Has Your Company Caught the Innovation Train Yet?
When you hear ‘innovation’ a large majority of business leaders are probably dreading what new changes are being brought in to disrupt the status quo they are comfortable and familiar with. The latest technological advancement, the best new productivity tool or the latest streamlined process might seem like the next in a long line of trends they have seen over their career. Unfortunately for this type of leader; innovation is no longer just inevitable but will be the one deciding factor between their company’s longevity against other companies who are embracing innovation with the passion and enthusiasm it deserves.
We recognise that for our clients, innovation can be scary. It might bring about changes you are not quite ready for or transformation which you hadn’t anticipated. But we believe that your organisation’s approach to innovation can bring such huge and positive changes that to ignore it would be foolish.
Let’s take a fresh look at innovation in your organisation…
Innovation 101
Who does your business work for?
The shareholders? The CEO? The client? The accounts team?
Innovation can only take place when you look at your organisation from the consumer’s point of view. Have you ever used a product or service as an end user and thought ‘this hasn’t helped me at all, it would be better if…’? Applying this same methodology to your own business can dramatically improve the way your end users access your product or service. It doesn’t even need to be a big change; small shifts can often have the biggest impact.
Imagine if:
More of the phone calls made to your customer care line could be handled on the first contact. Wouldn’t that improve the credibility of your brand?
Orders from consumers were acknowledged automatically and orders processed within 24 hours. Wouldn’t you be seen as the provider of choice
The paper trail for each order made by a customer was reduced by 3 pages. Wouldn’t you look more efficient to them?
Is your organisation too complex?
Do you have complicated systems, lengthy processes and inefficient methods?
Why are these in place? Go back to the question above and ask yourself – how does your end user see these things? What is the effect on them?
Innovation does not necessarily mean something new has to be introduced. It can also mean the elimination of unnecessary items, steps and confusion.
Imagine if:
Your customer did not need to complete the same paperwork each time they wanted to order from you because their preferences were pre-loaded and remembered by your system? Wouldn’t they be happier to work with you?
Your customers needed to click twice instead of 4 times before making a purchase from your site. Wouldn’t they be more inclined to place an order?
The end user had their order fulfilled within 3 days instead of 5. Wouldn’t they be more likely to become a repeat buyer?
Are you leveraging technology properly?
Do you buy the latest software and then decide how it will help your team? Do you have the latest trends because you think that’s the best way to stay ahead?
Technology needs to be seen as a solution-enabler across your entire organisation and an element of your business which underpins innovation.
Imagine if:
Even your most junior employees were empowered to generate up to the minute, accurate reports in a matter of seconds. Wouldn’t you be attracting and retaining the right kind of talent within your organisation?
Your CTO was able to pioneer innovation strategies throughout the business instead of spending hours generating out of date reports. Wouldn’t you have innovation woven into every team function and process?
You and your management team could efficiently control all outgoing expenses from your mobile device anywhere in the world. Wouldn’t you feel more comfortable knowing where your cash flow is at every moment of the day?
To remain innovative, it needs to be in your organisation’s DNA and while it can seem like an unreachable goal, game-changing analytics make it more accessible and simple than you could ever imagine.
1. Rapid cashflow forecasts
Complete, accurate and timely picture of your cash flow
Purchase orders and sales orders from recurring postings included in calculations
Sophisticated calculations to help assess payment probability
2. Advanced Availability to Promise (ATP)
Real-time inventory transparency
Dynamic aggregation of inventory on-hand, promised and desired
Enable sales order re-scheduling to minimise cost
3. Rapid Analytics from Mobile Devices
Enterprise search integration
Pervasive analytics for Business Partners and Inventory
Cashflow forecast dashboard
Availability to promise check during sales order creation
Delivery rescheduling for existing sales order items
4. Predictive Analytics
Embed analytical content in transaction screens
Real-time analytics reflect transactional activity as it happens
Enable front line employees to see data relevant to their job – at the moment it’s needed
5. Enterprise Search
Access all enterprise data with freestyle search
Seamless user experience
Locate business information just as you would on the internet
To enable and sustain your organisation’s growth it needs to become timeless; innovation isn’t a one off event or project, it must be embedded into every business function and part of each employee’s approach to their daily task.
This article is based on a blog post previously published by me at Blue Ocean Systems
Please review my other Small and Medium Enterprise (SME) related Steemit posts:
Customer Service Recovery – Sorry Seems to be the Hardest Word
7 Surprising and Worrying Statistics About Customer Loyalty
My business is small – why worry about keeping things simple?
7 Ways Small Businesses Could Grow
Are Scattered System Solutions Holding Your Business Back?
Why Having Effective Inventory Management is Only Part of the Story