Innovations should Focus on Solving Real Concerns

By Biju Nair, EVP, Product management & CSO, Synchronoss Technologies

Synchronoss, (NASDAQ: SNCR) based in New Jersey, is a provider of automation software and cloud technology solutions. The firm currently has a market cap of $1.2 billion.

The industry is evolving further, driven by technological advancements, mainly in Mobile Internet, Internet of Everything (IoT) and Cloud.
The Mobile Internet comes with the potential to connect millions of people, to the internet, which brings in economical and political changes for individuals as well as companies. Coming to the IoT, most of the things are getting connected to the internet, be it health, wellness, cars or sensors, thereby giving access to a smarter and safer world. The increased interconnectivity resulting from the adaptation of IoT also brings in improved economy. Cloud is another imperative trend with more and more subscribers relying on cloud storage and computing. Also, with operators intensely focused on Fourth Wave of Revenue, in view of the conventional revenue streams being under pressure, more trends are surfacing including Mobile Payments, Mobile Ads, Value-added service and Content sale.

Overcoming the Challenges Offered by the Industry

The industry encounters quite a few challenges including the lack of secure and policy-driven storage. There are also concerns related to accessing and sharing of content, within a mobile enterprise.

As an EVP, I have the tough task to ensure that the product and technology strategies are relevant to the customer's requirements and the marketplace, while ensuring a consistent yet profitable growth for our companies. All the customers we cater to are Tier I carriers, therefore, it is a foremost concern to keep pace with the current telecom sector, at the same time, ensuring quality.

Yet another challenge is to maintain a relevant product roadmap and constantly validate it with customers and the current requirements. I have always placed emphasis on keeping the team updated on latest trends and developments. It is equally imperative to follow the customer's requirements and build solutions in order to solve problems and come up with new revenue streams.

Another area with utmost focus for us is the diversification of customer base, though carriers are our key strength, making enterprises part of it, enables further diversification. In addition, the industry involves several aspects that require attention, which includes economic slowdown, reduced spending on Research and Development, which impacts innovations from the industry and functioning of public companies.

Customer Experience is the Key Factor

In the mobile world, the key factor is user-experience. Therefore, complex products have to be built in such a way that they are turned suitable for use on mobile platforms. When it comes to innovations, the focus should be on solving real customer problems so as to help them generate revenue, increase customer retention and lower costs. It is also important to communicate with the customers and peers in the industry to understand latest trends and think about ways to make the company work towards those trends. As part of the innovations, the R&D and product seems should work together to facilitate creative thinking.

(As told to Anitha Nair)

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