses. It is easy to fall into a trap and adapt a technology solution which everyone is talking about. This kind of a reaction could actually lead to compromised investments and functional silos. It is, therefore, important to slice through the landscape into the heart of the business and from there reach out to technology innovations with the goal of making the business smarter, faster and cheaper.
For organizations, SMBs especially, it is difficult to separate business strategy from technology. However, the fact of the matter is, to remain competitive and increase productivity, there is the need for seamless merging of strategy and IT. Companies need to identify, check and then apply next generation technologies to the business roadmap. This is a tightrope walk as it requires balancing actual present business scenario, with future requirements and then rewriting processes to transform the business. All this has to be achieved without losing sight of costs, complexity, risk and feasibility.
The diagram below highlights ten functional areas where enterprise early adapters are applying semantic technologies.
According to a recent Gartner report, “51 percent of CIOs agree that the torrent of digital opportunities threaten both business success and their IT organizations’ credibility. In addition, 42 percent of CIOs believe their current IT organization lacks the key skills and capabilities necessary to respond to a complex digital business landscape.” Thus, if IT executives had a crystal ball, they will be able to actually see what they need, and then plan and budget accordingly.
However, more often than not, decision makers have their hands full running their present organizations and they are not sure whether the cost of investment will be the right one and whether it will pay off in the long and short term. Connecting the IT department to the business is crucial and this is where service providers make an entry. They will play an important role in this digital disruption, as the world moves towards a mobile and cloud-based world.
For SMBs, attracting and retaining customers, thinking of new products, services, and competencies are more important now than ever before. Technology is aiding this revolution. Harvard Business School professor Clayton M. Christensen describes disruptive innovation as “a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors.”
Thus, using technology innovations, SMBs can compete with larger players. They can do more with less, instantaneously, remain accessible at all times and achieve all this with limited investment. Collaboration is simple and backup is low cost and low maintenance. Engagement rules are changing and interaction is always on, on any device.
An outsourcing partner who has technological depth, i.e. experience in these new platforms, social media, mobile BI, who has SaaS experience and can create and manage innovations will be the force to help SMBs to transform their business models, de-risk technology, minimize dependence and generate more pricing and revenue options in the market.
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