A recent study by Forrester provides a striking insight to the changing face of innovation. Customers are increasingly depending on their vendors for innovation, due to lack of in-house skillsets to generate ideas or the money to invest in research and development. This is a big opportunity for vendors to formulate a model that can create innovation for their customers.
But there are some differences in the way innovation is perceived by the client and the vendor. Firstly, clients are not looking at just some ways to save costs and are instead looking at ways to create competitive advantages, improve market share and double the ROI.
The research showed that not many vendors succeed in meeting this expectation. There are some good reasons why they fall short:
Companies want their vendors to come up with ideas that can create value and even change the way the business is done! For this to be articulated, clients would also have to, invest in areas other than just IT and work on;
Fostering relationships will help vendors understand the business in depth and will also play a better role in formulating business strategies and facing challenges. This would help evolve into a system that will take innovation to a newer level, one that will involve joint ventures and joint intellectual property.
At Suyati Technologies, our Dedicated Global Team (DGT) model helps our clients achieve competitive advantage by trying to articulate innovation and translating it into robust applications. By its very nature, DGT makes sure that any concerns you may have about outsourcing – IP security, inter cultural communication issues and flexibility in the velocity of application delivery – is taken care of. This is especially beneficial when you need to complete small, time bound projects economically. Our on-time delivery, transparent cost structure and competent project and process management is helping our DGT and Suyati build long lasting relationships with clients all around the world. Including Spain!