Organizations that invest in their digital capabilities are “future-ready” and achieve an average net margin of 19.3% above their industry mean according to industry research by MIT CISR and Alix Partners. Here’s how to select and implement enterprise software to support your company’s growth.
“People / process / tools” is a widely-used framework designed to help dissect the building blocks of your business – to better understand who does what, how they complete a given task, and what tools are used to complete it. While we believe the three pillars are equally important, we often see organizations prioritize people and process – and overlook (or delay) an investment in enterprise technology tools as their business scales. Without a cohesive corporate technology stack, high growth companies may find themselves working from an incomplete or inaccurate picture of their customer base or unable to make timely, data-driven decisions. At Summit, we support the selection and implementation of dozens of new business systems each year, on average, to provide foundational support for our portfolio companies’ growth ambitions. If you believe your technology is holding you back and you want to unlock new growth potential, the five principles below offer a framework for selecting and implementing enterprise-grade technology.