As we enter 2021, it is clear that we are all still reeling from the effects of the coronavirus pandemic. While vaccines may be around the corner, economic recovery is far from certain. Many businesses have had to grapple with dramatic changes to business processes, implement remote working, and experience unprecedented disruptions. This has underlined the need for adaptability and being able to respond to change with speed. Luckily for most of us, the tech sector have been able to continue to work uninterrupted.
This disruption has also led to many creative and innovative solutions being built, which brings into focus the importance of innovation and IP. Whether you are a product or services company, it is imperative that you can quickly provide solutions to customer problems. As you compete with businesses from all over the globe, it now matters less where you are located and more about the unique and differentiated value you can offer.
This month’s issue examines the importance of building innovation and creating IP (intellectual property). The number of patents filed can be a proxy for innovation. One of the most noteworthy trends is the filing of patents by IT majors in India. Some of these IT companies, including our clients, are now also creating IP enabled solutions as a mechanism to provide faster value to customers, acquire new customers, and gain a competitive edge. Whether you are a tech product or a services company, there are several ways to build an advantage with IP.
I have also had the opportunity to help organize Asia’s largest product conference – Nasscom Product Conclave 2021, which was attended by over 11,000 people from 46 countries. It was wonderful to witness the increased interest in product building and innovation and to learn and share experiences. Some of these can be accessed via the links below and more will be shared over the coming weeks.
I wish you all the best for the new year.
P.S. We are working on a research report surrounding the “IP Advantage”, a review of trends on IP creation, productization, and the lasting advantage created by building product and platforms. Please contact us if you would like a copy.
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Technology and business process services are experiencing unprecedented disruption. Service providers are now adding and strengthening capabilities in IP to offer end-to-end solutions to clients. Read more