For IT, business is not the same. Customers have becoming more demanding and margins in the business have come down. Changing times require different business growth strategies, thinking and actions.
This article gives out new approaches and strategies, that can help companies come up with newer operating model. These strategies can deliver superlative result especially in client context.
As a business consulting company, we work with many IT firms. We realize that many IT companies in India have made things unnecessarily complicated. Instead of going to the core of the problem & addressing it most keep on identifying solutions on the surface.
No wonder many companies have caught themselves only chasing new terminologies, jargon and technologies. These companies increasingly fail to make any significant impact and hence tend to lose out on old clients & new opportunities.
Digital era has brought in significant change to IT world. Many successful companies have transformed themselves to adapt & adopt to the new reality. Yet there are many companies that are still struggling to transform, because they arenbt ready to go beyond the traditional IT model.
As a business advisory firm, we help IT companies transform and up skill to embrace the digital era.
To remain competitive,B IT companies bSmall and large need to understand & embrace the changing business & operating Model. Applying this in individual business context will make them carve out their niche, create differentiation and gain competitive advantage
Letbs consider few approaches that can help companies come up with different operating models suitable in their business and client context;
1. It’s Sprint, no more a marathon
Time to market has become extremely crucial in most cases. There is need to quickly bring in new innovative product or services to mitigate competition from eroding market share.
The entire team has to act like a SWAT team, moving extremely fast and conducting the operation with precision. Companies need to develop processes for rapid assembly.
Team with diverse set of skills formed in a shortest time-frame and assimilation culture; these teams must be able to quickly become productive working together for a common purpose.
2. Co-Creation with business
Successful IT companies have moved out of silos, as far as systems, applications and product development is concerned. Most businesses have successfully merged their development & operations team to create agile model with continuous development and integration reducing the cycle time and iterations.
This model now needs to be extended further to integrate business teams. In order to innovate fast they need to take risks, develop and test quickly and if they fail move on to next idea.
This is possible only by closely working & tightly integrating operations and business teams. Better communication, higher transparency and co-creation can aid companies come up with innovative IT products or services.
3. Heterogeneous teams
Few companies have started experimenting this. Blending freelancers with employees or contractors, assembling a team of not just software engineers, project managers with diverse
IT skills but designers from arts background; working on UI/UX, content creators and other people with different experience profiles, that can bring in the required diversity to foster innovation and creativity.
As a leading consulting companies in India, In-Unison helps companies realize that academic profile should no more be an entry barrier, itbs not what you have or have done in the past but what you can do right now that is most important.
Many companies are deploying small IT consulting companies to help form and tune heterogeneous teams.
4. High depth & breadth
Conventional consulting model is dead but at the same time the need of higher business & technology knowledge has increased exponentially. Clients today donbt want IT business consultants to just provide advice or recommendations to their problems. They want the companies to also provide solutions. Companies therefore need to assemble a blended team of technology staff with higher business knowledge.
The million-dollar question is; whether business has to learn IT or IT has to learn business, is no more relevant. Itbs inevitable that we need people with both deeper business knowledge together with IT skills. Innovation needs depth and breadth of business & technology knowledge joining hands. Companies need to think how they can identify such individuals within or hire them to provide immediate exposure to further their skills, experience and benefit from it.
5. A house of Start-ups
Most companies by now have seen the start-up model through either working with them or incubating few start-ups. They would have realized, start-up is a mindset. It is all about having complete freedom to pursue onebs dream, to develop something that will solve a complex problem or address a gap or a customer need.
Companies need to form internal angels, seeds & ventures investing in individuals forming their own teams-internally or by hiring. Internal / open hackathons and similar events should culminate into getting the right teams to present their ideas and win the funds dedicated for innovations. Itbs all about leadership readiness and mind set change.
In-Unison helps companies undertake leadership trainings that help IT leaders to unlearn, dropping their traditional approach and conventional thinking. As business models are evolving IT leader need to think of different operating models.
While the case in point apparently may seem to be applicable only to IT industry, itbs applicable to almost every organization. Same operating models can be replicated / leveraged by other non-IT businesses to come up with innovative products and services; e.g. Banks can come up with new age fintech products & services.
In-Unison is a top business consulting firms in India. We work with businesses to change mind set & transform leadership that thinks differently, to come up with innovative business growth strategies and operating models in context of their business.