We often discuss what makes an enterprise technology project successful; whether it be how to mitigate project risk and maintain budget, or the necessary processes that should guide any new implementation. However, no matter what software is implemented, a poorly guided project will cost your business money.
Arguably the greatest risk that projects face is a lack of senior management support. This includes the C-Suite, and priority executives. A project team is only as good as the support they receive from on-board senior management. When teams watch senior managers engage in projects, they feel empowered to drive projects forward and maintain strict deadlines. This creates buy-in and ensures maximum ROI for your software investment.
Technology changes through the CEO’s eyes
New business opportunities are being created faster than ever before. A new survey conducted by PriceWaterhouseCoopers explores the agenda of today’s CEO. The survey showed data relating to growth, competition, technology, partnering, and diversity. CEOs were asked if they believe global economic growth will improve, stay the same, or decline. Over 40 percent of respondents said globalization will remain the same, while nearly 25 percent said economic growth will improve. Only 17 percent said there will be a decline in economic growth. This is correlating to an eagerness to invest in enterprise technology over the next few years. Expectantly, executives are becoming more project management conscious because of this as they find themselves envisioning these new enterprise technology investments live inside of their business.
The only constant in enterprise technology is change. However, this change is usually good. Change equals progress. This includes; more tools, more opportunities, and greater efficiency. More and more industries are refining and revamping business operations each year in light of these innovations. Global economic growth is merely a side effect of these businesses moving infrastructure forward. CEO’s understand the forward thinking required to envision the development of software and industry innovation. Often what holds them back is insight from their stakeholders which can help them decipher the direction business is headed. The implementation of business intelligence tools is greatly helping to make this more efficient.
Current market shifts to cloud-based and aPaaS software are systematically changing the dynamic of today’s software marketplace. As more services and products are brought to customers via e-commerce sites or through agile API integrations, no innovative idea is out of reach. Businesses are capable of providing products and solutions for customers in the most remote parts of the globe. This has created an unprecedented growth opportunity. Firms are rapidly integrating enterprise software with robust analytic applications and business intelligence that is providing insight as to just how this is possible, and are far more capable of improving their position than ever before.
When asked about the importance of having a “clear vision of how digital technologies can help achieve a competitive advantage in order to get the most out of a digital investment”, nearly all respondents agreed it was high priority. We discuss this ideal a lot in our articles. We always advocate finding the right tool for the right job, and molding it to fit your business; through customization, integration, and implementation.
The power of expansion and social collaboration
Nearly 50 percent of CEOs say a top reason for collaborating with partners or creating a strategic alliance is to access new customers, technologies, and geographic markets. Cloud-based resource management software, like Epicor 10, is increasingly becoming integrated with agile CRM and BI tools in order to infiltrate a trove of analytics and opportunities that will show organizations where the most profitable partnerships can be found.
The survey further explored CEO thoughts regarding socially enabled business processes. Over 60 percent of respondents surveyed expressed that a socially enabled organization was strategically important. A major cause of project failure is a lack of internal communication. This was a major point at Microsoft Convergence this year. If silo leaders fail to adopt change, their team will too. Utilizing streamlined social communication tools and strategies can help organizations avoid this common pitfall. An example of ERP software technology embracing this principle is the latest version of Epicor 10 resource software; which was built out to include a social enterprise module that allows business users to follow one another, and follow feeds on actionable items, or items in which they are a stakeholder. Several years ago, it wouldn’t really make sense to embed social alerts in to an enterprise resource planning tool. It just goes to show how quickly enterprise technology is evolving.
Enterprise technology changes can be emotional decisions. It costs money, time, and valuable resources. People’s jobs depend on the future state of this technology, and supply chain entities rely on those businesses to carry out their operations. As you may suspect, this is why senior managers must be on board with projects if they expect the project to ultimately produce a return on investment.
Partnering with business software experts can benefit the organization’s ability to strengthen their innovation and customer satisfaction capabilities. It allows senior project leaders to focus on the future state of the firm and promote user adoption rather than the technical details better left to experts. Remember, technology infrastructure is only as good as the people that are using it.
Is your firm being held back due to a disparate system? Are their problems occurring for reasons unknown? Join the conversation and share your ERP and CRM implementation experiences with us below.