Innovation is a key driver of the economy in any nation. But it should not be seen as a means to an end, rather it should be used with technology to achieve success.
Uber, for instance, isn’t a tech company, but uses business model innovation. The company used existing technology and added a twist of innovation for its pioneering success. African countries can learn a lesson from this. They don’t necessarily need access to new technology, they simply need to be strategic about how they use it.
Bankole Oloruntoba, the founder of Network of Incubators and Innovators in Nigeria, once said that innovation relied on people to solve problems by using their talents and skills. To come up with innovative solutions, one must see challenges as opportunities in disguise.
How it works together
Since information technology plays a major role in the economy, it’s vital to develop key infrastructure to support it. In addition, information technology helps to reduce costs, enables more proficient deployment of processes and brings products to market more efficiently than in the past. Companies cannot grow through cost reduction and re-engineering alone, innovation is the key factor to provide top-line growth and increase bottom-line results.
Is your IT infrastructure geared for innovation?
Organisations on the right path are deriving competitive advantages from technology or actively investing in IT infrastructure to survive amid digital transformation. This is creating a data-driven ecosystem across the entire supply chain and disrupting every industry.
CEOs need to guide their businesses to become technology-led – to achieve this, IT solutions and services must be fully integrated. Processes should be run by data-driven, software-defined autonomic systems. A shift to a technology-led model allows for more innovative ways to grow your business. Think of Airbnb and Uber – they invest in highly scalable, technology-driven concepts and sophisticated IT infrastructures that allow them to compete with larger businesses.
Holding onto a legacy infrastructure will not help you to improve innovation in your business. But thanks to an evolving cloud computing market in Nigeria, companies can outsource virtually any aspect of their physical or virtual IT infrastructure. This helps to rid them of on-premise data centres so they can focus on their business.
Managed infrastructure services offer a spectrum of benefits, including reduced capital expenditure. Since you don't have to invest in the maintenance of hardware and increased network performance, all the heavy lifting is handled by the provider.
It’s about getting away from activities that don’t add value (like patching servers or worrying about data-centre energy consumption) to activities that drive the business’s bottom line. Innovation needs time to be developed in your business and requires access to the right technology to support it.
Lead the way in your company by creating a digital transformation strategy. Read our step-by-step e-book to learn more.