by Sophia Riley | Apr 20, 2023 | Change Management
Organizational change is necessary for businesses to grow and stay successful. However, it may also prove extremely difficult if there is no plan to direct the transformation activities.
Businesses need to have a change management strategy when implementing digital transformation strategies. We have an in-depth reading on utilizing software for the initiatives and explain why the approach should be a component of every project aimed at digital transformation.
It is a shock that enterprises do not prioritize training in their change management, meaning that the digital transformation project will likely fail. We will look at the phases of utilizing tried-and-tested software methodology and their benefits to ensure success and businesses get returns on their investments.
What is change management?
Change Management is a systematic process of altering business operations to adapt to a changing environment that concentrates on the people aspect of corporate reforms. The approach utilizes consumer-specific tools and training to achieve particular objectives, which can be crucial to practical implementation. Effective change management engages, educates, and empowers end-users through every phase of the transformation journey. We must consider change management as our efforts to assist someone with limited digital skills when they receive a new smartphone.
When teaching them how to use the features, we take them through them to ensure they are comfortable doing things like sending text or e-mails, browsing, and, most importantly, where to access the settings menu.
When properly planned and implemented, change management for digital transformation may produce beneficial adjustments in business processes that a firm seeks to achieve.
Businesses can migrate to cloud-based systems if they find handling data they encounter in daily operations challenging. Investing in present-day tools and systems, such as CRM ERP and Data Analytics, among other business management applications, is necessary.
Some people think the deployment is the problematic part of its implementation, but that is only the beginning.
The digital transformation process is complex, with numerous requirements, and it would help to have a change management plan. It should consider technology and how it affects processes or influence human resource.
The digital transformation lifecycle won’t end until all users have adopted the technology and staff members feel educated, involved, and empowered. Probably you are wondering how to achieve the feat.
The secret to achieving complete user acceptance is to assist staff in seeing the advantages and value of their everyday duties. It can remove time-consuming tasks or provide workers with additional resources to work more effectively. It is not the responsibility of the staff or the tools directly for a disastrous implementation; instead, it is down to the training and support. Equipping personnel with knowledge of digital tools or business management software after adopting new technology is necessary, regardless of their technical proficiency.
4 Tips to Accelerate Change Management
Concentrating on the present and future environments while developing the strategy to guarantee that a Change Management plan adds value and produces outcomes is crucial. It provides a solid basis for dealing with change and contributes to the company’s general transformation.
Besides utilizing specialists in the project, let us examine other key areas that will impact the results:
- Clear and Focused Information Sharing
Before beginning any transformative journey, it is essential to establish the company, workflows, and those affected as stakeholders.
Since change management is necessary for long-term business success, it is critical to have all details about its implementation, like determining the impacted users and the value of transformation to operations using a persona mapping exercise.
Experts try to identify ways to provide the project participants and the impacted users with the correct details at the appropriate time. It ensures businesses are guiding people through the change process and providing a clear understanding of what is happening, its benefits and why it matters.
- Making a Change Plan That Is Realistic and Sustainable
It is critical to present the objectives and benefits of a project early on through an expert’s assistance. Often, when a customer undergoes a digital transformation, they are under budget and timeline constraints, making change management secondary to the task at hand.
But it’s unnecessary as the implementation team may collaborate with those affected to develop and implement a practical and realistic change strategy.
The move will have the most value and influence on the business’s goals to accomplish its objectives. Recognizing and integrating the customer’s corporate culture in the present environment develops or highlights an actionable change model that won’t look impossible or unreachable. Creating ideal procedures to implement change without deceiving or exhausting people is necessary to achieve transformational growth.
- Choosing Key Performance Indicators for the Project to Measure Success
Setting up an achievable goal for the expected outcome before, throughout, and following the project implementation is essential when partnering with an expert. KPIs help keep teams responsible and the company on track with the objectives.
User acceptance is probably the most crucial factor concerning change management. It guarantees the project is finished on time and within the price range.
- Fostering positive outcomes for end users.
Any change endeavor must have an effective managerial presence that works hand in hand with the team overseeing a change in the business environment. It helps ensure that the appropriate people cooperate and advance the shared vision, goals, and results.
Every team should work together to advance the reform’s goal and purpose. Including the appropriate individuals will help raise awareness and assist teams in embracing technology or a new method of operation.
A new platform will be more effective for all parties the quicker people see its benefits, as users are more likely to support a course if they perceive its advantages.
For affected stakeholders, training and communication are a priority for the project’s success. Additionally, robust quantifiable KPIs help know which employees to retain, engage and include in the transformational journey.
Summary
Our Change Management methodology and consultancy services support businesses undertaking worldwide planning and execution projects. We thoroughly examine all development and deployment phases to ensure workers understand the importance of change.
by Sophia Riley | Apr 18, 2023 | ERP
The preparation, configuration, customization, and deployment of an ERP system affect all areas of any organization, including production, human resources, supply chain and finance.
