Innovation is not primarily about technology but about creating value and reward. This often means establishing clear processes as well as managing resources, time and costs. Whilst automation creates tremendous opportunities for value creation in the professional services industry, it requires quick adaptation to the rapidly changing environment. Companies and stakeholders face the challenge of developing organizational capabilities to adapt and implement innovation.
How can BRYTER help to implement innovation?
At BRYTER, we are experts in implementation innovation because we have supported hundreds of different innovation projects from short, agile sprints or long-term, grand-challenge investments.
We will accompany you along the way to make your idea a resounding success. Our experienced team from different industries draws on different strategies and best practices to safeguard your innovation projects:
- We will help your organisation to spot opportunities for innovation in a structured way. We will help you to explore an initial idea from different angles and to enfold the whole spectrum of possibilities.
- We will support you in prioritizing different ideas and opportunities. Resources are always scarce. We will implement strategies to ensure that you get the most bang for your buck. Our team will help to test hypothesises through a targeted test and to refine your innovation projects on a continuous basis.
- Our team will support you in rapid prototyping to allow for early live testing. As users test the tool, you will what quickly learn works and what doesn’t. Through iterative testing in more and more complex scenarios involving more users, it is possible to tweak and enhance your concept.
- Innovation also requires building support for your innovation project. We will share best practices to help you gain support from all relevant stakeholders, including those whose resource backing you need and those who will directly benefit from your innovation.
- Finally, we will help you learn from innovation efforts. It’s not about “fail fast, learn fast”. It is about continuous feedback loops and mechanisms to ensure adoption throughout a whole organisation.
Project management is key to success
Project management is key to driving and implementing innovation – with its success based on the ability to manage time, cost and scope of a project (the ‘triple constraint theory’). Project management in the regulatory space consists mostly in the structured preparation, execution and evaluation of a high-level plan to achieve specific goals like project deadlines or defined deliverables.
In most industries project management is considered a strategic competency, as it allows managers to connect project results to business goals. Project management defines the desired result, methodically structures the work into manageable pieces, and provides a framework of business and technology processes to achieve that result efficiently and economically.
👉 Example: Repapering exercises (LIBOR, CCPA, GDPR)
Repapering exercises (LIBOR, CCPA; GDPR, etc.) are extremely challenging under project management without the right technology. BRYTER can help project teams to develop and implement an end-to-end contract repapering process. The setup of such a solution needs to be closely accompanied and supported by different stakeholders but enables professional service firms to facilitate major projects with a significant project value.
- Our innovation approach will help you to save real money. Best practices and an experienced team will ensure that you will stay on track and invest money only in meaningful projects.
- Implementing innovation with BRYTER will help to save time. Not every mistake needs to be repeated. We will help you to avoid roadblocks and bottlenecks.
- Our structured approach to implementing innovation helps to accelerate your innovation efforts. So many innovation projects will collapse due to lost momentum. There are a lot of ways to mitigate these risks and to show quick results.