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Benefits Analysis

Benefits

The benefits have been summarized into the types of benefits that can be expected to be achieved. Those types have been split into three parts. Those parts are benefit types that are achieved through shared IT software infrastructure, master data and those that are achieved at the business function level.

A number of benefits are quantifiable but have been included as soft benefits as no reliable metric exists. Part of future implementations should be to include a reliable metric to quantify soft benefits.

Some requirements have multiple benefits and some benefits are realised by multiple requirements.

Shared IT Infrastructure Software Benefits

Shared IT services can provide the infrastructure for business benefits. This is software that provides centralised integration, business intelligence reporting centralised monitoring, auditing/logging and access control.

Benefit Type

Description

Reduced cost

Not re-implementing functionality for each system.

Easier management

Easier control of staff movements (role changes, leaving, new staff) and functionality. (Access to systems)

Better control

Better tracking of system usage and hence value and benefits and better data control or access to information.

Adaptable

Easier to change for organisational changes with the introduction of new systems, processes.

Commonality

Can provide master data capability and benefits. Difficult to provide master data capability without Shared IT software.

Justification

Functional usage metrics possible for cost benefits analysis.

Quantitative Measures

Can provide quantitative measures of systems usage.

Cheaper

Shared cost among the business for increased levels of capability.

Master Data Management Benefits

The following list the types of business benefits achievable by having master data. See the footnote for further information about master data management.

Benefit Type

Description

“Single Source of Truth”

Prevents conflicting views within the organisation. Provides for consistency.

Consistency

Consistent organisational view. Includes functions using the same data.

Business Functional Benefits

The following benefit types exist for the business.

Benefit Type

Description

Financial Control

Improved financial reporting and control.

Ability

The ability to do things that are not possible currently.

Better

Things that can have the quality improved.

Faster

Things that will save time for staff.

Accountability

Better tracking and ability to justify and control

Accuracy

Greater accuracy of recording, planning and information

Cheaper

Cost less to do.

Efficiency

Efficiency is the ability to do more with same amount of resources or doing the same with fewer resources. (Related to cheaper, faster, better)

Collaboration

Improved cooperation and communication.

Consistent

More consistent responses and outputs.

Effectiveness

Able to do a better job and get a better result. More effective.

Flexibilty

Greater ability to satisfy changes in operations.

Risk Reduction

Reduced risk of legal or public issues or inaccuracy.

Error reduction

Fewer errors requiring rework or extra expense.

Legal

Ability to meet legal obligations more efficiently and effectively.

 

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