ERPodcast Episode 14 (& 15?)
Get Digital Video
MFX Up and under
It’s the ERPodcast Version Mayhem. For the past few weeks, we’ve been doing a couple of things. One, working with as many sources and collecting as much information as we can to help our clients survive the Coronavirus lockdown and thrive in the business environment to come. Two, we’ve been creating a digital transformation of our own – relaunching the Profit From ERP concept, offloading our past business model in exchange for a more concept that focuses on what we do best, emphasizing our strengths and partnering with others who can do a better job in areas that used to bog us down. There’s new podcasts, white papers, websites, digital tools, analytic developments, as well as broader partnerships and alliances – all digitally connected and delivered with one thing in mind – to better serve our clients – companies who are looking for the Best ERP – and what is the Best ERP? It’s the one that best solves a client’s problems. The number one problem – uncertainty. Certainly, during the Coronavirus pandemic. If that weren’t challenge enough, Now we’re facing huge unrest in the country with urban protests and riots.
So what it boils down to is CHANGE is happening at lightning speed. Digital Transformation creates companies who can change rapidly and shift on a dime. And with all this change, can your business afford to remain static? Big Question. A lot depends on it. We’ll talk about it today.
Another business trick I learned some years ago – go find the smartest guy in the room, stand next to him and shut up. People will walk away talking about those two brilliant guys they just met and my contribution to that impression consists mostly of smiling and nodding. So today we’re bringing in a brilliant guy, Bhushan Parikh from a company called Get Digital Velocity. Bhushan’s been at the VP/CIO – that’s Chief Information Officer level of some key companies in the past. He’s been working with leading teams of strategically excellent companies for years. His expertise stretches across generations of technology of all types – and his company, Get Digital Velocity helps mid-market companies like yours re-examine strategic and tactical approaches to digital transformation – he’ll be telling you all about it – I’ll mostly be smiling and nodding – on this week’s episode of the ERPodcast – digital transformation – one more way you can Profit From ERP – I’m Gene Hammons
Today’s Episode is being jointly sponsored by Get Digital Velocity and Profit From ERP. You may have heard me speaking about the Alliance of Excellence Software Coalition – a loose federation of business software providers who’ve proven themselves over the years as reliable and trusted advisors as well as talented implementors and service delivery teams.
Different companies have different business requirements and the consulting team that says they can do it all is pretty much where they came up with that saying ‘jack of all trades, master of none’.
When it comes to an ERP project, there’s different levels of activity. There’s the basic, what does this ERP do. But there’s also change management – strategic planning – marketing awareness – even as far as changing the company’s overall strategy.
Some people are asking for a simple direction, which ERP packages should we look at. Others need more – how do we make this system pay for itself – and yet some of our clients want senior level adviser, up to and including a fractional CIO – a senior technology executive to fill a top level role – and that’s where we partner with Get Digital Velocity.
Here’s the thing, whatever your company, whatever your requirements, we can build a team to help you thrive in tomorrow’s business environment – not with just who we have on staff – but whoever’s the best in the business. Contact us through the Profit From ERP website or info@profitfromERP.com and we’ll start that discussion on building your team for future success – From Get Digital Velocity and Profit From ERP. – And now onto our discussion.
Intro to Bhushan
– Welcome my special guest Bhushan Parikh to today’s episode of ERPodcast. In the way of introduction, Bhushan, over the years, has a background in high level IT positions with some very heavy hitting IT teams. Groups like Avnet here in Phoenix, Johnson Controls, a huge powerhouse, consumer brands like Nike and Johnson & Johnson.
Bhushan’s firm, Get Digital Velocity provides consulting services to mid market companies as well as Fractional CIO services – which means if you need top level leadership for your companies IT and strategic digital approach to the marketplace, Get Digital Velocity can provide as little or as much as you need – giving you access to some of the top Digital expertise – so let’s dig in and find out more about Get Digital Velocity, what it means for you and your business going forward.
- Bhushan – let’s talk about digital transformation. On some of the ERP software selection sites you’ll see different levels of approach categorized as ERP upgrades, ERP replacement and then at the very top, Complete Digital Transformation. It’s a hot button topic – but not everyone has a complete grasp of the concept. Can you walk us through Digital Transformation so we’ll know exactly what we’re referring to?
