Grabbing an upcoming technology in its infancy is a strategy that can give you impressive returns. Don’t shy away.
It’s Easy On the Purse
In 2007, when ICICI Bank, ICICI Prudential and ICICI securities jointly deployed virtualization, the technology was yet to gain mainstream acceptance. Joydeep Dutta, CTO, ICICI Securities swears by the benefits of making the early move. “We were the first company in our sector to make the move. And today, our datacenter expenses incurred on power, cooling and servers has come down significantly,”
Umesh Mehta, VP-IT, Asia MotorWorks, also feels that adopting technologies early provides organizations with strategic value and reduced costs. And he talks from experience. “We adopted business intelligence early on. We are growing at a healthy growth rate of 10 percent. And BI supports our growth. It has helped us reduce costs by 20 percent and has boosted our productivity by 35 percent. So we have seen a distinct advantage of early adoption,” he says
It Keeps You Ahead of the Pack
For most process driven organizations there is a strong business case to explore emerging technologies. “Early adoption can be your key competitive differentiator. In 2004, we came up with a web portal for intermediaries and our agency force for our customer facing applications. This gave us an edge over other players in the industry,” BG Pal, CIO, Tata AIG insurance.
It Eases Your Learning Curve
Sabyasachi C. Thakur, CIO, AIOCD, feels that early adoption gives him the ease of deploying the technology in small chunks. “When the technology matures you are at a better stage of your learning curve to adopt it for your business critical applications. It’s better to start early so that you are better geared for your future. Adopt early with the non-core applications so your learning curve also rises with the maturity of the technology,” he says.