Post on 30-May-2020
I T S o l u t i o n s
S o f t w a r e D e v e l o p m e n t
C o n s u l t a n c y
w w w . i c t u a l . c o m
R i d i n g t h e w a v e o f i n f o r m a t i o n t e c h n o l o g y
R I D I N G T H E WAV E O F I N F O R M AT I O N T E C H N O L O G Y
2015
KEY “MUST HAVE” INSIGHTS TO
STRATEGICALLY LEAD YOUR
ORGANIZATION TO SUCCESS
ANDREW SOLOMON
JONATHAN PETRUS
WHAT YOU WILL LEARN
• 5 Key “Must have” insights
• Tools, links & books
• Demo Financial Insight:
the “Must Have” application for managing the
Bottom Line
• Before we start…
• You might know us without knowing it…
ICTUAL?
ICTUAL?
VENDOR SOLUTIONS
• Unit4 Decade Financials
• Infor EAM
• IBM Cognos BI
• Decos DM & Cartracker
(Decos Caribbean)
FACTORY SOLUTIONS
• Web & App Development
• Oracle, DBA & Java services
• Jiver Mobile provisioning
• MijnDienstRooster
• Financial Insight
CERTIFIED
TELECOM & UTILITY
FINANCE
HEALTH
GOVERNMENT
KEY “MUST HAVE” INSIGHTS TO
STRATEGICALLY LEAD YOUR
ORGANIZATION TO SUCCESS
ANDREW SOLOMON
JONATHAN PETRUS
STAND UP OR SIT DOWN
BUSY, BUSY, BUSY?
• e-Mail, Smartphone, Meetings?
CONCLUSION
“It is very hard to focus and pay
attention in the information cyber
age…”
KEY INSIGHTS TO ORGANIZATIONAL
SUCCESS
5 KEY INSIGHTS TO SUCCESS
• 5 Barriers
Vision/Mission
Strategy
Execution
Change
Bottom Line
5 Barriers
to Success
INSIGHT 1: THE VISION MISSION
BARRIER
Vision/Mission
5 Barriers
to Success
THE MISSION/VISION BARRIER
• This vision/mission is not understood
• Mission/vision is not well defined
Do you have a clear vision /
mission statement?
91%
Yes
What percentage of people clearly
understand the vision?
Executive
Management
71%
Middle
Management
40%
Line
Employees
3%
Source: Renaissance/CFO Magazine Survey
THE POWER OF A CLEAR MISSION
STATEMENT
• 1962
THE POWER OF A CLEAR MISSION
STATEMENT
THE POWER OF A CLEAR MISSION
STATEMENT
• 1969
• "That's one small step for man, one giant leap for
mankind."
“We choose to go to the moon
in this decade
Because that Goal
will serve to organize and measure
the best
Of our Energies and Skills”
KEY INSIGHT 1
“Being committed to shared values and coming together in a joint mission,
ordinary people can achieve extraordinary things”
You need to have a clear mission vision statement
5 KEY INSIGHTS TO SUCCESS
Vision/Mission
Strategy
Execution
Change
Bottom Line
5 Barriers
to Success
INSIGHT 2: THE STRATEGY BARRIER
Strategy
5 Barriers
to Success
STRATEGY BARRIER
• Let’s GO North!
STRATEGY BARRIER
55%
45%
A significant number of organizations has no strategy (explicitly defined)
Has Strategic Plan
No Strategic Plan
Source: Grant Thornton Survey of American Manufacturers
STRATEGY BARRIER
• You need to
Flesh out your
Strategy!
STRATEGY BARRIER
• You need to choose an integrated & balanced
Strategy Framework such as..
• Balanced Score Card
• INK
• Performance Prism
• Business Model Canvas
• ….
