Gain insight into best practices for investment governance in the digital and technology space during a period of uncertainty and volatility.WATCH NOW
Sponsored by Inpensa Software
More than ever, IT organizations must master an increasingly complex fabric of rapidly evolving technologies to drive competitive advantage.
At the same time, business operations strive for the agility required to meet increasingly significant and often unpredictable challenges at the corporate, industry segment, and, at times, global level.
The interplay between business capabilities delivered by applications and the underlying technology infrastructure creates a web of interdependencies with opportunities and trade-offs.
With the Inpensa Digital Investment Governance Platform, the Office of the CIO and the entire Technology organization engage in a proactive and impactful manner in all aspects of the strategic initiative assessment and management process supported by crucial Platform capabilities that include:
IT organizations understand the orchestration required to deliver best-in-class capabilities for companies to compete and win in today’s increasingly competitive and demanding climate.
Using the Inpensa Platform, IT collaborates at the outset with customers from the line of business and Finance perspectives for high-level alignment on requirements for delivery of cutting edge capabilities to drive meaningful business outcomes.
At the beginning of the planning process, IT estimates the time and expense required to fulfill a project charter. Cost categories can span from a range of capital equipment and infrastructure components to software application licenses and software development activities. Based on required skill sets and timing, resources may include a blend of permanent and contingent workforces. Also, consideration of operational risk and cyber-security implications figure importantly into the viability and resource requirements for any potential project.
Technology executives play an essential role in maximizing return on investment capital through ongoing efforts to compress run-the-business costs without compromising service or results.
IT uses Inpensa to identify relatively high-cost and comparatively low-return current investments and provides the capability to explore alternatives proactively. Then, executives re-direct funds to high-impact change-the-business or transform-the-business projects to enhance top-line and bottom-line results. Inpensa empowers IT to contribute actively to the ongoing value creation process.
IT faces challenges beyond the on-time delivery of competitive capabilities. The organization must align its approach by balancing the goals of business and Finance. Criteria to consider in relative importance to the business customer and Finance include:
The Inpensa Platform facilitates the evaluation of alternative approaches with robust scenario analysis. These capabilities equip IT to offer a recommended plan that balances business and financial goals, arriving at the best answer, faster and with certitude.
Organizations are deploying results and conditions-based funding models for an increasing range of projects and programs. For many IT teams, this represents a departure from managing to a fiscal year wallet with assumptions built on requirements for carryover projects and prior year spend.
IT teams and their business customers must work together using a new rubric. Inpensa enables collaborative development of business cases comprised of component level delivery of capabilities. Tying incremental capabilities to certified benefits supports an agile model, with projects and programs establishing a track record of delivering capabilities and value capturing an increasingly larger budget share. With Inpensa, IT plays a vital role in optimizing return on capital deployed.
Due to the unique role of IT, technology initiatives deliver benefits in several different ways. First, projects may generate direct benefits, such as cost savings and cost avoidance by moving applications off the corporate infrastructure and into the cloud. Second, programs may drive value by enabling capabilities that deliver benefits in conjunction with market-facing activities, such as increasing revenue by accelerating transaction clearing time.
In either case, Inpensa’s Benefits Tracking and Realization capabilities ensure full visibility and accountability for delivering the resulting benefits underlying the initiative’s approval.
Tracking financial benefits and measurable business outcomes institutionalizes best practices. These data are used for ongoing budgeting decisions and as input to re-balancing efforts as needed.
In a rapidly changing, increasingly complex environment, the Inpensa Platform delivers the means for the Office of the CIO to occupy a high impact seat at the strategy table and play an active role in accelerating value creation and managing risk.