Michael Fauscette, Group VP, Software Business Solutions, IDC
Project-Based ERP is really about a bunch of pieces of the business being put together in a cohesive manner. It’s an integrated system with the ability to manage your business and cash flow while allocating resources more effectively. It allows us to win the right projects and deliver the business as promised. It allows us to bill correctly and build an ongoing relationship with our customers so I understand them better.
Project-based ERP allows to us to optimize all those key metrics and Key Performance Indicators (KPIs) that I was never able to track before. I can benchmark myself against other firms. I can understand what’s acceptable and what’s not. I can take action early on if my projects are off course. If my portfolio is not balanced, if I don’t have the right resources or if I have people that aren’t utilized, I can fix it.
My system gives me the capability to proactively manage my business versus react to things that have already happened. If I don’t have all my systems put together I can never put all the data together to make the right decision for my business.
What does it mean to have visibility, insight and control at your consulting firm? It means one really simple thing; I can optimize my profit.
How do I do that? Well if I have the capability to view resource utilization, the capability to view the project holistically, and the capability to win the right project bid successfully then I can use the visibility to consistently drive my firm’s profitability. On the back end I can use the visibility to plan the business more effectively. In this business it isn’t about closing a bunch of projects, it’s about closing the right project.
I’m not really surprised when I hear that statistic. It’s pretty common that firms have grown up with systems that have pieced together over the years. Really this is true of most small and medium-sized businesses. Maybe they started out with a really small accounting package and then they add in some kind of project management functionality or maybe their project managers brought in another tool they liked. The truth is that disparate systems just makes visibility into your business impossible.
It’s more than just having a system in place; it’s about have the right system that integrates with my other systems. With a fully integrated system you eliminate data silos giving you the ability to manage projects throughout their entire lifecycle. You have control over everything from the time the opportunity was first realized all the way through managing the project and until you win your next project. You have the capability to manage the whole customer lifecycle with ease.
I have a better ability to provide a customer experience that keeps customers wanting to stay engaged and work with our firm. It’s much cheaper to keep a customer than it is to win a customer, and that’s where we see real value.
About IDC
The International Data Corporation (IDC) is a market research, analysis and advisory firm that specializes in information technology, telecommunications, and consumer technology.
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