Tag: technology

Three Most Promising Areas of Enterprise Technology

Posted on by Eran Gilad

With the ever-changing pace of enterprise technology, it can be hard to pinpoint which focuses will be around years or even weeks to come. Some technologies seem to be ‘in’ one day and ‘out’ the next, but through our research as well as meeting and engaging with companies across various industries, we have come to realize a few areas that have surpassed the ‘fad’ stage and will likely remain legitimate forces in enterprise technology for quite some time. While some analysts and industry influencers may not be convinced just yet, let us dive into why we believe artificial intelligence, the expansion of the Internet of Things (IoT), and process automation will prove to be three of the most promising areas of enterprise technology.

Over the last three years, artificial intelligence has impacted almost every industry imaginable – from customer service to digital media, to human resources and healthcare. For both B2B and B2C industries, the use of AI has been a useful tool to automate and optimize workflows. Coca-Cola, for example, has found considerable success leveraging Watson Services for Core ML to test whether the technology actually helps its field technicians better inspect vending machines. However, while more companies incorporate innovative AI strategies, they should be advised that practical applications are not to be treated as a plug and play strategy. Decision-makers will need to account for the extended time that may be needed to allow an AI system to learn and observe the data being collected and use those findings to create a sound plan of action. As interest in the space continues to rise, startups should view this as an opportunity to help meet growing demand and learn from the mistakes and shortcomings of their industry counterparts.

In early 2017, Gartner forecasted that there will be 20.4 billion IoT devices deployed by 2020, roughly three devices for every person on earth. The analyst firm also predicted that vertical-specific business devices are on pace to rise from 1.64 billion in 2017 to 3.17 billion in 2020. While these are significant numbers pointing to the growth potential and sustainability of the industry, for enterprise companies, managing a vast number of devices could be expected to pose a serious challenge. The key will be integrating these devices with standard business applications and processes. Another opportunity that will help support the expansion of IoT technology for enterprise companies will be the use of IoT discovery platforms to convert connected device data into intuitive enterprise software. Referring to the digital transformation being seen within enterprise companies, a recent Forbes article stated, “As companies adopt more advanced use cases for IoT, more of them will be able to use data from connected devices not only for analysis but to trigger business processes and transactions in enterprise software, automating entire value streams through the enterprise.”

Lastly, with the goal of reducing time and cost investments, many companies will continue to prioritize the automation and streamlining of core processes. Complex IT and HR departments will experience increased disruption through the automation of business tasks. To make a seamless transition, leaders will need to experiment with AI capabilities and various applications in order to effectively automate internal processes. Additionally, we will see enhanced efficiency as employees collaborate with machines and advanced technology products to complete assigned tasks.

We can never be completely sure what technology practices and software will experience longevity, however based on recent trends and skyrocketing adoption rates, we can make a very educated guess on the tools that will continue to have the biggest impact on the enterprise landscape. AI cannot be discounted as we’ve witnessed integrations across countless industries as well as data scientists that continue to push the limits of this next-generation tech. Similarly, with IoT and process automation, based on the sheer need to incorporate these concepts into the workplace, we can confidently predict that there will be quite some time before either even gets close to hitting its respective ‘glass ceiling.’

When “Disruptor” Becomes a Buzzword

Posted on by Eran Gilad

What does it mean to be a disruptor today? The term, by definition, is described as “a company that changes the traditional way an industry operates, especially in a new and effective way.” Today’s tech industry, in particular, thriving on an insatiable need for innovation and exploration of uncharted territories, has simply caused the word to lose some of its cachet. Without set guidelines to define the requirements of what it really takes to hold the title, you might be hard-pressed to find a tech company or startup that doesn’t consider itself a ‘disruptor’ in today’s landscape.

True disruptors are thinking miles and years ahead – passionate about finding ways to solve tomorrow’s problems before many of us have had to the chance to tackle the most pressing issues of today. As a member of what has become an aggressively competitive venture capitalist community, it is imperative to have a keen eye for true innovation. What shines on the surface, many VCs have come to find, can be quite the opposite in some cases.

There has to be a method to the madness, whether it be a rigid set of processes to cut through the noise or a personal approach that has proven fruitful in the past. With over 80+ years of combined experience across the leadership team here at Scopus Ventures, we have come to believe in a small set of characteristics to help guide our strategy and identify proven disruptors that align with our underlying business goals.

Category-defining: With new industries and subindustries popping up almost daily, we have come to focus on category-defining companies – leaders and front-runners bringing unprecedented innovation to a particular area of business. That is not to say we are looking for companies without competitors, but those whose technology is laying the foundation and groundwork in a competitive landscape that demonstrates a true prowess to remain on the cutting edge. Think what Elon Musk and Tesla are to the automobile industry. Having the ability to completely revolutionize a specific market and set the tone for others to come is what we look for in companies that are re-shaping technology as we know today.

Metrics: Numbers don’t lie. We can argue that the world runs on the numbers and solid performance backed by accurate data and statistics is hard to ignore. A company that tracks and monitors its growth and projections based on hard numbers can be quite appealing to investors with a critical eye. How are you measuring success? How are you performing against your goals? Have your met or exceeded your projections year over year? A metrics-based strategy and reporting structure promotes transparency and shows investors that you are serious about optimizing your business to secure the best possible ROI. Having these systems in place from the beginning of a working relationship can help to eliminate or avoid many compromising scenarios in the future.

Growth potential: Ideally, investors, especially those specializing in the seed stage, want to partner with companies that display explicit growth potential. One of the main advantages of partnering with a VC is the additional support in efforts to scale and expand the footprint of the company. True disruptors have a clear plan in place to gain market share, and can show significant progress over a set period of time. A granular analysis of the market size, competitive landscape and long/short-term developments provides a more realistic projection of growth potential to guide your company’s business strategy and help investors provide more valuable guidance along the way.