Medina Networks Release 2009 Predictions
Organizations will suffer budgets slashed or frozen. With less money to spend they’ll get by with what they have instead of splash out on new technologies. Chief financial officer* and Finance Directors will search inwardly at how to attain greater returns on assets utilized rather than the ROI on new purchases.
Everyone will need to realize the value of their assets, physical and intellectual, leading to initiatives which efficiently utilizes alll the assets and ensures they are not squandered. This will be particularly true of those which seem to possess no perceptible value, but do. For example, the data locked up in various applications including: Marketing, CRM and ERP/Accounting systems. These are obvious places for optimizing value because there are massive inherent data wastes and gains to be had.
Servicing them the right way
With both business-to-business and consumer markets spending less, organizations will need to work harder than ever at delivering value to service their clients right. Failing to do so will lead to customer desertions, squandered opportunities and honestly will serve them right. Conversely, those who adjust to better serve their clients, those who understand their market through better data and thence information will turn in the value discerning clients demand, be that by better products, services or price. The winners will hold, penetrate and draw in new business and endure to battle another day.
This call for for a fuller understanding of customer needs will lead to an increase in Master Data Management and Single Customer View initiatives throughout 2009, as likewise expressed recently by Gartner.
Social Data and Customer Relationship Management
The use of social networking internet sites will continue to evolve and impact on sales and marketing departments. There will be a need to integrate CRM with the information available from these cloud environments, where people have shared a good deal of information about themselves.
To a Greater or Lesser Extent
The economy is going to get worse before it gets better. This will distinctly impact IT and Marketing budgets all over. Budgets will be cut, projects will possibly be put on hold, refreshes may be postponed or cancelled. Nevertheless, those who establish value (value = benefit – cost) and demonstrate to customers that they will either receive more of whatever they need and less of what they don’t need, ideally both, money will continue to be spent and value obtained.
Compliance
With the government financially bailing out industries such as banks, compliance and regulations will be bought to the forefront as tax payers demand to know what is happening with their money.
Green Issues
Along with curbing expenses, all industries will look into ways to save money which will include getting rid of waste and consequently affect green issues. This may be waste related to public utilities; not turning lights off, ;eaving the heating on when windows are opened or recycling; paper, cartridges. Do not overlook the 7 information wastes which also affect the environment and your bottom line.
Medina Network’s suite of services helps IT departments save money and ensure business decisions and IT initiatives meet the needs of current and future technology demands. Contact us for a free initial consultation. You can reach us here.
