Smaller superannuation funds looking to improve their operations should not be inhibited by size, according to an innovation specialist.
"It's all about scale. When we started we had half a resource and the reason why we continue to invest is we see it paying for itself," Deloitte lead innovation partner Jenny Wilson said.
In a small organisation being innovative needs to incorporate breaking tasks down into more manageable activities, Wilson said.
"It might be that you're running fortnightly or monthly brainstorming sessions. You need to challenge them about the concept to focus their minds and then generate ideas around that," she said.
Wilson said it was critical to include a very simple process that will evaluate any innovative ideas generated and make decisions on how to use them.
"I would say you can achieve it, you just need to bring it down to a manageable level," she said.
Small superannuation funds that outsource some services should not see this characteristic as an impediment to innovation either, according to Wilson.
"That's where you can get some of your collaborative innovations," she said.
"You can either see that as a challenge or tap into it as a source of ideas as well as how you might partner more effectively with some of those organisations."
