Flexibility is essential for business success: Bravura

The financial services industry is evolving rapidly under the influence of new technology, reinforcing the need for businesses to remain flexible and nimble, Bravura Solutions has said.

Flexibility is essential for business success: Bravura

tlewis

Last Updated: 23 September 2015 Published: 23 September 2015

Speaking in Sydney yesterday, Bravura Solutions Asia-Pacific managing director Roland Slee said businesses need to partner with software providers to keep pace with change, both innovative and regulatory.

"No industry is immune from being profoundly disrupted by the effect of new technology, and the technologies that are driving those changes are cloud, mobility and big data," he said.

"As an expression of that, what we're seeing is more of the highly competitive and innovative organisations are disaggregating what were traditionally vertically integrated businesses."

According to Mr Slee, businesses are rejecting traditional business models and opting for disaggregated and best-of-breed approaches.

Moreover, Mr Slee pointed out that the expectations of customers have changed, most notably due to the influence of mobility and direct-to-consumer approaches.

"All of these things have meant that wealth managers have had to become much more responsive."

Mr Slee argued that to become successful in today's environment, businesses need to "simplify, consolidate, automate and focus on the customer".

"These things are a recipe for success," he said.