Three crucial strategies to improve your business

During the latest meeting of our advisory board, I was asked to give an update on INNOCOM’s position in the market and a glimpse of the future as well. Presentations like this always force you to think long and hard about what you’re doing and how you can apply yourself even stronger to the needs of your customer. In the end, I came up with three strategic choices that, in my opinion, every organization should make in order to grow. In other words: three roads to a brighter future that we can guide you on.

Be more agile

Most organizations have learned that technology can help them to become more competitive, but nevertheless they fail to take advantage from this knowledge. Why? Because taking the right decisions to start using certain technology takes way too long. Their organisational structure is not compatible with the pace at which technology is evolving. Only those who stay ahead of the curve will survive. This requires a radical switch in the company structure: from the old-fashioned “command & control” to “co-ordinate & cultivate”.

Make better choices

There is never only one solution to a problem. In fact, there is often a myriad of possibilities that you need to choose from – and choose wisely at that. You cannot have all of them. There is never enough budget to implement all the technological advancements that your organization would benefit from, for instance. And although your ability to change can be huge, it’s always limited. The crucial question you need to answer is: “Which technology should we invest in right now?” The only way to find the right answer is by gaining the best possible insight in the current situation. Insight that should be based on all the facts – data from every project, details from each and every available source. Don’t spare any efforts, this will cost you dearly in the end. Weigh the advantages and disadvantages of every possible project carefully. Qualify every capability, meaning: calculate how much exactly you will profit from every investment. Then go for the improvements that will help you differentiate the most against your competitors.

Unleash your business potential

“Plus est en vous” is a famous medieval motto, but holds a lot of truth in the current business environment as well. Every organization owns, generates and processes tons of data that are not put to use properly. They forget that data are the new gold, and that they can improve their performances in different areas by putting these data to good use:

  • Increase customer engagement by combining data from different sources to create a better, more personalised customer experience;
  • Develop augmented services, based on the data at hand;
  • Increase operational excellence by using internal data to streamline workflows;
  • Etc.

Again, a major change within the organization will be necessary. Let the data lead the dance, and organize your teams and your projects around them. You will create new collaborations, enhanced processes and unexpected possibilities.