Businesses innovate. That’s what they do. That’s what the successful ones are – serial innovators. The product that brought them relevance doesn’t stay relevant. To attain longevity, businesses must create new products, iterate on existing workflows, develop new ways of thinking, and continually produce new ideas. Innovation, and the disruption it creates, drives businesses forward.
Digital innovations, in particular, have the power to throw entire industries off axis. We’ve seen this in the taxi industry with Uber disrupting a centuries old industry and redefining personal transportation. We’ve seen it in television with Netflix. Now, with video having matured to the point of ubiquity, its impact is being felt in the workplace and in the way workers and organizations communicate.
This was the essence of Jim Lundy’s keynote at Ramp Innovations in Boston last week: If you want to gain a step on your competition, then start using video in the workplace and start now because the competition is.
Successful businesses are the ones that group, align and free people to take good ideas and bring them to life. They democratize ideas. The good ones live. The bad ones die.
Ideas are shared and live through effective and seamless communications. Ideas are formulated, spread and ultimately take shape as the result of communications – humans collaborating with one another. It’s not surprising then that video – the most powerful medium for sharing ideas – is taking hold and drastically altering how work gets done in the enterprise. It’s also not surprising companies are rapidly adopting video to give their employees a powerful medium to communicate and share ideas, because it provides their companies a real competitive advantage.
Video is the latest game-changer in workplace technology. Its development was guided by real enterprise use cases, it’s easy to implement and it has a mature set of features.
Video is becoming ubiquitous because it’s a better medium for communication; it’s easy to implement, easy to integrate and it’s now affordable. Lundy described two dynamics driving the adoption of the technology. IT executives ask if the technology works and can be implemented practically and affordably. Business executives ask if it works, and is easily accessed and used by employees. Increasingly, because of the power of video as a communication tool, business executives are driving the conversation and adoption, not IT.
Once a technology works right, it catches fire.
In a business sense, video works right now. Live streamed events are reliable and easy to host. Video search has made video documents equivalent to text documents in terms of accessibility. Video can be just another asset in existing CMS’; it can be catalogued and searched like everything else. Video is fast becoming a new and dynamic component of the enterprise ‘knowledge base’. Video is everywhere in the enterprise today and everyone from the CEO and CIO to managers and employees are comfortable with it.
“The News” on Enterprise Video is how quickly it’s being adopted. Video is pervasive in our lives; it’s becoming pervasive in our workplaces.
The pace of adoption for new digital technologies is accelerating. The economy’s playing field is littered with the burnt-out wrecks of enterprises slow to adopt new technologies and innovate. Business executives have learned from the rise of Uber, Netflix and myriad of other digital innovators of the transformative power of digital technology on legacy industries. Do you think Yellow Cabs, or medallion owners in cities around the world, saw Uber coming? Did television executives see streaming video and Netflix looming on the horizon in 2007?
Once burned, twice shy. Business executives aren’t waiting for lengthy IT studies and approval to adopt new technologies. And while good CIO’s are getting out in front of trends, businesses aren’t waiting. If IT concludes the technology works and the CEO believes it works right, it’s time to buy. It’s an arms race and technology has become the strategic weapon.
Video is the paradigm-shifting technology affecting how enterprises work. Companies are leveraging video to enhance employee and customer engagement to/and create better digital experiences.
Here are the top 5 ways businesses can innovate and gain a competitive advantage with video, as outlined by Aragon’s Jim Lundy:
- Focus on customer engagement
Leverage video to enhance sales, service and support.
- Video-enable applications
Add video inside of applications.
- Digitize conference rooms
It’s a lot cheaper to do than it used to be. Aragon predicts that 50% of conference rooms will be video-enabled by 2020.
- Deploy video content management
With video content challenging traditional text documents in terms of ubiquity and adoption, deploying a video content management system is like building a knowledge base.
- Become experts at developing engaging video content
Enabling video is a cultural thing. Employees should be comfortable with producing high-quality video content.
Executives need to be on the right side of the curve when paradigm-shifting technology hits the market. They are quickly assessing and adopting the latest digital technologies. In the Digital Era, if a technology works and can be integrated with existing technologies and platforms, then businesses are buying it. Digital technologies are having a profound impact in the marketplace. Companies increasingly are moving quickly to adopt transformative new technologies. And video is the digital technology that will transform the way we do business over the coming decade.