IT channel organisations across Australia and New Zealand continue face disruption from new technology, processes, and delivery methods.
Consequently, local companies must act decisively to stay ahead of the competition, as highlighted during the inaugural CompTIA ANZ Channel Community meeting in Sydney in August.
“There are a number of parallels between the IT industry today and the financial services industry in the 1990s,” says Moheb Moses, Community Director, CompTIA A/NZ.
“The IT industry is about to face some very challenging times, and disruption is around the corner for many companies.
“Currently, the IT sector is in a state where there are good relationships with customers.
“But don’t take them for granted, because someone else can come along and take all your clients. That’s what happened to the banks in the 1990s.”
Moses says that to continue to be a leader in the industry, companies need to think like a disruptor.
“How can you change, improve, and move quickly?” he asks.
In this climate of disruption, Moses issues five key steps organisations should take to differentiate themselves from their competitors:
1) Think like a disruptor
“Organisations need to maintain a mindset of change within the business,” Moses adds.
“Always think about how the company can change, how it can improve, and take note of what is going on around the business. Make sure the organisation is in a position to move rapidly.”
2) Remember your purpose
For Moses, it is likely that some companies need to revisit their vision or mission statement.
“Organisations need to know what their purpose is; and it might not be the same as it was just a few years ago,” he adds.
“To get customers and staff on board, companies need to be very clear about what they want to achieve.”
3) Know your value proposition
“Articulate the company’s value proposition, and know what it is on a number of levels; not just from a business-to-consumer or a business-to-business standpoint, but with all stakeholders,” he adds.
“Whether you’re dealing with customers or contractors, you need to make sure they stay engaged.
“They are also on the journey with you. Determine whether your value proposition has any unique qualities.
“How different is it to what everyone else has? Spend some time on trying to clearly articulate these things.”
4) Be nimble
Moses says it is important to be nimble and have a culture of change.
“This ties into disruption,” he adds. “If an organisation does not have a culture that is adaptable and can change, how can it be successful at leading the market through disruption?”
Encouraging nimbleness in an organisation may seem very simple, but according to Moses, it can be very hard for businesses with a history of doing things traditionally to make the necessary changes to establish a culture of change.
5) Analyse your competitors
Where a company sits in the market is vitally important, Moses adds.
“Businesses should analyse competitors, work out their position among those competitors in the market, and identify where they can reposition themselves if needed,” he adds.
Moses believes that if businesses really understand who their competitors are, then they can draw up strategies and work out ways to keep ahead of others.
“By following these steps, organisations in the IT industry, and other sectors, can maintain awareness of what’s going on in the market, and innovate through technology improvement,” Moses adds.