How Process Mining Technology Creates a more Agile and Informed Enterprise.
Process mining delivers unique insights into how processes are actually executed quantifying which activities contribute or detract from your business performance.
This article looks at the issues of legacy and their adverse impact as part of ERP selection and implementation. A change in ERP selection process is suggested to have the most successful outcome.
This article describes a framework to reduce the complexity of software application integrations. It discusses the needs of different software in the integration process and how to manage different data flows to complement business processes. It results in 5 clear steps to integrate applications.
Many companies rightly identify the need to acquire new ERP systems. There are many drivers for change, but common themes are always evident. For example, standardising cross departmental processes or increasing visibility into the organisation, often across multiple legal entities. Yet in my experience of dealing with many businesses across Europe on a weekly basis, it is alarming how many...
The insurance industry is being disrupted by the rise of insuretech companies. This is leading to increased accounting challenges in the insurance industry, leading to business inefficiencies. Therefore companies in the insurance sector need to reconsider their back-office systems to support the futureproofing of the business.
Without a framework, goal setting can often be a ponderous process. Vague thoughts of desired achievements, possibly unconnected and perhaps rushed as internal deadlines loom. In this article I propose a visual framework to set goals, whilst relating this to the learning “S-Curve” proposed by Juan Méndez and Whitney Johnson. In my opinion, relating these two frameworks together produce a powerful tool for accelerated career progression.
Market and industry awareness coupled with experience is invaluable in operationally geared businesses; especially those that are subject to cyclical or seasonal revenue flows. Whilst this will give a good insight into external factors, data and the quantification of performance or trends remains the nadir of prudent decision making. The time delay between calendar month end and senior management receiving reliable performance data is an uncomfortably common scenario. Compound this with an operationally geared business and the data, and decisions made as a result, might seriously lag the actual performance of the organisation. Risk in this scenario is exacerbated where profits are under pressure due to high operational gearing.
It is of little surprise that business models have become more subscription based. Companies benefit from a recurring revenue stream and greater revenue predictability. Consumers pay for time-bound access to goods and services, avoiding large capital expenditure when compared with buying the same access outright. However, as subscriptions become the dominant model, high customer loyalty and net promoter scores are needed to ensure consistent business growth. Given that customers are paying for access rather than ownership, it is easier to switch to competitive products at the end of contract terms. Crucially, this could be before customer lifetime value (LTV) has balanced customer acquisition costs, therefore yielding a negative gross customer margin.
I write this on the day that UK based software company Sage has announced the departure of their CEO Stephen Kelly. This neatly evidences the point of this article. Sage has struggled with inconsistent product strategy to move the business into the cloud. It’s historic on premise and hosted model hasn’t matched the fast moving needs of current businesses. As a...
The most under appreciated business risk for SMEs is placing disproportionate responsibility with the finance department. The finance department is a cornerstone of any business. Not least because of statutory accounting requirements but often because they are the custodians of cross-business information and reporting processes. Finance teams usually become the point of data consolidation from multiple subsidiaries. Depending on the...