on March 17, 2020 in Business Case Management

Save Time Writing Business Cases While Ensuring High Fidelity Information and Analytics

a man hit a key on the computer keyboard

Ever wish you had more hours in your day to get to the work that really matters? You know how it is. You set aside entire blocks of time that ultimately get taken up trying to contrast and compare data from all those daily, weekly and monthly reports on the status of potential and in-flight strategic investment initiatives. How are costs tracking? Are benefits being realized? Are you using financial data for evaluation and reporting that are executive decision grade? What if you had a framework that enabled you to standardize and institutionalize the rules around data capture and analysis?

Imagine that you could enhance your company’s use of data collection and tracking methods with a consistent and easy to use business case management framework that could provide an alternative to spreadsheets. Inpensa’s business case management tool standardizes taxonomy so you can easily characterize important metrics like projected payback period and ROI, allowing you to make important executive decisions faster and with higher confidence.

Below, we dive into some of the benefits of such an approach.

Benefits of More Confidence in Data

With high quality, standardized data, not only can you eliminate the costly effort of scrubbing and aggregating data across a large organization, but you can also set up dashboards that deliver the actionable analytics you need. Inpensa’s platform provides the ability to create and use dashboards that make it simple to conduct efficient analysis of business cases in composition and in flight across projects, programs, portfolios, strategies, and more.

Data Confidence Case Study

With more confidence in your data, you can make better decisions. There are countless stories about the real-life benefits of data confidence, but we’ll take a quick look at one of them.

Inpensa recently worked with a multinational company that specializes in healthcare informatics and life sciences clinical research. Their organization was overwhelmed by a lack of an institutionalized governance process. They turned to Inpensa for guidance. With the Inpensa platform they were able to standardize and automate their investment governance lifecycle. Integration across the capital planning and business case creation processes not only streamlined workflows but also provided access to accurate, real-time data, driving more timely and effective decisions.

What’s more, data and process harmonization enabled their team to easily collaborate throughout and across capital planning and business case creation activities. They now have data-driven decision-making procedures that ensure every approved project aligns with and supports their financial, business outcome, and corporate objectives.

The Takeaway

When you spend significantly less time capturing and validating data, you can spend more time analyzing information. What’s more, with the right tools you can even analyze information more efficiently. With actionable analytics at your fingertips you’ll be able to expedite and simplify the decision-making process. Basically, you can make better decisions with greater confidence.

Confidence in data—especially when it comes with accurate and detailed analytics—can help drive better business processes and outcomes. That’s why Inpensa created its business case management platform. We can’t make more hours in the day, but we can help you make better use of the ones we’ve got.

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