Aptean Explores the Cost of Enterprise Software Workarounds in New Webinar with Guest Forrester
We all know a software workaround when we see one. But do we truly understand their significance to a company’s productivity and finances? According to one survey, their impact can run in the tens of millions of dollars. Like many constant irritations, workarounds are something we get used to – and become blind to how destructive they really are.
Aptean is now offering a webinar that shines a light on the hidden issue of enterprise software workarounds and the damage they cause. Featuring special guest George Lawrie, vice president and principal analyst at Forrester, this eye-opening webinar discusses how widespread the issue of workarounds has become and identifies the specific damage they inflict on an organization.
Workarounds are “a plan or method to circumvent a problem without eliminating it.” Nearly all organizations have some type of workarounds in use today. For example, some companies may use manual calculations and pivot tables across several spreadsheets to compensate for gaps in their reporting. In the webinar, Lawrie addresses how workarounds, like an overreliance on Excel, proliferate throughout an organization and how they have reverberating effects for years to come.
“The real problem is reduced visibility,” says George. In a survey of 40 large multinationals, 30% stated the opportunity cost to their business from low visibility is in the tens of millions of dollars. This ultimately stems from fragmentation of data which leads to an inability to make intelligent decisions. “Who hasn’t been to a meeting where people spent more time arguing about the data and the spreadsheet logic than running the business?” continues George.
The issue of workarounds becomes even more crucial for companies that rely on real-time data to get an accurate view of their operations. Without a single source of truth, customers are at risk of receiving misleading or inaccurate information, and ultimately impacting the organization’s bottom line.
As a major takeaway from the presentation, Lawrie presents a four step plan to assess your business applications:
Lawrie states that improving forecasting accuracy by as little as 1% can improve net margin by as much as 2%. An increase in forecast accuracy from 90% to 98% can release up to 20% of all inventory held in the supply chain. Assessing your applications for workarounds and removing these gaps can be a huge lift for your organization.comments powered by Disqus