#2 Composability as a Core Business Strategy
In today’s highly competitive business world, agility and innovation, much like hyperautomation, are key to success. To be agile and innovative, organizations need to be able to quickly adapt to changes in the market and rapidly develop new products and services.
One of the best ways to achieve this is through composability. This means designing systems from small, independent components that can be easily combined and recombined to create new solutions.
What Is Composability?
The term refers to the ability of businesses to break down their processes and capabilities into smaller, more manageable pieces that can be recombined or recomposed to create new products, services, or solutions.
It’s reported that a typical organization uses 976 separate applications. While this level of automation has resulted in greater efficiency and scale, it has also created new challenges. The number of unique application combinations and the need to constantly update and maintain them can be overwhelming for even the most well-resourced IT departments.
As a response to these challenges, businesses can turn to composability as a way to increase agility and accelerate innovation. By breaking down their processes into smaller pieces, they can more easily adapt to change and create new solutions on the fly.
How Composability Benefits Businesses
Composability has a number of advantages as a business strategy. First, it allows businesses to start small and gradually add complexity as needed. This makes it easier to test new ideas and get products to market quickly.
Second, composability makes it easy to change or adapt existing solutions. This can be a huge advantage in fast-moving markets where the needs of customers can change rapidly.
Finally, it promotes collaboration and sharing between different teams within an organization. By working with small, independent components, teams can more easily share knowledge and expertise, which leads to better overall results.
Most businesses today are already using some form of composability, even if they don’t realize it. For example, many companies use microservices — small, independent services that work together to create a larger system — to build their applications. This is a form of composability, and it’s becoming more popular as businesses seek to increase their agility and speed.
Laying the Foundations of Business Composability
To drive innovation and agility in your business, you must lay the right foundation through these areas:
Mindset
A composable mindset is the first step in moving towards a composable business. This mindset starts with viewing your company as a platform and your employees as developers who build on that platform. With this perspective, you can start to see how various pieces of your business can be decoupled and recomposed to create new capabilities and experiences.
This mindset shift is essential for two reasons. First, it enables you to take a more modular approach to product development, which makes it easier to iterate and experiment; and second, it allows you to tap into the power of your ecosystem by leveraging the capabilities of partners and third-party developers.
Business Architecture
Next, having a composable business architecture is critical to assembling the right mix of capabilities quickly to address market opportunities and threats. This is different from simply modularizing a company’s offerings, which can still leave you with a lot of legacy dependencies.
A composable business architecture starts with well-defined microservices that can be put together in different ways to create new customer experiences quickly — think of it as lego for your business.
This doesn’t mean that companies should try to build everything themselves. In fact, the opposite is true. A composable business architecture enables companies to quickly assemble the right mix of capabilities from different providers — whether they are internal IT organizations or external partners and vendors — to create new customer experiences quickly.
Technology
Composable technology, from a business perspective, is about making technology work together in order to create new business value. It is about breaking down the silos that have traditionally separated different parts of the business and integrating them in a way that allows for more creativity, flexibility, and agility.
In the past, businesses have been composed of separate functional areas that each had their own dedicated technology systems. This created information and process silos within the organization that could lead to inefficiencies and duplication of effort.
Composable technology aims to break down these silos by making it easy for different systems to communicate and share data with each other. This allows for a more integrated approach to business, where different parts of the organization can work together more effectively.
Aside from improving agility and innovation, composable technology also brings about greater efficiency and productivity as well as reduced costs at the same time.
Composability To Outpace Your Competition
In its research, Gartner predicted that, by 2023, businesses that adopt a composable strategy will outpace the competition by 80%, particularly in the speed of new feature implementation. This means that if your organization isn’t using composability as a core strategy, you will likely fall behind.
The implication is that composability will be a major factor in business success. With consumers and employees alike expecting ever-faster turnaround times for new features and services, those that cannot move quickly enough will be at a disadvantage.
Takeaway
In order to stay ahead of the curve, businesses need to start thinking about how they can use composability to improve their speed to market. They should have the ability to break down a complex system into smaller, more manageable parts that can be worked on independently and then composed back together again, depending on their current and future needs.
For your digital marketing strategy, it’s best to work with professionals to ensure proper implementation and ROI of your campaigns. Here at PERC, we provide a composable approach to our client’s marketing efforts, which keeps us ahead of the ever-changing digital marketing landscape. Contact us today!
References:
https://ionic.io/resources/articles/what-is-composability
https://agilitycms.com/resources/posts/what-is-business-composability
