This Industry Week article provides examples of some of the innovations I had in mind when I speak on innovation and leadership as engines of economic recovery. http://www.industryweek.com/PrintArticle.aspx?ArticleID=26015&cid=NLIWIT
ROI, Not a Model, a Process At eProcesses we see most Cost Justifications and or Return on Investment documents for technology investments following the normal Rate of Return, Payback Period, Net Present Value, etc. model. Though sound from a financial point of view, there are underlying elements that are overlooked when it comes to new technology.
The chart represents a process where Corporate Strategies/Goals are the starting point for financial analysis. The process then moves to the departments/business units that are going to be involved in the new technology. The departments define their ‘Functional Objectives’ with the new technology and, therefore, capture the motivation for the investment and the business objectives that are to be achieved. These objectives and motives have value and provide direction for the ensuing project. It is up to the project team to quantify the value and include it in the ROI calculation. All of this is then moved to initial starting point of the technology project.
Integration of Business Processes and Human Behaviors with Technology To truly achieve the full benefit of your technology investment, eProcesses suggests there is another element to consider. eProcesses observes that companies usually invest in technology to achieve greater value from their Human Resources. But we rarely encounter companies who make the other investment that is required to realize the benefits, the real integration of the new technology into the processes and behaviors of the organization. The ROI that convinced you to invest in hardware or software throughout the company had an underlying assumption that you would change the way you do business. At eProcesses we help you change the way you do business. We help you realize the ROI you initially expected when you invested in the technology.
Technical vs. Process vs. People Integration Integration is a term that is commonly used, frequently without agreement as to definition. A dictionary definition of “integration” would say “the act of forming, coordinating, or blending into a functioning or unified whole.” It is commonly used, especially in association with technology, purely from the perspective of systems integration. In practice, however, even systems integration involves much more than integrating systems.
At eProcesses, when we speak of integration we speak of technical or systems integration but extend systems to include not only technology but business processes and people and their behavior. We believe that a company cannot realize the full value of its investment in technology, in business processes, or in people unless all three are integrated into a effective, efficient, well-tuned whole.
Technical Integration and ECR New technology is a common path that companies take to improve organizational performance. Rarely will a company make an investment in technology without the expectation of an appropriate return on investment. Companies understand that new tools or technologies may be required to improve the capabilities of their workforces and to improve the capacity of the organization. Technology is seen as a way to improve the efficiency of the workforce or the throughput of a plant or the service level that can be provided.