Ciaran Duffy, General Manager - Private Sector, Neueda
w orking with organisations across a broad range of sectors means we at Neueda are able to identify common challenges and trends that face businesses today.
We are also in the privileged position of being able to help steer organisations along the path to finding solutions.
Many sectors such as insurance, banking and energy are facing fundamental changes in service delivery and evolving consumer expectations. Combined with sectoral disruption and rapidly developing technologies, organisations are being more regularly challenged and finding themselves asking – how can we provide simpler, tailored, responsive solutions? What new revenue streams can we generate? How do we change quickly, or at least try then fail quickly so we can learn?
What they’re really asking is ‘how can we innovate?’ and, without doubt, innovation is the key ingredient in helping businesses succeed in the digital age.
Innovation needs to be encouraged, cultivated and managed to achieve the best results.
From a digital services perspective, we find that generating new ideas typically comes from a combination of understanding relevant market trends and implementing techniques that encourage creative thinking.
Firstly, it is important to define your team responsible for driving innovation – giving your people structured ownership will help foster creativity and ownership of ideas.
An organisation in need of new digital services and technological change should first define the problem, then set about identifying potential solutions, challenging the business value of these ideas and agreeing any promising potential services.
Organisations in particularly disruptive, competitive markets are understanding the need to embed the culture, methods and technology platforms to enable innovation. At Neueda, we help our customers look at a problem from a specific perspective or ‘persona,’ using techniques that encourage them to consider ideas outside their comfort zone. We manage the process of developing and testing these ideas; from initial assessments and planning discussions through to the implementation of new digital services and technologies.
Enabling and implementing your scale of change then comes down to technological capability. Most organisations are collecting vast amounts of data in a range of systems. New digital services and offerings require data to be brought together to be analysed and presented in new ways.
Any potential new digital services should be prototyped and tested quickly and having a technology runway that can facilitate these requirements is a significant advantage.
There are a number of new technologies such as Microsoft Azure and Amazon AWS that allow you to quickly test ideas in a cost-effective way. These platforms are typically cloud based and pay per usage, avoiding significant investment in hardware or software.
If you are working with an external IT partner, adopting an Agile delivery approach means ideas can be tested and can fail fast – this is the style of working we take at Neueda, blending with in our customers’ business teams to quickly discard ideas that aren’t viable and finding the ones that are.
As you look into the year ahead, perhaps you recognise your organisation is ready to make a change. A change to up your game, to challenge the market, to do what you do better, faster or in a new way. Start by looking at your existing technology; define your ‘innovation architects,’ encourage and nurture new ideas and find a way of testing these quickly. Following these steps will lead you to the space you need to be in to make the right choices – and the change your business needs.