{"id":28340,"date":"2021-04-05T17:58:45","date_gmt":"2021-04-05T21:58:45","guid":{"rendered":"https:\/\/promptaai.com\/?page_id=28340"},"modified":"2021-04-19T17:12:25","modified_gmt":"2021-04-19T21:12:25","slug":"unlocking-technology-roi-through-modernization-and-cultural-readiness","status":"publish","type":"page","link":"https:\/\/promptaai.com\/es\/unlocking-technology-roi-through-modernization-and-cultural-readiness\/","title":{"rendered":"Unlocking Technology ROI Through Modernization and Cultural Readiness"},"content":{"rendered":"
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<\/a>This article is the first in a series exploring the trajectory of technology modernization & digitization trends, and the need to develop BOTH a Technology Strategy AND a Culture Strategy to guide the way forward.\u00a0 <\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Investment in Technology continues to grow while organizations struggle to achieve full ROI<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Gartner says Global IT spending will reach $4.0 trillion by 2021<\/a>;\u00a0 and this was their view before COVID hit.\u00a0 McKinsey identifies that, for large scale IT projects, 45% incur cost over runs, and 56% fail to achieve the full benefits case. That\u2019s millions, maybe billions of dollars of value left on the table globally – let that sink in.\u00a0<\/p>

This, and future articles in this series, will expand on technology modernization trends, risk factors, and mitigating interventions that can improve ROI results and stop wasting resources; and look at the critical role of organizational culture in the success or failure of technology initiatives.<\/p>

In a survey of more than 800 global executives published in December, 2020, McKinsey identifies that \u201cthe strongest companies are reinventing themselves through\u00a0next-normal operating models, capitalizing on this malleable moment and the resulting spread of agile processes, nimbler ways of working, and increased speed and productivity\u201d.\u00a0 Simple cultural resilience is no longer good enough to survive, let alone thrive through these transformational times.\u00a0 Adaptive resilience, and cultural factors that enable success are key to achieving maximum ROI on technology investments. Now more than ever, organizations face both challenge and opportunity to develop inter-dependent strategies for Technology Modernization and Cultural readiness for success.\u00a0<\/p>

Let\u2019s look at how this applies to a scenario with which many organizations may identify.\u00a0 Consider an organization that has accumulated legacy systems through acquisition, in-house development, and \u201cfit for purpose\u201d third party apps; and now struggles to integrate data and harvest advanced insights.\u00a0 They have heard about \u201cAgile Capable\u201d organizations, and are considering this approach to update their technology infrastructure.\u00a0 What follows is a broad framework of approach.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Set your North Star Vision & Technology Strategy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Many organizations today find themselves operating with disparate data structures, multiple legacy systems and inefficient E2E processes, held back by fragmented API structures, manual ETL efforts to support business reporting demands and often resulting in systems and data reconciliation and cleansing to land on a single source of truth.<\/p>

As business leaders see the increasing potential for data and technology to drive operating efficiencies, and insights, IT teams find themselves dedicating more and more resources to \u201csurvival\u201d activities, dealing with new demands as discrete tasks instead of as part of a holistic plan.\u00a0<\/p>

This is the time to step back, and create a North Star vision of technology modernization.\u00a0 Form a partnership between IT and Business Leaders to develop this vision while creating alignment to some tough questions, such as:\u00a0\u00a0\u00a0<\/p>

Why is technology modernization important?\u00a0 How will this benefit the organization?\u00a0 Is a large-scale ERP implementation the way to go?\u00a0 Is a cloud-based solution with single source data lake a better option?\u00a0 Once you are clear, and aligned, develop a roadmap to take small steps forward.\u00a0 Achieve quick wins, manage risk, and validate or course correct the approach.\u00a0<\/p>

