How have you been?
Last few weeks have been super hectic and has contributed me not being able to come back earlier to this topic "All Dinosaurs won't die and that's good for all!" and write a blog on it!
Glad that i have finally been able to make time for it, here are some of my thoughts in connection to how I see the incumbents evolve in the Asset Performance Management space in the CRE/facilities segment.
Integrated Workplace Management Systems (IWMS), Computerised Maintenance Management Software (CMMS) and Building Management Systems (BMS) have all been technologies that have existed for ages. Over the last few years, especially after the emergence of cloud and mobile applications, we are seeing changes happening in the marketplace. Start-ups with better drive, agility have been able to force reimagination on how some of the software’s look and work in current times.
While incumbents have been seemingly left behind in the software, analytics space, they certainly hold an edge when it comes to hardware and communications. So what does it really mean for the future?
My feeling is that not all dinosaurs are going to die and that is good for all stakeholders. As in the post Covid19 era we are witnessing a faster shift to embrace digital transformation, adapt data driven practices, i see some of the incumbents using the opportunity to potentially work with start-ups or challengers, cover gaps in the software side of things and offer a much better & competitive solution to end customers.
That is like a winning formula for all stakeholders. While not everyone is reacting fast, and that is ok as we cannot have a situation where every company would retain their position (at the top) for long, it is a zero sum game at the end of the day.
Much like the way we have had clear segmentation in Smart Phones Industry, ecosystem of application developers and the ones who focus on developing devices intersect to provide amazing solutions to customers.
Imagine what would happen if we would not be in control of both the choices we wish to make, that is to select the device and applications of our choice?
What is your thought on this?