How to push businesses in taking a faster track to innovation with reduced risk and cost..
The ebb and flow of diversity in today’s businesses has been incredible. Unbelievable things have happened and it's only getting more unpredictable. This includes technology, people, cultures, processes and more. Innovation can be popped up from the obvious and non-obvious areas. It is now time to consider going beyond traditional forms of doing businesses so as to have a broader perspective for exploring areas that can change the way businesses work.
According to research on disruption conducted by the Economist Intelligence Unit (EIU) and supported by EY, nearly a quarter of organizations have used M&A and JVs as avenues to address or drive disruption. This is exactly why InvenTrust is creating an online ecosystem for all global businesses to join and interact with fellow innovators and take their offerings to the next level. We are also enabling the opportunity for companies to shift towards more fluid and agile alliances.
As time progresses, innovators (individuals, start-ups, corporates) must adopt the peer-to-peer model. According to EY Digital Deal Economy Study, mashups will become increasingly popular in a marketplace driven by digital disruption: 58 percent of companies with underleveraged data, intellectual property or other assets said that they would enter an alliance to enable the monetization of these resources. Digital disruption is a reality today. Any innovation, big or small, is not dependent on just domain knowledge and customer relationships. It is an outcome of careful and strategic investment and expertise in analytics, cloud services, wireless connectivity, software, and security. Only a few companies have these under the same roof.
In an ecosystem like InvenTrust, it is possible to discover, connect and transact with partners without infringing on any legal issue. InvenTrust aims to find mutual benefits for its members keeping their IP safe by not putting all eggs in one merger, in fact using smaller and multiple alliances and then growing them. With this, there will be a strong partnership which can create a win-win situation for everyone with long-term benefits. There is also an immediate advantage – the use of existing resources to generate revenue that has been lying underutilized till now. InvenTrust is essentially pushing businesses on a faster track to innovation and growth with reduced risk and cost.