In the past, and still today, successful organisations had heavy Balance Sheets with Fixed Assets and employees with Fixed Contracts on the payroll. That in itself was often a measure of success. The employees worked with a “waterfall” mentality giving long development cycles and long times to market. Then, there was the Internet boom in the late 90’ where enthusiastic people, preached the rising of a “New Economy” where marginal costs would decrease to a level where they became irrelevant to business. The rising stars in technology got easy Venture Capital money and saw their market value skyrocket without having earned a dime. Enlightened scholars maintained that this made perfect sense.
Now, we hear the same type of reasoning and feel the hype of the new “Shared Economy”. This time around, however, the Internet infrastructure is more in sync with the solutions developed, which has given rise to great disruptors such as Uber and Airbnb. The next area of great innovation is supposedly the financial industry, so called FinTech.
Companies such as WealthFront have indeed placed a wedge in the bank fortress with their robots auto-balancing individual investment portfolios. However, the large majority of firms in FinTech claiming to revolutionize the banking industry have nothing more than a nice looking app to show for, an empty shell without the back-end support of a bank. The FinTech’s still need the bank’s infrastructure.
Banks are still in the driver’s seat, and they are starting to invest heavily in new technology such as Block Chain. Bank’s however are, in addition to being burdened by Fixed Assets and an inflexible workforce, locked in old, heavy to maneuver systems and have yet to properly adopt an agile Scrum methodology making them slow to adapt to technological innovation.
Looking forward, organisations could become more in synch with fast moving technological innovations and changes in the core competencies needed to succeed if they didn’t view their assets and competencies as proprietary. Assets could very well be shared in the cloud, and competencies sourced from a pool of global talent whenever they’re needed. Instead of paying for these assets continuously, companies would pay for what they need when they need it. Hopefully, even companies in technology would treat costs more responsibly and go from being paper products on a PowerPoint presentation to earn actual money, the end game of business.
Spinoola could be a vehicle for this type of new thinking. Using an global pool of people, they can help businesses find the best person for the job within the budget. No need to hire someone less qualified locally and pay a pre-packaged deal, at Spinoola one pays for what one needs no more, no less. The proximity is however important in many projects, and for that reason the company has local project leaders and quality assurance. This company is agile and large in terms of their network of talent. If you’re a business owner or decision maker, it’s worth a closer look.