5 ways IT companies can get full value from their Tech
You are one of the industry leaders and you are following trends and implementing new technologies to grow your company. Till now, it works fine, but they have taken you so far.
For example, if you have developed a wearable device for tracking exercise, the sale will be initially strong. But you did not develop an analytics platform to go with your new product, and it will fail to generate meaningful insights from the data the device was collecting. As a result, the customers that want to learn from their past activities will soon slip away
Most companies put their everything into the new technology they are developing. But like an apparel company, they are not getting a full return on their investment. This is what most experts call the Innovation achievement gap.
Accenture launched a massive survey of it and a business person from more than 20 countries and 8,300 companies.
They concluded that while all the respondents were adopting new technologies some were going one step further and creating what we call ‘Future systems’. Future systems provide the company’s skill to see through the technology they are innovating while also giving them the flexibility it will need to keep evolving at the same pace and grow their business.
But how can you implement Future systems to your business?
Here are some silver points that are research-backed and everyone can use them to build their own Future systems
1. Adopt technologies that provide your company flexibility
Move to decoupled data infrastructure and applications for a flexible and faster-moving business. Adopting DevOps and automation can help you eliminate dependencies on your systems and make the processes more efficient.
2. Get far ahead in cloud computing
Cloud computing is cost-effective and can save you money. It is also highly reliable and provides the scalability, flexibility, security, and high performance that your business may need.
It will also accelerate your use of innovations like AI and analytics.
3. Recognise data is both an asset and a liability
No business today should ignore the value of implementing security measures. The reason here is as data security measures ensure that the business continuity is maintained in today’s world. It avoids data breaches and also shields your organization against financial costs, loss of public trust while also protecting future profits.
Having a synchronized data security framework protects your company against any legal scrutiny or regulatory consequences. As a business, you should also train your employees to instill a data security culture in them.
4. Manual technology investments well across the enterprise
Having clear visibility into technology investments across the company is essential. Establish business alignment so you can efficiently transfer any innovative projects between your departments.
5. Nurture your company talent in creative ways
It is for most important now to attract the best talent possible is this is the only way to innovate new technology. Investing in people is the best way to advance Future systems. Flexible and AI-powered tools can help your workers obtain the right skills for emerging roles. Training new employees using virtual reality and augmented reality can cut costs down and offer more realistic training. Also, ensure that your company has fostered a fast-fail culture to ensure that young talent is not afraid to think big and go bold.
Now as you have some more information and clear answers than before. But change is not an easy journey. Companies that have got used to legacy systems find it tough to embrace cloud-based technologies.
Therefore it is better to crystallize the process of transformation into small pieces. It gives an excellent opportunity to learn the new technology piece by piece without any hurry.
Every company has the ability to generate leaders that can close the ‘Innovation Achievement gap’ and get outcomes they want from their technology investments.