January 10, 2025

Walking the Tightrope between Tech Innovation and Governance

This article first appeared in our monthly Jacksonville Daily Record Industry Insights Column

How Companies Can Innovate Responsibly While Mitigating Risk

There’s a wonderful line delivered by Jeff Goldblum in 1993’s box office smash movie “Jurassic Park” that perfectly crystalizes many of the biggest questions that companies struggle with today.

“They were so preoccupied with whether or not they could that they didn’t stop to think if they should,” says Dr. Ian Malcolm, a chaos theory scientist, as he confronts the man who has resurrected dinosaurs from extinct DNA, shortly before they escape and wreak havoc.

While most modern-day businesses don’t need to worry about rampaging velociraptors, they do confront a familiar dilemma: embracing the latest technology to gain a competitive edge while ensuring these advancements align with their values and commitment to customers, especially around privacy and security.

Innovation and Governance: A Complementary Partnership

Innovation and governance are often seen as competing forces, but companies that view them as complementary are far more successful. According to recent research, companies embracing a culture of innovation are over three times more likely to generate higher revenue and enjoy greater customer satisfaction than their competitors. A strong governance framework doesn’t need to stifle innovation—it should support it. Done right, governance provides a flexible foundation where teams can experiment safely, backed by clear guidelines that protect both customers and the organization.

A balanced governance framework achieves this in a few ways:

It gives all employees a clear understanding of how innovative technology should be used.
It fosters flexible policies, allowing adjustments to keep pace with new technology while evolving in line with the company’s goals.
It emphasizes transparency so stakeholders know how the tech works, its purpose, and how sensitive tasks like data collection and retention are handled.
By keeping these core tenets front and center, companies can innovate swiftly without sacrificing security.

Defining Success in Innovation and Governance

We all recognize the hallmarks of innovative success: increasing lead conversion, higher ROI, and streamlined workflows that save time and money. Governance success, while perhaps less glamorous, is just as crucial: it involves regulatory compliance, fortified data security, and reduced risk to all stakeholders. A well-balanced approach actively connects these areas, ensuring that innovation drives value safely and responsibly.

For companies struggling to find this balance between “what’s next” and “what’s safe,” we’re here to help. Email us at hello@valyr.com to explore how a tailored governance strategy can support your innovation goals and lead to a synergy that sets your business apart.

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Melissa Albanes

A product marketer before launching Valyr with Gabriel, Melissa has held growth roles at various technology companies, from startups to DocuSign and Google. Today, Melissa serves as our COO and a sales advocate for our company. She also leads Valyr’s “give back” efforts to our military veteran community. When she’s not at her desk, you can find her immersed in a novel, trying out new board games, or embarking on outdoor adventures.