Hitting Fast-Forward on Scaling Innovation

Accenture-Scaling-Innovation

Innovation is top of mind for today’s executives and organizations need to rapidly scale to stay relevant.

In recent years, we’ve seen companies innovate in 12 months and scale their innovation in 12 to 24 months. That was then. Today, we see our forward-thinking clients innovating in three months, but scaling is still taking 12 to 18 months.

That won’t cut it anymore. To seriously compete in the marketplace, clients must hit fast-forward. They need to scale within three to six months.

Success hinges on three factors:

1. Accelerate

Organizations need to play both defense and offense. Enterprises must quickly identify and respond to competitors.

For example, traditional financial services clients recognize blockchain is an emerging competitive threat in their industry. However, big enterprises fear they may cannibalize their established businesses; yet, while they are assessing the threat and developing strategies, they are not reacting fast enough.

To generate new growth, organizations must accelerate innovation through capability and offering development.

2. Re-Architect

To achieve agility and cost savings at scale, organizations should migrate to a cloud-based fluid architecture.

Businesses are finding new value by leveraging Google Cloud Platform for infrastructure, machine learning and data analytics. Google’s commitment to enterprise-grade security, open source and competitive pricing enables organizations to leverage the tools needed to power their business.

According to the Data Management Survey by SAS, 93 percent of leaders agree their data strategy allows them to innovate existing business processes through improved analytics.1 Organizations need to empower their people and re-architect their businesses by implementing a data-first strategy, leveraging their data to make real-time decisions.

3. Scale

Leading organizations accept and promote innovation-driven agendas.

We find these organizations scale their innovation rapidly, utilizing Minimum Viable Operations, the minimum amount of processes, controls and security required to exposure a new system or service to a target consumer while achieving the desired level of availability and risk.

To reinvent a business, an enterprise must scale its people, processes and technology.

Accenture-Develop-Innovation_updated

Where to Start...

Think of the steps to success as pieces in a puzzle. Our objective is to help position clients to disrupt their industries, rather than be disrupted.

Depending on the client’s challenges and opportunities, we recommend a roadmap outlining which puzzle pieces to tackle first, including:

  • Define Company Purpose & Brand Strategy
  • Redefine Customer Experiences & Reach New Customers
  • Develop Ecosystem Strategy & Enablement
  • Develop Innovation Program
  • Move to Next Generation Cloud Architecture
  • Implement Solutions that Generate Quick Value
  • Develop Talent Strategy
  • Execute Change Management Program

 

1 https://www.dqglobal.com/2017/07/25/importance-data-integration/

Tags: innovation

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