For consultancy businesses it’s essential that they are able to tightly manage the progress of a project. When every project involves a degree of risk, relevant information needed to manage that risk can’t only be stored in the laptop or head of the project manager. The key is to ensure that the necessary data is available to all, something made possible with the appropriate project management IT solution. The question is, how do you choose the right one?
Project management is still a major challenge for many organizations. Bringing structure and accurate reporting to the process remains difficult. Where do you start, and how do you get the maximum out without over-stretching your people?
The traditional picture of the supply chain often depicts a cash guzzling monster. As a result, when considering their logistic processes, many businesses have focused primarily on stopping it from eating up their hard earned profits. Reducing operating costs and limiting damage to the P&L were the order of the day, managers sniffing out opportunities to stretch the margin by streamlining here or trimming there.
Selecting the right IT setup for an international business is no easy task. The vendor landscape is already broad, with further developments continuing at pace. Given the range and complexity available, considering both ends of the functionality/price spectrum is essential.
Compliance normally starts us thinking about ‘bookkeeping rules’. While that’s true, it’s also about more than that. About creating process optimization, often through the standardizing and centralizing of company activities. That in turns gives companies control over their processes and more reliable insights into the results. The businesses that do this well can be confident their managers have the right information at the right moment – the basis for making smart decisions.
Inefficient collection of accounts receivable stagnates cash flow, a significant problem for many businesses already operating on razor thin margins. If you’re taking longer to get hold of your money than you’d like, a reappraisal of the role your IT system is playing could help.
Whilst small professional services firms remain in the majority, many of the businesses that dominate the sector have successfully realized growth in volume and complexity through geographical expansion. Whether organically or through M&A, they have successfully sought out new opportunities abroad and committed to creating genuine in-country presence overseas.
The future seems to hold the promise of increased international expansion, supported at least in part by the adoption of more flexible workforces. Global enterprises will offer high quality services, leveraging empowering digital communication to blend external niche expertise with a core of more traditional employees. That said, whatever the chances awaiting these businesses, it’s also clear that these changes will bring significant new operational pressures – for both management and IT.
Wholesalers and manufacturers find their supply chains are crossing more boundaries than ever before. Globalization, new international trading partners and offshore sourcing are inherent to today’s most exciting opportunities. With that in mind, what are the key do’s and don’ts when it comes to doing international business successfully?
Project managers and the financial administration – it remains a tricky combination. When the project manager is focusing fully on the best possible result, the money factor can sometimes take a back seat. It is then up to the project controller to ring the bell and get a grip on the project’s financial situation. Here we look at how they can help projects to be successful on every front.