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Realizing Faster Value From Technology Projects

Realizing faster value from technology has become critical for financial services (FS) firms.  New data proves that those firms that quickly realize value from technology projects see an increased impact on their business.  By moving from a speed of “slow” to “fast” on CEB’s Speed to Value Curve, a typical firm will gain 4% in revenue, on average.

Our research shows the unique steps that it takes to move from being a slow company to a fast company. Learn more in our executive summary, and access related resources below.

Click each segment of the Speed to Value Curve to view the profile of the executives at that level of speed and the most effective action steps to become faster.

Slowest

Executive profile

Laying the foundation: These executives are laying a foundation for faster project speed by changing the design of existing roles in IT and identifying common project bottlenecks.

How to move to “slow”

Update IT staff recruitment and hiring to focus more on the skills needed for fast technology value.

StatShot

  • The impact of moving to “slow” is a 2.5% gain in revenue, on average.
  • Only 8% of “slowest” firms say that 75% of their technology projects are completed on time.

Slow

Executive profile

Building teams: These executives are focused on recruiting and hiring the right people and organizing IT team structures to be more efficient.

How to move to “moderate”

Simplify sourcing procedures by scaling down due diligence for lower-risk vendor relationships.

StatShot

  • The impact of moving to “moderate” is a 2% gain in revenue, on average.
  • Only 11% of “slow” firms say that 75% of their technology projects are completed on time.

Moderate

Executive profile

Simplifying processes: These executives focus on reducing unnecessary process complexity by taking steps such as simplifying budgeting decision making, scaling down unnecessary due diligence of low-risk vendors, and eliminating common project bottlenecks.

How to move to “fast”

Enhance the accessibility and usefulness of data to provide quicker and easier access to information.

StatShot

  • The impact of moving to “fast” is a 2.1% gain in revenue, on average.
  • A full 23% of “moderate” firms say that 75% of their projects are completed on time.

Fast

Executive profile

Streamlining practices: These executives are focused on making systems, services, and data easier and quicker to access, using such steps as enhancing data management, providing staff with mobile access to systems, and building more opportunities for business "self-service" of technology services.

How to move to “fastest”

Educate business leaders about emerging technology opportunities.

StatShot

  • The impact of moving to “fastest” is a 2.6% gain in revenue, on average.
  • A full 28% of “fast” firms say that 75% of their projects are completed on time.

Fastest

Executive profile

Designing adaptive technology: These executives increase the flexibility of staff and processes to allow judgment, and educate staff and leaders to use technology more effectively; they adapt quickly and continually to emerging technological change.

How to become even faster

Align your metrics and message with speed by telling a consistent story, giving the business context for speed, and adding speed to IT’s scorecard.

StatShot

  • Of the “fastest” firms, 55% have ROI above targets, compared to 32% of “fast” firms.
  • A full 61% of “fastest” firms say that 75% of their projects are completed on time.

Related Resources