The deluge of emerging technologies existing in the financial services domain makes it a difficult choice for companies to choose from. Considering the high value of investment firms need to make, they always prefer to choose technologies that could deliver real-time business benefits. Therefore, to be on top of the game, it is essential that you make the right technology choice. In this article at Forrester.com, Oliwia Berdak shares some major findings from the 2018 Financial Services Summit recently held in London that could help you in this regard.
Past is the key to future – The technology developments of the past century are a storehouse of valuable lessons. They can teach you about the need to innovate, emphasize on better outcomes and drive merit-based talent development approach.
Dominance or monopoly doesn’t exist anymore – Gone are those days when limited people had access and resources to leverage emerging technologies. Now, it has become a common discussion topic. Keeping yourself updated on the latest developments in this field can help you build confidence and credibility in the official matters.
Maintain a balanced portfolio – It is essential for seasoned professionals to have a three-dimensional approach while implementing new technologies. The first dimension focuses on the immediate actions required to deploy the technology within 1-2 years. The second dimension looks at the practical needs and requirements necessary to sustain the technology after 3-5 years. Lastly, the third dimension considers the long-term impact of the technology after 5-10 years of deployment.
Have an innovative blend – Random transition from one technology to another will never get you the best results. Rather integrating and deploying a perfect blend of emerging technologies can be considered real-time innovation.
Adhere to the business strategy – Develop a clear strategy and select the technologies that are more likely to bring the expected results in terms of revenue generation, profit & loss, cost reduction and market share expansion.
Establish Agile framework – Given the current state of competition, organizations that are more adaptable can sustain the technology waves better. The 2017 Forrester Agile Panel Survey discovers that the combined application of Agile + DevOps has worked better for companies than Agile alone when it comes to sustainability.
To read the original article in full, click the link here – https://go.forrester.com/blogs/how-to-ride-the-technology-wave-and-not-get-swept-away/