Technological Disruption – Important and Inevitable
The technology industry has always been defined by rapid innovation and technological disruption. Companies are always looking to disrupt the status quo with, “better service, more innovative products, lower prices, and the ability to respond flexibly to changing customer habits and preferences.” Technology’s commitment to innovation and fast-paced disruption shows no signs of abating. 78% of American CEOs report concern over how rapidly technology changes in their industry. Their concern is well founded, 45% of tech companies have expanded into a new industry in just the last three years.
Of late, there has been debate over whether a few powerful technology companies will hoard their innovations and power, or if new opportunities will lead to a more fragmented economy than ever before. Rather than an either/or situation, there is good reason to believe both of these scenarios will hold true. As the larger open platform providers leverage their capabilities to change the way business is conducted, new start ups will emerge to best take advantage of niches we can’t even imagine today. The Internet of Things (IoT) will dramatically change business operations, and it is inevitable that new technologies will emerge to compliment and enhance the IoT. Technology constantly builds upon itself. In this industry, the only constant is change.
The Importance of Strategic Partners
To best navigate the mercurial future, it’s important for technology companies to build and maintain a robust, healthy, and expansive network of strategic partners. As technology and information become less expensive and easier to access, it will become easier and easier for technology companies to innovate while remaining independent. If companies want to maintain both independence and operational excellence, they’ll need to outsource manufacturing and distribution to trusted and reliable partners. Tech companies would be well served finding partners in their verticals to be more effective within their industry. Alternatively, distribution and vendor partnerships can bring products to consumers far more effectively than a single company could alone. No man is an island, and no company can fully exploit innovation without partners.
Another reason for the necessity of strategic partnerships is navigating an uncertain regulatory environment. Technology changes faster than politicians can keep up, so regulations will shift at an unreliable rate as governments seek to capture the benefits of innovation. Knowledgeable partners with a firm grasp on the local climate will be a great asset in keeping up with regulatory demands. For heavily regulated industries like healthcare and financial services, experienced partners are essential to avoid running afoul of regulators.
Powerlinx – The Right Choice
Just as technology has changed every way of doing business, Powerlinx has changed the way companies find strategic partners. Powerlinx has created a robust business-to-business matching platform unlike any other. Thanks to Powerlinx’s efforts, it has never been easier to find, evaluate, and connect with potential strategic partners. With Powerlinx’s expertise in the big data and technology fields, we’ve helped companies grow like never before.
When BH Sensors needed to source new engineering partnerships, they turned to Powerlinx. BH Sensors liked the agility and flexibility their small size afforded, but knew they needed to scale up production to meet their business needs. They built their Powerlinx account around finding small engineering service companies. Once on the platform, it was simple finding engineering companies looking for new clients. Thanks to Powerlinx, BH Sensors was able to maintain its nimbleness while dramatically increasing production. Describing his time on the platform, BH Sensors’ CTO Aron Kain stated, “Powerlinx is a platform on which very specific companies with very specific needs are put together to form an exchange.” For technology companies looking to innovate and scale up their business, there is no resource more valuable than Powerlinx.