Using innovation to drive commerce
IT IS widely accepted that the global economy is in a challenging position after the fiscal downturn of 2008. Although a financial environment of this nature can be a difficult one in which to grow a business, it can also encourage new innovation and process improvement as organisations seek to differentiate themselves from their competitors.
Today, the driving force behind corporate evolution is technology. Executives are beginning to embrace new services as gateways towards enhanced productivity, internal best practices and customer service. Using technology to rethink business strategy is inspiring and decision-makers should be aware of how technology can be best used.
The first focuses on turning information into insights. By implementing analytics engines, which are able to examine seemingly disparate data and deliver useful insights, organisations can alter faulty processes or improve deficient service areas before experiencing a decline in sales.
Enterprise content management systems are fast gaining traction as dynamic information banks which, when interfaced with business analytics, are able to facilitate a much deeper view of the business, its competitors and customer behaviour. This is rapidly changing the way IT managers are viewing information warehousing.
While these systems are aiding the delivery of complex insights in just seconds, they are also giving organisations the tools to implement server facilities in a scalable manner.
The second focus is the establishing of the agile organisation. This focuses on using business-process modelling to automate and connect previously separated processes with the intention of unifying internal structures and encouraging rapid responses to customer requests.
The third, and perhaps most ubiquitous, is the emergence of mobile platforms within the enterprise. According to a recent IBM study, chief information officers are allocating significant resources towards empowering an instrumented workforce.
Although this holds numerous productivity and costsaving benefits, organisations looking to utilise mobile technology should ensure that employees accessing sensitive information do so securely.
The fourth area on which technology is having an effect is optimising business IT infrastructure. Usually this is the starting point for most costcutting exercises but optimising is about more than cost-cutting. Innovative services such as automated asset management and enhanced management of enterprise data volumes are allowing businesses to operate more profitably by facilitating the allocation of capital to other departments.
In every region, business sector and focus area, technology is empowering organisations with new ideas and approaches to old problems. Innovation is the lifeblood of success and will undoubtedly continue to support growth no matter the economic situation. Technology is more than a useful tool for business. Used in conjunction with foresight and vision, it becomes the means to overcome challenging economic situations and the engine for innovation and growth.
Bhat is software group executive at IBM SA.