Most of us have gone through our share of business process and technology improvement initiatives. Companies invest significant capital and time into them in hopes of cost savings or improved productivity and efficiency. The irony is that most can’t estimate a measurable Return on Investment (ROI) from these projects. Typically it’s because a critical step was missing before kicking off their initiatives—defining and measuring success. Companies need to set measurable business goals and objectives and define associated Key Performance Indicators (KPIs) from the start. Once these are established, they should consider investing in cloud-based digital technologies and leading practices to help deliver strong KPIs right out of the gate and to drive continuous improvement.
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