Stop Accepting Defeat: Rejuvenate Your Digital Transformations Today With Financial and IT Portfolio Management

After so many years working with clients all over the world to establish new ways of
working through impactful transformations, we’ve found that many good intentions and strong starts seem to end up
with lackluster results or downright failures. 

What amazes us is that companies seem to accept this as standard—the cost of doing
business. The best they can hope for. After all, change is hard. And they’re right: “70% of digital transformations
fail”, says the oft-quoted statistic. 

But does that mean you have to take it on the chin and give up? 

We’d love to see more companies say NO.

Success is definitely possible. In fact, it’s pretty simple. (Of course, don’t confuse
simple with easy—nothing worth achieving is going to be
easy.)

It’s time to stop accepting defeat and start winning.

As we’ve expanded our solution set here at Cprime, it’s become clear that one key to
running a successful business in the modern era lies in IT Financial Management (ITFM) and Strategic Portfolio
Management (SPM). Combined, they’re augmenting and stabilizing agile and digital transformations that never reached
their full potential. 

Not that those concepts no longer apply—they’ve just been hard for most companies to
fully understand and implement, even with expert guidance and state-of-the-art tooling. But ITFM and SPM—and their
related tools and methods—are making a real difference, upping the success rate for our clients.

The stakes are high, and the cost of failure is even higher. But here’s the good news:
failure is not a foregone conclusion. With the right approach, tools, and mindset, you can turn things around and
set your organization on a path to sustainable success. Let’s dive into how you can stop accepting defeat and start
winning in your own digital transformations.

The Harsh Reality — “The Cost of Failure”

Not to belabor the point, but the statistics really are sobering. 

• A Harvey Nash/KPMG CIO Survey points
  out that only 41% of companies have an enterprise-wide digital strategy, and a mere 18% rate their use of
  digital technology as very effective. Have those figures changed in the last 7 years? Not from what we’re
  seeing.
• Harvard Business Review recorded that
  70% of change initiatives taken up by businesses fail—a figure echoed by McKinsey. Forbes puts the number at
  84%. 
• Furthermore, PWC reports that 45% of
  leaders believe their company does not have the right technology for digital transformation adoption.

But does it really matter—to the bottom line, specifically?

Yes, it does. 

This isn’t just about bragging rights—who can get it right first. These aren’t
nice-to-have functions and capabilities we’re talking about here. These failures have a profound impact on
stakeholders. 

Famously, when Hershey’s digital transformation failed, the financial repercussions were
enormous, with a 19% decline in quarterly revenues and an 8%
drop in stock price. 

And that happened almost 30 years
ago. Imagine the cost today, with far more crowded markets, vast
globalization, and a host of practical complexities Hershey didn’t even have to consider at the time.

This isn’t an isolated case. Hershey’s experience goes to show the high cost of failure
in digital transformation. Unrealistic goals, poor planning, and inadequate execution can lead to catastrophic
outcomes, eroding shareholder trust and diminishing customer value. It’s time to face these harsh realities and take
decisive action to avoid similar pitfalls.

Common Pitfalls and Missteps — “Why Enterprises Fail”

There are many potential pitfalls. Here are a few of the most common:

• Misalignment with Business Goals: When IT investments don’t match business objectives, it’s a recipe for disaster.
  Projects miss the mark, resources get wasted, and stakeholders get frustrated. Align tech with core goals to
  avoid this mess.
• Lack of Real-Time Data: Making
  decisions without real-time data is like sailing without a compass. Outdated info leaves you lost. Real-time
  data is essential for quick, informed decisions. Without it, you’re flying blind.
• Inefficient Resource Allocation:
  Poor resource management is a major roadblock. Misallocated resources lead to delays, budget overruns, and
  failed projects. Allocate smartly to hit critical initiatives and boost success.
• Inadequate Risk Management:
  Skipping robust governance and accountability is a disaster waiting to happen. Identify risks, plan for
  them, and keep projects on track. Without it, you’re vulnerable to stalled progress.

These common pitfalls highlight the importance of a strategic, data-driven, and
well-governed approach to financial and portfolio management. By addressing these issues head-on, enterprises can
significantly improve their chances of success and avoid the costly mistakes that have plagued so many
others.

And the price of complacency? 

• Wasted Time and Money: This
  waste not only affects the bottom line but also demoralizes teams and erodes confidence in future
  projects.
• Lost Competitive Edge: Failing
  to successfully transform financial and portfolio management processes leads to loss of market share, and
  it’s harder than ever to catch up.
• Stakeholder Dissatisfaction: Shareholders expect returns on their investments, and customers demand seamless,
  efficient services. When you don’t meet these expectations the whole organization suffers.

Put simply, companies that consistently fail this way can’t maintain leadership in the
market. And some may not even survive.

But enough bad news. 

