TL;DR – Download a checklist to help you select new technology to stave off buyer’s remorse.
Back in the “Before Times,” when we’d all head out to Orlando, San Diego, Boston or Scottsdale for conference season, you could feel the industry as a whole suck in a collective breath. The announcements were coming. Who made a new thing? Who’s going to open up new APIs? What’s the next bolt-on to our tech stack that’s going to change the way we add value to clients?
Fresh Innovations Turn Our Heads
The stages were literally set for these moments. Our favorite industry reporters sat among us in the audience. We piled into hotel conference rooms because we all knew that even if we’re generally happy with where we are, nothing ever stays the same. The bar was always going to keep getting pushed higher.
To see how the technology landscape has changed, look no further than Michael Kitces’ FinTech Map to see the industry boom.
Hope Springs Eternal
With every new announcement and every software update, we’ve held out hope that we’d finally be able to reach efficient processes or to differentiate ourselves from the competition. But deep down, even as we signed agreements, we have always known that arriving at nirvana wasn’t likely.
Here’s a typical tech selection process
Acknowledge a pressing problem
Sit in on demos and comparison shop
Select new technology
Wince, as internal processes get clunkier
Watch as the tech doesn’t reach full adoption across the firm
See data get stuck into a new silo
Look for new solution
This isn’t ideal and it doesn’t have to be the norm.