It's not just about technology, it's all about responsibility
The technical aspect of different delivery methods described in theprevious blog postin this blog series of, is of course an essential part of the factors to consider when choosing the right ERP solution for your company. However, what is perhaps even more important to understand is the division of responsibilities between supplier and customer when it comes to the different options. There are major differences between the delivery methods, but there may also be differences within the specific method.
ERP Delivery methods from a responsibility perspective
Below Håkan Strömbeck(Senior Industry & Solution Strategy Director at Infor), describes the different ERP delivery methods from a responsibility perspective. The description is made from a general perspective for all option, except for the "multi-tenant" option which is described based on how things work at Infor.
Adaptability and quick turnarounds on strategy had never been more vital during a challenging decade for the restaurants and food services industry so far. The good news for many is that so many organizations rose to that challenge, with restaurant technology playing a singular role in helping them to continue to meet demand and to serve guests via multiple channels, specifically using advanced restaurant point of sale and integrations with mobile ordering.
As much as the industry landscape has been defined by challenges and disruption, it’s also allowed decision makers to consider how present conditions help to anticipate what the rest of the decade might look like. This has meant looking at the basics, the essentials for successful restaurants to best consider and the continuing role restaurant technology will play. Over the last few weeks, we’ve published several posts that explore these factors. Here’s a summary to consider.
The first major step in the journey toward adopting a new ERP system for your organization is assembling an effective project team. A well-appointed team can help you not only select the best possible ERP system suited to meet your organization’s needs but also mitigate employee resistance and secure leadership buy-in.
Assembling an all-star team for your ERP project is critical to your implementation success, so do not take these decisions lightly.
Mergers and acquisitions (M&A) bring numerous challenges across all departments. But IT teams are often charged with providing the underlying infrastructure that will allow the organizations to operate successfully under a new configuration. This is a big ask and typically occurs with little warning, and regardless of how much ongoing work exists in the day job.
There are plenty of factors that can further complicate this scenario, including when the company is acquired or merged is in a different country with unique reporting and regulatory requirements. While part of an important growth strategy for the organization, these moves can put tremendous pressure on already taxed IT staff.
Even when you do everything right, the unexpected can happen. Natural disasters strike, equipment fails, and human errors occurs. While steps were taken to mitigate risk, when disaster strikes, it’s still up to you and your team to race to recover, to ensure actions to get back online are taken correctly, and time is never on your side.
If your organization previously reviewed and dismissed the value of the cloud, it’s time to reevaluate. Decisions that seemed to make sense last year or even last quarter, likely look very different through today’s lens. This week, we focus on critical system failure and how unexpected outages can bring a company’s mission-critical operations to its knees.
Losses can be initially staggering and ultimately far-reaching, impacting not only revenue and productivity but also long-term brand value. It’s been estimated that the average cost of IT downtime is$5,600 per minute, with $140,000 per hour on the low end and as much as $540,000 per hour at the higher end. Absorbing the activities to resolve the issue itself and then putting in place actions across the organization to recover from the critical failure and its consequences can derail an organization for an extended period of time.
For many organizations, the realization that your go-to people, those who truly understand all the nuances in your enterprise ecosystem, are no longer there comes too late. Whether this loss comes through resignation, retirement, health issues, or merger and acquisition, you will need to find replacements. How can your organization ensure the continuity of day-to-day operations with the potential loss of technical expertise?
One of the ways to mitigate this risk is to accelerate cloud migration.
Many clients have shared with me that in today's challenging times, they need to focus on their core business and not worry about running IT systems. What would happen if your IT experts are no longer available?
Today, financial services organizations are more focused on what’s necessary to safeguard business continuity and solvency. Much of this begins with greater visibility and reliability of key data to help drive your critical business decisions, especially during critical market changes.
Our current blog series is reviewing cash and treasury best practices you can follow to prepare for instant payment changes and build true cash visibility. Last week we looked atunderstanding the impact of instant payments. In part two this week, we focus on generating cash positioning.
Consideration #2: Generate cash positioning
To satisfy both operational and regulatory requirements, financial services organizations need operating models for cash and liquidity management. To achieve and maintain this capability successfully, organizations need to focus on gaining greater visibility into their cash and liquidity.
Download the eBook Cash and treasury: Prepare for instant payments and build true cash visibility
Today, financial services organizations are more focused on what’s necessary to safeguard business continuity and solvency. Much of this begins with greater visibility and reliability of key data to help drive your critical business decisions, especially during critical market changes.
Whether you call it faster payments, immediate payments, instant payments, or fast money, real-time payments technology has gained a solid foothold in the payment processing world.
Additionally, to satisfy both operational and regulatory requirements, you need operating models for cash and liquidity management. To successfully achieve and maintain this capability organizations need to focus on gaining greater visibility into their cash and liquidity.
Download the eBook Cash and treasury: Prepare for instant payments and build true cash visibility
We have compiled a blog series that will focus on cash and treasury best practices you can follow to prepare for significant changes with instant payments and build true cash visibility. This week, we focus on the first consideration: understanding the impact of instant payments.
State governments want their software to be secure, compliant and designed for the 21stcentury. As such, many state governments are evaluating their current ERP platforms to determine how to modernize financials, procurement, human capital management, and payroll applications.
While some have pursued modernization by embarking on multi-tenant cloud journeys, most organizations are still in the planning phase.
They are moving in the right direction, though, as multi-tenant cloud SaaS software ensures applications are continually enhanced without the need for a multi-million-dollar, multi-year project. Multi-tenant cloud software also protects limited resources from overwhelming or menial tasks such as:
Are you able to monitor all intraday activity for true cash visibility?
Today, financial services organizations are more focused on what’s necessary to safeguard business continuity and solvency. Much of this begins with greater visibility and reliability of key data to help drive your critical business decisions, especially during critical market changes.
Our current blog series is reviewing cash and treasury best practices you can follow to prepare for instant payments and build true cash visibility. In the previous post, we reviewed best practices forenhancing cash and liquidity forecasting. This week, we focus on ways to establish intraday liquidity monitoring capabilities.
Banks and financial services organizations bound by intraday liquidity regulations have an opportunity to build a stronger competitive position.
According to consulting firmOliver Wyman: “Analysis indicates that a 25–50% reduction in intraday liquidity costs is well within reach. Further, banks will also stand to benefit from optimal efficiency, improved risk management, and timely decision-making around this scarce resource.” There are numerous financial and non-financial benefits, as well as new technological tools that simplify these complex treasury functions.
Download the eBook Cash and treasury: Prepare for instant payments and build true cash visibility
Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.
