Your Full-Service Accounting + Business Growth Advisory Partner

Tag: Maximizing Your Organization’s IT Investments

Part 7: Keeping Your Industry Front and Center

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...

Continue reading

Part 6: Thinking Big, Starting Small: The Power of Being Agile

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...

Continue reading

Part 5: Invest in Change Management

By Luis Vargas Once you lay out the specific aspects of the investment—which initiative to prioritize, how to measure success, who will lead the project and how much customization is needed—you can shift focus to your employees and your strategy for guiding them through the future change. Managing change throughout the lifecycle of your initiative will be critical to creating a culture of innovation and securing ROI. There are five phases of change management—as you strategize how...

Continue reading

Part 4: Carefully Consider Customization

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...

Continue reading

Part 3: Find Your Innovation Champion

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. But how? 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...

Continue reading

Part 2: Measuring Success – Understanding the Project’s Key Variables

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...

Continue reading

Part 1: Maximizing Your Organization’s IT Investments

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...

Continue reading

Copyright 2022, Wiss & Company, LLP Accountants & Consultants. All rights reserved.