Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
Many businesses have been able to cope successfully with the challenges of supply disruptions and ongoing challenges.
These businesses have not only survived but also developed the resilience they needed.
They acted differently than others.
Innovation is the answer.
To remain competitive and resilient, today's organizations need to be innovative. This requires a change in strategy, mindset, and processes.
Accelerated Innovation is essential to thriving in the new norm. It allows organizations to stay ahead of their competition and move quickly.
What is Accelerated Innovation ?
Businesses that embrace accelerated Innovation use creative approaches to create and implement new products and services quickly and efficiently.
This Innovation helps organizations remain agile and competitive when faced with rapidly changing markets and customers' needs. Leveraging technology, data, and resources helps identify areas for improvement.
Accelerated Innovation is fundamentally about helping organizations move quickly and remain ahead of their competition.
It involves harnessing new techniques and technologies to quickly develop and implement products, services, and processes.
In Times Of Crisis, Innovation Must Be Accelerated
In the face of increasing uncertainty, accelerated Innovation becomes essential. This Innovation gives you the tools and techniques needed to respond quickly to changes in market demand and consumer behavior and to stay ahead of your competition.
This allows companies to pivot quickly, identify new opportunities and develop strategies to adapt to changing market conditions.
It can also be used to help companies better understand their clients and develop products and services that are tailored to their needs.
It can also increase customer loyalty. Accelerated Innovation also helps organizations better manage resources and costs. It allows organizations to identify areas in which resources can be better utilized and cost-saving decisions made.
Technology's Role in Accelerating Innovation
The key to creating new products and services rapidly is technology. Organizations can, for example, use analytics and big data to better understand their customers and market.
Data analytics insights can be used to improve solutions and customer experiences.
Artificial intelligence and machine learning can also be used to automate processes and reduce costs. AI can identify customer preferences and needs in real-time, while machine learning can automate the product development process.
Technology allows organizations to create, test and refine new services and products quickly. The technology allows organizations to share their ideas and collaborate in real time.
Finally, technology helps organizations manage their costs and resources better.
Strategies for Accelerated Innovation
Before implementing a strategy for accelerated Innovation, organizations should take into account their specific needs and challenges.
Understanding the main goals and objectives is the first step. This will help identify the areas in which organizations should focus their resources and efforts.
It can be used to identify new growth opportunities, develop new products and services, or improve existing processes.
After identifying its goals and objectives, an organization can develop a strategy to implement accelerated Innovation.
This strategy should include an action plan to leverage technology, data, and resources in order to accelerate Innovation. This strategy should include a timeline and a plan to manage risks and challenges.
Different Approaches for Accelerated Innovation
- Agile Development: This method involves breaking complex tasks down into smaller, more manageable tasks and iterating rapidly to develop new services and products. This is perfect for companies that want to rapidly develop and deploy new services and products.
- Design Thinking: This method focuses on understanding the needs of customers and developing products and services that address those needs. Rapid prototyping is used to create solutions and test them on customers. Businesses can quickly determine what solutions work and which ones don't.
- Six Sigma Lean: This method streamlines and eliminates waste. It analyzes processes, identifies improvement areas, and implements change to improve efficiency and lower costs.
- DevOps: This method automates the processes and reduces deployment and development times. This involves integrating operations and development to quickly develop and deploy new services and products.
Challenges of Successful Accelerated Innovating
- Resources: Organizations must have a clear understanding of their resources and know how to leverage them to reach their goals. These resources can include personnel, technology, and funding.
- Technology Constraints: Organizations might not have the tools such as data analytics tools and customer feedback platforms that they need to accelerate Innovation.
- Resistant to Change: Employees and stakeholders may resist accelerated Innovation. It can be a result of a fear of change or a misunderstanding of the process.
- Lacking Expertise: Organizations might not have the expertise necessary to quickly develop, implement, and maintain new products, processes, and services.
- Inconsistency between Teams: Lastly, teams tend to work in isolation. It affects their ability to work together and align towards a common goal.
What Is The Secret To Driving Innovation In A Tech Firm?
Hi tech solutions companies are under increasing pressure to drive global Innovation.
They must attract and retain top talent, maximize their productivity, and create business continuity value on a global scale. This is proving to be a difficult task as organizations become more remote. A recent cisin survey shows that deploying a cloud-based unified communications solution can achieve these goals and more.
Just 5% of companies expect to return to their office in full. Technology companies are leading this charge. They use cloud solutions and employees' comfort to create innovative workplace structures that enable better work anywhere.