- Fractional CIO’s Chief Information Officer – the technology leader of a corporation – what are some of the assignments you’ve taken as you advise clients on a more ongoing basis as a part time or temporary CIO?
- Let’s talk a bit about IT or Technology in general – in many – especially smaller companies – the IT team is thought of as a cost – but in leading companies, rapidly growing firms, it almost functions as a revenue center either cutting labor costs or increasing productivities
- One thing I’ve noticed – working in pre-sales and working to help clients understand the impact of software, we’ve often produced Cost Revenue Models to show the before and after impact – I know almost everyone has been burned by technology that overpromised and underdelivered in the past, but I see most CFO’s take a very dim view of projections and promises for any project. When you’re in an organization as a Fractional CIO, how do you bring a skeptical CFO on board to get behind projects that are really designed to help overall company productivity and boost efficiency?
- Offline, we’ve discussed looking at the assets a company has and thinking about different ways to use those assets, ideas that might be critical to a company’s survival Post Covid 19 – have you seen other examples of out-of-the-box thinking in the last few weeks?
- I’ve heard you speak about Apple in the past, in terms of they are a hardware manufacturer – – iphones, computers, tablets, watches and so on – but their main value-add is design – and manufacturing is outsourced entirely so they can continue to focus on design and user experience. How does this benefit Apple?
- Still, there has to be a tight interrelationship between manufacturing, supply chain and retail/online sales – how does being a digital company enhance this opportunity?
- Now that the country is starting to open up from the Covid 19 lockdown many companies have been badly affected, some don’t yet know the effects and some now find themselves booming. Can a company see where they stand from an internal perspective or are they too close to effectively see the bigger picture?
- You’ve spoken about companies needing to re-purpose IT spend, or re-allocating the IT budget in a different manner post-covid. What are some of the major initiatives your client companies are undertaking?
- I heard elsewhere it’s called Building the Company for where you want to go, not where you are today.
- Back to the Apple experience, where they’ve identified Design – with a capital D as their major competitive advantage and outsource secondary elements like manufacturing to those who are world class in the process of manufacturing. Can we take this same approach with mid-market companies?
- Coming into a Mid-Market company as Fractional CIO or even on a consulting engagement – One, is it easy to define key areas where they need to concentrate and suggest they outsource related, but critical elements? And Two, how does a management team react when you advise they go from a completely vertical top-to-bottom supply chain to a more horizontal, relying on outside partners type operation?
- Let’s talk more about breaking down the core competencies of a company and spinning off non-essential tasks, which can be managed by others more focused in that particular area.
- A concept I came across yesterday – imagining where you need to be in two years and then backfilling the tasks on schedules designed to get you there – or determining what you would need to do today to get where you want to be in two years.
- The Covid Effect – for some companies, it’s really a three month business disruption – for others, it may be a 12 month retooling – but in the overall scheme of a 10 – 20 year company lifetime, it’s a blip. A Big Blip, but a blip.
- Wall Street Journal Article, Kendra Scott Jewelry in Austin – she started designing jewelry in her spare bedroom, was up to 100 retail outlets that sold her jewelry until the 2008 crash – she had to retool, open her own retail and ecommerce. She completely revamped plans for more international expansion more retail locations – but brought forward a curbside service they’d planned to roll out for jewelry heavy holiday periods and that became the covid social distance distribution method. – Here’s the deal – Harvard Business Review says in a recession 10% of the companies will come out stronger, 90% won’t. Kendra Scott is a perfect example of how being a digital company, able to operate in retail and ecommerce, shop online – all of these things gave her the ability to come out stronger – they had a recent Berkshire Partners minority stake purchase in Kendra Scott Jewelry for more than $1B – so at this point she probably has more than ONE spare bedroom.
MFX Up and Under
Thanks for listening to this week’s episode of ERPodcast, we covered quite a bit of ground, but if we missed something you’re interested in – regarding Digital Transformation for your company we can be reached at firstname.lastname@example.org we’ll be glad to put together a conference call to talk about your specifics. You can also sign up at the Profit From ERP website for notice of upcoming podcasts and webinars from Get Digital Velocity’s Bhushan Parikh, and other thought leaders from various industries.
Be sure and subscribe to the podcast at Apple Podcasts, Google or others – we appreciate good reviews and do send a link to your friends and hide it from your competitors.
I’m the Director of Profit From ERP, Gene Hammons, wishing you a safe and profitable day.