Today, technology innovation offers business leaders unique opportunities to transform their organisations, from their business strategies and processes to the customer experience and the way their employees work. As the current COVID-19 crisis has proven, businesses must learn to adapt and reinvent themselves continuously, embedding change and agility into their operating models, to create and sustain competitive advantage. CIO and IT leaders traditionally functioned as the foundation to keep a company running, but with the advance of technologies, a vast array of capabilities and sources of competitive advantage are emerging beyond a business’ traditional walls. Regardless of their size or industry, many companies today, are finding themselves in need of guidance when it comes to tackling their biggest business challenges. To get the most out of technology innovation, businesses need to have the right skills in place. That’s when collaborating with the right team of technology, and industry experts can help drive value creation in a way businesses wouldn’t be able to do in isolation.
Advantages of an Alliance Ecosystem
Many business leaders are dazzled by the range of alliance ecosystems in the market and find it hard to select the right partner. Especially when it comes to developing new business strategies and models, the ability to identify and work with partners is a powerful source of competitive advantage that can supercharge your company’s innovation. By 2023, IDC predicts that the global economy will finally reach ‘digital supremacy’ with more than half of all GDP worldwide driven by products and services from digitally transformed enterprises. A closer look at the top ten worldwide IT industry predictions in the IDC’s FutureScape, reveals that enterprises must be prepared to form new digital ecosystem partnerships across industries that can enhance their customers’ experience. By 2025, 20% of revenue growth will come from ‘white space’ offerings that combine digital services from previously unlinked industries, and one-fifth of partners will be from previously unrelated industries.
COVID-19 has disrupted every element of global business and demonstrated why digital transformation is critical. As a global recession looms, organisations are faced with a decision whether to follow the traditional path of cost-cutting investments or leverage technology and digitally transform. CIOs need to understand the role of an alliance ecosystem to leverage and transform economic connections into competitive advantages. Leaders will need to assess how much interaction and determine the type of relationship with the partners that will drive innovation for the enterprise across many channels. These relationships will depend on the project and end goals, as the organisation must balance trust and control when creating a diversified engagement strategy. Partnerships based on shared values and trust deliver mutual benefits beyond transactional. How should you go about this? Which are the key capabilities these ecosystems need to have?
Industry expertise and a global reach: Successful digital transformation and project implementations are based on a deep understanding of the client and their business/industry. Technology trends and digital transformation are creating endless opportunities that translate into more complex solutions that no single company can provide all the answers to. Your selected network of partners needs to be made of industry experts and have the solutions, software, and services ecosystem that will let you make the most of the digital world and that can back your organisation up with own resources and expertise.
A culture that fosters collaboration and embraces change: One common mistake in technology implementations is not considering cultural aspects and assuming that the project will go well relying only on the expected synergies, without addressing how to bridge potential operational or cultural differences. In many companies, the implementation of a new system can cause internal resistance. Change management and training programs that nurture a collaborative and inclusive culture is another essential ingredient of successful implementation. Ecosystem partners must be aligned culturally on their values to effectively harness new technology to its full potential and to drive people-centric transformation towards business goals.
Robust methodologies that enable agility and flexibility: to drive greater efficiency or customer experience organisations in every sector understand that they need to be quicker and flexible. The partner has to bring the right set of agile tools, delivery methodologies and standardised business processes to help identify opportunities for improvement through benchmarking and analysis, supported with ROI and develop a detailed plans supported by the full spectrum of expertise to address all phases of the project development.
A Case Study: TIP de Mexico – Trailer and Auto Finance
VIP Apps Consulting works with companies in the leasing and asset finance industry, around the world on their technology implementations and business process optimisation projects. Here is an example of how we have helped TIP de MEXICO, one of the largest and well respected Trailer and Auto Finance companies in Mexico create a scalable automated platform providing the ultimate flexibility in controlling units across their lease portfolio, delivering key areas of enhanced efficiency around seasonal trailer movements and associated services. Our client was engaging in a hardware upgrade; in doing so, they decided to undertake a complete platform replacement and simplification project. As with many clients over time, the company had built numerous custom applications to address point solutions and isolated business requirements. They approached VIP Apps Consulting to advise and implement the leasing platform, having successfully deployed similar solutions at their sister Mexico equipment finance business. The VIP Apps Consulting team brought to the project a deep understanding of the industry and the finance transformation capabilities, best practices and lessons learned to consider the integrated solution that would be right for the client. These were combined with a local alliance partner ERP Soluciones (ERPSol) for local technical and compliance strengths. The VIP Apps Consulting team fostered a spirit of collaboration with TIP’s Technology team, business management, key users and ERPSol consultants, working as a single team we delivered a robust solution with new portfolio controls and visibility.
‘It has been an honour and a pleasure partnering on this project with the professional VIP Team. At this moment, TIP MEXICO has the platform to increase and improve services for our customers. Thank you very much to the whole VIP Staff; your support and guidance were crucial to reach our dream. Congrats MISSION ACCOMPLISHED!‘ Guillermo Llantada, Director of Systems & Quality, TIP Mexico.
‘Our partnership has allowed us to provide expertise and services in the Leasing Industry and guarantee Customer Satisfaction in Mexico.’ Rafael Yanes López, Director General, ERP Soluciones.
VIP Apps Consulting is dedicated to working with its partners to deliver the right technology solutions and services to meet the evolving demands of businesses today. Our business process first approach and proprietary methodologies ensure that our clients receive the best experience possible. VIP Apps Consulting will harness the power of its Alliance Ecosystem to help your organisation address industry specific opportunities allowing you to transform your organisation and realise additional value of your technology investment. Learn more about our Alliances Ecosystem and Delivery Model.