In today’s fast paced world companies are not only competing against other companies in their local markets, but they are also competing against companies across the globe. Companies must continually improve their products, processes, and quality of service to remain relevant in the global marketplace.
What is continuous innovation?
Continuous innovation is the process of always seeking to improve upon existing products and services or internal processes from a business standpoint. Companies that practice continuous innovation will always be updating existing products or creating new products and services to better meet their customers needs.
Commitment to improvement
The process of continuous innovation yields improvements to products such as making them faster, smaller, and more capable. A good example here relates to the mobile phone. Thinking back to the 1980’s mobile phones were huge bricks which could only be used for voice. Fast forward to the present-day mobile phones are mobile supercomputers with tremendous capabilities.
Investment in process and capability
Continuous innovation requires a serious investment from companies with regards to its process and people. Innovation requires the right mix of domain knowledge, technical expertise, product design, and process framework to be successful.
Customer focus
Continuous innovation requires a strong focus on the needs of your customers. Staying abreast of their needs and pain points to enable the business to focus on the improvements that will make the biggest difference to their customers. Innovation that doesn’t focus on the needs of the customer is a wasted effort.
Why is it important?
Continuous innovation is important today because the global marketplace is hyper competitive and companies that do not continually strive for improvements to their products will fade away into obscurity.
A good example illustrating this is the Nokia, Blackberry, and Ericson. These companies ruled the original mobile phone market, however today all are no longer relevant players because of their failure to continue innovating. Apart for the existential threat, innovation can also improve a company’s bottom line in a few different ways. Firstly, innovation can lead to increased sales as people love purchasing great products. Secondly innovation can also be applied to lowering costs for product manufacture and supply chain.
Innovation enablers
- People and expertise
- TIG has over 20 years’ experience in managing freight for companies in Australia. Working with all major transport carriers and some of the country’s largest B2B and B2C clients TIG has the expertise and experience to ensure your freight needs are met.
- Cloud technology
- TIG leverages cloud technology from AWS to deliver our industry leading Openfreight and Open360 platforms. Leveraging best of class cloud infrastructure allows TIG to spend more time focusing on delivering features our customers want to ensure the highest level of customer service.
- Customer centricity
- TIG has spent the past 20 years innovating in the freight management space. Our innovation is driven by our close relationship with our customers and the feedback we receive from them. This feedback is fed directly into our development team to improve our product for all our customers.
