Businesses of every shape and size are facing disruption in today’s dynamic digital economy. How you deal with these challenges will determine whether you are a disruptor or one of those being disrupted.
Fast-growing small and midsize companies in particular face some unique challenges. Your business must be responsive to change, but you need to manage growth while investing carefully and controlling risk. You probably have an established ERP system at the heart of your IT landscape, integrated with a variety of other applications that combine to drive your day-to-day operations. You need the flexibility to respond quickly to market changes, but you also want to maintain a small IT footprint without making your infrastructure more complex or adding headcount.
Striking the right balance between stability and agility is essential. So how can you build on your existing foundations to create an environment for digital transformation, innovation, and growth in our data-driven world?
Here are four considerations that can help you gear up your business for growth.
- You need a future-proof data infrastructure that delivers immediate value from your enterprise data and can scale upwards and outwards as your business grows and evolves. In-memory computing ticks all these boxes, but be careful in your choice of vendor – some offerings merely add in-memory cache to a disk-based database instead of being designed from the ground up as a 100% in-memory database. A true in-memory platform can handle both transactions and analytics in-memory on a single data copy, avoiding latencies from moving data between the database and application servers. The result? Much faster processing speeds at an attractive price/performance point, and greatly reduced storage costs.
- Your in-memory platform should combine a state-of-the-art database with advanced analytical processing, data integration, and data quality so you get a single, secure environment for all your mission-critical data assets. That enables you to manage large volumes of structured and unstructured data efficiently, and get it into the hands of the right people across the business – when and how they need it. Don’t forget that business users are also digital consumers who expect an easy and engaging user experience. They want easily digestible information their fingertips to make fast and accurate decisions – even during ongoing transactions.
- You need to develop the agility to innovate quicker and leverage new technologies to push your business forward while maintaining a stable core. Innovation is the fuel that powers digital transformation – and it will power your organization’s success moving forward. A flexible innovation platform will enable business and IT transformation through agile pilots. It should connect with existing applications using open standards and support a variety of programming languages. This way, you and your partners can develop new apps and embed new technologies like machine learning and automation into your existing enterprise applications in a controlled and cost-effective way.
- You need to achieve rapid time to value at the lowest cost. Look for an in-memory platform that is available in a secure private cloud and also accessible through selected third-party cloud providers. The comprehensive cloud infrastructure and managed services they provide mean you can move to the cloud at your own pace with flexible, modular deployment that can scale as your needs change. Cloud deployment can also help you reduce IT complexity, costs, and operational risk while enjoying the advantages of subscription-based pricing.
With an ambitious growing business, you want to match the speed and agility of digital startups, and the scale and reach of the largest enterprises. Building on your stable ERP core with an in-memory platform will help you create the flexible data infrastructure you need to succeed in the digital age.
Learn more here.