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Understanding Business Technology
It is beyond dispute, that technology has revolutionised the way we do business. Understanding business technology is essential if executives want to maximise their potential – and avoid the many pitfalls - -
CONTENTS
Introduction
The interplay between technology and business has never been stronger or more important, both in terms of how it is reshaping the way business is conducted and how management does its job. Alan Cane, senior technology correspondent, looks at the evolution the relationship between technology and business
Related content and features
Financial Management
Financial Management
Finanancial management is about much more than bean counting. In an increasingly competitive world, they help determine the strategic direction of a company. Technology is a key enabler in that process
Case study: Barts and The London NHS Trust
A London hospital trust is using a financial management software package to improve efficiency
Location, location, location
The growth of the globalised economies is forcing companies to rethink how the manage their financial processes and systems. Expanding their local operations is one solution
Case study: Inchape
Revamping its financial management system is enabling one company to focus on the key drivers of financial performance
Finding the right supplier
The emergence of a single, one-size-fits-all financial management package still seems a long way off
Case study: Interface
A global company confronts software and hardware issues in implementing a financial management package
People issues
As companies implement financial management systems, they must also consider the organisational changes required, too
Putting the finance function at the heart of business
Performance management processes put the finance function at the heart of business strategy and offer tools to enable effective measurement
In-house or outsource?
The growth of software as a service (SaaS) is changing how companies approach financial management system implementation
Supply Chain Management
Supply Chain Management
Since the birth of commerce, supply chains have been essential to business. In the age of globalisation, where suppliers are increasingly spread across the world, technology is the key enabler that ensure companies can manage their systems effectively
Case study: Panasonic Consumer Electronics
A leading electronics manufacturer uses supply chain technology to improve its customer service and increase its financial returns
Case study: Canon Europe
The imaging business has used supply chain management technology to move from multiple systems to a standard process
Case study: Ace Fixings
Supply chain managment vendors are targetting small and medium-sized businesses, too
Tag to track
The technology behind RFID tags has finally come of age. For supply chain management, the potential benefits to reduce costs and improve efficiency are difficult to ignore
Case study: FedEx
For one of the world’s biggest logistics and transportation groups, the challenges of maintaining a complex supply chain rely on technology
Big business or best of breed?
The big software companies have improved their supply chain management packages but the specialist providers argue are working hard to maintain their market position
Case study: Whitbread
By modernising a key part of its supply chain, the UK leisure group has been able to cut costs and improve efficiency
The people matter
Any system that introduces automated processes needs to take into account the role of employees in ensuring technology works properly
A difficult decision
The decision of whether to set up an in-house supply chain management system or to outsource it to a specialist partner is a difficult one. Each solution has its advantages, so identifying the right solution depends on the specific needs of your company
Human Capital Management
Human Capital Management
Every company relies on its people. But for businesses to benefit from the knowledge and skills of their staff, they need to institute processes and systems that nurture and develop employees, they must institute processes and systems that align human resources practices with a company’s wider strategy. Technology can help
Buyer beware
When it comes to choosing a human capital management system, there is ample choice between the big software providers and smaller, specialist companies
Outsourcing is no panacea
Outsourcing the human capital management function needs to be carefully thought out before implementation
Just rewards
Companies are increasingly using technology to better understand the compensation needs of their employees
Getting the right talent
Talent management relies on technology to make the most of employee skills and knowledge
The bottom line
The business case for HCM depends on organisations viewing their employees as profit centres rather than costs
A much-needed partner
For HCM to become part of the overall business, companies need to instigate wider organisational changes that recognise the value employees bring
Case study: Sodexho
For the food and management services company, outsourcing the human capital management function was not the solution
Case study: Seagate
A leading innovator and manufacturer of digital storage technology is using performance management software to make sure key staff are working towards a shared vision and track employee development
Case study: Royal Bank of Scotland
For one of the world’s largest financial institutions, human capital management is a tool to improve shareholder returns and create competitive advantage
CRM
CRM
After failing to live up to expectations, CRM is making a comeback. But to maximise the impact of such systems, companies need to realise that CRM is about much more than technology alone and implement organisational changes, too
More than technology
Any CRM system is about more than technology. To achieve success, companies need to ensure that employees understand how to use such systems effectively
Finding a technology partner
Software as a service (SaaS) is transforming the CRM offerings of major vendors and smaller CRM specialists alike
Opening up the conversation
Collaborative technologies, such as the internet, blogging and social network forums, have changed how customers interact with companies. Is customer relationship management being replaced by customer-managed relationships?
Using technology to understand the customer
Technology is the backbone of the new approach to customer relationship management. But companies need to focus on integrating the data they collect with analytical CRM systems that can use the information
The business case
The business value of CRM is about more than cutting costs and businesses need to take a broader view that measures how the relationship with a customer can be improved
Valuing the loyal customer
CRM is about more than simply maximising the number of customers. it is also about identifying the most valuable and loyal customers and effectively managing these relationships
Organisational change
Organisations must address organisational and cultural issues if they are to reap the full benefits of CRM
The host with the most
For many businesses, hosting a CRM program on an external supplier’s systems and accessing them via the internet is an appealing option. But buyers need to realise that the hosted software will not mask deeper technology problems within an organisation
Case study: Public sector CRM
For one English council, CRM has improved its ability to provide essential services and save money
