A recent article by the Corporate Executive Board (CEB), a research and advisory firm to leading organizations, stated that many companies in the Financial Services (FS) industry are increasing their investments in IT solutions, despite the volatile market conditions. What is shocking is that CEB reports, “only 24% of the controllers we recently asked believe they are realizing positive returns.” CEB is advising organizations, “to get more value out of finance IT by upholding data standards, aligning IT investments with real business needs, and focusing on end-user adoption”.
TRI TUNS VIEW
At Tri Tuns, we have found that many firms do not have effective User Adoption Strategies. Effective user adoption programs focus on driving desired user behavior – such as how and when people use the technology, the actions they take to ensure data quality, the degree to which they follow defined business processes, and the actions they take to ensure compliance. The skills and methods required to drive effective user adoption are very different from those required to implement IT systems. Unfortunately, these are often missing from most IT implementation projects.
The CEB post indicates that only 24% of controllers “believe” that they are realizing positive returns on their investment. Based on this, consider:
- The remaining 76% of organizations do not believe they are getting a positive return on investment. This is a ridiculously high percentage. Even in Vegas you have a better shot of getting a positive return!
- Would you make an investment if you only had a 1 in 4 chance of getting a positive result? (Well, you might if your portfolio includes shares in Solyndra.) Before making major IT investments, you should have a clearly defined strategy for when and how you will measure the ROI on your IT investment. What you will find is that User Adoption is the biggest item on this critical path. What you will probably find is that you are not doing enough to maximize and sustain user adoption over the life of your system, and this is the leading cause for failed IT investments.
Before investing in IT projects, make sure you have a clear User Adoption Strategy that aligns user behavior & adoption of the IT system with your business goals and IT ROI needs. Further, you need to determine how will you implement your user adoption strategy and sustain your User Adoption Program over the life of the system. Be sure to recognize that changes in the levels and effectiveness of user adoption (over time) will change the ROI you receive from your IT investment. Quite simply, whenever you stop measuring and driving effective user adoption your IT investment is at risk.
TRI TUNS CAN HELP
Tri Tuns helps organizations maximize the ROI on their IT investments by developing and implementing User Adoption Strategies that maximize and sustain effective user adoption over the life of the system. We conduct User Adoption Assessments, Develop User Adoption Strategies, and provide hands-on User Adoption Program Implementation services.
Tri Tuns also provides the MyUserAdoptionPlan.com, an online User Adoption Portal that addresses all of your critical User Adoption needs. MyUserAdoptionPlan.com is an all-in-one solution that helps you lower the time and cost to create and maintain user adoption programs, while increasing the effectiveness of your User Adoption Program. MyUserAdoptionPlan.com is based on User Adoption Best Practices and comes preloaded with the core content you need to quickly define and launch your User Adoption Program. Contact us to learn more.
The page above is from MyUserAdoptionPlan.com and shows some of they key User Adoption Program areas that you need to address as part of your User Adoption Program.
- Check out MyUserAdoptionPlan.com – an all-in-one User Adoption Portal
- Read: “Design the right metrics to improve user adoption”
- Read: “Motivating User Adoption: Commitment, Compliance Or WIIFM?”
- Read: "What is IT "Success"?
- Read: “Leadership: Are You Really Committed?”
- Read: “The Myth of User Resistance”