I was asked an interesting question this week. ‘Ok, money no object, we have 18 months to maximise our value creation plan. What does the technology side of that look like?’
You probably say something similar to your portco management teams. How long does it typically take them to get their head around creating value? A week, a month, the second or third board meeting? What about your technology teams and leaders? Is it the same, or does it take longer?
Reducing friction in making change is key to creating technology value in 2022
You might recognise these symptoms from working with your portco tech teams (we also mentioned them last week). These are all signs of unwanted friction in the technology change-making process:
Tech change is hard. Cost is increasing while user experience is degrading.
The benefits of being in the new platform or technology aren’t realised.
Service outages and platform Instability are occurring despite increased investment.
Acting on these early in the investment will keep your value creation programmes on track. As a result, you can work toward creating a frictionless technology change platform.
Frictionless technology change means being able to react, predict and adapt to changes in the market fast!
You’ll know you’ve created a frictionless technology change platform when:
The value of change can be easily measured and forecasted.
New platform or technology programmes are predictable, even when the cloud is involved.
Your customers/users receive an excellent experience; you can react to their changing demands when and before it’s needed.
Where does frictionless chance sit on your value creation plans for 2022?
Where do you see the next unconsidered value being created for your portcos? Is it with technology, data, or it is somewhere else? Please let me know your thoughts.
Until next time.
P.S Of course, within reason money, is an object, but at the same time… I’ve just repainted the walls in my living room from Sage green to Pistachio crème. Inexpensive change. Big difference.
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