The management of SystemSpecs, a Nigerian company with interests in financial technology, designs and development of human resource management, (HRM) solutions has called for a newer and disruptive innovative approach to national issues for a rapid development of the country.
Disruptive innovation is one that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances.
Speaking as a panelist at the 51st Annual Chartered Institute of Personnel Management (CIPM) conference, the Executive Director of the firm, Deremi Atanda, who gave the advice maintained that the most viable way to harness the innate potential of the country was through the deployment of disruptive innovations across all sectors.
The innovation, he stressed, must be embarked upon routinely but with a disruptive approach.
He said: “Significant change only happens when there is a disruptive innovation, and that is why this conversation extends beyond innovative and into the realm of disruption,’’ he remarked.
Atanda added that though technology was vital to disruptive innovation, he said the success of the new order lies with individuals, corporations and the government.
He further stated that having a clear vision would shape the nature of innovation that the country wants to achieve.
“Technology is an enabler in the sense that it amplifies mental power in ways that you probably may not be able to achieve. Without a clear vision of what change should look like, however, we will just be specialists who describe problems without proffering cogent solutions. Until there is a picture of what change is supposed to be, we may not be able to leverage technology appropriately on a national level.
“The populace must truly find a real yearning for change to occur, otherwise, the state of things will linger or exacerbate”.
He maintained that not everyone will be at the forefront of driving disruptive innovation as some are better positioned to play certain roles, while others will serve as promoters, which is another key element of the process.
“It is imperative that we are all clear on the fact that the status quo cannot subsist for there to be a change. As I had previously mentioned, we all need to do more as individuals, corporates and as a nation. Despite that, not everyone will be a disruptive innovator but that does not preclude us from being part of the value chain,’’ he added.
Organisations, he said, must recalibrate their processes and rejig strategies to create disruptive innovations.
According to him, companies are well-positioned to stimulate the evolution of Nigeria by devising creative ways to solving national problems.
Citing the example of his organisation and how it fast-tracked the implementation of the lauded Treasury Single Account (TSA) policy he said: “We created something called TSA technology, which helps the nation better manage its finances. With technology, the government can see the most basic things that pertain to public financial management. Furthermore, when we devised Remita, there was no single platform that made you see all your bank accounts in one view, whether as an individual or as an organisation. We achieved that with little fanfare but when it was replicated in the United Kingdom, it was hugely celebrated.’’