The New Virtual Reality
One of the lessons COVID-19 has really taught us all is the ability to effectively work, meet and collaborate remotely for longer periods of time. Thanks to Virtual Workplace and Virtual Meeting solutions that have matured over the years, the adoption of this new Virtual “REALITY” was quite easy.
The post COVID-19 era will see new behaviors emerge which will allow this Virtual “REALITY” to continue and also at the same time force the adoption of new technology innovations. These innovation needs will drive the objectives of the new era around optimizing business processes, reducing human intervention, increasing virtual interactions and allowing new ways of doing business, whether online or offline in a collaborative manner. Adopting such technology innovations is a time consuming process and typically takes anywhere between 9 to 12 months. However the Virtual “REALITY” mode of operations will stretch this to 12 to 18 months, slowing the innovation process in enterprises at a time when the Art of Survival demands we adapt and adopt faster than ever.
For businesses to effectively work in a Virtual “REALITY” mode and innovate faster, we need open and virtual collaboration platforms for specific purposes and industries. Such dedicated platforms need to bring all the stakeholders together to help search, find, connect, engage and drive co-innovations thru new partnerships
The Tech Innovation adoption lifecycle will also need such a collaboration platform to work in the Virtual “REALITY” mode. Currently this adoption lifecycle which takes at least 9 to 12 months is at risk of taking longer due to the post COVID-19 era behaviors. In order to ensure enterprises drive continuous innovation, it is now critical to cut this process timeline, as described below, down by at least 50%.
A typical tech innovation adoption lifecycle follows these steps, it does not include the commercial process of RFP, negotiations and contracting.
- Search & Find – Looking at different sources of technology innovation for potential partners can take anywhere between 4 to 8 weeks.
- Connect & Engage – Reaching out to the sales and technical teams, especially among tech startups across the globe, can take 2 to 4 weeks to have those initial discussions to filter out.
- Evaluate & Shortlist – The next step of evaluating the identified partners and shortlisting them to a meaningful number to run an RFP or pricing, can take anywhere between 4 to 8 weeks if not longer.
- Test & Select – The shortlisted partners need to be tested for their products capability to meet the functional, operational and user experience requirements. This testing phase can take 6 to 12 weeks.
- Deploy & Pilot – Once the sourcing team negotiates and contracts with the chosen Technology partner, the technology implementation & integration with existing systems can take minimum 6 to 12 weeks with a short Pilot phase.
The key beneficiaries of such a collaboration platform are the technology vendors, IT service providers and enterprises, allowing them to adapt to the new Virtual “REALITY” and continue to drive success.
vBridge Hub is the only platform that can address this need of the new Virtual “REALITY” in the Technology Adoption Lifecycle, allowing businesses to search, find, connect and engage in order to collaborate and drive co-innovation.