BSC STRATEGY MAP
STRATEGY BOOKS & TOOLS
• Books:
• Balanced Score Card, Strategy Maps (Kaplan & Norton)
• “Het Strategie Boek” (Berenschot)
• “Good to Great”, (Jim Collins)
• “Blue Ocean Strategy” (Kim & Mauborgne)
• Tools:
• Https://app.mystrategicplan.com
• http://www.businessmodelgeneration.com/
KEY INSIGHT 2
“Organizations with a defined
strategy outperform their
competition”
You need to determine your strategy
together with as many key players
involved as possible
5 KEY INSIGHTS TO SUCCESS
Vision/Mission
Strategy
Execution
Change
Bottom Line
5 Barriers
to Success
INSIGHT 3: EXECUTION
Execution 5 Barriers
to Success
EXECUTION
STRATEGY EXECUTION IS AN
ENORMOUS SOURCE OF VALUE, …
GAP BETWEEN MISSION- VISION-
STRATEGY AND EMPLOYEES’
EVERYDAY ACTIONS
PERFORMANCE MANAGEMENT?
PM IS RAPIDLY REPLACED BY OKR:
OBJECTIVES & KEY RESULTS
OKR: OBJECTIVES & KEY RESULTS
OKR EXAMPLE: FOOTBALL TEAM OWNER
OKR: OBJECTIVES & KEY RESULTS
ONLINE OKR TOOLS
• Workboard
• Weekdone
• Perdoo
• Betterworks
• Statuspath
• 7geese
• Talentcove
• …
OKR EXAMPLE: DASHBOARD
OKR LINKS STRATEGY TO EVERYDAY
ACTIONS
OKR DRAMATICALLY ENHANCES
PERFORMANCE
• Of 54% of companies saying they have a strategy
execution process in place
• 70% says they outperform their competitors
• Of Those not having an strategy execution process in
place :
• Only 30% say they outperform their competitors
KEY INSIGHT 3
“The ability to execute strategy is
more important than the quality
of the strategy itself!”
Use a(n OKR) tool to monitor results and
frequently review and update objectives
5 KEY INSIGHTS TO SUCCESS
Vision/Mission
Strategy
Execution
Change
Bottom Line
5 Barriers
to Success
INSIGHT 4: HOW TO MANAGE CHANGE
Change
5 Barriers
to Success
CHANGE EXAMPLE
• Business Process redesign
• Facilitate change by using tools!
INSIGHT 4: HOW TO MANAGE CHANGE
• Best Practices:
1. Communicate!
2. Involve!
3. Facilitate Change Management with Tools!
KEY INSIGHTS TO SUCCES RECAP
1. Clear Mission Vision
2. Clear and communicated Balanced Strategy with both
Financial and intangible aspects
3. Execution! Use OKR tools! You can only manage and
steer with the right tools
4. Manage & Facilitate the Change: use e.g. a workflow tool
5. …..
5 KEY INSIGHTS TO SUCCESS
Vision/Mission
Strategy
Execution
Change
Bottom Line
5 Barriers
to Success
INSIGHT 5: MANAGE THE BOTTOM
LINE
Bottom Line
5 Barriers
to Success
FINANCIAL
INSIGHT
COGNOS BUSINESS
SOLUTION
KEY “MUST HAVES” INSIGHTS TO STRATEGICALLY LEAD YOUR ORGANIZATION
“Tools without a strategy are useless”
“Strategies without tools are hopeless”
10/19/2015
Financial Insight 57
AGENDA
10/19/2015
Financial Insight 58
• FI - General Necessity • FI - Business Case • FI - Tools for strategy • FI - Demo
10/19/2015
Financial Insight 59
Does this look familiar?
Data Sources
ERP
SCM
CRM
Data Warehouse
GL
GL
GL
Reporting, Analysis, Planning Risks and Limitations
Silos of data
No Data Integrity
Inaccurate and inconsistent
No Audit-ability
Poor efficiency and effectiveness
Competitive Advantage?
Institutional knowledge embedded into custom formulas
Inconsistent Information, Untrustworthy Analysis, Disconnected Planning
• One GL Account structure, multiple demands
• Internal: End-Year Reporting, P&L, Liquidity, etc
• External: Holding, Legal Parties like accountants, CBCS
(COA…)
• Consolidation
• The other dimensions?...
• Time consuming
• Export to Excel to crunch the numbers to match the demand
• Always changing formula’s for new or specific situations
• What about on-time and on-demand overview, insight and
reporting?...
10/19/2015
Financial Insight 60
Risk and Pain of Inconsistent Data
• Error-prone reporting
• Extreme and comprehensive calculations and queries, build
on the fly without comprehensive testing
• Hard work by dedicated people and still erroneous data
10/19/2015
Financial Insight 61
Risk and Pain of Inconsistent Data
What we are left with is….
