Questions: Elise works for a mid-size consulting firm. The president of the company is enthusiastic about upgrading its basic information technology systems to share information within the company more efficiently, but is unsure what steps to take. The finance department sometimes produces slightly different figures than the project managers report, and the HR team often walls off its data from other departments. Elise has been asked to propose some solutions to help. Which of the following suggestions would best use technology to create business value?

To address the issues faced by Elise's company and use technology to create business value, several solutions can be proposed. Here are three key suggestions:

1. Implement an Integrated Enterprise Resource Planning (ERP) System:

   • Explanation: An ERP system can centralize data from various departments, such as finance, HR, and project management, into a single unified platform. This integration helps ensure consistency in data reporting and reduces discrepancies between departments. By having a single source of truth, the company can improve decision-making and operational efficiency.
   • Example: Companies like SAP and Oracle offer ERP solutions that can be customized to fit the specific needs of a mid-size consulting firm. These systems can automate processes, provide real-time data access, and facilitate better communication across departments.

2. Adopt a Cloud-Based Collaboration Platform:

   • Explanation: A cloud-based platform, such as Microsoft Teams or Slack, can enhance communication and collaboration within the company. These platforms allow for seamless sharing of information and documents, reducing the silo effect often seen in departments like HR. They also support remote work and can integrate with other business applications.
   • Example: By using Microsoft Teams, Elise's company can create channels for different projects or departments, enabling team members to share updates and files easily, thus improving transparency and collaboration.

3. Utilize Business Intelligence (BI) Tools:

   • Explanation: BI tools can help the company analyze data from various sources and generate insights that drive business decisions. These tools can identify trends, forecast outcomes, and provide visualizations that make complex data more understandable.
   • Example: Tools like Tableau or Power BI can be used to create dashboards that display key performance indicators (KPIs) for finance, HR, and project management, allowing the company to monitor performance and make data-driven decisions.

By implementing these technological solutions, Elise's company can enhance its information sharing capabilities, improve data accuracy, and ultimately create more business value.