Beyond the need to comply with current regulations, data integrity (or Good Information Practice) makes sound business sense.
For example, migrating batch release approval from a signed paper-based system to a fully electronic format offers clear advantages in terms of greater efficiency, easier information sharing, improved transparency and generating records in long term preservation-ready format.
Business benefits become even more pronounced for multisite and global companies. Often, each site operates as its own information island. There are no common processes or business rules for capturing, handling and securing data, and the opportunity to exploit global best practice is lost.
In this situation there are obvious performance and financial gains to be won by introducing a validated and simplified framework for company-wide data management.
However, the real business opportunity lies is in how you reach that goal.
Rather than a traditional waterfall approach, an agile risk-management approach leads to better performance and earlier ROI.
It allows you to prioritize and assign resources during a value-oriented planning phase. In turn, this enables quicker start up and more flexible delivery, with the ability to build in knowledge and learning as the project progresses.
- Reduce risk by incremental launching
- Reduce initial startup costs
- Better liquidity, easier to finance
- Reach break-even sooner by delivering value earlier and more frequently
An agile risk-management approach reduces risk and provides an earlier return on investment.