We're near the end of the year. You've taken time and energy to get a fresh 2019 plan knocked into shape. Your budget is ready with several initiatives outlined and ready to be put into action. But first, you must get your plan and your budget approved by senior management. And that is where many plans can become derailed.
Here are four things you can do to increase the potential for a positive response to your plan and get the seal of approval to move forward for 2019:
- Make Sure Your Plan Is Solid
- If your plan is simply a rehash of last year’s, you can expect a tepid response by senior management. Make sure you are able to clearly describe how this plan will support greater corporate objectives. Remember, too, that the more enthusiastic you are about your programs and technology, the more likely your audience will be.
- Understand Your Audience
- If your plan is simply a rehash of last year’s, you can expect a tepid response by senior management. Make sure you are able to clearly describe how this plan will support greater corporate objectives. Remember, too, that the more enthusiastic you are about your programs and technology, the more likely your audience will be.
- Demonstrate the Value of Your Plan
- Be prepared to describe how each of your planned purchases support your plan. Put together a road map for each capital expense and explain the value it brings to your department and to the organization as a whole.
- Numbers Speak Louder Than Words
- Without doubt your numbers have to add up. Numbers can be even more compelling than a passionate “story” about how great your programs are. Quantify the improvements that your plan brings to the organization at large. Look at things like overall cost savings and lowered future spending. Use your Technology Expense Management (TEM) system to create meaningful reports that you can present to management.
Of course, there are other things that will have an impact on how your plan is evaluated. Your overall track record of past years will come into play, as will how well the plan supports the greater goals of the organization. Clearly, some of this will be out of your control. That's why it's important to take ownership of those things that do fall under your control and demonstrate to senior management your ability to drive your initiatives forward to the benefit of everyone.
Have some questions about using your TEM to provide meaningful reports? Feel free to
contact us. We'll be happy to listen to your goals and plans and help you make the best use of your TEM reporting!