Robert Lavery - Realizing the promise of technology in business
Realizing The Promise ofTechnology in Business What Are You Thinking? ASYMA Customer Conference June 7, 2011 Robert Lavery Principal Robert Lavery & Associates
NO!!!The Era of Online Business Is Really Here!
The Era of Online Business is Here! Lavery’s Top 10 Reasons:10) You think that “progressing an action plan” and “calendarizing a project” are acceptable English phrases.9) You normally eat out of vending machines and at the most expensive restaurant in town within the same week.8) You refer to the tomatoes grown in your garden as deliverables.7) Your idea of being organized is multiple colored post-it notes.6) You email your Christmas list to your parents.
The Era of Online Business is Here! Lavery’s Top 10 Reasons:5) You think a half-day means leaving at 5:00.4) You lecture neighbourhood kids selling lemonade on ways to improve their process.3) You ask your friends to “think out of the box” when making Friday night plans.2) You know the people at the airport better than your next door neighbors.1) You find you really need PowerPoint to explain what you do for a living.
The Era of Online Business isHere!BONUS REASON:You are either over worked or unemployed!!
How Do We Know?Do you have an e-mail address?Has become:What is your e-mail address?
How Do We Know?Do you have a Web site?Has become:Can I purchase from your Web site?
How Do We Know?Google Generates $100,000 /Hr in RevenueBill Gates doesn’t want to be CEOKids want iPods or Blackberries for Xmas
The Era of Online Business IsHere!The Web is dramatically changing theway companies interact with: Customers Competitors Employees Vendors Suppliers
What is Online Business?“It’s not just E Commerce…it is nothing less than a holistic approach to running a business in the digital age”
What Do Online Businesses Do? Electronic File Transfer (EFT) Electronic Data Interchange Electronic Workflow (PW, eTS) Web Self Service (CRM) Electronic Commerce (Iciniti) Web Procurement (iPortal) Online Reporting & Analysis
Why Do They Do It? Sarbanes Oxley, OSC Bill 198, MI52-109 (Dec.31/06) (Multilateral Instrument 52-109 Certificate of Disclosure in Issuers’ Annual and Interim Filings) Cheque Fraud, Identity Theft, Anti-Terrorism Public Sector Bulletin 3150 ISO 9000, 9001, 9002, 9003, 900? 2011 – conversion from Cdn GAAP to International Financial Reporting Standards (IFRS) The Charities Directorate Corporate Governance just as important as Operational Efficiency when evaluating the benefits of systems
Fairmont Hotels & Resorts Toronto, ON 78-site world-wide implementation An Accpac Strategic Customer Goal: Manage Capital Projects efficiently & control costs Utilize Pacific Technology’s Purchasing Workflow, Funds Availability, Workflow Documents and Internal Issues to streamline & control procurement of materials and supplies Orchid’s EFT Processing to improve productivity in AP Norming Asset Accounting to keep track of capitalized costs for Hotels, Spas and Equipment
What Drives (Online) Business?RelationshipsPrinciplesProcesses
Business RelationshipsCustomersSuppliersEmployeesStrategic Partners
Business PrinciplesQuality Products/ServicesReliable DeliveryCompetitive PricingProfitable Model
Business ProcessesBuying Purchases and PaymentsSelling Sales and ReceivablesAsset Mgmt People & Capital
What makes it Online Business?“How you conduct business processes and the impact they have on the nature of your business relationships is what differentiates an ‘old’ economy business from the ‘new’ online business.”
YVR Airport Services North America’s leading global airport investment, management and development company Currently manage several airports in Canada, Bahamas, Chile, Cyprus, Dominican Republic, Turks & Caicos Islands Goal: Improve reporting, streamline entry and approval of time and expenses and intercompany transactions across 17 companies. An Accpac Strategic Customer Products: Sage Accpac ERP, PJC, Insight, HRMS Norming FA, eTimesheet, PT Audit Logger, PO Workflow, Orchid Inter Entity Transactions, EFT,
Integration is the key“An Online Business is one that strives to reduce process cycle time by eliminating human intervention wherever possible through the deployment of technology where it makes business sense to do so.”
Poor Use of New TechnologyNo Integration = No Access = Low Productivity
Businesses Recognize TheNeed IDC Report – IT Priorities for 20081) Streamline processes to provide single point of information.(5)2) Improve customer service.(4)3) Interoperability between business processes and technology. (7)REALITY – Only 30% have any BI
Customer Service/Lower Cost“A company with 5,000 employees and $650 million inannual sales, was able to handle 33% percent morecapacity with the same level staff, resulting in a 43%decrease in cost per customer contact” Forrester Research
Increasing Value of DataData Information Knowledge Wisdom (Formatted) (Trends) (Relevant)
Important Data ConceptsPrivacy – “use/disclosure” of dataSecurity – “protection” of dataConsistency – “processing” of dataReliability – “trust” in data
Focus on Internal ControlsNecessary to validate business transactions and reporting - BanksImpact on business valuationAs you increase controls you increase business valueConstraints are: ?
Focus on Internal Controls1) People Skills2) IT and software infrastructure3) Money $$
Questions to Think About1) Who am I? (roles & responsibilities)2) What do I want to be? (goals & objectives)3) How do I get there? (wise decisions)
Personal Application You must set goals and have a plan Write it down and review it My story (& Pictures) REMEMBER: Technology is only a tool in your hands It’s your ideas and inspiration that bring your goals to life
SummaryOnline Business is here and it’s realNatural evolution to new business processes based on new technologyImproves productivity and business valueRequires new relationships and changes to existing relationshipsPrinciples are still the same