Put the Business in Business Transformation
Understanding the justification for a business transformation can come from several external factors, the desired outcomes usually fall into one or more of the following categories;
a. an increase in revenue or market share
b. an improvement in customer satisfaction; and/or
c. a reduction in costs
In one perspective, according to Gartner, the most lean and agile companies are those who have repositioned themselves to get closer to their customers and be responsive not just to their needs, but to their customer’s habits and desires. [1E]
When planning for the “how” to get these results, an article released by CIO.com warns that “redundancy kills” and the remedy is “IT consolidation.” Through the standardization of assets and processes, relocating resources centrally and eliminating redundant capabilities (including hardware, software, and duplicate staff functions), studies support cost savings results of up to 25 percent [CIO.com].
In today’s global digital marketplace, company leaders (i.e., CIOs, CEOs, etc.) are looked to as the visionaries that can see the business through a digital mindset.
The winning foundation for business transformation, regardless of your digital presence in the market, requires a unique understanding of how your organization conducts business and to the depth of understanding how it leverages technology and third party vendors.
Transformation with IOR Insight
Whether your business transformation demands are due to a recent merger, acquisition, product line expansion, or to gain a competitive advantage in your market, IOR can help gain the visibility and understanding to build this winning foundation.
The IOR Insight platform aims to eliminate the common decision-making challenge of operating in a vacuum. Uninformed decisions result from relying on old data or processes, inability to integrated input from other stakeholders that may be impacted, or lack of technical depth to fully understand multifaceted issues at hand, to name a few. [Harvard Business Review]
To reduce these risks, IOR Insight enables informed and effective decision-making by the platform’s out of the box functionality to visualize interconnections between systems, vendors, locations, department, or people and the data used at each step. The information captured within IOR Insight provides the visibility and tools needed to maintain an accurate picture, and facilitate making informed and intelligent decisions.
Typically, leaders attain a complete picture of their organization’s business functions and processes by employing highly manual methods requiring many hours of effort (sometime thousands) to get an initial view. From the initial view, in order to maintain the relevance of said data, those methods are often repeated as needed. Consider the multitude of diagrams, spreadsheets, and presentation decks that would be created by an army of analysts. Analyzing all those documents that are inherently disconnected require an incredible amount of human toil to first analyze and then draw actionable conclusions. The process of connecting the dots and attempting to understand where you stand becomes a project of its own, reducing resource productivity by demanding time to create yet another snapshot in time.
Utilizing IOR Insight, this upfront investment can be reduced by nearly 60% to obtain the information and visuals needed, and management for ongoing upkeep (annually) by approximately 70%.
IOR Insight enables a unique understanding of business process and the technology/third parties used to support it compared to traditional data flow mapping efforts. Considering our rich out of the box analytics capabilities, the cost is reduced to nearly zero to get this visibility/intelligence from this the rich data set IOR Insight consumes.
Following a merger, an IOR customer brought to life the real world application and impact of IOR Insight’s ability to support their specific business transformation needs. The customer wanted to consolidate IT and Vendors using a best of breed selection approach.
IOR Insight was deployed in 1 business day and over the course of a few weeks, business processes were mapped from the respective legacy organization’s vantage points. Not surprisingly, the global manufacturing entity had duplicate Research and Development (R&D) and manufacturing processes with redundant third party service providers and IT solutions for collaborating with overseas manufacturers.
By mapping R&D business processes into IOR Insight, the customer was able to consolidate and standardize their R&D processes and develop a strategic plan to reduce the consumption of more than half (60%) of redundant cloud platforms and higher risk third party service providers. Additionally, by virtue of the IOR platform, the customer also was able to quickly identify the business processes and third party vendors creating the majority of their data risks.
From the CEO of the global manufacturing company, “IOR Insight enabled us to secure and standardize our product R&D processes, and provided us visibility into our major areas of data risk in the cloud.”
Contact us for more information about how we can assist your team.
CIO Magazine: How CIOs can guide digital business transformation
CIO Magazine: Reduce Information Technology Complexity, Costs with Consolidation
1E: The Real Cost of Unused Software
9 Habits That Lead to Terrible Decisions