In today’s economic conditions, every decision you make needs to show that your organization maximizes its investment dollars—and implementing the right technology platforms is essential for growing business while running lean. But through this process, a key component is too often overlooked: benefits realization.
It's deceptively easy to make a major investment in technology and then take a set-it-and-forget-it mentality. After making the business case for tech, the focus on delivery supersedes benefit management and realization. Then, looking back, no one can quite articulate what value was delivered, or whether it was.
Clarifying benefits—both those you aim to deliver and those you actually realize—is crucial because it sets the standard for success or failure. Without this, technology investments are moot, ultimately impeding future investment.
Deliver once, measure twice (before and after implementation)
Align benefits with strategy –> Benchmark the beginning –> Capture the after –> Turn data into dollars
The best way to build trust is to show you achieved your intended benefits. Organizations and teams that document a baseline—the current situation before implementation—can show the leaps they made in value post-delivery. The numbers they capture crisply articulate an initiative’s impact. Then, they can turn that data into renewed investment because they earned trust with proof of success.
Benefits realization by the numbers
These organizations aligned benefits with strategy, then captured metrics before and after delivery, to convey success.
Where to begin: Do the right things, and do them right
To get the most out of its resources, your organization needs to answer two questions before considering how to deliver benefits:
Get the most out of your tech investment
Your technology platform should do more than merely manage your portfolio. It needs to help you assess whether you are realizing the desired benefits. Pairing Deloitte’s experience with Strategic Portfolio Management (SPM) from ServiceNow helps businesses answer the right questions accurately and fully to drive outcomes including:
By the numbers: A firsthand example
ServiceNow leaders themselves grappled with these questions when they needed to manage their own IT portfolio effectively. Before implementing SPM to digitalize their portfolio, they took stock of the inefficiencies. After, they could point to these realized benefits:
Communicate value –> gain capital commitment
Investment in your business requires investment in the technology that powers it. But without strategic alignment and assessment, your organization is leaving value on the table. In today’s economic conditions, that waste makes or breaks businesses.