Digitization is the name of the game for modern global organizations. Shifting business models, evolving customer behavior and an increasingly hybrid workforce have made it imperative for organizations to intensify their digitization efforts. However, organizations know that simply choosing modern tech solutions is not enough. They need data-driven insights for leveraging the right technologies to grow their business profitably.
Replicon was in Las Vegas, USA as a Platinum sponsor of TSIA World: ENVISION 2022 to explore these business transformation insights as shared by some of the leading experts and professionals from across the globe.
Exploring Technology Breakthroughs at TSIA World: ENVISION 2022
Held from October 17 to 19, 2022, TSIA World: ENVISION brought together the cutting edge of technology leaders to deliver data-driven insights to grow profitability. There were 100+ sessions hosted by industry leaders and experts from around the world.
Visitors to the event gained industry-validated data and insights on topical challenges that modern organizations face. They were also able to explore modern technologies designed to upgrade an organization’s strategic capabilities from global companies such as Replicon and more!
Exclusive Technology Solution Session
As the Platinum sponsor of the event, Replicon hosted an exclusive technology solution session titled, “Are Siloed Systems Your Worst Nightmare? Say Goodbye to Data Silos with a Self-driving PSA.” The session focused on eliminating data silos, one of the biggest challenges that modern organizations are facing.
The Challenges Caused by Data Silos
Despite knowing that there are operational inefficiencies, organizations are simply unable to get the right data at the right time.
It is common for organizations to have their data on projects, resources, and time stuck in different siloed systems. Inevitably, this creates a lot of confusion as to which bit of data is the correct one. Different functions, such as project delivery, finance and HR, all have their own colored glass. They have their own challenges, purpose-built solutions, and customized processes.
With silos all around, it is not surprising that different teams, departments and leaders find it difficult to agree on a single source of truth for data across the entire organization. Of course, it also means that they are unable to make impactful decisions to improve results.
Moreover, with an increasingly hybrid workforce and the proliferation of digital apps, data silos are becoming a much bigger problem. It is difficult for leaders to accurately identify the tasks on which their people are spending time on, and what other tasks they are capable of doing.
Some of the key challenges caused by data silos include:
- Underutilized resources
- Billing errors
- Project complexity
- Inability to forecast hiring
To discuss how organizations can overcome data silos, Replicon invited two esteemed clients to share their transformation journeys.
The Business Transformation Story of Zaloni Inc.
Representing Zaloni Inc. was Faisal Zafar, Global Director Professional Services.
Zaloni Inc. is a product company whose flagship product, Arena, is a data management platform designed to help organizations govern and manage their data across multiple platforms.
Before their transformation, Zaloni Inc. was using multiple disjointed systems for time tracking, project management, employee data, invoicing, etc. They even used spreadsheets for reporting. While each system worked well, they spent a lot of manual effort in synchronization. This led to several issues.
Resource allocations were determined at the last minute based on need and availability rather than skills which were usually distributed unevenly. Hiring decisions were mostly based on gut feel instead of data. Zaloni Inc. realized the need for proper technologies to support utilization management, project planning, accurate billing and even time tracking. There were delays in financial costing, challenges with revenue recognition, and a lack of program management across projects. Employees were being recognized for the time that they spent on tasks instead of the value that they delivered. Overall, the organization also experienced a fragmented customer experience.
To solve these challenges, Zaloni Inc. began its search for a professional services automation (PSA) platform. They chose Polaris PSA, the world’s first self-driving PSA from Replicon. With Polaris PSA, Zaloni achieved the benefits listed below.
- Balanced skill distribution
- Improved hiring based on skills
- Documented the time-tracking process, allowing users to realize value delivered against time spent
- Automated revenue recognition for multiple project types for ASC 606 compliance
- Implemented and enabled a resource allocation system for improved forecasting
- Integrated PSA with various systems (HR, PM, accounting, etc.) for a single source of truth
- Improved cross-team transparency
- Enabled data-driven decision-making
The Business Transformation Story of Readiness IT, S.A.
Readiness IT, S.A. was represented by Carlos Paiva, Portfolio Manager – IT.
Readiness IT specializes in the Telco industry, providing high-value technological services for Communications Service Providers.
Before embarking on their transformation journey, Readiness IT was experiencing one of the most common problems facing global organizations today – data silos. There was a lack of visibility that made it impossible for them to have the right data at the right time.
Significant amounts of time were spent on collecting data manually on spreadsheets to generate reports. As was to be expected, these reports were never compiled with real-time data and, sometimes, even had inaccuracies. Resource management was also performed manually.
With people being the most critical asset for Readiness IT, the solution that they would choose would have to support robust resource management. In addition, they needed a solution that could help them manage project performance and service delivery. Revenue recognition was a priority as well. Readiness IT also realized that it was time for them to overhaul other systems such as time tracking, project planning, and invoicing, etc.
Ultimately, Readiness IT found that Polaris PSA could solve all of their challenges. Additionally, Polaris PSA could help them develop and promote a common culture consistent across all their locations. They needed the correct balance among people, processes and tools, which Polaris PSA helped them to achieve. The benefits Readiness IT achieved are as follows.