The Path to Rejuvenation — “Reignite Your Transformation Efforts”

Here’s what a focus on ITFM and SPM in the modern organization has provided for Cprime
clients—and it can do the same for you.

• Strategic Alignment: Align IT
  investments with business goals. Every initiative should hit the mark, maximizing value and cutting waste.
  Connect tech with strategy, drive progress, and hit those targets.
• Real-Time Data Utilization: Use
  tools like Apptio for real-time data. Make swift, accurate decisions. Anticipate challenges, seize
  opportunities, and keep moving forward.
• Efficient Resource Management: Allocate and prioritize resources intelligently. Avoid delays, budget overruns,
  and poor outcomes. Keep monitoring and adjusting to stay efficient.
• Robust Risk Management:
  Implement lean governance to mitigate risks and ensure accountability. Identify risks, develop strategies,
  and establish clear accountability. Be prepared for any challenge and pursue your goals with
  confidence.

To see these results in action, check out what we did for Citizens Bank and Ahold Delhaize.

By focusing on strategic alignment, real-time data utilization, efficient resource
management, and robust risk management, you can reignite your transformation efforts and set your org on a path to
sustainable success. 

It’s time to take bold, decisive action and achieve the financial and portfolio
management transformations your organization deserves.

Cprime’s Proven Solutions — “Why Cprime is Your Best Bet”

Maybe you’re thinking, “I get it—transformations are tough. So what do I DO about
it?”

Well, the best options we’ve found are baked into the ITFM and SPM solutions Cprime
experts have honed through practical experience with clients across borders, industries, and circumstances.

Consider the automotive industry, where Cprime has helped companies rev up their Agile
transformations. By leveraging our expertise and advanced tools, these companies have overcome significant
challenges, achieving remarkable improvements in efficiency, resource management, and stakeholder
satisfaction.

Here’s an example.

We invite you to watch a discussion between Zubin Irani, a Cprime boardmember and former
CEO, and Konstantine Popov, our Head of Enterprise Technology and Financial Management. In this video, Konstantine
discusses how critical it is to align enterprise operating models with new delivery frameworks and the impact of
variable infrastructure costs on financial planning. This is valuable context and practical advice.

Expert Consulting: 

Our strategic consulting is tailored to your needs, aligning your efforts with business
goals. We help you craft a clear strategy and objectives, giving you the visibility and alignment you need to
succeed.

• Visibility and Alignment: Struggling to see the big picture? Our Portfolio Management Solution bridges the
  gap between different levels of your organization, ensuring everyone is on the same page and working towards
  shared goals.
• Prioritization and Decision-Making: Making the right calls is crucial. We provide techniques to make informed
  decisions, helping you prioritize initiatives that align with your strategic goals. No more guesswork—just
  clear, data-driven choices.
• Resource Management: Efficient
  resource allocation is key. Our approach includes portfolio planning and progress tracking, ensuring your
  resources are directed towards the most critical initiatives. Maximize impact, minimize waste.
• Change Management: Change is
  hard, but we make it easier. Our methods for managing changes to initiatives help you navigate the
  complexities of transformation with confidence. Adapt and thrive.
• Communication and Trust:
  Collaboration is essential. We emphasize trust and communication between portfolio managers and
  program/product managers, fostering a culture of collaboration and mutual respect. Work together, win
  together.

Talk to an expert.

Advanced Tools:

We bring together LeanIX and Apptio to give you a unified view of your IT operations and
financial health.

• Unified IT and Financial View:
  LeanIX helps you map, visualize, and optimize your IT ecosystem, while Apptio provides the financial
  insights you need for budgeting and cost optimization.
• Standardized Reporting: These
  tools offer standardized reporting across varied IT projects, tackling the reporting challenges many
  companies face.
• Robust Governance: Our solution
  includes robust governance techniques for managing portfolios of business initiatives, ensuring a strong
  governance framework.
• Data-Driven Decision Making:
  With accurate, up-to-date data, you can make informed, data-driven decisions.
• Agility and Responsiveness:
  Respond dynamically to changing conditions while maintaining strategic alignment. 

Learn more.

Implementation and Support:

We’re with you every step of the way to ensure your transformation efforts are
successful and sustainable.

• Comprehensive Support: From the
  initial setup to ongoing optimization, we tailor our approach to fit your needs.
• Apptio Targetprocess: Leverage
  Apptio Targetprocess to provide visibility and empower data-driven decisions.
• Custom Implementation: Whether
  it’s a quick launch or a custom implementation, we ensure minimal disruption and maximum impact. 

Discover our approach.

Don’t let your enterprise continue to waste time, money, and effort. Rejuvenate your
digital transformations today by leveraging the latest in IT Financial Management and Strategic Portfolio Management
tools and best practices. Your shareholders and customers deserve nothing less. 

It’s time to stop accepting defeat and start achieving the success your organization is
capable of. Let’s make it happen together.