Innovation: From Idea to Realisation
Those who are not innovative lose out to the competition. The waves of innovation are approaching us with increased speed and magnitude. Today we bare witness to the emergence of new business models, products and services. Many companies are concerned due to the multitude of new technologies and the increasing likelihood of a disruptive business model entering the market. Establishing innovative approaches breaking up existing working processes can help to overcome this uncertainty.
Innovation means creating ideas, selecting those with value-adding potential from the pool and realising them as quickly as possible. It is possible to learn this by adopting structured processes and the right methods. The selected ideas need to be viable for implementation. Therefore, it is essential that even in this early phase the team has competence in realisation.
An understanding of the current business model is a precondition for increasing added value and for improving differentiation vis-à-vis competitors.
The aim of the innovation process is to generate new product ideas in combination with a viable business case. This can be done by using new technologies, optimising the processes or replacing existing business models with a disruptive approach.
Existing frameworks may be utilised in the realisation of an innovative software product. White labelling and targeted individualisation help improve today’s customer journey and quickly achieve competitive advantages. Moreover, not only the implementation of solutions but also the operation of the business can be undertaken on the basis of a full stack approach and realised externally. The main advantage of an externally hosted DevOps-aligned tech stack is a fast time to market without a time-consuming adaptation of internal structures. We hope you will enjoy reading this issue and that our project experience will inspire you to try out new approaches.