At CJC, we've always believed that innovation and collaboration are not mutually exclusive.
In 2016, a Harvard Business Review Analytic Services Report heralded the dawn of a golden age of business innovation. It suggested that this had been triggered by technological advances such as the maturing of the cloud, smart mobile devices, big data analytics and social networking, all of which had converged to form digital platforms – and a new digital economy – for rapid business innovation.
The report went on to say that historically, incumbent market leaders had taken the fast-follower path to innovation. Yet given the speed at which some opportunities were (and indeed still are) emerging and the extent to which first movers were dominating, fast-follower had become high risk.
The same could be said of traditional approaches to deal making. Mergers and acquisitions require one company to have enough resources to buy another and entail rigorous, time consuming negotiation and documentation. Joint ventures, although less complex, also require a high degree of rigour around revenue and cost sharing.
The report concluded that while M&A and JVs would always exist, in response to current pressures, companies were gravitating towards a new form of alliance.
Most organisations, particularly in our sphere of financial technology, claim innovation and collaboration as key components of their business ethos. However, many tend to approach these two concepts as separate approaches or skill sets.
At CJC we’ve always believed that innovation and collaboration are not mutually exclusive; they actually feed and build upon each other. Harnessing the right team and collaborating towards a clearly defined goal make delivery of innovative technologies far more achievable. And modern collaboration goes beyond purely internal teams and stretches to customers, partners, firms outside our industry and other non-traditional avenues. It’s these connections and the matrix of different views, experiences and expertise that drives innovation.
These are exciting times at CJC. Our commitment to collaborative innovation is bearing fruit in a business landscape rich in opportunity. In the coming days and weeks, we’ll be sharing how leveraging collaboration with leading industry partners, including Google and Solace, have helped us provide clients with the capability to revolutionise the management and support of their data infrastructure. And you may already have seen some important announcements about Karen Love and Steve Moreton, relating to how we’ve positioned ourselves to most effectively maintain, articulate and deliver our value to audiences.
There's more to come ...