The business world of today is expanding at such a rate that it would have been unrecognizable 20, 15, or even 10 years ago. Central to this process is the continued growth of innovation within tech, pushing towards new and more direct ways to get at what people want. As science meets technology and practical application, we stand ready to take the next big leap forward. The only challenge we face is stagnation. Core to the entire process is the constant tech disruption that has gone on to define more then 20 years of innovation. Lets take a look at how this tech disruption is not only recommended, but also existentially necessary for the continued growth and prosperity of all business industries.
The Times: We Are Living In An Era of Radical Change
As companies build their business and systems on technology that did not exist only a few years ago, radical change is a given. Considering the world of financing and financial software, it is easy to see how aspects of web development, and financial account aggregation have not only changed, but continue to change every year. Financial consultants like everyone else connected to technology need to be adaptive in order to respond to these changes. The alternative is to not disrupt the tech your company is using, and quickly become obsolete.
The Conceptual: Considerations for Disruption
Consider methods by which your business can become adaptable, at the fore of a constantly changing marketplace. How are you customers obtaining data? How are your customers receiving your product? How is your manufacturing organizing? How are you using (or not using) digital platforms and cloud computing to reduce your overhead, unit costs, product distribution, business analytics, and / or the strengthening of your provided service? What are the traditional modes of operating within your industry and how are the ripe for disruption?
The Application: Innovation Verse Business Practices
Innovation changing how businesses operate can easily be seen in cloud computing, data analytics, social networking, and mobile devices. Never before has it been easier to access information, thoughts, and opinions from around the world. Having disgruntled customers is no longer an assumed thing, but rather a potential source of negative attention for your company thanks to testing and social media. The ability to quickly identify problems and solutions brought on by tech disruptions speak towards the continued health and wellbeing of the company.
Working against this however are standards assigned in business practices that limit innovation in exchange for more predictable operations. While this can provide a short-term boost to both the productivity and direction of the business in question, it can also ultimately be similar to shooting oneself in the foot. Though you may shine brighter in the moment, you may quickly be passed by companies willing to embrace the tech disruption.