In the wake of the not so distant COVID-19 crisis, many enterprises across the globe were forced to put their transformative initiatives on hold. After nearly a year, enterprises have the opportunity to launch or relaunch their programs. Here are a few steps they can take to follow transformation initiatives while also substantially reducing their integration costs.
With the start of 2021, enterprises across industries are rushing to develop strategies to make the most out of it. One of the first steps they are taking is to launch or relaunch their transformation programs that were put on hold due to the pandemic.
Since the COVID-19 has changed the way many enterprises across industries operate; enterprises need to rethink the way they approach their transformation initiatives. They need to develop effective strategies and draw a roadmap to help them achieve their goals on a stringent budget.
Below are four critical steps enterprises can take to launch or relaunch their transformation initiative programs:
Verifying the project’s value proposition
As enterprises start to review the programs that were put on hold, it is likely that most of the benefits it provided are of no use since enterprises changed their business practices. Furthermore, the vendors’ community has had an entire year for implementing their product roadmaps to develop features that justify the needs of today’s enterprises.
Thus, to evaluate the necessity of their buried projects, enterprises must validate and verify whether the projects still bring forth the benefits required to enable the business transformation. Establishing a strong foundation for the business benefits of the transformation initiatives increases the chances of its successful implementation.
Establishing a program delivery model
The COVID-19 has forced enterprises to adopt the remote working model. Since it has also eliminated the need for consultants to travel for supporting client engagements, travel and expenses (T&E) have been substantially reduced.
This provides an opportunity for enterprises to not pay or partner with vendors who are stickier. By leveraging the virtual delivery model, enterprises can reduce their T&E and pivot their investment towards strengthening and securing their infrastructure.
Defining the role of the software vendors
Today, software vendors are trying to find ways to diversify their services even though enterprises can be operational by using only a few of them. This behavior has been embraced by many tech giants, further increasing the stress in the relationship between the software vendors and the implementers.
To avoid this scenario going forward, enterprises can define the configuration of services by asking the software vendors to define a few different configurations. Then, enterprise leaders can check in with their software implementers that suit their needs and compliment their proposal, minimizing the potential overlap while utilizing the services of different vendors.
Strengthening retention/personnel continuity strategy
As today’s era provides opportunities for key resources to find jobs virtually, many of them can decide to exit during the transformation process when things go south. This can increase the attrition rate, which may hurt the transformation initiatives. Therefore, enterprise leaders must take steps to deal not only with the attrition of their software vendor but also with their internal resources.
Resurrecting the transformative programs that were put on hold can be tempting. Yet, without dedicating the necessary time and resources, it will only be difficult to relaunch the project that is set to bring forth the transformative business operations.