Recognizing the need for speed to market is the next issue in our 10 part series on keeping your business agile. In part 3, we discussed managing uncertainty but this week we are looking at another business issue:
#7 Business Issue: Improving speed to market
While lead times, and customers who change their minds make it challenging to create the perfect balance between inventory and demand. If businesses want to beat the competition, they need to keep an eye on improving speed to market.
Speed does matter. Big Data, business intelligence and cloud-sourced analytics are key components propelling our marketplaces into hyper drive. Developing appropriate solutions that quickly accomplish your organization’s business intelligence goals is our next topic.
3 ways speed to market can benefit your business:
- If you are the first to talk to customers and prospects about a new idea, you will get the spotlight.
- The window of opportunity is open when you are first.
- A quick implementation of sales and marketing materials can keep the momentum going for your company.
How quickly can your company identify and capitalize on opportunities? How quickly can your company respond to changes in the marketplace?
In today’s environment, products and the technologies they’re based on change very quickly. So do the number of competitors for market share. For this reason, time to market is a critical component that directly affects revenue. For example, if your product launch is delayed, that gives your competitor more time to grab market share, and less overall revenue for you to pursue when you finally do go to market. So the better planning and control you have over your product development processes, the better you’ll be in position to respond.
Here are some additional reasons companies care about improving their time to market:
- Efficient resource management —
- Predictable schedules and launch dates —
- Increased total revenue
#7 Business Priority: Virtualization, your answer to digital transformation
In computing, virtualization refers to the act of creating a virtual (rather than actual) version of something, including virtual computer hardware platforms, storage devices, and computer network resources.
It is the single most effective way to reduce IT expenses. At the same time, boost efficiency and agility for all size businesses.
There are several types of virtualization:
Server virtualization enables multiple operating systems to run on a single physical server as highly efficient virtual machines.
Network virtualization allows applications to run on a virtual network as if they were running on a physical network.
Virtualized desktops and applications can also be quickly and easily delivered to branch offices, outsourced and offshore employees, and mobile workers using iPad and Android tablets.
Virtualization vs. Cloud Computing
Although equally discussed technologies, virtualization and cloud computing are not the same or even interchangeable. Virtualization is software that makes computing environments independent of physical infrastructure. Cloud computing is a service that delivers shared computing resources (software and/or data) on demand via the Internet. These are complementary solutions. To create even greater agility, businesses can start by virtualizing their server, and then move to cloud computing
#7 Business Challenge: Regulatory Compliance
Because directing an organization of any size through the complete and accurate compliance process is a daunting endeavor. There are a variety of tools that deliver the automation necessary to perform a comprehensive scan of your business networks.
Finally, an effective compliance assessment solution identifies potential risks and violations. It will create all of the required reports and supporting documentation needed to maintain compliance. If you would like to learn more, EN Computers has a solution.