In my last post, I talked about the age of the customer and why companies need to develop systems of engagement that meet ever-changing customer demands. While this is obviously true for B2C business, it’s true for B2B as well, where consumer technology with user-friendly interfaces are now brought to the enterprise world. Because of this new paradigm, many companies are facing disruption. They need to reinvent themselves and develop new strategies to better engage with their customers through mobile, cloud and social media channels.
On this basis, companies not only need tools to develop strategic plans, but also they need tools for execution since they have to drive the change. In other words, companies need to bridge the gap between strategy planning and execution, and consequently reduce the time-to-market.
Instead of simply operating in their industry, every company’s primary focus should now be in technology with an expertise in their core activity. This is why business-centric challenges, such as corporate governance and business strategy, as well as IT-centric challenges such as digital transformation and rationalization of the IT landscape, will be more and more intertwined, with increasing overlaps. Consequently, tools addressing these challenges, such as IT Portfolio Management or Enterprise Risk Management, need to have a holistic or integrated approach that shares the same concepts and objects, creating synergies and helping coordinate efforts across divisions and departments.
Forrester conducted this research to help strategic planning roles select an appropriate tool for their strategy management process. Forrester has described the needs for strategic planning in four points:
The strategic planning roles defined by Forrester are:
Finally, Forrester evaluated vendors offering using three main criteria:
Forrester has put their results into three charts for each of the strategic planning roles – strategists, architects, and portfolio managers – by using the three criteria defined above: Current Offering, Strategy, and Market Presence.
In this report, MEGA has been named leader, and in particular MEGA got the highest score for Strategy. To help companies achieve their transformation, MEGA’s strategic directions for the next couple of years will focus on strengthening capabilities to depict business and technological environments, as well as enhancing reporting and collaborative workflows.
For more details, you can download the full report by clicking on this link.