Why is future-proofing your business important?

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New technologies and freeware via AppStores are getting more and more meaningful every day. This drive for technology is fueled by people’s needs and the ingenuity to deliver applications based on that needs.

Typical industries that should evolve fast is typically the accounting fraternity, banking and telco service providers. The clients or users are getting more and more tech savvy and somewhere along the line technologies might (sooner than later) render certain industries completely irrelevant. It just take someone with a specific problem thinking a bit further than the current available technologies to impact international economies.

So, what does future-proofing really mean? Often, a focus on ensuring IT systems are up-to-date is the answer to that question, but in reality, future-proofing means a little more than that. It is also to keep and stay ahead of the curve. Not to stagnate in legacy but embrace the future and remain one step ahead of the forward-thinking individual developers out there. We all know the examples of i.e. Facebook, which started a university dating site and evolved into a social media sensation basically overnight. Nothing out there guarantees that a simple logging system might not evolve into a fully fledged, easy to use, ERP system with the ability to auto reconcile or even auto file to the revenue authorities across the world. The impact on professional accountants might be devastating. Therefor, there has been no better time to future-proof – your industry is irrelevant. Large software does not need to take years or decades to be designed, developed and taken live.

In a Work Institute report, it was stated that future-proofing a business requires a number of approaches: “It’s not the technology per se that’s the problem, but whether it’s fit for purpose. Six in ten respondents actively want more up-to-date technology to help them feel more engaged.”

“The onus on business leaders is to make the right technology choices that make employee and managers’ working lives easier – saving money and time that can be reinvested in better systems and continual innovation.”

“Executives need to keep on the lookout for several early warning signs that indicate their business is in danger of disruption. The following questions should be asked to gauge your level of risk:

  • Is the core product my customer buys changing (e.g. movies in video format to online streaming)?
  • Are the core technologies of production changing (e.g. 3-D printing)?
  • Is the nature of my competition changing (e.g. new entrants stealing market share)?
  • Is my relationship with the customer being disintermediated (e.g. search engines)?
  • Is my industry undergoing regulation, deregulation, or reregulation?
  • If the answer to any of these questions is ‘yes’, your industry could be going from ‘mature’ to ‘demature’ and is at risk of disruption.”

“As the world changes, so too do customer needs,” PwC concluded. “The only way to remain relevant as industries become disrupted is to innovate and become part of the new economy. Firms need to engage all of their stakeholders – customers, partners and employees to stay at the forefront.”

In the event where the company is stuck within a traditional mindset and your market is being disrupted, it is already too late.

But rest assured, there is a way to get even, ahead or become the disruption that is required in your industry.

New systems are the answer, linked to that a completely new way of thinking, that is if you need to minimise this impact of the future possibilities and risks. If you are currently not affected, don’t rest too easy as it will happen faster than you think. These hazards creep silently up until it is too late.

Simplification and blue-sky thinking is the key to success in 2020. Surely you understand that only thought leaders will shape tomorrow. Once ahead, you must be able to stay ahead.

SCAD Software is a South African developed technology that will help you to make your blue-sky disruption a reality today.

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Shaun Orpen

Managing Director - International

Shaun is an accomplished commercial leader with extensive experience in the IT and Telecoms industry. Much of his early career was spent with Microsoft, where he progressed from launching Excel into the UK market to the UK Executive Board, responsible for Marketing. He then went onto Orange where he ended up running the business unit responsible for selling to Small, Medium businesses.

Since then he has worked with a number of smaller technology businesses in both Commercial and Advisory roles. His strong commercial focus has led him to consistently contribute to the growth of every organisation that has engaged him. Shaun is heading up the Commercial side of SCAD Software.

He is spearheading the company’s expansion in the UK, Europe and the USA as well as the launch of SCAD Solutions, a business focused on launching innovative solutions to the international market. Shaun’s strong sense of ethics is perfectly aligned with Andy’s vision for SCAD Software.

Andy Fensham

Founder

After working as a software consultant to the global banking industry for six years, Andy has devoted the last two decades to realising his vision to transform the software development industry.

Since 1998, when he founded SCAD Software, Andy was aware that the business world was accumulating a vast and unsustainable level of technical debt, with legacy source code becoming a risk factor for organisations of all size. As markets change and digital transformation becomes integral to every business, Andy realised that out-of-date software would put the future of many organisations in jeopardy.

To address this risk, Andy developed a radical new approach to custom software development, which time and time again has delivered large-scale software projects 75% faster than other methods.

Andy is now overseeing the expansion of SCAD Software into new markets in Asia, Middle East, UK, Europe and North America as well as extending the portfolio to include a number of packaged solutions.