Andorra is home to many projects and initiatives in both the public and private sectors aimed at increasing the competitiveness of the country’s business sector. And Agile innovation is in the center of it.
This September there was a 1st edition of Inntec – special event dedicated to innovation and new technologies, showcasing trends and advances, projects launched by companies, entrepreneurs and institutions. Of course we couldn’t miss this opportunity and we were speakers there, talking about Agile innovation, but let’s speak a bit later about it.
First of all, what is Inntec? Inntec is Andorra conference on innovation and new technologies. It was held from 22 to 24 September. The meetings were held over three stages: Sala Prat del Roure, Caldea Espai Innovació and the Illa Carlemany, where there was a theater used for demonstrations, technical papers, workshops and exhibition area for companies wishing to display their innovative projects. The event was organised by Actua Cluster of innovation and new technologies.
Main topics of this event were: the use of technology in education, storage, computer environment, security, data processing, architectural sustainability, technological sustainability, cloud engineering, drones, robotics, e-health, smart cities, gamification, online banking, disruptive technology in SPA industry, big data and agile innovation.
Now, when we know what was the event about, let’s talk about the speech of our CTO – Xavi Hidalgo. He has a wide experience in tech world, in agile world, he worked on innovative projects and he shared with all the attendees why Agile Innovation is the key to success.
Probably you noticed that agile innovation, agile product development is a buzzword, a hot trend nowadays.
Actually if we look back, Agile innovation methods have revolutionized information technology. Over the past 30 years they have increased success rates in software development, improved quality and time to market, and boosted the motivation and efficiency of IT teams.
Now agile methodologies, which involve values, principles, practices, and many more are a better alternative to traditional project management and agile is spreading across a broad range of industries and functions and even into the executive level. Now, it’s quite difficult to find a company, which is not agile. All startups and giants are agile or are in a process of agile transformation. Every month we see more and more companies adopting Agile methodologies in other parts of the organization. Functions as diverse as R&D, marketing, operations, corporate strategy, etc become Agile. Companies in industries as varied as broadcasting, farm equipment manufacturing, winemaking, banks, supermarkets, insurance companies, retail and fashion companies and many more are noticing advantage of being Agile. From our own experience, the companies equally have high success rate, adopting Agile Methodology.
What is so good about Agile is that it offers the prospect of a holistic innovation methodology that many companies can learn and put to work and it enables these companies to develop and implement new ideas, which are 100% relevant to the market trends and user needs.
There was an age of manufacturing, age of distribution, age of information, age of experience and now this is age of Agile Innovation.
Agile innovation is the art of making hard things easy and creating new viable business
offerings faster and better. The prime objective of every innovation effort is to create disruptive delight. Delight consumers, stakeholders and employees. And Agile is all about it!
BENEFITS OF AGILE INNOVATION
1. TIME TO MARKET
Consumers today are always on and highly demanding. Consumers don’t have patience and other stakeholders either. Competitors are not having a break and you need to get your ROI as fast as possible. Be the first, gain first mover advantage! Agile methodology allows you to have a solid MVP to enter the market much faster.
It increases team productivity and employee satisfaction. It minimizes the time spent on useless meetings, repetitive planning, excessive documentation, quality defects, and low-value product features.
3. RELEVANCE & QUALITY
Agile methodologies help to anticipate future trends proactively. By continually adapting to customers’ changing priorities, agile improves customer engagement and satisfaction, brings the most valuable products and features to market faster and more predictably, and reduces risk.
4. COST & RISK REDUCTION
Agile is about iteration, about incremental releases. As you add functionalities step by step, testing the market and looking at how customers engage with your product or service, at the end you ensure that the product is 100% the one that the market needs. Apart from that, as you work with sprints, you can manage the investment easier, reducing the risk of failure, risk of losing the money. Just a very basic example, if you have a budget let’s say 100k for your project, instead of paying the whole amount for the whole project, as you work with sprints, normally 2 weeks sprints, you pay for sprints, so let’s say if you see that you need the budget for something else and you need to stop the process for a while, no problem at all. Or if you failed with the first functionality, you still can adapt the product to what clients want instead of redoing the whole product. This is agility, this is testing, this is iteration.
5. TRANSPERENCY & COMMUNICATION
Agile project management is first of all transparency. Team members hold brief daily “stand-up” meetings to review progress and plan what they have to do. They resolve disagreements through experimentation and feedback. Normally you use Jira or Trello and it gives 100% visibility to the team members, clients and managers what is going on and what you are working on.
I think everyone knows Spotify, right? The music-streaming company, which is agile since 2006, right from the beginning. Its entire business model, from product development to marketing and general management, delivers better customer experiences through agile innovation. And where they are now? They are really successful and every time when they launch a new feature, it is a success again.
If you know other agile companies, that became the leaders in their industry using Agile Methodology, please write them down on the comments section.
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