•Relief that another reporting cycle is
over….
•Hope that the numbers are complete and
correct…
10/19/2015
Financial Insight 62
AGENDA
10/19/2015
Financial Insight 63
• FI - General Necessity • FI - Business Case • FI - Tools for strategy • FI - Demo
• Government Sint Maarten Experienced these same challenges... AND MORE...
• Transition to Country New organization and positions
10/19/2015
Financial Insight 64
Government Sint Maarten Business Case
Concern Controller
Ministry General Affairs
Ministry Finance
Ministry Justice
Ministry Education, Culture, Youth and
Sport
Ministry Public Health, Social Development and
Labor
Ministry Tourism, Economic Affairs, Traffic
and Telecommunication
Ministry Public Housing, Spatial Planning, Environment and Infrastructure
Concern Controller Staf member
• Concern Controller faced a big challenge…
• Responsible for maintaining good financial governance
• With no overall insight in Financial Information
• No jurisdiction on all Ministries
• Bottom line: Everybody wanted to spend and he needed to keep them in line…
10/19/2015
Financial Insight 65
Government Sint Maarten Business Case
• Concern Controller developed a strategy…
• Decentralize his responsibility for maintaining good financial governance
• Financial controller per Ministry
• Financial Controller responsible for their Ministry’s Budget
• Financial Controller responsible for their Ministry’s Procure-to-Pay process
• But he had no tools...
• Tools without a strategy are useless
• Strategies without tools are hopeless
• …so we gave him the tools Financial Insight
10/19/2015
Financial Insight 66
Government Sint Maarten Business Case
Ministry General Affairs
Ministry Finance
Ministry Justice
Ministry Education, Culture, Youth and
Sport
Ministry Public Health, Social Development and
Labor
Ministry Tourism, Economic Affairs, Traffic
and Telecommunication
Ministry Public Housing, Spatial Planning, Environment and Infrastructure
Concern Controller Staf member
Ministry Justice
Ministry Education, Culture,
Youth and Sport
Ministry Tourism, Economic Affairs, Traffic and
Telecommunication
Ministry General Affairs
Ministry Finance
Ministry Public Health, Social
Development and Labor
Ministry Public Housing, Spatial Planning, Environment
and Infrastructure
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Concern Controller
AGENDA
10/19/2015
Financial Insight 67
• FI - General Necessity • FI - Business Case • FI - Tools for strategy • FI - Demo
KEY “MUST HAVES” INSIGHTS TO STRATEGICALLY LEAD YOUR ORGANIZATION
“Tools without a strategy are useless”
“Strategies without tools are hopeless”
10/19/2015
Financial Insight 68
• Reporting and Analysis from all dimension and unlimited structures
• High-level overview to low-level detail
• Disclosure of the complete financial system
• Single point of thruth
• Minimal to no impact on the financial system
• Performance Management How, Why, What
10/19/2015
Financial Insight 69
Core Values
AGENDA
10/19/2015
Financial Insight 70
• FI - General Necessity • FI - Business Case • FI - Tools for strategy • FI - Demo
• To the next level with Financial Insight
How are we doing? Why? What should
we be doing?
10/19/2015
Financial Insight 71
Performance Management
10/19/2015
Financial Insight 72
How are we doing?
Dashboard shows current situation
How are we doing?
10/19/2015
Financial Insight 73
How are we doing?
How are we doing?
Aggregated level reports show bottlenecks
Why?
10/19/2015
Financial Insight 74
How are we doing? How are we doing?
Drill-Through reports show the causes
How are we doing? Why?
10/19/2015
Financial Insight 75
How are we doing? How are we doing?
Details are reviewed and planning is adjusted to remove bottlenecks
What should
we be doing?
How are we doing? Why?
10/19/2015
Financial Insight 76
Remember this?
Data Sources
ERP
SCM
CRM
Data Warehouse
GL
GL
GL
Reporting, Analysis, Planning Risks and Limitations
Silos of data
No Data Integrity
Inaccurate and inconsistent
No Audit-ability
Poor efficiency and effectiveness
Competitive Advantage?
