building the business case for learning investments
TRANSCRIPT
MAKING THE BUSINESS CASE FOR LEARNING TECHNOLOGYMay 17, 2017
WEBINAR
Mark Mangelson | DegreedVP, Enterprise Sales
degreed.com/mark.mangelson@markmangelson@degreed
ABOUT DEGREEDDegreed is an award-winning learning platform built for the way today’s workers really learn.We make it easy for organizations and their employees to discover, curate, and track all their learning. All in one system.
INTERNAL LEARNING SYSTEMS+
EXTERNAL TRAINING CONTENT+
INFORMAL LEARNING ECOSYSTEM
AGENDA
HELLO. Create the vision for where you want to be.Determine the steps needed to get there.Understand the key issues your stakeholders care about.Pulling it all together.Panel Q&A
We’re Degreed. 12345
1START WITH THE VISION OF WHERE YOU WANT TO BE.
KEY POINTS TO CONSIDER...
1. What is the big “why” for moving to this technology?
2. How does the future state look different than the current state?
3. How does your vision align with the organizational objectives?
WITHOUT A VISION, YOU WILL FAIL.
Source: Harvard Business Review, Great Businesses Don’t Start With a Plan, 5/2012
70%Of entrepreneurs with a successful exit did NOT start with a business plan.
CHRIS TROUT, VP L&DWALT DISNEY COMPANY
We looked in a few places, including how technology was happening at
the time, how HR and learning technology was happening and
knew we wanted to pursue a technology that was going to help us
get to that vision.
“
”Source: Degreed Webinar, The Near Future of Learning Technology, February 2015
DANI JOHNSON, VP LEARNING RESEARCHBERSIN BY DELOITTE
Being able to explain the vision to the stakeholders is
probably one of the most important things associated with making that business
case.
“
”Source: Degreed Webinar, The Near Future of Learning Technology, February 2015
THETAKE-AWAY
Having a detailed plan is important in the later stages of the business case, but crystalizing a vision backed by passion is the first, critical step in the process. Everything else flows from there.
AUDIENCE POLL #1:
What is the hardest part of creating the business case for new tech? (choose one)
1. Gathering requirements2. Getting buy in 3. Calculating the impact4. Putting together the business case, itself
2DETERMINE THE STEPSNEEDED TO GET THERE
KEY POINTS TO CONSIDER...
1. How does your vision impact other areas of the business?
2. What legacy systems/technology will be impacted or archived?
3. Who do I need buy-in from, and in what order?
WHAT OTHER AREAS OF THE BUSINESSWILL BE IMPACTED?
HR/L&D
IT
ENGINEERING
WHAT OTHER TECHNOLOGIES OR PROCESSES ARE IMPACTED?
PLATFORMSLMS
CONTENTCatalogs, etc.
LEARNINGCulture
WHO ELSE NEEDS TO BE INVOLVED, AND WHEN?
0-60 days
VP, L&D
CHRO
VP, FINANCE
COO
PRESIDENT/CEO
60-90 days
THETAKE-AWAY
You have to understand the potential impact your vision will have on the business, and the stakeholders you’ll need to explain it to. Because as hard as it is to hear, they don’t care about learning.
AUDIENCE POLL #2:
What stakeholders are most critical for deciding on new technology?
1. C-Suite2. Purchasing or IT3. Users4. Line and business execs
3UNDERSTAND THE KEYQUESTIONS YOUR STAKEHOLDERS CARE ABOUT
KEY POINTS TO CONSIDER...
1. How will this solution impact revenues, save money, increase productivity, or improve employee engagement?
2. What type of analysis do I need to be prepared with? E.g. Financial, empirical, etc.
WHAT ARE THE MOST IMPORTANT CONSIDERATIONS WHEN SEEKING INVESTMENT?
Source: LinkedIn Survey, May 2017
3.47
2.43
2.20
1.93
How much will technology be used?
What is the overall satisfaction?
How much money will the technology save us?
How much revenue will we gain?
HOW IMPORTANT IS IT THAT YOUR BUSINESS CASE CONTAINS A QUANTITATIVE ANALYSIS?
Source: LinkedIn Survey, May 2017
0%
10%
20%
30%
40%
50%
60%
70%
Critical VeryImportant Important SomewhatImportant
NotImportantatAll
HOW IMPORTANT IS IT THAT YOUR BUSINESS CASE CONTAINS A QUALITATIVE ANALYSIS?
Source: LinkedIn Survey, May 2017
0%
10%
20%
30%
40%
50%
60%
Critical VeryImportant Important SomewhatImportant
NotImportantatAll
THETAKE-AWAY
Being able to quantify the impact of your investment is good, but a focus on the user experience, engagement, and less quantifiable metrics are most important. But expect that to change with the rise in big data.
AUDIENCE POLL #3:
What would be most beneficial to you to help make your case?
1. Case studies2. ROI Calculators3. Client success stories4. White papers
4PUTTING IT ALL TOGETHER
KEY POINTS TO CONSIDER...
1. Example of building the business case for Degreed.
2. How can I best leverage the vendor?
3. What is the best format?
TYPICAL BUSINESS CASE METRICS FOR DEGREED.
(-25%) 30% 5% (-15%)Streamline
vendor management
Improve learning team
productivity
Improve end-user productivity
Reduce IT Overload
Source: Degreed, Your Bottom Line: 4 Ways to Pitch Degreed to the CFO, February 2017
PULLING IT ALL TOGETHER: IN SUMMARY...
PROBLEM
FUNDING
VISIONWhere do weWant to be?
KEY STEPSBusiness
Impact, Stake-Holders
BENEFITEngagement,ROI, UX, etc.
Investigate Analyze Present
$PRESENTATION
Word + PPT, In-person
preso
THETAKE-AWAY
Format isn’t as important as structure. Also, vendors can - and should - play a role in building the business case. They bring data and templates that help fill in the gaps.But you shouldn’t let them drive the discussion.
PANEL Q&A
JAMES SALMONCIO, Meritage Homes
KERRY HEARNS-SMITHClient Engagement,
Degreed
RUTH RICHMONDOrg. Development Director, Blackline
