Riaz Raihan, Infor, at Inforum 2014 with Dave Vellante and Jeff Kelly
@theCUBE
#Inforum14
According to one executive, most people don’t quite understand value engineering. In an interview for theCUBE at the recently concluded Inforum conference, Infor, Inc. Chief Solutions Officer & SVP of Value Engineering Riaz Raihan explained the concepts behind value engineering, and how customers can use it to ensure true business value from their software investments.
Getting Started
When getting customers started with value engineering, Infor conducts a value discovery. This means that the company spends time with customers on site and at corporate as well documents their strategies to determine what metrics they want to move. Infor then loads all of this gathered information into its Infor Value Manager (IVM), a real-time tool that gives customers the ability to figure out how changes made to the business impact their income statement and balance sheet. “You’re not just getting a PowerPoint deck that’s static and fixed in time. You’re actually getting something that’s dynamic and evolves with time,” Raihan added.
Infor’s Three Step Process
Raihan stated that Infor takes a three step process to measuring value. The first step is figuring out key performance indicators (KPIs) and metrics that matter to a company in that industry. Infor establishes what a company’s improvement baseline is by doing baselines across different metrics. For companies with more than one business, Infor does baseline metrics across businesses and departments. Another methodology that Infor uses is called benchmarking, in which the company works with the American Productivity & Quality Center (APQC) to create industry benchmarks and metrics that lets customers look at themselves objectively.
The next step is determining how the needle can be moved on each of those indicators. Finally, Infor builds out a roadmap that allows customers to implement the software, then measure how much the needle moved on the KPIs.
When Things Go Wrong
Raihan admitted that things go wrong all the time, but that this is where project management comes in. If customers continue on a wrong path and don’t make the kind of changes set forth from Infor’s value engineering strategy, then they’re not going to get the kind of results they expect or deserve. Value management, a process that offers more than analytics, details why something happened and what’s likely to happen. “We want to be able to give customers foresight, not just hindsight,” said Raihan.
The Results
As opposed to a deck with a static Excel sheet, value engineering offers customers a robust analysis that gives a clear understanding of business issues and recommends how those issues should be addressed – whether it be through a process change, technology change or combination of the two. Customers get a quantified benefit and business case that shows, in dollars and cents, the value of solving business challenges.
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
Infor Inforum 2014 | New Orleans. If you don’t think you received an email check your
spam folder.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Register For Infor Inforum 2014 | New Orleans
Please fill out the information below. You will recieve an email with a verification link confirming your registration. Click the link to automatically sign into the site.
You’re almost there!
We just sent you a verification email. Please click the verification button in the email. Once your email address is verified, you will have full access to all event content for Infor Inforum 2014 | New Orleans.
I want my badge and interests to be visible to all attendees.
Checking this box will display your presense on the attendees list, view your profile and allow other attendees to contact you via 1-1 chat. Read the Privacy Policy. At any time, you can choose to disable this preference.
Select your Interests!
add
Upload your photo
Uploading..
OR
Connect via Twitter
Connect via Linkedin
EDIT PASSWORD
Share
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
Infor Inforum 2014 | New Orleans. If you don’t think you received an email check your
spam folder.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Sign in to gain access to Infor Inforum 2014 | New Orleans
Please sign in with LinkedIn to continue to Infor Inforum 2014 | New Orleans. Signing in with LinkedIn ensures a professional environment.
Are you sure you want to remove access rights for this user?
Details
Manage Access
email address
Community Invitation
Riaz Raihan | Inforum 2014
Riaz Raihan, Infor, at Inforum 2014 with Dave Vellante and Jeff Kelly
@theCUBE
#Inforum14
According to one executive, most people don’t quite understand value engineering. In an interview for theCUBE at the recently concluded Inforum conference, Infor, Inc. Chief Solutions Officer & SVP of Value Engineering Riaz Raihan explained the concepts behind value engineering, and how customers can use it to ensure true business value from their software investments.
Getting Started
When getting customers started with value engineering, Infor conducts a value discovery. This means that the company spends time with customers on site and at corporate as well documents their strategies to determine what metrics they want to move. Infor then loads all of this gathered information into its Infor Value Manager (IVM), a real-time tool that gives customers the ability to figure out how changes made to the business impact their income statement and balance sheet. “You’re not just getting a PowerPoint deck that’s static and fixed in time. You’re actually getting something that’s dynamic and evolves with time,” Raihan added.
Infor’s Three Step Process
Raihan stated that Infor takes a three step process to measuring value. The first step is figuring out key performance indicators (KPIs) and metrics that matter to a company in that industry. Infor establishes what a company’s improvement baseline is by doing baselines across different metrics. For companies with more than one business, Infor does baseline metrics across businesses and departments. Another methodology that Infor uses is called benchmarking, in which the company works with the American Productivity & Quality Center (APQC) to create industry benchmarks and metrics that lets customers look at themselves objectively.
The next step is determining how the needle can be moved on each of those indicators. Finally, Infor builds out a roadmap that allows customers to implement the software, then measure how much the needle moved on the KPIs.
When Things Go Wrong
Raihan admitted that things go wrong all the time, but that this is where project management comes in. If customers continue on a wrong path and don’t make the kind of changes set forth from Infor’s value engineering strategy, then they’re not going to get the kind of results they expect or deserve. Value management, a process that offers more than analytics, details why something happened and what’s likely to happen. “We want to be able to give customers foresight, not just hindsight,” said Raihan.
The Results
As opposed to a deck with a static Excel sheet, value engineering offers customers a robust analysis that gives a clear understanding of business issues and recommends how those issues should be addressed – whether it be through a process change, technology change or combination of the two. Customers get a quantified benefit and business case that shows, in dollars and cents, the value of solving business challenges.
