Building the right FIT solution
Raja Mukherjea
Transformation Leader | Partner in Growth & Innovation | GCC Thought Leader | AI & Data Analytics Advocate | Strategic Partnerships Architect
It is a common debate for any transformation project on whether we should do a bespoke solution or leverage existing solutions. While both have pros and cons, it is also difficult to identify a clear winner is many situations, I have leveraged these three tests to help me achieve the end objectives
1.???? Funding of bespoke solution should be clarified with internal stakeholders and client at the very outset. I am not talking about minor tweaks but full-blown custom solutions. We should be investing only after we reach an agreement on the cash flow otherwise you may be stuck with a half-baked solution. Clients may also explore an agile approach to create a Minimum Viable Product and then agree to open their deep purses.
2.???? Plug and play solutions which have solved similar problems with your previous clients can be deployed faster and should have very few stabilization and change management issues. However, there may be a need to add some customization layers and establish an eco-system to achieve the desired solution. If your cost benefit analysis points a positive payback then go for this approach by all means otherwise rethink.
3.???? Adaptability to your business expansion plan. If the proposed solution whether it’s bespoke or off the shelf but is not scalable to business demands, which are subject to sudden surprises and also Black Swan events (COVID), then you need to think hard and even evaluate if you have selected the right levers. ?
Note: views are personal
Finance & Accounts Leader | Global Business Services | BPO Expert | Finance Transformation | Speaker
1 年Raja, You have highlighted key challenges in transformation decisions concisely. My two cents while traversing a solutions roadmap for any problem statement: - the first target is to optimize the current available resources, - Next would be to look at a priority list of remaining problems and weigh it in with the available resources. The balancing of prioritization with funds is savagely important else we end up with half baked, half solved solutions (as you have aptly put) - Always create solutions that are scalable, as transformation projects require a substantial Capex outlay, and cannot/ should not be revisited again and again with tweaks or re-structuring. - Involve a proper blend of external consultants with internal hard nosed delivery professionals to ensure adherence to plans, timelines, cost, targets and global best practices. Just putting more fuel to your excellent note.
CA & CMA ex-PwC ex-Tata 27 yrs in Finance, Risk , ESG, SOX, COSO/COBIT , IT Risk/GRC, Cybersecurity, SOP, in Consulting, Big-4, Manufacture, EPC, Renewables, Telecom, Auto & Chemicals in India, Europe, Middle East & SEA
1 年I believe the most important test is scalability . Any transformation solution not tuned to scalability of business is a non starter. Most easy approach would be to rweak existing solutions and put it to scalability test. If the test fails automatically one needs to move to customised solutions which passes that test