Getting An Accurate Gauge on ROI From Your Consulting Project


By Lauren Keepers

When you hear digital, you think data. And if you’ve started to hunt down a consulting partner to lead digital transformation efforts for your organization, it’s totally natural to expect transparency concerning the details around your project’s ROI outcome. Before you jump the gun on asking your consulting experts to confirm your ROI goals by way of blanket metrics and golden rule benchmark percentages, we’d first like to shed some light on how to accurately gauge success from project get-go.

There are three truths when it comes to effectively measuring the success of any given project’s solution design.

But before we share those truths, let’s get something on the record. At the end of the day, your consulting team will never have the ability to quantify a concrete ROI percentage to march to throughout the duration of the project. Unless, of course, some type of unparalleled piece of technology that enables this type of functionality is patented in the next few years – you never know what innovations the A.I. Era may manifest. What your team of experts can provide you with are the tools and resources your organization requires to achieve and accurately measure its short and long-term goals.

 

1 | Work together to establish ROI goals before the statement of work (SOW) is signed.

Stressing when your ROI benchmarks should be established as it relates to the project delivery phases and who should be in charge of establishing them is key. The most effective Relationship Managers are the people who have been trained to ask the right types of questions prior to project kick-off. These questions should work to identify technology needs, process flow gaps, operational inefficiencies, compartmentalized dashboard systems, and more. The sales team is then responsible for relaying that intel to their delivery team counterparts, ensuring that meaningful strategic planning discussions can be had around how to best design your solution with goals in mind.

 

2 | The client will play as big of a role in defining ROI as their consulting experts

It takes two to tango. As such, defining your project success benchmarks should be done in unison between client and consulting team. When solidifying your project ROI goals, it’s crucial that all major current obstacles and established future objectives are taken into account. Letting individual teams’ voices be heard will make for more effective solution while serving as a way to reinforce project value to each unique department when the project enters the user adoption phase. Consider the below scenario as a very realistic illustration of the difference in goals each department head sets when their organization is ramping up for a digital transformation project:

 

> VP of Operations: “Our primary project goal is to drive more revenue through more efficient processes an increased productivity.”

 

> IT Director: “Our primary project goal is to implement a single unified system and eliminate overall disjointedness in order to strengthen our network security.”

 

> Service Desk Supervisor: “Our primary project goal is to manage all service desk tickets more quickly and methodically through one comprehensive dashboard.”

 

> CFO: “Our primary project goal is to adhere to a clear financial plan to provide employees with a roadmap on what to work toward while maximizing our contracted consulting service value.”

 

> Sales Manager: “Our primary project goal is to convert more leads through a more tactful engagement strategy.”

 

> CEO: “Our primary project goal is to implement a solution design that drives our organization’s short term and long term objectives.”

 

Each department head’s measure of success is going to be different, and that’s okay. In fact, it’s good. The key differentiator that will impact interdepartmental user adoption – and therefore, big returns on your project investment – will be the change management plan that your consulting experts help you put in place. Your solution’s success is dependent on whether or not it’s embraced by its users.

 

3 | The relationship between project goals and ROI potential are bidirectional

When it comes to sustaining high profitability, a company will choose to adhere to the fluid demands of the greater competitive marketplace and adapt its short and long-term objectives, operational processes and vision in order to remain lucrative. That’s the nature of organizational growth after all – to embrace change with arms wide open. This is what makes the relationship between project goals and ROI potential so symbiotic. Gauging ROI is an ongoing, organic process. Like any goal setting venture, determining a starting point is necessary, which is why those initial sales conversations will play a pivotal role in laying the groundwork for solidifying the project’s goals. However, it is also very common to identify additional areas of opportunity that will affect ROI potential as you go. ROI establishment doesn’t happen in one clean sweep.

 

Creating the blueprints for qualitative ROI goals before the kick-off of any project is completely feasible and paramount to tracking the success of its outcome. Need help kick starting the conversation on digital transformation for your organization? Contact one of Canpango’s expert consultants today.

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