Business Case Analysis
4SIGHT’s experts can help. When our clients need objective and detailed analysis before committing capital to a project, they bring us in to understand the opportunities, weigh the alternatives and select the best approach. We help:
- Identify savings opportunities
- Prioritize opportunities based on savings potential, work effort, and payback period
- Understand total cost of implementation and ownership
- Determine project risks
- Provide detailed recommendations based on the uniqueness of your omni-channel opportunity and 4SIGHT’s experience with similar initiatives.
- Identify quantifiable and qualitative benefits.
The first step in the Omni-Channel business case is identifying the “groundwork” that needs to be established within the IT operations to support the potential deployment of new systems. This effort will focus on the identification of process changes and system functionality that, if implemented, will result in significant improvements to visibility, cost transparency and reduction, improved efficiency, more seamless communications, and leveraging the data generated by all systems to support analysis and reporting. We will analyze current retail IT operations to identify and prioritize areas of opportunity that support a viable business case for an omni-channel deployment.
The objective of the Omni-Channel Business Case is to determine the costs (internal and external) of implementing the potential software solution and calculate the return on investment (ROI) for the benefits of the implementation. The study will focus on how the omni-channel software will reduce costs, optimize customer service, increase productivity, track inventory and accommodate expected growth as we prepare the cost justification based on identifying quantifiable benefits. Key steps in the Omni-Channel Business Case include:
- Gather the base data necessary for preparation of a report relating to the cost justification analysis. Determine the estimated total deployment cost including software, hardware, vendor services, 4SIGHT services and maintenance.
- Determine the estimated quantifiable savings opportunities made possible through the deployment of the omni-channel software solutions.
- Determine the “soft” or non-quantifiable benefits derived from the omni-channel solutions. Often these gains can be difficult to quantify, but are significant.
- Based on the estimated total deployment cost and the estimated quantifiable savings, develop the cost justification for the omni-channel initiative.
- Interview key business stakeholders to gain an understanding of the short and long-term strategic plans.