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Harness tech to help achieve success and secure investment

A guide to identifying and realising business benefits

In today’s economic conditions, every decision you make needs to show that your organisation maximises 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 realisation.

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 realisation. 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 realise—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. Organisations 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 realisation by the numbers

These organisations aligned benefits with strategy, then captured metrics before and after delivery, to convey success.

To support staff in helping rehabilitate 38,000 prisoners and offenders, Corrections planned to implement initiatives such as automated HR processes to drive efficiency and free staff from HR burdens. Following this approach, they could demonstrate their programme’s efficacy:

  • 200% productivity increase in a target area
  • 10,000+ projected administrative hours saved in a year

Read the full case study here.

To sidestep labour shortages, the financial institution aimed to meet employee expectations for a simple, seamless user experience for HR interface with an infrastructure overhaul. After implementation, they could clearly show:

  • 30% monthly growth rate in chatbot usage
  • 49% increase in average monthly views of a tool that shares company information
  • 12% to 15% cost reduction

Read the full case study here.

Where to begin: Do the right things and do them right

To get the most out of its resources, your organisation needs to answer two questions before considering how to deliver benefits:

In essence, this question asks: Is the initiative you want funding for actually going to deliver the benefits it promises? And are those benefits aligned to your business strategy and desired outcomes?

To answer this, organisations should first benchmark and assess the value and benefits currently being delivered. Inherent in this process: a crystal-clear view of your organisation’s strategy. (Be sure to avoid the common pitfall in which the loudest voice in the room steers the discussion by using a prioritisation framework that standardises decision-making and removes bias from the process.)

After pinpointing the right benefits, you can leverage your tech to surface the right information and measure benefit realisation—cutting time and adding clarity with workflow automation. From there, your tech platform shores up decision-making to drive better outcomes. This upward spiral can accelerates outcomes and efficiency, propelling better decision-making overall.

Once your workforce has begun to focus on delivery, you need to ensure your resources are driving outcomes. Now, your organisation can harness its investment in tech to surface and analyse the right data to find and fund the projects that marry strategy and results.

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 realising 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:

  1. Aligning your strategy to the work. SPM allows you to see the connections between strategy and delivery for each project—and helps you close the gaps. You can define, roadmap and iterate your strategy, all while keeping value in view; visualise strategy, targets and updates to maintain a benefits focus; and make decisions with confidence because you know your organisation is meeting objectives.
  2. Aligning investments. SPM is designed to empowers you to respond swiftly and skillfully to change or to make changes. In SPM, you can identify, prioritise and schedule the right work according to what is important in your strategy now, not last year. Your business can model potential shifts within the tool rather than manually to avoid time-consuming tasks that can lead to ineffective decisions and suboptimal outcomes.
  3. Delivering value quickly. Position teams to deliver the right way, irrespective of methodology—and ensure every person is working to deliver on strategic goals. You can then track and manage their progress in the tool.

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 digitalise their portfolio, they took stock of the inefficiencies. After, they could point to these realised benefits:

  • 15,000 hours saved annually
  • 60% reduction in average time to screen and approve projects
  • 20% faster time-to-value between project approval and delivery

Communicate value –> gain capital commitment

Investment in your business requires investment in the technology that powers it. But without strategic alignment and assessment, your organisation is leaving value on the table. In today’s economic conditions, that waste makes or breaks businesses.

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