Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Parties that need to share quantitative datasuch as prices, measurements, deadlines, raw numbersamong disparate groups quickly.
NOT GOOD FOR:
Parties that must share more ambiguous, complex concepts. In those cases, face-to-face communication still works best, experts say.
Management of large, information-rich projects is easier, deadlines can be met more often, and managers can pinpoint the source of problems earlier to make fast adjustments in schedules and budgets without breaking the bank. E-collaboration can cut costs, reduce development and approval time by 60 percent, and bring in projects fully a month ahead of schedule. That translates into huge savings for builders and added revenues for clients from their ability to move into new buildings faster than anticipated.
Everyone involved in the project needs to participate, agree on a common platform and standard procedures. Execs also must be able to manage more input per project to ensure full accountability. Failure by some parties to collaborate slows project time and adds cost.
WHO ELSE USES IT:
Siemens AG, Motorola Corp., Tower Group Companies, Priceline.com, Unilever
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