- Streamlined resource request workflows as per Readiness IT’s staffing process
- Ensured accurate visibility into resource availability
- Automated revenue recognition with support for industry standards
- Achieved powerful analytics for business profitability, project health and billability
- Provided flexible dashboards with options to connect to business intelligence (BI) tools of their choice
Say Goodbye to Data Silos With a Self-driving PSA
Polaris PSA takes a new approach to professional services automation by actually making it easier for leaders to make the tough decisions. It does the heavy-lifting by analyzing data in real time and recommending the best possible choices. Polaris is a self-driving PSA that helps you eliminate data silos.
SmartBeats – Go Beyond “On-demand”
The foundation of Polaris is the SmartBeats system which continuously collects data from users and work systems and automatically delivers real-time visibility into an organization’s workflow, with live information on projects, resources, and time. Leaders get alerts on the live pulse of their business, enabling them to proactively make the right decisions.
MissionControl – Function-Based Harmony to Eliminate Silos
One of the most critical features of Polaris PSA is the MissionControl center that delivers 100% accurate real-time data with a function-based view tailored to each business leader. Since it operates on a shared data platform, there are no data silos, ensuring harmony across teams.
SmartMatch – For All Resourcing Needs
Polaris PSA provides a single platform to manage all things resourcing, from skills to utilization to availability to allocation. SmartMatch provides intelligent recommendations based on what resources are doing, their skills, and even how suitable they are for a given task.
Common Data Platform – To Eliminate Revenue Leakage
Polaris PSA operates on a common data platform that allows organizations to manage all project financials in a centralized system. This makes it easier to identify missed opportunities and problem areas for eliminating revenue leakage.
Break Data Silos With the Modern Ecosystem Blueprint
Polaris PSA is a part of Replicon’s Knowledge Workforce Management Solution that provides a comprehensive single source of truth for people, projects, skills and time data.
Powered by ZeroTimeTM technology, the platform seamlessly automates data capture using pre-built apps or bots. Functional capabilities like resource management, time & expense, global compliance project accounting, project & portfolio management and revenue management are layered on top of this strong data platform to deliver powerful business insights in real time.
Replicon Knowledge Workforce Management Solution is designed to seamlessly integrate and operate within an organization’s ecosystem. As it is 100% plug & play architecture, the platform can be connected and configured with hundreds of front-end apps and tools, along with back-office systems such as ERP, CRM, HCM, payroll and more.
Artificial intelligence (AI) and machine learning (ML) technologies are present in the platform to cleanse, enrich, and harmonize the data. Replicon transforms the harmonized data into a single source of truth for an organization while also ensuring the data is available for other back-office systems in the ecosystem.
The shared data connectivity helps break down data silos, allowing organizations to harmonize project delivery, finance and HR. Organizations get to enjoy outcomes like:
- 100% real-time, accurate data for actionable insights
- 10% rise in resource utilization
- 6X increase in planning horizons
- 10% increase in project profitability
- 90% reduction of administrative overheads
- 100% global wage and hour compliance
Keynote Session: The Re-Engineering of Sales Generation
During the event, Replicon sponsored a keynote session hosted by J.B. Wood, President and CEO of TSIA. The keynote session focused on the need to do things far differently to generate revenue effectively and efficiently.
With falling capitals and rising labor costs, organizations are concerned about their ability to grow revenues profitability. Increasingly, organizations are realizing that efficiency in sales is no longer about the number of salespeople.
The keynote session discussed the steps that organizations are taking to re-engineer their sales generation processes and how others can follow. It also covered how organizations should reallocate budgets to ensure the growth of not only customer success but also digital customer experience at sales.
Unveiling the World’s First Knowledge Workforce Management Solution at the Replicon Booth
At the booth, Replicon showcased the world’s first Knowledge Workforce Management Solution. AI & ML technologies ensure the highest levels of data accuracy and data quality in real time to provide a single source of truth across people, projects, skills and time, as mentioned below.
- People: Harmonizing HR, payroll, compliance and finance processes
- Projects: Self-driving project and portfolio management
- Time: Ensuring time intelligence and freedom from manual tracking with ZeroTime™
- Skills: Enabling intelligent resource, skills & certification management
Exciting Events at the Replicon Booth
In addition to showcasing the world’s first Knowledge Workforce Management Solution, Replicon curated a unique experience for visitors in the form of some exciting events at the booth. Visitors could take a selfie with an Elvis Presley or a Lady Gaga lookalike for a memory of a lifetime!
There were also a couple of raffle draws hosted across two days at the booth. All the visitors were encouraged to participate as they could be one among the lucky few to win the new Apple Watch Ultra!
TSIA World: ENVISION 2022 provided an incredible opportunity for like-minded professionals to gather and discuss the thriving technology industry and its future. With several data-driven keynotes and technology solution sessions, industry experts and leaders provided a glimpse into how organizations can leverage technology to grow their business and profitability.
Hopefully, we look forward to hosting you at the next TSIA World event!