Ventana Research recently announced its 2021 research agenda for the Office of Sales, continuing the guidance we’ve offered for nearly two decades to help organizations realize optimal value from applying technology to improve business outcomes. Chief sales and revenue officers are experts in their respective fields but may not have the guidance needed to employ technology effectively. As we look to 2021, we are focusing on the entire selling and buying journey and the applications that simplify interactions throughout the customer experience.
Topics: Sales, Analytics, Financial Performance, Internet of Things, Data, Sales Performance Management, Digital Technology, Digital Commerce, AI and Machine Learning, mobile computing, subscription management, extended reality, intelligent sales, partner management, Office of Sales, Machine Conversational Computing, Sales Engagement
For decades I’ve heard people talk about cutting audit costs to reduce administrative overhead but based on my observations, I was skeptical — mostly because, until recently, the documented success stories haven’t been about going from good to great so much as going from awful to average. That’s changing. I recently wrote about a company that had set out to cut its external auditor’s fees. The benefits it had accrued are significant, including a reduction in staff time devoted to the audit. I also explained why cutting audit fees wouldn’t be easily duplicated in every company.
Effective capital planning and capital investment are vital to a company’s long-term success. The choices a company makes in this regard – how much to invest and in which facilities or projects – almost always have a profound impact on its competitiveness and performance. Because they have limited financial resources, well-managed companies take pains to ensure that these decisions support their long-term strategies and are made as rationally as possible. To do this they must have a disciplined approach to assigning priorities to capital investments within the context of the company’s specific strategy and objectives, as well as the ability to easily identify and eliminate unnecessary projects or excessive spending. And since business environments are dynamic, companies must also continually review their investment portfolios to assess their performance to plan and their strategic value while they also consider new investments to support and expand the existing long-term portfolio.
Like many other industry observers I’ve heard overblown claims for information technology for decades. However, I’ve also observed that – eventually – reality catches up with vision. Finance and accounting departments are particularly resistant to change, yet because almost no corporations use adding machines or typewriters any more, it’s clear that transformative change can happen. Nonetheless, because users of business computing systems are inundated with “it’s better than ever” promotions by vendors, journalists and industry analysts, may have grown jaded and disbelieving. In the case of ERP systems that help run many organizations, that is too bad because we are finally at the point of a fundamental change in this business-critical software category.
Topics: Social Media, Supply Chain Performance, Human Capital, Mobile Technology, Office of Finance, Operational Performance, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Financial Performance
Ventana Research coined the term “enterprise spreadsheet” in 2004 to describe a variety of software applications that add a desktop spreadsheet’s user interface (usually that of Microsoft Excel) to components that address the issues that arise when desktop spreadsheets are used in repetitive, collaborative enterprise processes. Enterprise spreadsheets are designed to provide the best of both worlds in that they offer the ease of use and flexibility of desktop spreadsheets while overcoming their defects – chiefly inability to maintain data integrity, lack of referential integrity and dimensionality, absence of workflow and process controls, limited security and access controls as well as poor auditability. All of these issues can cause serious problems for business use, which I’ll discuss below.
Topics: Sales Performance, Supply Chain Performance, Office of Finance, Customer Performance, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, Information Management, Financial Performance Management (FPM)