The PULL vs the PUSH approach.
Innovating within your organization is challenging. Here are our thoughts about the PUSH vs PULL approaches.
(WARNING - AN UNPOPULAR OPINION):
How does the PUSH approach work?
One method is to look for fintech solutions first, and then find a suitable business unit to push this solution to.
From our point of view, a good trusting relationship between the innovation department and the different organizational business units is crucial to the success of introducing new technologies to your organization. It's possible that a PUSH approach will hurt the credibility of your innovation department by creating unnecessary "noise" for the business unit.
Consider doing it the opposite way. Instead of proactively searching for a variety of technologies, and then looking for the "right buyer" (business unit) internally- understand their specific business needs, examine what their competitors are doing, and then scout and validate the appropriate technologies based on what they need. This is what we call - The PULL approach.
Internal engagement between the innovation department and a specific business unit can take many forms, and you should choose the one that best fits your organizational structure and culture.
In our experience, the PULL approach will pave the way for your innovation department to become the go-to department and help your organization reach its innovation and business goals.
Is there a better way to do things for your organization? Let's talk and find out together