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Guests from government, academia and business helped celebrate the merger of SIRCA and CMCRC with the 10th anniversary of  Vivid as a fitting back drop.

It is great sharing with you the excitement generated at our joint Sydney Vivid event where we announced the merger of RoZetta/SIRCA and CMCRC.

This merger brings together two organisations with very similar charters and the same commitment to using data to bring transparency and equity to key markets.

These companies have developed and deployed game changing solutions that have brought transparency and efficiency to capital markets transactions around the world.  They are both leading innovators in using big data and advanced analytics in capital markets, health, energy and logistics.

                                                                                    Minister Craig Laundy announcing the merger

In announcing the merger Minister Laundy said “It’s not just vertical integration, it’s horizontal integration at the same time, which will provide some real grunt, especially when it comes to data and data analytics, training PhD students, and collaboration with industry”

He then added “What this merger will deliver to this country moving forward, not just for the PhD students moving up and out into the world, are the benefits that are limited only by your imagination. You’re the sort of people we in government wish we could find more of to back.”

This merger will result in the establishment of an unrivalled centre of excellence for analytical innovation in Australia.  Federal Minister Craig Laundy was clear in his support of the merger as it provides a showcase for Australia to play a key role in commercialising the innovation developed by our universities and the wider research community in collaboration with industry and government.

Both SIRCA and CMCRC, have a commitment to support academic researchers through the provision of data and technology platforms, to solve complex problems in complex markets.  The merged entity will continue to support and grow the unique industrial PhD program which delivers meaningful outcomes for its commercial partners and is positioned well to develop data scientists to feed growing global demand.

David Sharp, CEO, RoZetta and SIRCA

https://www.rozettatechnology.com/

https://www.sirca.org.au/

https://www.cmcrc.com/

 

 

 

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As the use of technology continues to expand throughout many businesses and emerging technology solutions become mainstream, many businesses don’t have the skills and capabilities they need internally to achieve successful digital transformation projects. Therefore, they need to look outside the organisation to leverage the power of collaboration.

Historically, the term ‘collaboration’ referred to the management of teams within an organisation, particularly cross-functional teams. However, more recently, collaboration refers to assembling a team with the right skills, capabilities, and attitude, supported by a group productivity platform from the talent pool across a range of strategic partners. The most significant difference is that business leaders no longer expect that all the skills and capabilities required will be available internally, so those strategic partners are often found outside the organisation itself. Collaboration, therefore, has come to describe the effective execution of a partnership that spans both organisational and geographic boundaries. 

This matching of a capability base in diverse locations with an effective platform, turns collaboration into an ecosystem. A collaboration ecosystem empowers transformation project leaders to adjust the capability mix based on specific, short-term requirements.

This is a real and meaningful change in managing complex technical projects, especially digital transformation projects and cloud migration projects.

So-called ‘industrial mashups’ can create potentially unique business value by bringing together very different companies well known for their individual areas of expertise.[1] Businesses are increasingly understanding the importance of unlocking these opportunities and are aware of the need to partner. A separate Harvard Business Review research report in 2015, ‘Driving Digital Transformation: New Skills for Leaders, New Role for the CIO’, revealed that 75 per cent of businesses were not confident that their organisation possessed the digital acumen required to excel in this space.

This demonstrates that learning how to collaborate effectively is just as important as being willing to collaborate. The success of a digital transformation project will be affected by issues including lack of talent, change fatigue, going it alone, and going too slowly.[2]

When it comes to getting the right talent for digital transformation, the capability mix for each stage of the project is quite dynamic. For example, some specialist skills are only needed for some development stages, but they are critical to the success of the overall success of the project. It’s important to have all the required skills at the right competency level for every stage of the project. The solution is to build development partnerships with organisations that can deliver on the project requirements, at the time required.

Change fatigue includes the challenge of scarce resources being required to run legacy systems and processes while, at the same time, trying to deliver on generational change in systems and processes. Change fatigue can certainly be managed, and one way is to have a broader talent pool that can focus on keeping the business running.

Fewer businesses are determined to go it alone or go slowly. In a 2016 survey, Australian CEOs were found to be ahead of their global peers when considering strategic partnerships and 44 per cent of executives believe that going it alone will become a thing of the past.[3]

This is compelling evidence that the success of critical digital transformation projects, including cloud migration, may be determined by an organisation’s willingness to embrace this emerging definition of collaboration.

However, in practice, many projects have been crippled or failed to deliver the anticipated return on investment because businesses have diverted key resources to legacy systems at critical points in a digital migration development. Furthermore, projects are often descoped by internal teams. This can make the project look good in the rear-view mirror but leaves many of the expected business benefits unmet and benefits realisation deferred.

The best advice for organisations looking to achieve successful digital transformation projects is to set the roadmap upfront, allocate resources that won’t have to be de-allocated, and set realistic expectations for timeframes, benefits, and return on investment. The key to this is identifying and working with the right strategic partners.

RoZetta has an appreciation for participating in collaborative developments.  It delivered a collaborative development platform to nearly thirty universities throughout Australia. Peter Spicer, the RoZetta Head of Technology, has wide experience, across Australia and South East Asia, in partnering with clients on large technology projects.  RoZetta’s is committed to creating value for its clients, so that they, in turn, can create value their customers. 

Key links referenced in this article:

  • RoZetta Technology

https://www.rozettatechnology.com/

or drop us an email at enquiries@rozettatechnology.com

  • Harvard Business Review – Is Collaboration the New Innovation:

https://hbr.org/2016/11/is-collaboration-the-new-innovation

  • McKinsey Article – A CEO guide for avoiding the ten traps that derail digital transformations:

https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/a-ceo-guide-for-avoiding-the-ten-traps-that-derail-digital-transformations?cid=other-eml-alt-mip-mck-oth-1712

  • PwC – Perfect Match: Why it’s important to find the right digital partner:

https://www.digitalpulse.pwc.com.au/perfect-match-digital-partnerships/

 

[1] Harvard Business Review: Is Collaboration the New Innovation, 2016.

[2] McKinsey & Co.:  A CEO Guide for Avoiding the Ten Traps that Derail Digital Transformations, 2016.

[3] PwC: Perfect match: Why it’s important to find the right digital partner, 2016.


 

 

 

 

 

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