It is vital to consult the key stakeholders when implementing ERP systems and other digital tools to prepare the organization for the changes. Several elements influence the plan for an enterprise resource planning software deployment and timeline for implementation. Here are some factors to help decide which approach is best for enterprises across industries;
- Size of the business
- Number of outlets
- The complexity of company procedures
- Number of third-party programs
- Number of personnel
- Industry type and organizational structure
- Personalization
- Master and transactional data transfer
ERP installations can take a few months to years, depending on the chosen implementation strategy and the nature of business operations. The success relies on selecting the best ERP partners, creating an extensively researched project strategy, and appropriate resource allocations, irrespective of the completion date.
Every ERP deployment has three key pillars:
- Technology
- Process
- People
Most ERP installation failures result from poor resource management, planning, and risk management. Malfunctions can disrupt crucial business operations, which may overpower an IT team’s capacity for evaluating risks and making effective change management.
An awareness of the linkages between the three key pillars involved will determine ERP integration.
The implementation tactics are essential for effective ERP deployments.
You can choose from tested methods for switching or upgrading enterprise resource planning (ERP) platforms: each has its pros and cons.
The outcome hinge on the stakeholders’ collaboration toward a common objective and desire for corporate success.
Let us look at four implementation techniques:
- Big Bang strategy
The ERP implementation strategy entails a company transitioning from its current outdated system to a revolutionary alternative all at once. The big-bang technique could lower the expenses of integration and involve a simultaneous transition to a new framework for everything.
A business sets a date for switching to the new system and must finish all integration work before going live. It includes system configuration, data organization, personnel training, and setup tasks. The big-bang method demands numerous resources to help with the transition, making businesses in some sectors hesitant to employ it.
Advantages
- Reduced installation timeframe
- Compared to alternative deployment strategies, it is a cheaper option.
- The roll-out occurs according to a scheduled go-live date,
- Users undergo training before the ERP system integration completion.
Disadvantages
- With the haste to modify the entire operation, it is easy to miss some details.
- Employees must familiarize themselves with the new system before the planned deployment date.
- Falling back to a previous system is not an option.
- A breakdown in one region might impact other parts of the system.
- Performance may decline upon deployment.
- Phased roll-out strategy:
In this method, the ERP system’s components deployment is one at a time, progressively substituting the previous system. For instance, a business with many locations may implement an updated ERP solution one place at a time.
The phased roll-out strategy has a negligible effect on the firm. Its primary benefit is providing users additional time to learn and adapt to a new system. It allows for gradually replacing outdated systems instead of a total overhaul. Depending on business units, system components, and geographical locations, it would help evaluate each deployment phase.
Advantages
- Insights the team learns during the initial phases are advantageous to future phased roll-outs.
- There is enough time for changes to the scheduled roll-out.
- Users have a longer duration to accustom themselves to the new system. The project implementation team practice practices the approach in preparation for later roll-out stages
- It is a systematic implementation strategy
- It has a lower risk.
Cons
- It involves continuous change across a longer time frame
- If necessary, returning to the past system becomes more challenging.
- Management must find solutions to problems during the implementation to enable the roll-out.
- Personnel experience work-related tiredness
- has an extended deployment period
- It delays system integration for the entire business process.
- Possibility of increased integration complexity
- Interface software would require more technological resources.
- The parallel adoption strategy
Involves running the older system with the newly installed one side by side for a period after the ERP deployment. The duration of both operating concurrently might be anywhere from a day up to weeks or a few months.
The Parallel adoption method has the benefit of offering an insurance policy if anything goes amiss. Business processes won’t be affected if the recently installed ERP system malfunctions. This method provides statistical comparisons which help verify that the new ERP system is carrying out the required functions. This approach works best in extremely important circumstances that cannot withstand a significant ERP system failure.
Advantages
- Reduces migration and data integrity problems
- The risk is medium.
- Helps consumers feel more confident using the new system
Disadvantages
- Data double-keying requires a lot of manual effort.
- More potential for error
- Increased likelihood of higher costs
- Hybrid Adoption Approach:
The method incorporates the three previous approaches: phased, big bang, and parallel implementation strategies.
Several hybrid tactics are used based on the business’s type and scale. Small to medium-sized businesses with limited locations often employ straightforward hybrid deployment tactics, but large companies may need more intricate deployment strategies for a successful ERP system integration.
Advantages
- Enhanced ERP implementation controls
- Medium risk
Disadvantages
- Execution is expensive
- A lengthy process
- It may jeopardize the complete integration outcome.
Tips for ERP Integration Strategies
The method of ERP adoption can be long; therefore, choosing the best technique is essential. All stakeholders will see a significant improvement in the business operations, ensuring a return on investment.
It is easier and faster to complete the process if you develop standard procedures in the industry. Most importantly, partner with an established and reputable firm for implementation.
A clear ERP implementation plan and communication method are critical for the project’s success. By doing so, the migration to advanced technologies will head in the correct direction and cut implementation expenses.
