In a crowded marketplace, the ability to innovate is critical to business success. However, for many enterprises, the cost of innovation is proving a significant challenge. To outperform their competition, enterprises are under pressure to reduce product prices, whilst continuing to innovate and apply new technology advances that are revolutionizing the marketplace. During my discussions with CIOs, I am often being asked to share my opinion on how best to resolve this dilemma.
It is important to first understand what it is that’s stifling and making innovation so costly. The huge transformational potential of digital is actually part of the problem. That’s because any new innovation or change requires connecting the new digital and cloud-based applications to existing IT systems. Further, the data needed for innovation applications can be incredibly difficult to access because it is all too often hidden within business silos.
I’ve witnessed this at one of our automotive clients where the CIO had to address these challenges. To fuel innovation and support business objectives, the CIO decided to enable an API economy that would help the company seamlessly deliver business services as composite applications. To support the CIO’s API strategy, enterprise IT needed an API and hybrid integration platform. Instead of spending years developing one, they chose an adapted Capgemini Enterprise iPaaS. This not only helped them accelerate their innovation journey but also moved them to a consumption-based, flexible pricing model.
But even before such a platform is deployed, enterprises seeking to innovate at pace must take another vital step.
From vision to reality
While IT might have a clear tech vision for an enterprise integration platform, a sound business case must first be built around how it might increase speed to market, drive sales and help the company reach clients in more accessible ways. Without this business case, IT will struggle to excite the company’s leadership enough to propel the vision into business reality.
I’m sure this scenario will be familiar with CIOs across many sectors. How do you sell a new API platform to the board? I believe that nothing works quite like a practical demonstration of the art-of-the possible when pushing innovation.
For one of our clients, we delivered a pre-defined business outcome to help the CIO demonstrate to the Board how Capgemini Enterprise iPaaS could be the foundation for fueling innovation through an API economy. We made this possible with our Accelerate service option, which helps project teams use the iPaaS to quickly deliver a pre-defined business result. For this particular client, this led to crucial business buy-in to drive full-scale adoption of the platform that would enable an API economy.
Innovating at speed
This is precisely the approach that I suggest to my clients. Irrespective of their industry or size, I believe that every enterprise today needs an API and hybrid integration platform that can enable their digital transformation and support rapid innovation. The ability to innovate at speed requires not only the enabling integration platform, but the ability to position this as the enabler of business outcomes to the leadership.