By Luis Vargas
In an earlier post, we discussed the pros and cons of customization vs. using an “out of the box” solution. When selecting a technological solution, it is worth thinking about your initiative in the context of your industry. There may be any number of technology solutions specific to your industry that, when used wisely, can help you achieve your goals faster and with less friction. After all, they were designed with you in mind.
On the other hand, sometimes a technological...
By Luis Vargas
Technology moves fast. Being able to move with it—acting quickly, and efficiently, and pivoting when necessary—is one of the keys to success.
But speed is not the only consideration. Making smart decisions is equally valuable.
“Failing fast” means taking an iterative approach to problem-solving—being open to the possibility of failure as a way of gaining information. Failing can give early indications of what does and doesn’t work and can save time and money in the...
By Luis Vargas
Every business has unique needs, and it can be tempting to customize existing software solutions to meet those needs precisely.
However, customization requires specialized coding skills and, in some cases, custom implementation, which can cause a cascade of challenges. Further revisions will require more code; future releases could be impacted, necessitating even more code. If the customization impacts the software’s functionality, the vendor is typically not responsible...
By Luis Vargas
You’ve selected your project and you’ve lined up your KPIs. Now it’s time to drive that project forward and over the finish line.
It’s all too common for IT initiatives to get bogged down in bureaucracy, inertia, and poor communication. To overcome those obstacles, you need someone who can pilot the project from beginning to end. You need someone who can craft and share a vision of what the initiative will do, respond to objections, and break through stumbling...
by Luis Vargas
You’ve put time and effort into selecting the right IT project—naturally, you want it to be successful.
But what does “success” really mean?
Without a clear definition, knowing when and if your project is truly successful is impossible. Clear, measurable targets, also known as Key Performance Indicators, or KPIs, are critical because they provide data that helps you track your progress.
Good KPIs help evaluate the success of a particular activity and even help you...
By Luis Vargas, Director, CFO Advisory
This is part one of a seven-part series on maximizing your organization’s IT investments.
Every organization must decide how to allocate limited human and financial resources across competing needs, and stakes are exceptionally high when selecting suitable IT investments. Research by McKinsey found that large IT projects run 45% over budget while delivering 56% less value than predicted. The same study found that 17% of IT investments...
By Alex Volpi, Technology Advisory Practice Leader More than ever, businesses are investing in technology. Worldwide IT spending is totaled $4.2 trillion in 2021, an increase of 8.6% from 2020, according to the latest forecast by Gartner, Inc.
Companies are constantly bombarded by the term ‘Digital Transformation.’ Overhauling manual internal processes, retiring legacy business software, and implementing modern cloud technology is the goal for many business...
By Alex Volpi, Technology Advisory Practice Leader At some point, companies will reach a point where spreadsheets, disparate systems and disjointed processes are no longer cutting it. This is where Enterprise Resource Planning (ERP) systems come into the picture for many organizations.
In fact, 96% of emerging businesses that are leaders in their industries use an ERP system, and 95% of companies saw an improvement in their business processes after implementing an ERP system,...
by David Singletary
As the country and world are trying to deal with recent COVID-19 pandemic, cybercriminals are taking advantage of people’s quest for information.
You’ve probably noticed a plethora of emails from every retailer, software company, or business you’ve dealt with in recent years. Cybercriminals see an excellent opportunity to slide in phishing scams amid all the information being sent your way.
The following are two examples:
By Paul Lembo
Food and beverage retailers recognize the cloud as an important digital resource for IT, security and internal and external communications. But when it comes to critical accounting services, many clients in this industry don’t think of cloud computing as an applicable solution.
Cloud computing is any hosted network services provided through the Internet and not housed on your own servers or mainframes. Accounting software can be delivered in the same way to help businesses...
Look for a diversified skill set when choosing a CFO
By Paul Ursich
Today’s CFOs need a firm grounding in accounting, financial reporting and tax planning as a starting point. They also need an understanding of computer software systems, a good working relationship with your company’s IT department and the ability to develop company strategies. An effective CFO must also be a smart manager and a team builder who can engage your controller and accounting department.