Project Description

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Think big, start small

The term “disruptive technology” puts fear in the hearts of businesses, but the underlying goal is to eliminate obstacles that impede the flow of commerce. The intent is to improve any aspect of your business, from the customer experience to treasury management, by enabling faster, better, and smarter ways of doing things. Therefore these technologies present an opportunity, not a threat.

Any technology that can change the status quo can be considered a disruptor. No matter who you are, or what is the focus of your business, the use of technologies to enable constructive commerce is within your reach.

Small sprints can have big effects

In a business environment of continual evolution, where projects have no start or end but are ongoing, small, incremental shifts can have a major impact. Not all technology adoption needs to be a massive undertaking that requires significant investment, enterprise-wide buy-in, and the heavy involvement of IT resources.

Today many technologies are accessible and easy to try out. For example, robotic process automation (RPA) lets you automate routine tasks in your existing applications using programmed software. It is easy to enlist a tech-savvy team member to download approved RPA software and experiment with automating a report or repetitive task.

Simple brought to scale

Often the most innovative business models are not complex. Rather, they start with a simple concept, like a car service or vacation rental booking service. They take advantage of open networks and APIs to aggregate services and create a simple, seamless customer experience that offers an unprecedented level of connectedness between people, services, financial flows, and information.

The ability to combine readily accessible technology tools, and take advantage of microservices offered by other providers and business partners, has allowed innovators to scale new business models and redefine industries. Part of the transformation includes appealing to more people, who previously were not participating in a segment, in order to increase the size of the market. Uber, for example, tapped into a much broader market by making it easy for more people to use a car service.

Don’t ask why, ask why not

The starting point for improvement is an openness to change. Instead of asking “why should we do things differently,” perhaps a more intriguing question is “why shouldn’t we?” A mindset of openness requires continuous learning and intellectual curiosity.

What are your aspirations for constructive commerce and an easier work life? For example:

  • What if instead of managing all our login credentials, the information could come to us when we need it?
  • What if any bank (not just our own bank) with an ATM could accept our customers’ payments?
  • What if we could receive the information we need in real time right inside the applications we are working with in the right format?

No “what if” is too big if you start out small. The technology exists today to envision a more constructive way to conduct your business and achieve it in small steps.

Disruptive technologies enable constructive approaches to commerce

Disruption is positive if it moves things forward. It’s about eliminating obstacles to doing business. Disruptive technologies do just that by making things easier for your company and its ecosystem of customers, suppliers, and business partners.

In an increasingly digital business environment, more and more technology tools are becoming readily available and accessible. The path to constructive commerce is within the reach of any company that wants to enable new and improved ways of doing business or enhance the customer experience.

For more information, contact your Wells Fargo treasury management representative or fill out the Contact Us form on this site.