Too Big to Fail (TBTF) is a theory that over time has become synonymous in banking and finance industries. It is built on the tenet, that certain corporations, particularly financial institutions, become so large and so interconnected that their failure would be disastrous to the greater economic system and that they, therefore, must be supported by governments when they face potential failure.
More recently however, we have started to see the emergence of the too large to care theory, in the telecommunications industry. And we find ourselves in the midst of an ongoing battle with many Davids and Goliaths.
For the most part, the Davids of the ICT industry cannot compete with the bottomless budgets that the Goliaths have at their disposal for everything from marketing spend, uncapped operational resources, legal counsel, or inorganic growth strategies.
Even with so much stacked against the Davids, the idea that traditional large companies can’t innovate, and that smaller agile companies will render many of them extinct, is rife. It is clear that large, established tech corporations are being increasingly displaced by small tech companies that are bold enough to use new technologies, develop uncharacteristic solutions, propose against the grain ideology, and deliver left-field blueprints.
Innovate don’t replicate
Contrary to popular belief, mainstream media, and the plethora of advertising spend by large companies, they are delivering very little innovation. They do not innovate, but replicate, driven by bottom lines, GPs, revenue, market share and corporate image.
They are being outsmarted, outwitted and disrupted by small tech companies that are thriving, continuously investing in tech and innovation with intangible assets, thinking on their feet, making decisions within hours, while at the same time, keeping their only asset top of mind, the customer.
Small businesses, particularly in the tech space, fundamentally have two key differentiators:
The ability to care
The agility to action
More importantly, they are focusing their efforts and resources on solving client challenges, and creating bespoke solutions to overcome client pain points.
BYOC, because it is born in the cloud, lends itself to the scalability required for modern organisations. Whether it is a handful of users, or thousands, BYOC and UCaaS deliver the flexibility and functionality needed to scale up or down as necessary.
With more people adopting a hybrid work approach and looking for technology to make them as productive as possible, the pandemic has been the catalyst for UCaaS and BYOC to provide businesses with simplified management for their communication environments.
If the last 24 months have taught us anything, it is that flexibility and agility are critical for businesses across all industries and solving challenges at pace will always differentiate the innovators from the imitators.
ICT landscapes are transforming, and the captains of industries should be asking themselves if their incumbent providers are able to anticipate, navigate and provide future forward solutions.
Some of the top priorities for CIOs, CTOs, CFOs and Heads of ICT in 2021 are digital transformation, cybersecurity and cloud migration. Customer-centricity and experience is also a top priority, indicating the continued importance of a customer-centric attitude aimed at increasing customer retention, encouraging repeat business and driving up revenue. The pandemic and recession have also driven a much greater emphasis on cost savings.
Which begs a few of the following questions weighing heavily on our 2022 ICT Strategies;
- Are we duplicating costs by supporting disparate technologies and collaboration tools?
- Public, Private, or Hybrid, which Cloud strategy is right for my organisation?
- Is your mobile data scalable, depending on the size of your workforce?
- What are the success criteria for a business’s digital transformation?
- Is our distributed workforce functioning efficiently and securely?
- Is our cloud strategy actually helping to reduce IT costs?
- Are real-time failover, application control, and network insight important?
- As technology evolves exponentially each year, does our business have the right innovative IT strategy?
Year-on-year growth in cybersecurity, cloud migration and cost savings means choosing a provider that can not only navigate the challenges, but also advise on the priorities will be essential.
An overall increase in the following areas year-on-year:
- Digital transformation
- 2021 – 56%
- 2020 – 54%
- Cyber Security
- 2021 – 56%
- 2020 – 49%
- Cloud Migration
- 2021 – 48%
- 2020 – 40%
- Cost Savings
- 2021 – 27%
- 2020 – 9%
- Digital transformation
Most importantly, they need to ask if their providers understand rapidly changing security demands, digitalisation needs, hybrid and distributed workforce requirements and challenges and what the future of cloud adoption looks like.
Are they listening, planning, implementing, investigating, and investing, or just nodding their heads.
Because small tech means business – and we aren’t just nodding our heads.
If you are looking for a technology partner that understands the changing landscape, and can match your business needs, contact us today.
Saicom is a leading service provider in the Telecommunications market, delivering a host of communication solutions that are designed to help organisations improve their collaboration and deliver an unsurpassed customer experience. Beyond it’s unified communications, voice and connectivity solutions, Saicom provides SD-WAN, APN, UCaaS and cloud hosting solutions tailored to meet each customers’ needs.
David Cooke, Sales and Marketing Director at Saicom