Chief executives in all sectors face having to move their business away from traditional product-based revenue streams to new, innovative service-based models. A new guide from IFS, titled ‘how to achieve value from an enterprise-wide technology change’, primes management consultants and transformation managers driving high value, low risk business transformations with C-suite stakeholders. In this first guide preview contributor Matt Smith, Global Chief Architect at IFS, considers how to reduce risk by selecting the right technology solution…
Workplace technology change and transformation experiences can be good. They can transform the fortunes of a company. But the reality of life is that they can also be bad. Really bad. Unsurprisingly, when IT vendors fail to deliver, it’s not something people tend to forget. When executives were quizzed, The McKinsey 5400 IT change projects study learnt:
- 45% were over budget
- 7% ran over time
- And 56% delivered less value than expected
This, at first glance, does not bode well. But let’s dig a little deeper first. What is it that can derail a transformation? Well for starters, the absence of a shared understanding of the business goals and the risks are both right up there. Without a robust discovery process and a methodology that reveals the potential value of change, no one will ever be on the same page. Both advisors and IT vendors have to understand their client’s business.
Robust methodologies reveal critical insights
In response, IFS has developed several tools and methodologies to define and deliver effective business change outcomes, and demonstrate a compelling, value-based business case for every prospect/customer. These include The IFS Six Box Model™ pinpointing specific business initiatives needed; our Digital Business Value Assessment, a rapid engagement to reveal opportunities to transition to, or introduce, best-in-class processes; the IFS Scope tool, ensuring all parties understand what is included and what will be delivered in a project; and the IFS Value Assurance Service, assigning actions against a collaborative Customer Success plan to continuously refine and maximize the solution performance after deployment over a multi-year period.
The bottom line is that unless the solution is delivering incremental value from the outset, go-live does not equate to success. Our ongoing engagement, IFS Success, creates a post deployment plan designed to achieve the outcomes and the value of the overall change project over time. Our customers choose to realize value on their own, or work with our experts to reduce the level of internal resources and investment required.
Technology choices should never be taken without first securing a clear future vision for the business, and any barriers and risks.
For practical guidance when advising the board, download the guide now: https://info.ifs.com/valuefromtechnologychange.html
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