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Sponsored by Inpensa Software
Whether the point of origin is in a line of business organization, IT or elsewhere, the Inpensa Platform provides the ability to register and characterize early-stage ideas rapidly.
Inpensa uses the corporation’s standard taxonomy so that the potential project can be defined adequately at the outset and move smoothly through the assessment and prioritization process.
In minutes, any authorized user can define an idea that can be detailed further in collaboration with additional stakeholders. Rapid capture with a standard format makes the evaluation of proposals relative to others fast and easy. Studies have shown that crowdsourcing ideas from within a large organization leads to high-value transformation initiatives that make a significant impact.
Once an idea is registered, a sponsor begins defining an initiative by creating a background profile that builds on the high-level attributes collected initially. Each step builds on the prior, with requests for information disclosed progressively as the project progresses through the governance process.
Throughout the process, the Platform prompts the user with requests for required information and valid values to categorize further the proposed initiative consistent with the organization’s standards. This is an easy way to capture a brief narrative, opportunity and risks that describes the project.
Capturing high-level financial information is easier than ever with the Inpensa Platform.
Initial estimates for costs and benefits are outlined at the annual level for immediate visibility to benefits such as increased revenue, cost savings, and cost avoidance, along with corresponding costs from a capital expenditure, one-time operating expense, and ongoing operating expense perspective.
Project sponsors and team members gain quick access to summary cost and benefit information along with a preliminary view to essential company evaluation metrics, such as return on investment (ROI), net present value (NPV), internal rate of return (IRR), Payback Period and more.
These metrics collectively help clarify whether team members would like to move the idea forward for further consideration or work to enhance and refine to increase the likelihood of approval.
With the Inpensa Platform, it is easy to manage a pipeline of fresh ideas and rapidly identify proposals that should move forward in the process.
Users rank potential projects according to a range of criteria drawn from project classification and categorization or one or more perspectives on cost/benefit analysis. High potential projects can be accelerated for detailed business case construction and analysis, while others adjudicated.