Catch Me if You Can: Enterprise Leaders Accelerate the Cycle of Innovation
Written by Uri Kesselman
VP Sales — Europe
It’s not the strongest of the species that survive, nor the most intelligent, but the one that is most responsive to change. — Charles Darwin
ROI within a year
I have been working as an IT and sales professional in enterprise software since 1993. During that time I’ve experienced first hand the daunting yet exhilarating anticipation of deploying a solution and bringing it to market.
2017 has been an exciting year so far. In fact, I will venture to say that there has never been a more exciting time for our industry.
Who would have imagined that a customer-facing service could be launched with a major brand, in central Europe, only ten days following an initial demo?!
“ROI within a year” has acquired a whole new meaning, and the above true scenario — experienced with one of the world’s leading consumer electronics brands — leads me to share this insight.
The old approach to disruptive technology
Large organizations have been traditionally unfazed by the breakneck speed of technological innovation. The process of adopting innovations in and by large-size organizations is sluggish due to social, political, and bureaucratic complexities. Barriers to innovation adoption often include lengthy legal and due diligence processes, IT limitations due to legacy systems and complicated integrations, fear of change and lack of inspired leadership willing to take the risk of failing in order to evolve.
Even when firms identify a clear need for new technologies, it can take years to select, purchase and implement across the organization, often missing the market window altogether. This slow process has been defeating agile start ups that thrive on innovation, quick adoption, and trial and error, but simply lack the resources to survive 24 months of waiting for a PO.
The new approach to disruptive technology
But change is coming. In their 2017 Tech Trends Report, Deloitte coined the term ‘kinetic enterprise’, an idea that describes “companies with the dexterity and vision required to thrive amid ongoing technology-fueled disruption.” Organizations that efficiently embrace innovative technologies are able to lead the market and transform the way they engage with customers. Accenture has noted a marked acceleration in SaaS adoption, with companies recognizing the benefits of both faster deployment times and minimized demand on human and capital resources.
Enterprises have found innovative SaaS and PaaS to be simple to launch and integrate into their business processes, paving the way for a successful and rapid PoC and commercial rollout. With the ability to quickly identify the value and leverage innovation on a mass market scale, large enterprises can respond more competitively to market changes. This has had a direct impact on the the sales cycle and go-to-market process, reducing the average time to market from 18–24 months to 6–9 months.
Why things are changing
This phenomenon — in industries such as telecommunications and consumer electronics — can be explained by a number of factors:
More pressure on the bottom line — CEOs are under tremendous pressure from their Boards to meet their earnings targets and profit margins. Fierce competition, falling prices, and high customer churn/turnover, all contribute to the pressure to save money.
Greater focus on customer service and customer experience — Customer service has become the new battleground in customer retention. Innovations that improve the customer experience and reduce churn are in high demand across every service industry.
More effective use of big data — Organizational demand for information in order to make better, smarter business decisions has fueled the growth of big data tools and platforms. In turn, this in-depth knowledge has paved the way for a faster innovation process, which organizations can now adapt with confidence, based on verified, relevant data supporting the change.
Increased need for speed — The marketplace is constantly changing and reinventing itself. Failure to adopt presents a clear advantage to your competition, and is viewed as a detriment by customers who want to do business with organizations on the cutting edge of innovation.
Growth of SaaS and Paas — Overcoming the IT challenge involved with a rollout of any new technology within a large enterprise has become a primary focus for solution providers (start ups and others). Innovative models that take the pressure off internal IT resources, such as SaaS and PaaS, enable expedited deployment in a matter of days (and even hours) and now dominate the market.
While legacy systems still exist in many large organizations, the move to the cloud and digitization of the enterprise has become inevitable. Service providers are actively looking for smart innovations supported by agile technologies to improve their customer experience and boost their bottom line.
TechSee has successfully leveraged the recent market shift towards accelerated adoption of disruptive solutions. With the ability to deliver a quick and painless rollout while demonstrating short term ROI, we have seen our visual support solution implemented across large enterprises in as little as 10 days to 3 months from our initial demo.
Will 2017 be the year where the enterprise marketplace truly embraces change and transforms its relationship with innovation?
This post was originally published on the TechSee Blog