Capitalizing on innovation opportunities requires tech companies to adopt a new mind-set for technology investment.
Does your company have what it takes to keep up with the ever-changing demands of the market, or will it be left behind? Many global tech companies are already “walking the walk” by investing in transformative technologies that help them move more swiftly to capitalize on innovation opportunities.
In our 2019 Technology Industry Innovation Survey, respondents chose the same 10 technologies for their current and future investments. Topping the list were the Internet of Things, artificial intelligence, robotic process automation and robotics (including autonomous vehicles).
Almost half of all tech company leaders expect ROI within the first six months of implementing an innovative technology, and 71 percent expect it within the first year. But the road to funding new technologies has many obstacles, including complex technology with few to no business cases and a lack of workforce skills. Budgeting for capital investments also impedes new opportunities as it usually occurs once a year, restricting quick investments on must-have innovations that pop up. It especially strains smaller companies with less money to invest and less room for error.
Enter dynamic investing. This new flexible and continual model allows tech companies to capitalize faster on innovation opportunities. It asks corporate leaders to take the following key actions into consideration:
Dynamic investing encourages experimentation, enables the enterprise to shift capital among various technology bets, and redeploy capital during the fiscal year. It also helps to level the playing field for smaller companies that must compete against tech giants with more cash flow and more room for risk.
Explore how global tech companies are funding technology at market speed and achieving fast pivots on technology bets with dynamic investment in “Investment in technology innovation.”