Cisin Offers 87% More Flexibility
The tech industry is at the forefront of the shift to remote and hybrid work. The largest technology companies around the globe were the first to announce new workplaces, and now firms of all sizes are following.
Remote work is a great way to satisfy employee preferences while also allowing global high-tech companies to hire the best candidates, regardless of location. This is a win, win, and win opportunity for our clients. Cisin Technologies provides employees with the latest tools that boost productivity.
Employee satisfaction and experience increase, which leads to higher potential customer satisfaction and lower attrition.
As some of the most dispersed organizations in various industry verticals, there is an increased burden on technology companies to use tools that allow people to work and collaborate from anywhere.
Cisin is available on any device and allows 87% more employees to work remotely. With new features such as Team Huddle, your distributed team can be connected face-to-face with one click.
Overall ROI of 75%
High-tech companies need tools that optimize team communication, collaboration, and globalization while minimizing costs and ramping up associated with deployment and administration.
The multiple business improvements provided by cisin can be used to improve outcomes and drive value at all times. Technology firms have seen an average return of 75% on their investment.
Workflows Can Be 50% Faster With Cisin
Workflow automation can help tech companies scale up by reducing time spent on low-value but necessary tasks, improving accuracy, and reducing data silos which can hinder work effectiveness and cause organizational blind spots.
Implementing these workflows is complex and expensive. The longer they are deployed, the more time it takes to see meaningful results.
cisin accelerates deployment by high-tech consulting firms by 50% on average, thanks to hundreds of pre-integrated integrations with must-have business applications and an API that allows for flexible customization.
Productivity Increases By 34% With Cisin
Tech companies are often filled with tech-savvy teams that have used CRMs, file-sharing systems, and project management tools.
Tech companies have large technology footprints to manage their product lifecycle. While these apps are essential, the constant switching between a multitude of apps can seriously erode productivity and hamper access to information.
Switching to a single app has resulted in a 40% reduction in app switching.
"As our company grew and we onboarded more employees, we saw the value in bringing these different forms of communication to a single platform that worked seamlessly with all others.
Cisin Ticks All The Boxes For A Global, Mobile Workforce
Mobica, a software services firm with over 1,000 employees spread across the globe in Manchester UK, faced challenges familiar to most growing tech companies.
The firm's rapid growth led it to open new offices in different parts of the world and hire hundreds of staff. But its old communications system couldn't meet its demands.
Tony Healy is the Chief Information Officer at Mobica. He said that "the communications infrastructure was localized rather than centralized at each site, which meant we had different communication hardware at each location, and there was no integration between our various solutions."
"Mobica now has enterprise-caliber business phone functionality--automated professional greetings, dial-by-name directory, extensions, advanced routing, etc.--to match our reputation as a global technology innovator.
We are also more connected with cisin, which is important for a geographically dispersed company like ours. We are now in the process of rolling out cisin across the entire group.
Download our Customer Success Survey Results Datasheet for High Tech solutions to learn more about cisin's performance across 16 metrics critical to the performance of tech companies.
Drive Digital Innovation In The Professional Services Industry
Our instinct in times of turmoil can be to retreat from the challenges. In times of turmoil, our instinct can be to shrink away from challenges.
In the current climate, businesses are the ones who can see opportunities. It's important to not only survive but also thrive in a crisis.
It is particularly true for the professional services sector. Its services -- including legal and financial guidance, consulting, and technology -- have proven essential for others navigating the "new normal."
Many professional service companies began moving to contactless working even before the pandemic. They used tech solutions to connect with one another and engage their customers.
The transition was relatively easy for most. Others have found it much more difficult to maintain high service standards while adapting to rapidly changing customer priorities.
Not all is lost. Cisin is able to prepare teams, regardless of where they are in the transformation process.
Here are three things that companies can do to prepare for the challenges of tomorrow while meeting today.
Digitize Your Business
Digital technologies have revolutionized the business processes world in many ways. In the current business climate, digital transformation is not only a smart strategy to gain a competitive edge but also a necessity for survival.
Quip is a great tool for companies that are just starting out with remote working. It can help them to stay connected and secure while still maintaining team communication.
Quip ensures that all employees are on the same page, even if they are in different locations.
Digital platforms can be used to automate repetitive tasks, allowing you to focus on more complex tasks that require critical thinking, creativity, or good communication.
The quality of the time saved is more important than the quantity. According to the Harvard Business Review, 25% of CEOs spend their time on tasks that machines can do.
Tableau is a powerful and versatile platform that helps companies transform information into action.
Changes In Expectations Of Stakeholders
Currently, the professional services industry's clients are facing a variety of challenges: some are thriving, others are struggling, and very few are operating normally.
