With the advancement of digital transformation of businesses, failure to have real-time strategic and financial performance information in place can result in poor business decision-making.
However, this can easily be avoided.
ITWeb, in partnership with Gen2 Enterprise Software and IsambuloAMI Strategic Consulting, is conducting an online Strategic Planning Survey.
The research will establish to what extent businesses utilise strategic planning and financial planning solutions, and the extent of the alignment to organisations' ICT strategy and digital transformation objectives.
Strategic and financial planning software can enable efficient and effective implementation of strategy and financial plans across an organisation to realise significantly improved performance, through real-time monitoring and evaluation functionality.
A select number of available solutions in the market are easy to use, Web-based applications that generate insightful reports at all levels and manage records and data efficiently.
"The main objective of the survey is firstly, to evaluate and understand to what extent strategic and financial planning solutions are being utilised and whether they are aligned to ICT strategy," says Robert Mulder, executive director and partner of IsambuloAMI Consulting.
"Secondly, whether CIOs are involved in aligning their ICT strategy with that of the corporate strategy."
Digital drivers
Mulder believes that in today's digital age, the benefits of strategic planning are better realised through tight/close ICT strategy and corporate strategy alignment that encompasses the role that digital transformation plays as a driver in achieving the desired levels of future performance.
"This alignment is critical for organisations to enable their organisational strategies," he says.
With regards to new approaches in the strategic planning sphere, Mulder points out that innovation is being used to shape corporate strategy, but more specifically disruptive innovation techniques in marketing and product/service development.
"Along with disruptive innovation, along with digital transformation is a powerful new dimension to creating superior and sustainable business performance."
Mulder believes South African organisations are on par with international companies with regards to the approaches, techniques and processes utilised in strategic planning, although even these processes are being innovated to become more streamlined and efficient.
According to Mulder, the overall success of implementing strategic planning solutions, which are effectively utilised by executives and boards in South African organisations, is low.
"The adoption of robust and strategic planning tools, that enable real-time performance data to be sourced for decision-making, remains a challenge within organisations," he notes.
According to Diederik Jordaan, MD of Gen2 Enterprise Software, the best solutions for strategic and financial planning, which deliver the most value to executives and boards, are standalone solutions and those that can be integrated. The available solutions enable effective and timeous decisions to be made through the ability to access real-time strategic performance information.
Click here to complete the survey and stand a chance of winning a Lenovo TAB2 16GB tablet.
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