Apac
  • Home
  • CXO Insights
  • CIO Speaks
  • Partner Conferences
  • Newsletter
  • Subscribe
  • News
  • About us
Apac
  • Agile

    Artificial Intelligence

    Augmented Reality

    Big Data

    Blockchain

    Cloud

    Cyber Security

    DevOps

    Digital Technology

    Enterprise Security

    HPC

    Internet of Things

    IT Services

    Mobility

    Networking

    Open Source

    POS

    QA and Testing

    Robotics

    SaaS Solutions

    Security

    Simulation

    Smart City

    Startup

    Storage

    Unified Communication

    Virtualization

    Web Development

    Wireless

  • Automotive

    Aviation and Aerospace

    Banking

    Compliance

    Construction

    Contact Center

    E-Commerce

    Education

    Energy

    Engineering

    Field Service

    FinTech

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Telecom

    Travel and Hospitality

    Utilities

  • Amazon

    CISCO

    Dynamics 365

    Google

    HP

    IBM

    Intel

    Microsoft

    Microsoft Azure

    Oracle

    Red Hat

    Salesforce

    SAP

    Share Point

    VMware

  • Business Intelligence

    Business Process Management

    CEM

    Cognitive

    Collaboration

    Corporate Finance

    CRM

    Data Center

    Disaster Recovery

    Document Management Systems

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Performance Management

    ERP

    Fleet Management

    Gamification

    Geographical Information System

    HR Technology

    IT Service Management

    Managed Services

    Payments

    PLM

    Procurement

    Project Management

    Risk Management

    Sales and Marketing

    Workflow

Menu
    • Amazon
    • Banking
    • Blockchain
    • CISCO
    • Cognitive
    • Compliance
    • Contact Center
    • Cyber Security
    • DevOps
    • E-Commerce
    • Field Service
    • Gov and Public
    • Healthcare
    • HR Technology
    • IoT
    • Managed Services
    • Manufacturing
    • Metals and Mining
    • Microsoft
    • Oracle
    • Pharma and Life Science
    • Retail
    More
    Cyber Security DevOps E-Commerce Field Service Gov and Public Healthcare HR Technology IoT Managed Services Manufacturing Metals and Mining Microsoft Oracle Pharma and Life Science Retail
    ×

    Subscribe to our Newsletter

    news
    news

    Join our mailing list for the latest articles, news, and exclusive insights from prominent technology leaders

    loading
    SUBSCRIBE

    Thank You for subscribing with us. We sent you an email regarding this.

    news

    • Home
    • FinTech
    Editor's Pick (1 - 4 of 8)
    left
    IT Service Delivery Models Evolving with Business

    Todd Larson, CIO, Sentinel Benefits & Financial Group

    Managing Digital Transformation by IT and Security Teams

    Elena Kvochko, CIO-Group Security Function, Barclays

    Moving towards Banking and Fintech Partnership

    Peter Clark, Regional CIO, Standard Chartered Bank Technology and Operations, Hong Kong

    Technology and Business Conscience Collision

    Winston Benedict, CIO, Dentsu Aegis Network ANZ

    eMortgage, The Next Big Thing is Already Here: Make it Bigger

    Nafees Ahmed, CIO, Indiabulls

    Current Technology Issues/Trends

    Tim Thurman, CIO, Australian Securities Exchange (ASX)

    E-Mortgage, The Next Big Thing is already here: Make it Bigger

    Nafees Ahmed, CIO, Indiabulls

    Why Fintech Needs a Human Core

    Tim Schaefer, EVP - Client and Digital Experience, Northwestern Mutual

    right

    Enabling Business Transformation

    By Thomas W. Sweet, SVP & CFO, Dell

    Tweet
    content-image

    Thomas W. Sweet, SVP & CFO, Dell

    Dell has played a significant role in transforming computing, enabling affordable and more pervasive access to technology around the globe. And over the last five years, four major technology trends have forced customers to rethink their entire IT infrastructures–Cloud, Big Data, Mobility and Security–and ultimately created an environmental shift that drove the strategic evolution of Dell’s business model.

    "We created the Business Architecture Team (BAT), a group of leaders responsible for the integrated systems and process blueprint to accelerate our evolution to an end-to-end solutions provider"

    Dell began as a PC hardware company with a build-to-order model and started its shift to become a leading end-to-end solutions provider more than five years ago based on incorporating customer feedback about their needs for broader, standards-based, open solutions to help them better solve their business issues. Since then, Dell has rapidly expanded its capabilities through a series of acquisitions as well as through organic investments resulting today in a $57 Bn revenue company–almost half of which is generated by businesses in client cloud computing, enterprise data center solutions, security, software and services. Our traditional client business of notebooks, tablets, and desktops continues to be an important and strategic part of our solution portfolio. 

