‘IT must be an enabler and facilitate people so they can add value’
There is no such thing as a perfect IT system and companies and governments spend billions only to come to the same conclusion. Dennis Haggerty takes the view that IT systems are essentially a commodity with a limited lifespan.
With the pace of change it is easy to spend many thousands on ‘ the latest technology’ only to discover that the elements which made it initially attractive actually inhibit the business from embracing new market developments. Legacy systems and the thousands of expensive man hours customising and maintaining them are one of the greatest drags upon insurers large and small. Opportunity is wasted and costs escalate.
Dennis Haggerty takes an alternative low cost approach. Making the primary requirement for any system simply to remove routine/manual tasks to the point where the staff and managers are adding value to the business. The repetitive processes and reporting are handled by the IT platform.
The key element is a robust central customer database, other systems, typically web based, can ‘hang off’ this are a commodity product, purchased/developed at minimum cost or are outsourced to meet a particular product or market need.Having met the task required for internal efficiency, everything customer facing must focus upon the customer journey with the primary aim of being easy to do business with. Both Business to Customer and Business to Business systems are most easily managed through web applications. The later can be created cheaply and quickly.
A good example is the task of creating a secure environment for customers to pay for goods and services. This requires constant maintenance and updates to keep it secure. It can also be the target of cyber attacks and, if so, will absorb IT resource like no other part of your business. However for a small business or a company promoting a niche branded scheme, this service can be outsourced to PayPal for 2% of revenue. Although their charge seems significant, it takes minutes to achieve with no set up or maintenance costs. It also offers customers the assurance of the security offered by a world class organisation, something an SME could never achieve.
There are many ways orthodox thinking about IT can be challenged. New business models can be deployed on tiny budgets and funded through revenue rather than high up front development costs. This can de-risk a new scheme or product launch. Speak to Dennis Haggerty about the opportunities for your business – please click the Contact button above.
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