Innovation in the business world is often perceived as opportunity by those doing - and benefiting from - the innovating. For other businesses that change unwillingly impacts, however, innovation often feels more like painful disruption to an already risky status quo. Our little region of the Pacific Northwest is the proud home of Powell's City of Books, the world's largest independent bookstore. We're especially enamored with it now that online and digital enterprises have made similar brick and mortar bookshops such a rarity. For Amazon and Apple, this transformation in how we buy and read books is opportunity. For Barnes & Noble, Waldenbooks, Crown Books, and many others, the rapid dismantling of their longstanding business models could only be interpreted as disruption.
Disruption is more than competition. Disruption is fundamental change in the way products or services are provided to consumers. In order to survive disruption, businesses now more than ever need to be able to adapt rapidly to new products, new sales approaches, new pricing models, entirely new business models, or a combination of the above. According to Mint Jutras, an independent research and advisory firm specializing in Enterprise Resource Planning (ERP) software, choosing the right ERP technology can help your business remain nimble during periods of disruption. The value of agile ERP is in giving an organization a competitive advantage when it counts the most.
Get the full story in this free Mint Jutras white paper:
The Value of Agility in ERP During Disruptive Times
Disruption Is Not New
While the advent of the digital economy made radical disruption by other companies like Airbnb (to the hotel industry), Uber (to the cab industry), and Netflix (to the home video industry) possible, the Mint Jutras study warns that more traditional forms of disruption are still alive and kicking. Growth and regulatory changes, in particular, can force hard-to-manage chain reactions inside organizations. Regardless where the turbulence comes from, these forces can cause changes to accounting methods, reporting requirements, fulfillment methods, service demands, and other core aspects of a business's structure.
The bad news here is the Internet: It has amplified these provocations within and around companies. The good news here is the Internet: It has generated technology platforms that allow smart, well-positioned companies to ride growth and regulatory changes like waves of opportunity. The difference between success and failure is having a modern, readily customizable, possibly cloud-based ERP solution that empowers - rather that hinders - your company's response to shifting forces in the marketplace. If your organization's technology is able to adapt organically to disruptions that occur, it can actually flourish during times that less well-positioned companies characterize as threatening. Agility and mobility of a tightly integrated system is therefore critical.
According to the white paper, 53% of respondents believe that there is a medium or greater risk of their industries experiencing disruption. Those that intend to survive through disruption are beginning the work of updating from their old, rigid ERP technologies as a means of thriving during the interruption and making change management a competitive differentiator. Is your organization wondering if future innovation will bring opportunity or disruption? If you need a new solution in order to stay agile, the best way to begin the process is finding the right fit between your needs and the many offerings available.