How to drive innovation and grow your enterprise when change is imminent
Few of us could have accurately imagined the turbulence and change 2020 would bring. Responding to a pandemic and abiding by the required social distancing guidelines have raised concerns for everyone, and enterprises are no exception. The upside to seasons of change is they provide a chance for businesses to demonstrate how innovative they are in their response. The forward-looking enterprise uses these challenges to home in on ways to accelerate their core applications and powerfully grow their enterprise.
Three tenets drive enterprise innovation in the face of change:
1. Be bold and take the lead with new technologies
Today’s most nimble companies are the most successful. As businesses are challenged to address some of the world’s greatest problems, it makes way for enterprises to rethink how work is done. Long-time IBM partner and leading electronics provider, Samsung, has been leading the charge with 5G technology.
Their focus on how 5G technology enables new ways to work seems particularly prescient. Inside the enterprise, 5G amplifies other technologies — edge computing, artificial intelligence, internet of things, augmented reality (AR) — making them work better and raising their value to the enterprise. For some time now, AR has been used by field workers practicing Industry 4.0, which marries traditional manufacturing practices with smart technologies. Using 5G, employees can access real-time, peer-to-peer guidance in the field without lag time or memory restrictions. It makes remote work easier, while also raising productivity levels. A field tech can also access an expert located anywhere, using 5G networks. Those networks enable stable and fast communications between mobile devices, no matter how far apart or how large the files are that are being exchanged.
2. Uncover and promote new capabilities to stay competitive
To remain competitive, multinational telecom company Vodafone must anticipate customer demand. That requires unlocking the data generated from its 41 million customer accounts. It also means creating better alignment between its online and retail businesses. A key step towards those goals was to update its aging Enterprise Resource Planning applications, moving business operations to SAP S/4HANA. These essential upgrades can’t be put on hold, even in uncertain times. The IBM Rapid Move process helped Vodafone fast-track this shift, offering an accelerated timeline for the migration.
The update to SAP S/4HANA went 50% faster than a traditional upgrade project. It also allowed the company to reduce data storage requirements by 90% and eliminate custom code by 60%, freeing up even further innovation opportunities that will more closely link the online and retail customer’s experience.
3. Maintain a customer-first mindset
Being innovative doesn’t always mean creating new tools or processes. Using an existing data center to improve customer experience goes a long way in the current business environment. LuLu Group International, a multinational firm that operates hypermarkets and retail chains, relies on SAP HANA to better understand customer needs even in challenging times. And IBM infrastructure underpins its SAP HANA implementation. That combination allows LuLu to adapt quickly to shifts in business needs, to be resilient in the face of wild swings in demands, and use all its resources to scale economically.
Being that responsive, even during a highly volatile retail atmosphere, helps LuLu keep customer demand and experiences at the center of all its business initiatives.
Change is inevitable; that axiom has never been truer. Yet change should not stop innovation. Instead, it should advance it. Even in trying times, the enterprise can realize its potential as it rapidly accelerates toward the future.
Your core business applications are the backbone of your enterprise. Learn how to accelerate these applications, even in times of change, and how IBM can help. Listen to the virtual IBM Think 2020 sessions for more information on how Samsung, Vodafone and LuLu Group International achieved their objectives.