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“Disruption is creation” – a mantra for business leaders

“Disruption is creation” - a mantra for business leaders

Innovate or get left behind. Businesses today know it and have seen it happen with their own eyes. From Amazon to Uber and Netflix, we have all seen new or small companies disrupt or vanish within months. Leveraging technology is key. Firms of all sizes and industries need to use new technology to create advanced business models that create greater value for their customers.

Governments, too, are on board. From Singapore’s Committee on the Future Economy to the ASEAN Economic Community formed in 2015 and India’s Innovation Growth Programme, government leaders and influential organisations in the region are increasingly enabling companies of all sizes to develop innovative capabilities, make better use of technology, and implement new business models in order to stay relevant and competitive.

The opportunities are there, but what do business leaders need to consider when embracing this revolution? Here’s a checklist to kick things off:

Start with the customers (and their data)

With the expansion of digital lifestyles, customers today are spoilt for choice and have higher expectations than ever before. It is essential for businesses to understand the ever-changing needs of their customers and put them at the center of decision-making. How do they do this? It all starts with the data.

Today, all organisations (big or small) should have the capabilities to embrace a data-driven model where employees can extract insights from data and create a holistic picture of their customer segments. In fact, according to a recent Forrester report, customer insight-driven companies are growing significantly faster than their competitors as they are able to optimise every aspect of their business. With the right tools that can utilise data generated from disparate sources, customer data can easily be transformed into the greatest business asset ever.

Transform company culture

Collaboration is the key to success. All stakeholders, departments, and employees within a business need to be aligned in order for creative disruption to take place. Nothing can happen in isolation.

Marketing comes to the forefront in this process, with the most knowledge on customer behavior and touchpoints, lines of business have a clear view on overall business objectives and challenges, IT has the engineering and knowledge to implement advanced technologies, and every employee has a role to play in developing company culture and their own individual skills. Everyone needs to work together.

At the same time, it is essential for business leaders to embody the spirit of innovation, encourage company-wide adoption of disruptive technologies, and focus on the upskilling of every individual worker in order to create an innovative company culture. It starts from the top, but needs to trickle down to everyone.

Embrace the skills future

The people make a company. No matter how smart the technology, strong companies are built on skilled employees who know how best to leverage information and technology for greater business value.

However, as reported by recruiting experts, Hays, today there is still an IT skills gap in Asia Pacific and it is essential that current employers provide the right training and opportunities for employees to hone their skills. At the same time, businesses need to work together with the public sector, academic institutions, and talent placement organisations to ensure the right people are given the right opportunities and placed in the right jobs. 

From a business perspective, the onus is on leaders to ensure their teams are given opportunities to upskill, collaborate, and stay in-tune with innovative technologies and new business processes.

Find the right partner

One way for companies to get smarter is to find the right technology partner to drive their data strategies.

With the growing demand to process and analyse massive volumes of data, the right technology will enable companies to leverage various data types and unlock insights and value.  The right partner can help bridge the IT skills gap by expanding the skillsets of employees through training and support. The right partner should no longer just be in charge of infrastructure or implementation, but should be fully aligned with business objectives, strategies, and needs in implementing the technology. The right partner should help drive businesses to ask more questions of their data, find more meaningful answers, and make smarter decisions.

There is no doubt that the future of any businesses today lies in disruption or destruction. Only then can companies effectively embrace much needed technological change in this digital era.  

This article was first published in The Business Times.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.