Businesses must also pivot when customers do. Being agile is essential. Businesses can take a number of key actions in these turbulent times.
- Customers' shifting needs can be better understood by engaging closely with them.
- Ensure workplace safety. Work.com provides guidance and thought leadership to help keep employees, communities, and customers safe when the workforce returns and the workplace reopens.
- Accentuate the importance of on-the-job learning and reskilling. Trailhead is a great resource for learning new skills and earning certifications.
- Give decision-makers the information they need to make informed decisions.
New Ways To Work
Businesses can prepare themselves for success in the future by adopting new, innovative ways of working. This crisis has not only led to greater adoption of digital technology, but it has also led to some businesses making on-the-fly adjustments that have been surprisingly successful and effective.
These changes will last long after this moment is over.
Some companies are moving to virtual consulting. Others are using innovative support technologies, such as visual assistance, while others are investing in tools to decentralize decision-making.
Those businesses that want to implement solutions for delivering services in a more efficient and smarter manner can turn to cisin's customer SPIE SMART FM. They have done nothing less than revolutionize how we view buildings.
The professional services sector is a broad umbrella. There is no single solution to the current crisis, as it affects everyone differently.
We don't know what the future will look like or how the story will end, but we can all write it together by sharing our knowledge.
How Can The High-Tech Industry Evolve In A Digital World?
Companies that operate in high-tech fields have many opportunities as the world is becoming more and more technologically oriented.
To take advantage of these opportunities, companies need to adapt quickly to the evolving dynamics of their industry. High-tech IT services/ companies are changing fundamentally due to the rising costs of manufacturing, the evolving nature of their customers, and the need for rapid acquisition of new capabilities.
The Challenges Of A Digital And Dynamic Market
Cost-effective manufacturing has always been of paramount importance. High-tech manufacturers are producing increasingly complex and micro products while increasing their production capacities (in accordance with Moore's Law).
According to a report by a leading analyst, if the manufacturing costs of 28nm chips are $30 million, then the cost to manufacture a 7nm chip could be as high as $270 million. This is a nine-fold increase in manufacturing costs. It discourages manufacturers from producing the 7nm chips unless they can produce large volumes and get a reasonable ROI.
The changing profile of customers has led to significant changes in the way high-tech firms operate. Earlier, semiconductors were mainly used in PCs and mobile phones.
These companies were forced to sell their products to a small group of customers - mainly PC and mobile phone makers. Semiconductors are now used by a wide range of industries, from manufacturing to automotive to home automation. They are used for sensors, robotics, and cloud computing.
They are used to create systems that use new technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and robotics.
Due to this complexity, vendors don't always fully understand all the features and applications of their products.
The use cases still look promising, but they are just emerging.
New Business Models
The market for high-tech firms has expanded both in terms of the number of companies that they can sell to as well as their reach and geographic spread.
This shift in scale has affected several aspects of the business, including how marketing and sales are designed, how customers are reached across the world, how companies compete and differentiate themselves, and how to support their vast customer base. All of these factors lead to the need for a new business model.
How can high-tech companies prepare for success in the face of all these changes? Based on our work, I would like to share some insights.
A Comprehensive M&A Playbook
Companies need to quickly acquire new capabilities as new innovations are developed, and the technology landscape grows.
This is often done through mergers and purchases. In the last 30 years, the number of major players in semiconductors has decreased from 30 to around 13 multinational companies.
This is large because of mergers and purchases. Our high-tech customers have helped us create comprehensive M&A Playbooks to ensure readiness from day one. It is crucial to guarantee the realization of market obligations based on synergies.
Embracing Digital Technologies
As I have mentioned, both the profile and reach of the customers have changed significantly, necessitating changes in the way an organization is run.
Digital transformation is crucial because it empowers the organization to reach a larger market through digital channels. The only way to adapt to this new scale is to digitize tech support, research, and other operations (possibly by using AI/chatbots).
It is no longer feasible to have a dedicated customer representative for every customer.
Domain Expertise
Understanding the various applications of technology is important as it becomes more ubiquitous. Our domain expertise has helped us work with semiconductor vendors in order to better understand the use cases.
Our world is becoming more digital, which brings with it a lot of new challenges and opportunities for high-tech firms.
The key will be to adapt effectively to changing dynamics. Is the high-tech sector ready to adapt for better success in the digital world?
Conclusion
To navigate the volatility, businesses must be innovative, creative, and agile. Businesses can identify customer needs quickly and create solutions by embracing rapid Innovation.
They can adapt to changes and become stronger than ever.
