The time is truly here, looking to accelerate one more process in our lives, this time we are looking to accelerate digital innovation. We are no longer a part of the digital era and have moved into the post-digital era. Almost every organization is moving to an entirely digital set up due to the fact successes are based on the ability to have great digital competencies in place. This need to bring about change, and delivering personalized experiences requires a new kind of system that allows their immediate creation. This is what is bringing businesses towards asking the question “how to accelerate digital innovation”.
We are in the space where going digital and having IT set up new applications is just not enough. So, in this article we are going to dive into what digital innovation is, why digital innovation is important and what some technology trends are that can help you and your business achieve post digital success.
Addressing the elephant in the room: What is digital innovation?
Every industry in existence today is in a position to be benefitted from digital tools. The nature of work has changed and it is digital. At the core of it all, digital innovation is the way to go and all we can do is accelerate digital innovation to improve existing business processes, efficiency, and business models.
Why is it important to accelerate digital innovation?
Be it work consumption of digital consumption. There is always a digital component. Studies have shown that 89 percent of all organizations are in the process of adoption of an all-digital business plan. This means digital innovation trends and technology will be at the forefront. On the other hand. It has also been seen that companies that are not truly embracing the digital future are falling behind and running the risk of becoming obsolete.
For example, let's look at Kodak. They discounted the force of the digital transformation that smartphones would bring about and lost out on a huge chunk of the photography business. I mean things are quite clear and there is a problem if we don’t see it. The world's largest taxi service owns no cars and mobile applications can be built in a matter of a few days. It is a world of disrupting or be disrupted.
Differences between Digital Innovation and Digital Transformation and the need to Accelerate in this space
Digital transformation is the continuous process in which a business is transformed and improved by changing its method of operations. This is not only about technology adoption but also the mechanisms that run it, the people of the organization, and the way all this shaped the portfolio of the organization as a whole. Accelerating digital innovation would be more on the lines of the whole business than anything else.
Digital innovation on the other hand is the creation and/or development of new technology that will help a business or a group of people. Digital Innovation looks at taking existing technological tools and making the most from them, almost as a precursor to digital transformation. Accelerating digital innovation means setting the foundation to accelerate digital transformation.
Supporting and accelerating digital innovation in a business setting
Low code and no code software are at the forefront of this move to accelerate digital innovation. An advanced no-code platform like Quixy has the capability of facilitating application development, even by non-technical professionals, in a matter of a few hours. Such applications act as the catalyst for businesses to take bigger steps in digital directions.
1. Use Hybrid IT
Traditional IT cannot be replaced by the likes of no-code and low-code overnight, or for that matter potentially ever, but they can be placed to coexist and help one another. Every environment in an organization is connected by IT and the hybridization of that function should allow all these minds to think to accelerate digital innovation and transformation.
2. Create Better App Experiences
With thousands and thousands of applications that exist to solve every problem known to mankind it is important that the ones you create, even if they are for organizational use only, are customized. People are looking for immediate solutions to their problems and they want them to be easy and accessible. Understand the activity and use that to create transformed digital experiences.
3. Think Hard and Fast in the Area of Security
Digital innovation and transformation lead to huge potential to change the trajectory of a business, but like every great idea it comes with a set of its own risks. While implementing intra and inter business digital innovation, workflows and roadmaps must be set in place to ensure data and personnel security. Remember to pay heed to new situations and choose software who have systems in place to combat such problems.
4. Prioritize Advanced Analytics
The ultimate goal of a business is to maximize profits while minimizing efforts. Digital innovations, especially through no-code and low-code makes a lot of space for that. Therefore, while enabling and accelerating digital innovations, ground rules must be set in place to honor existing business processes and only changing them where the data suggests there is room for improvement. You want to make sure your analytical model is satisfied by the steps you are taking in changing the functioning of your business.
5. Design for Heavy Lifting
While innovation is always a fun filled activity, look to building systems that will last for a long time and in all their necessary capacities. For example, if two business functions in your business work closely, innovate a software that overlaps between the two functions and allows both to work faster, together. There is no point of designing a pretty software that only serves one small purpose.
6. Encourage Innovation
Workplace no longer is equally about the work and the place, today it is all about the work and the place no longer matters. However, in most situations people work better if they are in the same place and sharing ideas. While this may not be possible physically, always look to remind employees that innovation is encouraged and that productivity will be rewarded. This also becomes a great way to cultivate comradery and integrate new employees.
Why is this relevant to my business?
Gartner predicts that by the year 2025, all industries will be completely transformed by digital. And, as we have stated the root of transformation is innovation. In the simplest of words, you must accelerate innovation in your organization to ensure you are not left behind.
"Gartner predicts that by the year 2025, all industries will be completely transformed by digital."
Digital innovation is a silent forerunner in changing how business works in today's day and age and we have your back to become a part of all this change.
Vivek Goel, Vice President (Marketing and Evangelism), Quixy