By Koh Kheng Wah, Principal Consultant at Askvisor
Innovation-as-a-Service Consulting
In today's dynamic markets, companies are facing escalating demands for constant reinvention to remain competitive and relevant. SME managing directors/CEOs often have creative ideas on how they can transform their businesses but in many cases, they struggle to execute their ideas due to factors such as incumbent staff with fixed mindsets and/or obsolete skill set, lack of in-depth understanding of how to harness technology, and not having a methodology to systematically manage innovation end-to-end.
When SMEs engage the services of external vendors, acquire new technology solutions, and attempt business transformation in a piecemeal manner, many times they result in costly failures. Many SMEs face challenges in attracting top-notch tech talents to join their companies and also to retain them.
Innovation-as-a-service (IaaS) consulting represents a pivotal shift in how businesses can navigate the intricate landscape of innovation and business transformation. Just like software-as-a-service (SaaS), which enables companies to access top-grade software through cost-effective subscriptions, without having to undergo the pains of developing their own proprietary software from scratch, IaaS offers SMEs access to first-rate expertise and coaching on well-established innovation management methodologies to assist them in their business transformation journey, without the SMEs having to spend huge cost and effort to attract and hire a suite of experts with a variety of required know-how as full-time employees.
At its core, innovation-as-a-service consulting operates as a catalyst, empowering entities to harness the full spectrum of innovation possibilities while mitigating risks and optimising resources. It integrates a multifaceted approach that blends diverse disciplines, technological advancements, and agile methodologies to foster a culture of continuous innovation within an organisation.
The landscape of business is evolving rapidly, and innovation-as-a-service consulting recognizes the importance of staying ahead of these changes. Whether it's leveraging technologies like automation, augmented reality, deep learning, e-commerce, generative AI, AIOT, robotics, or leveraging data analytics, these consultants bring a keen understanding of how to apply these tools strategically to drive data-driven decision making, innovation and transformation.
End-to-end Innovation Management
IaaS consulting service extends beyond mere ideation, it offers actionable guidance and support throughout the implementation phase. This includes creating proof-of-concept prototypes, conducting feasibility studies, piloting projects, developing MVP, and scaling successful innovations. By providing this end-to-end support, IaaS consultants ensure that innovative ideas translate into tangible results, generating value and fostering a sustainable competitive edge for businesses.
Foster Innovation Mindset
IaaS consulting also acts as a conduit for fostering a culture of innovation within an organisation. By instilling methodologies such as design thinking, agile frameworks, and fostering cross-functional collaboration, our consultants coach and empower teams to embrace a mindset that values experimentation, risk-taking, and learning from failures. This cultural transformation becomes a catalyst for ongoing innovation, embedding it as a core tenet of the organisation's DNA.
Furthermore, IaaS consultants often serve as navigators through the complex terrain of digital transformation. In an era where digitalization is pivotal for survival, their expertise in navigating disruptive technologies and organisational change management becomes indispensable. They guide businesses in streamlining processes, reimagining business models, and harnessing digital tools to maximise efficiency, customer experience, and market reach.
The transformative impact of innovation-as-a-service consulting extends across various industries, from established corporations to startups. It caters to diverse sectors like education, finance, logistics, manufacturing, professional services, retail and wholesale, and more, recognizing that innovation is a universal imperative regardless of the industry.
Tailored Consulting
One of the advantages of innovation-as-a-service consulting is its capacity to provide tailored solutions aligned with specific organisational needs. IaaS consultants delve deep into understanding the client's context, objectives, challenges, and industry landscape. This comprehensive comprehension forms the bedrock for crafting customised strategies, fostering innovation from ideation to implementation.
IaaS consultant addresses the pain points of SMEs by offering a comprehensive innovation management framework that leverages its network of consultants with specialised expertise, well-tested methodologies, forward-thinking strategies, and cutting-edge technologies know-how, to support businesses and organisations in their innovation and transformation endeavours. IaaS consultants can also facilitate SMEs to collaborate with tech startups, with institutes of higher learning, and with institutions such as UOB-SMU Asian Enterprise Institute, enabling SMEs to tap the emerging technologies of startups, expertise of professors, and talent pool of students.
In conclusion, innovation-as-a-service consulting stands as a beacon for businesses and organisations seeking to navigate the disruptive, somewhat “messy” process of innovation and transformation. By integrating strategic foresight, technological prowess, and cultural transformation, it equips entities with the agility and resilience necessary to thrive in an ever-evolving marketplace. This paradigm shift isn't merely about staying ahead; it's about leading the charge towards a future defined by continuous innovation and sustained success.
About the author
Askvisor, a pioneer in innovation-as-a-service (IaaS) consulting, provides family businesses, SMEs, and non-profits with innovation management, technology, and digital transformation consultancy. We support clients in Asia to stay ahead in the Digital Economy by helping them leverage suitable digital solutions, innovate new products/services, adopt agile and lean management practices, and build a learning and innovative organisational culture. Need assistance with your business transformation strategy and implementation? Learn more at www.askvisor.com or contact us at hello [at] askvisor.com.