To get your funding request approved for an IWMS solution, you need a good business case. You must convince your management that your project will result in compelling financial returns. The bottom line: does the initiative increase revenue, reduce costs or solve business challenges?
A good IWMS business case should include one or more specific business challenges, like backlog in work order management or cycle time for store development. Your business case should provide solutions to your challenges, along with the benefits, costs and risks.
Building a business case for IWMS has a goal to prove in the return on investment. A true IWMS consolidates real estate, facilities, operations and project management processes onto a single platform for measureable results that improve bottom line results. Here are 6 goals for any business case for IWMS:
- Improve conventional business processes focusing on best management practices
- Build steady long-term technology business partner relationships
- Merge heterogeneous facilities management software packages
- Integrate with the existing ERP solution
- Provide management information that complies with the needs of all stakeholders
- Meet current needs while allowing for future growth
“Nothing supports properties and facilities management like IWMS.”
A compelling business case offers a value proposition of your organization’s strategy and complements your business goals. When you develop your business case, consider that most IWMS solutions can be implemented in phases. As such, provide a range of high, medium and low investment alternatives with their associated returns when you go for executive approval.
Here is the list of 5 standard benefits of IWMS:
- Improve corporate sustainability
- Increase customer satisfaction
- Increase employee satisfaction
- Achieve compliance with less risk
- Better control
Start by aligning your project vision with your business goals. Budget allocations depend on internal support, so pre-sell your plan to your colleagues and learn from their feedback.
A good business write-up for IWMS covers measureable cost savings, increased productivity, and improved work efficiencies used to calculate a return on investment.
Out of the various methods available for analysis, Return on Investment and Cost/Benefit Analysis are the most commonly used tools.
To summarize, design your business case to be comprehensive and easy to read. The primary purpose of a business case is to communicate using terms that your target audience can understand. With multiple, successful implementations, ValuD’s team of IBM TRIRIGA experts understand the challenges and will assist you through the process. Reach out to us at email@example.com for more information.