Discovery Discussions<\/a>\u00a0 with industry experts who have travelled this path many times over may serve an important role in addressing these and other questions, developing a more fully informed view of your current state, Technology North Star vision, and \u201cquick win\u201d opportunities.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Culture Strategy Will Drive Focus on Enabling Attributes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Far too often, organizations focus on systems functionality, implementation timelines and budgets, yet ROI is achieved through user adoption, new ways of working, and overall business process efficiencies. Organizations are complex social structures with a web of interconnecting relationships among functional groups guided by processes, policies, role mandates, governance, colleague capabilities, organizational values, KPIs and other factors. \u00a0Cultural readiness for success requires a thorough understanding of baseline culture, attributes that associate with success, and a plan to enable those attributes.<\/p>

Lets specifically consider our organization with multiple legacy systems and disparate data sources choosing to become \u201cAgile Capable\u201d to drive technology modernization.\u00a0 \u201cAgile Capable\u201d organizations embrace specific ways of working such as sprints and scrums to deliver quick wins in line with a clear vision, generating positive momentum, engagement, user adoption and new ways of working.\u00a0 A recent case study of a top 10 US Bank client shares compelling evidence of success in using an agile approach to increase systems releases with highly targeted roadmap of priority opportunities and accelerated benefits.<\/p>

However, becoming \u201cAgile Capable\u201d is far more than just a training session.\u00a0 According to research conducted by Gallup among nearly 10,000 American and European workers, for an organization to become \u201cagile capable\u201d it must possess the following eight attributes within its culture: cooperation, speed of decision-making, trial tolerance, empowerment, technology adoption, simplicity, knowledge sharing, and a focus on innovation.\u00a0 Creating these cultural capabilities requires deep insights regarding colleague needs, wants, sentiments, and perceptions.\u00a0 Understanding your cultural baseline, and creating an environment that nurtures adaptive resilience that looks forward to a new normal will become key in your Culture Strategy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bind Technology Modernization and Culture Strategies through Active Change Management<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Think of change management as the activation of human resources, colleagues and stakeholders, for both your Technology Modernization and Culture Strategies.\u00a0 Now more than ever, with COVID driving \u201cnext normal\u201d ways of working, planning the people side of any technology project is vital. Colleagues need awareness, knowledge, tools and often new capabilities to engage and fully leverage opportunities enabled through technology.\u00a0 Leaders and sponsors need to know their roles and how to deliver them.\u00a0 Manager \u2013 employee relationships take on a greater importance to guide the change process, as does the role of communications. Measuring and monitoring important attributes and coaching executives and managers to demonstrate behaviors that support and nurture these attributes is key in driving sustainable culture change. Developing a common change management plan to drive BOTH Technology Modernization AND Culture Strategies will bind these interdependent works to a common roadmap of success.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Prompta \u00a0Readiness for Success<\/a>\u2122 Framework<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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This proven framework has been applied in large global, small local, commercial and not for profit organizations.\u00a0 Establishing a guiding \u201cnorth star vision\u201d of where your organization is heading with the change is the starting point.\u00a0 From there, local context also becomes critical to guide the construction of a targeted path forward unique to your vision and operational ecosystem.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Getting Started \u2013 Baseline Your Current State<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Developing a thorough understanding of current state is a critical first step in preparing for the development of BOTH Technology Modernization and Culture Strategy. Much of this information can be gathered from internal sources, such as a list of active applications, API interfaces, 3rd<\/sup> party applications, etc.\u00a0 However, some baseline information is more challenging.\u00a0 Simple surveys often fall short on revealing what employees really think, feel, want and need to embrace change.\u00a0 Cultural attributes that associate with success, such as trial tolerance, empowerment, knowledge sharing, and a focus on innovation are difficult to measure and even more difficult to influence, but important for success.\u00a0 This is where Prompta AI<\/a> \u2122 can play a role, with NLP capability to interpret open ended text input and reveal risks and opportunities; sentiments, needs and wants of colleagues.<\/p>

With current state understood, the \u201cPrompta Readiness for Success\u201d \u2122 framework will help to guide your thinking and planning.<\/p>

Discovery Discussions with industry experts who have travelled this path many times can be helpful in shaping an approach, and creating a business case. \u00a0Fill in the form below<\/strong>\u00a0to request a Discovery Session with no obligations. (click here<\/a> if the form is not showing)<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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