Institutional knowledge embedded into custom formulas
Inconsistent Information, Untrustworthy Analysis, Disconnected Planning
• Semantic Layer Single point of thruth
10/19/2015 77
WEB, OFFICE, MOBILE, SEARCH…
REPORTING ANALYSIS SCORECARD DASHBOARD AD-HOC QRY
Semantic Layer
WEB MS-OFFICE PDF CSV
Financial System Decade Financials / Exact / Accpacc / Etc…
Financial Insight Framework and Cubes
REPORTING ANALYSIS DASHBOARD AD-HOC QRY
Financial Insight
• Concern Controller’s strategy enabled using Financial Insight
• Gained control and insight in their Financial processes using Financial Insight
• Financial Controllers have been introduced since 2011
• Procure-to-Pay is implemented Government wide since Feb. 2015
10/19/2015
Financial Insight 78
Government Sint Maarten Business Case
Ministry Justice
Ministry Education, Culture,
Youth and Sport
Ministry Tourism, Economic
Affairs, Traffic and
Telecommunication
Ministry General Affairs
Ministry Finance
Ministry Public Health, Social
Development and
Labor
Ministry Public Housing, Spatial
Planning, Environment
and Infrastructure
Financial
Controller
Financial
Controller
Financial
Controller
Financial
Controller
Financial
Controller
Financial
Controller
Financial
Controller
Concern
Controller
AGENDA
10/19/2015
Financial Insight 79
• FI - Business Case • FI - Tools for strategy • FI - General Necessity • FI - Demo
KEY “MUST HAVES” INSIGHTS TO STRATEGICALLY LEAD YOUR ORGANIZATION
“Tools without a strategy are useless”
“Strategies without tools are hopeless”
10/19/2015
Financial Insight 80
• Concern Controller’s strategy enabled using Financial Insight
• Gained control and insight in their Financial processes using
Financial Insight
• Financial Controllers have been introduced since 2011
• Procure-to-Pay is implemented Government wide since Feb. 2015
• From periodic global overview to Daily Budget and Realization insight
Financial Insight 81
Government Sint Maarten Business Case
Ministry General Affairs
Ministry Finance
Ministry Justice
Ministry Education, Culture, Youth and
Sport
Ministry Public Health, Social Development and
Labor
Ministry Tourism, Economic Affairs, Traffic and
Telecommunication
Ministry Public Housing, Spatial Planning, Environment and Infrastructure
Concern Controller Staf member
Ministry Justice
Ministry Education, Culture, Youth
and Sport
Ministry Tourism, Economic Affairs,
Traffic and Telecommunication
Ministry General Affairs
Ministry Finance
Ministry Public Health, Social
Development and Labor
Ministry Public Housing, Spatial
Planning, Environment and Infrastructure
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Financial Controller
Concern Controller
VRAGEN
10/19/2015 82 Financial Insight
Questions?
VRAGEN
10/19/2015 83 Financial Insight
Thank you
WHY INFORMATION TECHNOLOGY?
We ALMOST live in paradise
5 star tourist service?
What about 5 star citizen service!
If we really want to live in paradise
we might need to work harder but especially smarter…
using IT
Let’s jump into the Knowledge Economy
10/19/2015
WHY INFORMATION TECHNOLOGY?
We need to make the jump to the knowledge economy
(interns at Ictual)
WHY ICTUAL?
Government Finance Telecom Logistics &
Utility Health Care
Staff Augmentation
Projects
Product/Service Support & Consultancy
Product Development
Oracle SQL Server
MySQL
Windows Unix Linux
Java C#.NET
WHY ICTUAL?
• Since 1992: reliable partner
• We know & understand local situation
• ARU, BES, CUR, SXM, SUR • Fast Local & Remote Support
• Helpdesk (online)
• Proven Technology: Stability & Reliability
• Certified Expertise
• Able to Customize & …Integrate!
Let’s Ictualize your Business
www.ictual.com
INFO
• www.ictual.com
• www.facebook.com/ictual
• www.decoscaribbean.com
• www.facebook.com/decoscaribbean
• www.mijndienstrooster.nl
I T S o l u t i o n s
S o f t w a r e D e v e l o p m e n t
C o n s u l t a n c y
w w w . i c t u a l . c o m
R i d i n g t h e w a v e o f i n f o r m a t i o n t e c h n o l o g y