An ERP specialist will help you identify your unique system requirements and aid with customization to your company’s needs. They assist in identifying crucial features for company growth and guarantee ultimate system performance.
by Sophia Riley | Apr 16, 2023 | News
by Sophia Riley | Apr 16, 2023 | News
[vc_row][vc_column][vc_single_image image=”4322″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]oAppsNet® is excited to participate at #OracleCloudWorld2023 an official exhibitor. Come by booth #88.
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[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][sc_list]
- oAppsNET P2P & S2S Transformation Platform
- Mobile Applications
- Artificial Intelligence
- Content Mangement
- Accounts Payable Automation
- Sales Order Automation
- Content Management
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by Sophia Riley | Apr 13, 2023 | Accounts Payable
Like every other aspect of running a business, the accounts payable system is subject to some degree of risk associated with it. Indeed, business-to-business (B2B) transactions that are deceitful or completely unnecessary can result from unknown financial territory, defective records, or other types of anomalies of a similar nature. It is common knowledge that making fraudulent or needless business-to-business payments can have a detrimental effect on a company’s finances, which can sometimes be quite severe.
There will always be some degree of risk associated with running a business. While this is a reality that we have no choice but to accept, some metrics can be utilized to reduce the extent of this risk.
One of these metrics that you may utilize to maintain the safety and security of your company is the accounts payable risk and control matrix. But what are accounts payable risk and control matrix, and how can it help your business? Let’s find out.
What is a payable risk and control matrix?
The accounts payable risk and control matrix is a tool utilized to help businesses reduce the amount of risk they are exposed to as a direct result of their account payables. While it is recommended that organizations be flexible and responsive to changing conditions, it is also a good idea for them to have some sort of risk control matrix. An AP risk and control matrix lays out the many control objectives that must be taken into consideration by businesses. If these controls are not checked regularly, there is a possibility that the company’s risk protection controls will become compromised.
Why your business needs accounts payable risk and control matrix
As a business owner, if your business still lacks an accounts payable risk and control matrix, you might be wondering if it’s really necessary. But the truth of the matter is that this tool is very crucial. Here are some of the reasons why your business needs it:
- Protect against the inherent risks in accounts payable
Processing a significant number of invoices is a consistent requirement for businesses. The accounts payable departments receive many invoices daily, which they must compare to the corresponding purchase orders and pay. There are various ways in which this process might go awry, particularly when your accounting is done manually. This is the kind of labor that carries with it a certain amount of natural danger.
Investopedia describes inherent risk as “the likelihood of erroneous or misleading information in accounting statements originating from something other than the failure of controls.” In other words, inherent risk is not caused by a failure of controls.
Fundamentally, inherent risk results from either a lack of knowledge or errors brought on by unexpected or complicated computations. Thankfully, accounts payable risks and a control matrix can help protect your business from such inherent risks.
- Control prevalence of residual risks
Even when corporations exercise a reasonable amount of prudence and perform rigorous accounting, there is still a possibility of risk. This type of risk is referred to as residual risk, and Compliance Week defines it as “the exposure that remains after you’ve examined the existing controls.”
Residual risk is a type of risk that arises when a company has taken some steps to handle a potential problem but, in one way or another, hasn’t dealt with the issue completely. Residual risk is also referred to as audit risk. It’s the same as when a firm replaces the servers for its internal accounting network but fails to invest in off-site data backups in case of a natural disaster. In that case, the company risks losing all of its financial data.
In addition, negligence is not a necessary condition for there to be a residual risk. Some risks, like inherent risks will likely continue to exist no matter what a corporation does or does not do. Accepting a certain level of risk is one of the ways to run a successful business.
The important thing is to cut down on any inherent or residual risks as much as possible. A risk and control matrix for accounts payable is an excellent tool for accomplishing this goal.
How to build your accounts payable risk and control matrix
Now that you understand what an accounts payable risk and control matrix is and why your business needs it let’s see how you can create matrices to curb the risks mentioned above.
Creating an inherent risk matrix
Because the level of residual risk is decided by the level of inherent risk that has been tabulated, it makes perfect sense to calculate the level of inherent risk before attempting to grasp the concept of residual risk.
An inherent risk matrix takes a form of a chart. Use a scale that measures potential hazards’ impact on the X-axis. The least risky options should be at the beginning of the axis, and the riskier options should be further along the axis.
For the Y-axis, the scale must indicate the frequency with which the risk occurs, beginning with “Rare” and progressing to increasingly frequent occurrences as the chart continues.
Creating a residual risk matrix
After creating an inherent risk matrix, it is possible to use it to generate a residual risk matrix. Place a scale proportional to the estimated effectiveness of whatever control mechanism your team has designed somewhere along the Y-axis. The scale should begin with a strong value at the bottom and progressively weaken as the Y-axis moves higher. Create, along the X-axis, a scale that ranges from the smallest possible to the largest possible calculated inherent risk.
A residual risk matrix does not need a predetermined number of squares, just like an inherent risk matrix does not have a predetermined number of squares. For consistency and comparability, it is wise to utilize the same number of squares in a residual risk matrix as whatever you’ve selected with your inherent risk matrix. Using the same number of squares in both matrices will ensure that your results are comparable.
