A few years ago, we did a series on maximizing your value at each stage of your CTRM journey. A lot has changed since then including COVID-19, increased remote work, administration changes, volatile markets and even war. We are going to give an update to that series that includes 3 tips at each one of the stages of the CTRM journey in our new climate.

Stage 1: System Selection

The first stage of the journey is system selection. In our first video on system selection, Matt Schuetz, Partner, explains how there has been a lot of consolidation within the ERM and CTRM solution space. It has led people to think they don't need a system selection because they only have one vendor or because the company that provides the ERP solution can provide the CTRM solution. However, it's now more important than ever that people need to do a system selection to consider all the options available. Below, Matt highlights 3 points (plus a bonus point!) on some best practices to do during the system selection stage of your CTRM journey:

1. Understand strategic goals
2. Define architecture
3. Establish criteria
4. Bonus: Involve users early

For details on each on of the points, watch the video:

Stage 2: Planning 

The second stage of the journey is the planning stage. At this point, we’ve completed the assessment, we know why we’re doing the project and what we are trying to solve. What we're doing in the planning phase is coming up with a roadmap to help us to get from where we are today to the overall objectives of the project. August-Al-Uqdah, Partner, share 3 tips to keep in mind as you work through this stage of the project. The 3 tips for the system selection phase are:

1. Breakdown & organize project objectives
2. Create multiple versions of the plan
3. Establish governance

For details on each on of the points, watch the video:

Stage 3: Implementation 

The third stage of the journey is implementation. In our implementation video, Matt Schuetz, Partner, talks about the lessons learned in the implementation stage since COVID-19 hit and forced us into working remotely. We were in the middle of a large implementation when COVID-19 hit and had to adapt quickly to keep the project on schedule. Matt will talk about some of the things we learned and what you should consider and apply to your implementations going forward. Here are our 3 tips on the implementation stage. 

1. Adapt to remote work 
2. Embrace an agile approach 
3. Incorporate cloud technology 

For details on each on of the points, watch the video:

Stage 4: Stabilization 

The forth stage of the journey is the stabilization stage.  At this point we've gone live the system and the users are using the system. This stage marks a pretty significant shift in the way that the project team has been working because prior to this point, everything has been focused typically on the solution that we're. Now that we are live, the focus changes from system technicalities to business needs and processes. We need to be ready to respond quickly because we are supporting business needs and show our progress. August-Al-Uqdah, Partner, highlights the 3 tips in the stabilization stage:

1. Prepare for rapid response 
2. Focus on business process stabilization 
3. Track and communicate progress accurately 

For details on each on of the points, watch the video:

Stage 5: Optimization 

The last stage of the journey is the optimization stage. By this stage, the system is live and users are stabilized. So now what? What's left to do? August-Al-Uqdah, Partner, explains how their is a real mindset shift in this phase. We are focused less on big gains that we were in earlier stages and more on incremental improvements. Small adjustments can make big shifts collectively. We need to go back to the assessment stage and validate that we met the original goals. We are also ready to slow the maintenance pace down to something that is comfortable for the team. Here are the 3 tips in the optimization stage: 

1. Adopt mindset of continuous improvement 
2. Validate the business case
3. Normalize around a stabilization pace

For details on each on of the points, watch the video:

Thank you for watching and don't forget to subscribe to our YouTube channel for more videos and related topics. 

At Veritas Total Solutions, one of our core services is CTRM Systems. We understand the holistic CTRM journey and can guide you through each one of the stages in the journey. If you are interested in learning more about our specific capabilities, contact us to learn more or subscribe to our blog to stay connected!