A business case for technology is different than any other case. It requires significantly more research and planning and should be based on a detailed study of the benefits of the proposed implementation. You need to identify all possible scenarios and quantify them objectively.
A business case can be used to justify your need for technology, whether it’s a new product or service, a software upgrade or the purchase of new hardware. A successful business case will convince stakeholders that implementing technology will improve operations and is worth the cost. You should provide enough detail so that all stakeholders are comfortable with the proposed implementation.
Technology is a critical part of most businesses today. But it's not enough to get it and start using it; you need to know that the technology will make your business stronger, more efficient or more profitable. You might think that making a case for a new piece of technology sounds like a no-brainer, but it can be tricky. There are many things to consider when making a business case for new tech. If your company is involved in high-growth industries and operating with high speeds then you will want to ensure that your high-tech investments can keep up with the demands of your industry. If you're in a highly regulated industry, then it may be worth investing in technologies that reduce costs and errors, but only if those cost savings balance out the initial investment. So, how do you make a successful business case for technology?
The following are some simple tips for creating a successful technical business case that doesn't get ignored by your executives.
1. Why are we doing this? What are we trying to achieve? What are the risks involved? As you begin the creation of a business case, understanding the problem that needs to be solved is crucial. Many business cases are built around solving innovation issues or preventing future pitfalls. It’s important for everyone involved in the project to know what challenges you are trying to solve. Once you have a clear understanding of that problem:
- Who is our customer/audience? Determine who will benefit from this solution and how many people will benefit, whether more than one person will be able to use the product or service.
- Organize all that information into a detailed format that is easy for others to read and buy into your idea.
2. The next step in creating a business case is to determine what resources are needed for your project. This includes both financial and human resources, such as employees and consultants. You should also determine how much time it will take to complete your project, as well as how much money it will cost to implement the changes you are proposing.
3. Once you have identified what resources are needed for your project, you should evaluate how much money these resources will cost over time. This includes both direct costs (such as salaries) as well as indirect costs (such as office supplies). It is important that you consider both short-term and long-term costs when determining how much money will be spent.
4. Where do we go from here? The final step in creating a business case is to assess whether or not it makes sense financially for your company to invest in the project or initiative. You can do this by comparing the costs associated with implementing this change with the expected benefits associated with making those changes.
How Can ACG BAE Help?
ACG BAE is an easy-to-use tool that allows customers to create technical business cases visually and quickly. Unlike other tools on the market, ACG BAE allows you to create simple or complex business models simply by dragging and dropping and allowing customers to build models like Lego blocks. You can create your technical business case in minutes instead of weeks or months.
ACG BAE is a unique tool to help organizations reduce the risk on investment in technology for their company. We offer a free demo of our solution and advice for how you can use it to improve your business outcomes. Contact Ray Mota at firstname.lastname@example.org today for a private demo.