Business has been getting smarter about using technology for analyzing processes and optimizing outcomes, but still has much room for improvement when it comes to operational management. Traditional project management has advanced to encompass financial and operational planning, including prioritization toward goals and expected outcomes, creating the concept of portfolio management. In essence, optimizing the use of people and processes associated with products and services along with supporting technology is what portfolio management is all about. Unfortunately, many organizations that use personal productivity tools do not realize that email, presentations and spreadsheets are not efficient or effective tools for these purposes compared to adopting applications designed for them.
Topics: Analytics, Business Analytics, Business Intelligence, Business Performance, CFO, CIO, Cloud Computing, Customer & Contact Center, Financial Performance, IT Performance, Operational Performance, Portfolio Management, Sales Performance, Supply Chain Performance, Workforce Performance
I was reminded by a recent piece in InformationWeek about the need to manage the mounting cost of software more carefully that this issue never seems to become old news. I have read variations of it in IT trade publications for two decades now, reminding me of the quip attributed to Mark Twain: Everyone talks about the weather, but nobody ever seems to do anything about it. (Like many of Twain’s “quotes,” he wasn’t the author of this one either.) I believe that at the heart of this issue is a lack of oversight on software contracts, at the time of signing and especially in subsequent billings. Some companies don’t let these costs get out of hand because they have defined processes and responsibilities for managing them. The careless ones are fodder for the aforementioned articles, while the rest are somewhere in between.