Sunday, June 16, 2024

Redefining Commercial Relationships

Last updated on December 30th, 2016 at 02:39 pm

People are at the heart of all relationships, even business relationships. Thanks to modern technology, we can sometimes forget that there’s a live person on the other side of that tweet, email, or Facebook post. That’s just in our personal lives. Imagine for a moment, how that translates to the business world.

Focus in business is on external spend, sometimes at the cost of those people relationships.  Networks can run into the hundreds or even thousands. How do large enterprises manage those relationships? How much value is being missed by using complicated, slow and outdated tools?

Enterprise Software vs SaaS (Software as a Service)

Unlike the good old days, we now have a choice between enterprise software and Cloud based services  (Saas).  Traditionally, enterprise software is defined as software your company buys and installs on your local servers. Compare that to SaaS software that you have hosted “in the cloud”, and access via the internet. SaaS offerings have the capacity to allow multiple organizations to work in the same database, sharing information.

Enterprise Level Innovation

In this enterprise software environment “the potential to uncover and harness the deep expertise, new ideas and vast experience from within their network is made almost impossible,” says Old Street Labs (OSL).

OSL is redefining commercial relationships and changing the way people think about enterprise software. They’re “on a mission to supercharge commercial relationships, boost business outcomes, and inspire innovation,” and call it ‘Enterprise Level Innovation’.

The goal is to develop products that increase business collaboration, innovation, alignment and agility. By combining immense processing power with elegant functional design, they are changing the face of enterprise software.

Return on Relationships

Return on Relationships”, according to OSL, is a way of thinking, a new way of measuring and managing relationship success.

Why did business tools get stuck in the past, when we live in a Cloud age and technology advances at warp speed? How can there be so many inefficiencies in managing business relationships? Why can’t companies and their vendors work collectively in one environment?

There would be “a dramatic change in the products we use at work, and as a result, an upending of the canon of management practices that define how work is done. Businesses must embrace the consumer world and see it, not as different and less enterprise worthy but as a new path to organize and execute work.

New tools are appearing that radically alter the traditional definitions of productivity and work. Businesses failing to embrace these changes will find their employees simply working around IT at levels we have not seen even during the earliest days of the PC.” – Continuous Productivity – Working in a New Era


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