Coping with upheaval
The fact that the business world has been facing waves of technology-led disruption in recent times is well-documented but many organisations are also facing their own individual transformations. The servitisation of products has caused a shift in processes for some, while others have felt the impact of rapid expansion through mergers and acquisitions and are now running projects across multiple international borders and legal systems. Retailers are turning stores into showrooms at the front-end of an ecommerce operation. Products and portfolios have grown both in size and complexity to meet new customer expectations and aggressive competition.
It’s tough in the middle
It’s not easy being a mid-sized organisation. While there is often help available for start-ups, there is typically very little funding to enable organisations to fulfil their potential. Instead, businesses often have to rely on their own resources. The most successful are often those best able to invest in product innovation and in their people, and those that have the ambition and operational agility to grow into new markets, streamline their processes and rapidly respond to new market demands.
Key success factors
The above factors are the broad brush strokes. When it comes to detail – what do organisations need to do to achieve success in this volatile environment? Here are my recommendations:
- A straightforward way to integrate silos of information to create an accurate view of company performance across an entire worldwide organisation
- The ability to access data in real-time for fast remedial action when necessary
- One single, centralised view of each individual customer
- The knowledge that their data is solid, reliable – and totally secure
- The flexibility to change the business model as markets demand
- Secure access to current company data when mobile
- Complete scalability through the cloud
- A hybrid set-up to enjoy the benefits of the public cloud where possible but the security of a private cloud where necessary
- The ability to introduce social media into mainstream sources
Ultimately, the key success factor here is having access to the right information at the right time to enable a fast response.