Asset-intensive companies that are on the lookout for ways to improve the functionality of their EAM (Electronic Asset Management) or CMMS (Computerized Maintenance Management Systems) often run into the same issue: employees find a solution that works for them but have a difficult time getting the big wigs on board. This is understandable: executives want to be sure that the investment is sound and to know that money is not wasted on something that is ineffective.
A hefty part of this problem stems from higher-ups who are unable to see the business value of such a service. This leads to larger issues, such as the uncertainty of the financial benefit of a data cleansing project or trying to fit it into tight budget constraints.
Financial benefit is an important aspect over purchasing a new service. Upper management wants to know that the capital they commit will either improve efficiency or save them money, preferably both. Since data cleansing projects are not cheap, highlighting the rewards of such a service is crucial.
When companies fall under tight-budgeting or are looking to reduce expenditure, it can also be a challenge to convince board members. If they choose not to recognize data quality organization as a pressing issue they will instead choose to invest elsewhere. Senior management needs to see an immediate return on interest as well as the benefit to their employees.
Get Management Involved
If you are already in contact with a company that provides a data cleansing software solution, invite decision makers to the demonstrations. Through inclusion, finance staff will be able to see key features of the product and assess its value to the company. The earlier the exposure to the prospect of new software, the more they are going want to invest in it.
Furthermore, it creates the opportunity for senior staff to ask important questions or request additional details, which will aid in their decision – making. Hearing a credible business case straight from the source is typically more effective than second-hand knowledge.
Provide Answers to Regular Questions
If you are unable to get anyone above you on the field, look for the benefit in the service you are interested in. Ask big questions surrounding Return on Assets (ROA), how time is saved, the timeframe for ROI (Return on Investment), and compliance with government regulations. By providing answers to important and typical inquiries that executive members will request, you will be pitching this commodity to your company in a personable and effective manner.
How Can NRX Help?
NRX AssetHub provides software solutions to sustain and improve Data Quality for EAM and CMMS Systems. Interfacing with popular systems such as SAP, we work with day-to-day and executive employees at asset-intensive companies to ensure that our product is tailored to our clients. We provide demonstrations of our software to highlight its capabilities as well as to answers questions that come from potential customers. If you would like to know more about how our solution can help you, book a Demo or contact us at 1-877-603-4679.
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