When Disruption Rules, Agility is the Key to Success
We are doing business in a disruptive climate. Changes in commercial real estate that once took generations now come about in a flash, driven by the speed and pervasiveness of the Internet itself, globalization, digital transformation, regulatory shifts and innovative new forms of competition. Think of how Uber transformed the taxi industry worldwide, how Airbnb disrupted the lodging business, and how Netflix decimated Blockbuster and is threatening cable next – seismic shifts all accomplished in under a decade. Bottom line: the only thing we can count on is change itself.
Is Your Lease Management/Accounting Solution Agile Enough?
In the more stable business world of the past, lease management/accounting solutions were chosen for fit and functionality. Those features are far less valuable in today’s change-oriented environment where a company’s ability to respond, innovate and evolve quickly is essential, not just for success but for survival. Just a few years ago, you probably would have relied on adapting the source code of your lease management/accounting software if you needed to meet new needs. That meant invasive and time-consuming programming changes, an approach that is now simply too slow. What today’s businesses require are agile solutions that are configurable, allowing you to personalize and tailor changes according to the individual needs of your business.
Cindy Jutras, a recognized expert in analyzing the impact of enterprise applications on business performance, identified today’s 10 most-needed types of customization in her Mint Jutras 2016 Enterprise Solution Study. They include:
- Add custom reports to menus, portals, etc.
- Create ad hoc reports and queries on demand
- Add user defined data fields
- Construct personalized dashboards with drill-down capabilities
- Construct personalized portals, combining functions needed for individual roles
- Personalize transaction screens for look and feel
- Tailor pre-defined work flows and/or construct your own
- Apply custom logic to or change processes included in existing functionality
- Add or change data models or structure of functions
- Develop entirely new features/functions not likely to be included in commercially available software
Any modern system worth its salt should deliver the first seven of these without any invasive code changes, Jutras writes. You might want to ask yourself if your current lease management/accounting solution can handle those seven changes without getting into your source code.
You Can’t Halt Disruption, but You Can Handle it
Now is the time to analyze the agility of your current lease management/accounting solution. Start by asking the following questions:
- Does your solution help you respond to change?
- Can you easily connect new services or components to it?
- Can you adapt it by configuring or tailoring?
If you answered no to the above, you don’t have the proper support you need to thrive in our disruptive business climate. It’s time to shop around for a more agile solution.
As Jutras observes, “You may not be able to accurately predict what the future holds, but with an agile solution, you can be ready for anything.” Get more expert insights in her free white paper, “The Value of Agility in ERP During Disruptive Times.”