The digital revolution is in full swing, and enterprises have no choice but to transform their businesses to stay ahead of the competition. Enterprises must utilise the power of technology be it cloud computing, AI, 5G mobile connectivity or big data to have customer-centricity and to win market share. Today, the reality is that even a small start-up company or a company in a totally different industry and geography can quickly emerge and disrupt the marketplace and be a strong competitor in a short span.
Innovation has become much more distributed, global, more frequent, collaborative and emerging from unforeseen and unpredictable domains. The McKinsey report of CEO Agenda in 2022 talks about harnessing growth jolts and asks some very pertinent questions regarding innovation, “Are you adopting a strong growth mindset in your medium-term strategy as the pandemic evolves? Are you spending as much time creating new businesses as you are improving your business?”
Innovation in Enterprises, therefore, needs to be about not just developing new ideas but being able to have them implemented and widely adopted to bring business value to customers and end-users to be a differentiator in the marketplace at the right time and add to the bottom line of the enterprise. With the pressure to create new avenues of growth in a globally competitive and disruptive marketplace with new technology unleashed in short cycles, the role of IT to innovate in business and add quick value cannot be overemphasised. No Code Enterprise Application development enables and sustains fast-paced innovation and is one of the disruptive technologies that enterprises cannot afford to ignore to support both radical and incremental innovation to find new market avenues for growth.
Here are some different types of innovation in enterprises and examples of what WEM No Code technology can accomplish in very short timeframes.
1. Product Innovation: This includes creating entirely new or improving existing products or services to the market to solve customer problems better than others in the marketplace.
To facilitate more efficient global meetings and presentations, DXC Technology’s Innovation Lab developed the “Virtual Broadcasting Platform”, a digital platform enabling business partners and customers to confer with start-ups in a virtual meeting room, especially during the pandemic. Two experienced WEM developers developed the platform in just a few days, linking together DXC’s existing local systems and the single sign-on process to ensure privacy and secure the meetings. This innovation was showcased at StartUp Autobahn has led to many more business opportunities in championing Innovation for DXC both internally and with their customers across many industry sectors. A great example of introducing a new product to the market is the SaaS product SateNav, an online tool to navigate through complex B2B sales, collaborate effectively, validate opportunities, and build productive customer relationships to better qualify, target and win sales opportunities. This SaaS product offering was developed in months using WEM No Code Enterprise platform and is already used in large enterprises to effectively close complex sales opportunities.
2. Process Innovation: This includes innovation in introducing new business processes or changes to the existing business processes in a radically different way that generates something highly beneficial to those who perform the process, those who rely on the process or both.
CTKClip, a very large cosmetic wholesale provider in Korea, completely digitised and revamped their B2B business model to stay competitive and grow. The entire B2B sales process was rethought and moved from a brick-and-mortar operation to a fully digital model and this has increased their market reach and sales by several folds.
3. Organizational or Strategic Innovation: This type of innovation deals with the implementation of new organizational methods to improve efficiency and effectiveness of business practices, workplace organization and remove barriers to agility.
In a large telco in South East Asia, innovation at rapid speed was required for exploring Joint Ventures with other enterprises in a different industry like Precision Agriculture. Here, WEM helped to rapidly innovate and make this kind of cross-industry collaboration and innovation at speed possible. In addition, WEM has been used to increase the visibility of E2E digital transformation programs, rebuild and modernisation legacy applications at speed and enable reuse of API and applications for quick ROI.
4. Technological Innovation: This involves innovation as a result of research developments, technical knowledge and improved scientific tools resulting in commercialisation of product design, development and implementation to address significant industry and market shifts for products and services.
For an iconic automobile manufacturing company, DXC Technology had to accelerate the process of “teaching” vehicles how to handle unique environmental conditions, manage the data generated by self-driving vehicles and identify novel situations to increase consumer safety and accelerate the development of the autonomous vehicle fleet. They achieved this innovation by utilising WEM to reduce “time to drive” and “time to analyse” for faster delivery of autonomous vehicles to the marketplace by automated end-to-end approach from data ingestion and processing to functional testing and in-car deployment, and accelerating progression through the sequences of autonomous driving levels for increased ROI.
Regardless of the type of innovation, it is imperative for enterprises to harness and accelerate digital technologies for innovation. In the examples above, we can see how WEM, No-Code Enterprise Application is used in enterprises to initiate, enable and sustain innovation. For enterprises to stay competitive, enabling and sustaining Innovation Capability at speed to continuously transform knowledge and ideas into new products, processes, services and systems to grow market share and solve problems is absolutely critical.