Why Strategy Execution Software Is Necessary For Major Organisations
November 5, 2019
WHY STRATEGY EXECUTION SOFTWARE IS NECESSARY FOR MAJOR ORGANIZATIONS
The problem with Strategy Design
Strategy can make or break an organization. Executing strategy in the digital age requires strategy planning tools that connect the shared objectives of business strategists and the CXO, with those responsible for executing the change. Without the correct tools enterprise companies can find themselves relying heavily on specialized consultants to provide focus, direction, and strategy design to ensure that operational priorities do not overwhelm strategic imperatives. Or perhaps they invest substantial resources, time and energy into developing the perfect strategy, only to see it quickly unravel in the execution phase. With the rapid emergence of disruptive digital technologies combined with short times to market, strategic plans intended to last 5-7 years, make little or no sense after 1-2 years. All of this leaves companies no better off, out of pocket, disempowered, and locked into a self-perpetuating cycle! Strategy execution software, such as the Amplify™ platform, solves this problem as it provides a well-honed internal capability enabling organizations to translate strategy design into successful strategy execution.
Amplify™ powers the Strategic PMO
Amplify™ empowers those responsible for leading and directing strategic initiatives, including, Enterprise and Next-Generation PMOs, to optimize investment in a portfolio of change initiatives. Organizations are increasingly looking to their PMOs to turn strategy into reality, with the PMO fulfilling a pivotal investment management function. With a survey finding that 80% of organizations reported having undertaken a significant transformation using disruptive technology, but only 25% of those initiatives yielded tangible benefits against their goals, it’s time to bridge the gap. (Forging the Future, PMI 2019) Cue the Strategic PMO, equipped with Amplify™ strategy execution software. Read on for 5 reasons why Amplify™ industry-leading software is a must-have for major companies and corporations.
#1 Ease of use by Senior Management
One key differentiator of Amplify™ is that both senior management and their direct reports are comfortable using the platform with its easy-to-use and intuitive interface. The software does not require massive amounts of data entry or process compliance to provide value and actionable insights as data can be integrated or entered in the system as an integral part of the working day. In addition, dynamic and attractive visualization of key relationships supports consistent interpretation by senior management.
#2 Formal Scenario Planning
Since strategy execution is always designed to optimise an uncertain future, adopting a technique like scenario planning becomes imperative to avoid restarting the discussion on assumptions every time the future requires re-examination of strategic plans. Once you have formulated your business strategy, Amplify™ helps you to plan the ‘how, when, where and who’ of initiative delivery, enabling you to be clear about where your organization is going and why. With Amplify™ you'll be able to assess multiple strategic options through the creation and comparison of scenarios and adopt a winning portfolio of initiatives, enabling you to optimize return on investment (ROI) and Net Present Value (NPV).
#3 Dynamic Portfolio Management
Strategy execution management (SEM) tools must be able to dynamically model various alternative courses of action or plans based on changes in critical assumptions. Upcoming and in-flight investments can also be re-prioritized to ensure they continue to represent good value for money. Amplify™ simplifies prioritizing your portfolio with its ability to select, prioritize and sequence initiatives based on return on investment (ROI), net present value (NPV) and overall contribution to the investment portfolio. Using built-in multi-criteria analysis and repeating the process regularly as part of a business planning cycle, or more frequently if necessary, Amplify™ helps you to select the most economically and socially viable collection of initiatives possible. Amplify™ dashboards are used to analyze portfolios, communicate trade-offs and finalize investment decisions, providing valuable insight which can be put to good use. When negative variance from plan occurs, simply drill down to inspect child-initiatives, discover the underlying cause and take appropriate corrective action.
#4 Programme Management
Programme management is not just large project management. Programme management is how strategy actually gets done, and the tools to support it should be deliverable, rather than task focused. Amplify™ strategic planning software has deep capabilities in managing the interdependencies between various tactical components of the strategy.
Amplify™ offers the ability to track multiple forms of work, in a flexible manner. It’s possible for the more detailed activities around work or project to be managed on-platform, or separately within divisional work management or project management systems. Amplify™ integrates with other systems using built-in APIs, data exchange through the import and export of Excel files, and synchronization with scheduling software.
#5 Flexible definition of unit of investment
Our customers and clients are using Amplify™ strategy execution software for a diverse range of investments including transformation programmes; strategic programmes; mergers and acquisitions; initiatives; products; services; capabilities and markets. Specific use cases include:
Undergoing major transformations to support new, competitive advantages in digital business
Wresting with major modernization efforts and keeping an eye on the impact to their business strategies
Balancing work efforts against fast-moving change in their market and/or the solutions that underpin their business model
Deciding to commit resources to making clear links among plans, in-flight projects and existing assets relative to their strategy and metrics
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Amplify™ industry-leading platform, provided by Amplify-Now, enables our clients to execute strategies which consistently create value for their customers and investors. Try AMPLIFY™ today to discover how we can help you to achieve your goals, priorities and boost your business impact.