    As the business model of Dell advanced, it became apparent very quickly that our financial infrastructure needed to evolve to support these new, solutions-based capabilities. I use the term financial infrastructure deliberately as all of our transaction cycles–order-to-cash, procure-to payment, employee compensation, including variable incentive structures, and our core general ledger capability–needed to change. These modifications to our infrastructure included core system functionality enhancements, expanded data models, reporting capabilities and significant business process re-engineering. Making these changes has required, and will continue to need, a significant amount of effort and investment. As we have gone through our growth and evolution to a solutions company, we have learned a number of valuable lessons that we continue to build upon. Our experience has led us to better understanding of what it takes to transform the infrastructure of a large multi-national company that does business in more than 180 countries and facilitates nearly a million customer interactions and transactions daily.

    I thought it would be informative to highlight some of our learnings as they’ve helped us to deliver better results and value to our customers.

    •    Understand where the business is going.

    This seems pretty basic, but is actually hard to do in practice as a company evolves. We have learned to more effectively leverage investments and resources to clearly understand  the planned business model changes and fully vet what the transaction and business process impacts are. For instance, in selling solutions, ensuring we work with the sales  organization and solution development teams to try to understand how the go-to-market motion changes, what data elements should be captured, the processes and system  interaction model, and how the back office transactions systems need to utilize the data to provide the information needed to record, fulfill, invoice, collect and service the customer. Over time, we have learned some of our original assumptions regarding the systems, processes and data elements were no longer valid and needed to be modified. To strengthen our over sight and governance, we created the Business Architecture Team (BAT), a group of leaders responsible for the integrated systems and process blueprint to accelerate Dell’s evolution to an end-to-end solutions provider. The BAT has been an integral part of our organization as we realize it’s important to invest the resources and time early on in the planning process to learn as much as we can.

    • Avoid customizing the core  financial systems wherever possible.

    For years at Dell, we customized our purchased IT applications or defaulted to building our own because of our differentiated business model. While that may work well in a relatively stable industry, it adds enormous complexity, cost and time when you are trying to rapidly transform a company and the systems infrastructure. We have swung 180 degrees on this and now default to no customization and making it work with the standard functionality when ever humanly possible. While you rarely can get away from customization entirely, we  focus on making sure we exhaust all avenues before we go down this path. Limiting customization creates a more efficient upgrade process, provides improved flexibility and reduces vendor support costs. The importance of standardizing our global systems has heightened knowing that we will need flexibility in our system design as the business continues to evolve.

    • Force the organization to look at the business processes.

    It’s important to have the discipline to really look at the processes, usage model and environment that surrounds the system or application. Otherwise, it can lead to wasted investment dollars and systems that don’t exactly meet your business needs or are designed around the “as is” business process. At Dell, we have strengthened our approach over the years and have a much more holistic methodology to our infrastructure that focuses on business process redesign as well as system functionality. But to do this, you need to ensure a few things, which lead me to my final point.

    • Devote the resources and leadership talent.

    We have learned over the years that to do this right for big, high impact programs, there needs to be a named high-caliber executive leader whose sole responsibility is to get the program done and done well. Taking key talent out of their normal job and making these programs their full-time job has been a very effective way to ensure that we get the right focus and accountability. The same is also true for resources–devote the right level of resources, which in many cases means moving strong subject matter experts to these programs full  time. This has been one of the most effective ways to drive success. It may put a strain on the organization, but we have learned to resist the “part-time or night job” mentality.

    Business model shifts and corresponding infrastructure is never easy and in the technology solutions industry, is just the reality of the business. Getting the most out of your investment dollars and positioning the business, and our customers, to be successful are what drive our decisions at Dell.

    Read Also

    Why Fintech Needs a Human Core

    Why Fintech Needs a Human Core

    New Alliances Will Drive FinTech Innovation

    New Alliances Will Drive FinTech Innovation

    Fintech 2.0 - What Does this mean for Financial Institutions?

    Fintech 2.0 - What Does this mean for Financial Institutions?

    The Fintech Transformation - Challenges & Opportunities

    The Fintech Transformation - Challenges & Opportunities

    25 Hottest Fintech Companies - 2018

    25 Hottest Fintech Companies - 2018

    Top 25 Fintech Companies - 2017

    Top 25 Fintech Companies - 2017

    10 Most Promising Finance Technology Solution Providers

    10 Most Promising Finance Technology Solution Providers

    25 Most Promising Financial Technology Solution Providers

    25 Most Promising Financial Technology Solution Providers

    Featured Vendors

    entrust datacard

    Todd Wilkinson, President and CEO

    Fastacash

    Mark Carter, GM & COO

    FinTech Special

    Copyright © 2019 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://fintech.apacciooutlook.com/cxoinsights/enabling-business-transformation-nwid-255.html