Independent Consulting Company’s Maze Principle Empowers IT Directors To Deliver Business Value
Dominic Barrow, an independent consulting company that helps businesses to maximise the value of their IT investments, today announces The Maze Principle, a new concept for the effective delivery of ROI in IT.
The Maze Principle offers a practical solution to the challenge currently facing IT directors: how to maximise and demonstrate the value of IT investments. The solution to a maze can often be found by starting at the end or goal and working backwards. In business, the first step in designing an IT strategy must be to clearly identify what is of value to an organisation, and ensure that all investments are aimed at this goal.
Dominic Barrow argues that few organisations apply this discipline, leaving a gulf between the value-driven demands of business leaders and the working practices of their IT departments. Historically, budgets have been spent keeping abreast of must-have IT trends, with the characteristic means of demonstrating ROI on these investments (such as Net Present Value, Internal Rate of Return and payback period) seldom being reconciled to the mission-critical aims of the organisation.
“What counts as value to businesses are goals such as increasing revenue, reducing costs, improving customer satisfaction and developing brand recognition,” comments Chris Potts, Director of Dominic Barrow. “If IT is benchmarked according to different goals, or does not deliver value when it is needed by the business plan, it becomes very difficult to justify the considerable investments demanded by IT projects. Using The Maze Principle, an IT investment plan is embarked upon with these core business goals at the forefront.”
Successful implementation of The Maze Principle requires organisations to maintain an ongoing commitment to delivery on goals, by setting value milestones. These lay out what value needs to be delivered, and by when. Achieving value milestones becomes the foundation of every project and decision. Once in place they allow organisations to determine the individual initiatives that will deliver them.
“In a challenging economic climate IT budgets are under close scrutiny and face a real threat of coming under the guillotine,” explains Potts. “This is understandable - for some organisations the bottom-line costs of IT can easily exceed net profits, and can often account for over 20% of annual revenue. The Maze Principle empowers IT Directors to integrate IT investments into their organisation’s business plans for value creation and back their work with evidence of the business value generated.”
About Dominic Barrow
Dominic Barrow is an independent company that specialises in helping businesses to maximise the value of their IT investments, through unique, value-driven IT investment strategies. Dominic Barrow delivers hands-on consultancy with skills transfer, as well as training, public seminars and in-house workshops. With a highly specialised approach and core competencies, results are delivered in days rather than weeks or months. Independent of any IT provider, Dominic Barrow has worked with organisations in many industries, including banking, insurance, credit card services, pharmaceuticals, airlines, manufacturing, big five consultancies, care services and government agencies.
More information at http://www.dominicbarrow.com .
Martin Brindley/Adrian Brophy
Tel: 01962 888100
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