Organizations today are faced with more decision-making challenges than ever before. This is due to the sheer volume of data, disparate sources, and breadth of information that they must process to operate effectively—not to mention their competitors’ efforts to outmaneuver them at every turn.
Traditional business intelligence (BI) helps organizations make better decisions. However, all these tools can’t solve all the challenges companies face. Technology, process, and people are three key pillars of transformation. Technology will and is constantly changing and innovating and optimizing platforms and processes is the key to leveraging and delivering insights in the fastest and most effective way. Could an enterprise portal be the ticket you’ve been waiting for all this time?
Businesses need to become more intelligent, which means they need to make their organization more agile. They need to be able to adapt quickly and correctly, but in order do that they need a modern platform for insight delivery from multiple tools. To deliver such a platform organization should invest in an Intelligent Enterprise Portal (IEP).
“Highly successful agile transformations typically delivered around 30 percent gains in efficiency, customer satisfaction, employee engagement, and operational performance; made the organization five to ten times faster; and turbocharged innovation.” McKinsey & Company
This all sounds nice… but is it a necessity for all businesses? In this article we’ll highlight how enterprise portals can help businesses cut costs dramatically but drive value at the same time. We’ll also cover what an enterprise portal is, how it works, and why it shouldn’t be perceived as a ‘nice to have’.
What is an Enterprise Portal?
An enterprise portal is a central information hub that provides users with real-time access to critical organizational data and information. It acts as a web-based platform that combines all your existing business’s analytics and intelligence sources (on-premises and cloud), giving users a consistent interface across multiple technologies and a direct route to what they need. Over and above having a centralized analytics experience, the right intelligent enterprise portal can provide your users with that extra layer of value they need by learning from user behavior patterns, history, and peer activity (Learn more here)
Death by multiple systems?
Regardless of a user’s role in the business, most if not all the daily activities carried out involve manual processes because the people involved don’t have a direct route to the information they need, which leads to duplication of effort and the subsequent delays that come with it.
For example, let’s say there is a problem with an order. For a team – whether customer-facing or internal – to solve it, they need access to information across 25 different systems and applications. That’s 25 different platforms with 25 different logins, 25 different looking portals, 25 different ways to navigate around a platform, 25 different ways to extract information, 25 portals that don’t know or understand the user… the list goes on. Based on this example, a user is wasting 37.5 mins simply logging in and accessing what they need – they haven’t even started on the ‘solving‘ part.
Employees spend 10+ hours each week searching for information (The Economic Times)
Lost productivity and profits
Accessing, navigating, and managing multiple systems affects your bottom line. It’s as simple as that. We’re talking about hours and days lost, reducing the productivity of your employees, and impacting their engagement and morale. In essence, businesses are paying people to ‘waste time’.
In most businesses where a lack of efficiency is called into question, it is usually down to people spending too much time on their mobile devices, standing chatting at the coffee machine, or blaming a meeting that overruns. But in today’s technology driven world, could scenarios like the one above (managing 25 different platforms) be:
- Costing you in dollars, time, and productivity?
- Demoralizing employees?
- The reason for low productivity and engagement?
- Contributing towards low adoption of BI across the business?
- Preventing the creation of a data-driven culture?
- Stopping you from becoming a smarter organization?
So, in a year’s time, how much money might you be losing?
Keep it simple and centralized with an Enterprise Portal
The pressure to stay competitive is growing and businesses that digitally transform are better places because they are able to use analytics and information to make quick and informed decisions. Focus needs to be on the user, their experience, and what information they have at their disposal. Are in-efficient processes and disconnected technologies hindering the business’s success?
By replacing the multiple portal experience with a centralized view of critical information and analytics across existing systems and technologies – all within one unified interface – allows users to see what’s happening now and what’s coming up next.
This will not only save users time and eliminate in-efficiencies, but it can also help users make better, faster decisions across your organization.
To find out how Digital Hive can help you drive change and centralize, contacts us today!