The true cost of postponing a potentially transformative IT initiative can be found in one place and one place only--the price of delaying a given project within your competitive landscape.
Transformative tech exists on a time continuum wherein the relative value of adopting a given solution or set of functional tools dwindles as the tech gets adopted by competitors. E.G., indoor plumbing may have been high value tech when first introduced, but quickly became table stakes for housing providers as it was widely adopted.
Forbes- Five Ways Cloud-Based CPQ Increases Sales Effectiveness And Drives Up CRM Adoption- Apr 17, 2016,08:22pm EDT
CRM, CPQ and other front-end applications have become basic table stakes for any IT organization who wants to provide salespeople with a modern toolkit that helps them sell configurable products quickly and efficiently. While these applications’ value to organizations that are currently operating without them are certainly still transformative, it is their relative value compared to competitors’ toolkits that continues to decrease.
The truly transformative technologies that are mentioned the most frequently now tend to be Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI) and Machine Learning.
Now to the question that inevitably arises out of this-- what if you find yourself trailing in the basic “table stakes”? What if you have yet to implement a base front-end solution that contains CRM, CPQ, 3D, CAD and interactive quoting functionality?
The obvious answer is that implementing a complete front-end solution needs to be made job one. But the news isn’t all bad. As a late adopter of a front-end solution, you’ll have myriad options in a mature space to choose from. Modern front-end solutions offer a 360° view of all customer activity. Quoting and ordering work seamlessly with powerful CPQ engines to make product configuration easy and error proof. 3D images can be rendered in a web browser to increase sales and converted to CAD files to optimize production. Implementation times and costs of customized solutions that fit your business needs are lower than they have ever been.
The salient point is that the true cost of postponing a potentially transformative IT initiative like a front-end solution implementation is at an all time high. The relative cost of such a project is at an all-time low.
To fully understand the cost of delaying, or further delaying, the implementation of transformative technologies, one has to be brutally honest with oneself in assessing the gap between one’s installed IT stack and one’s competitors. If this gap skips generations of technologies that have already been widely adopted across your space but you have not, then the cost of further delaying these implementations cannot be overstated.
For more information on Verenia and how our team can help get your front end IT projects moving forward, contact firstname.lastname@example.org.