Making the Business Case for Smarter Information Tools

Most businesses have the same issues around resourcing - Either they started small and didn’t need systems and processes, but then as they grew, it became challenging to introduce them. Or they did have some systems in place, but they haven’t kept up with the demands on the business or the technology available. All this results in information overload, fragmented systems, and inefficiency.

While AI may not be right for you, one key benefit is the conversations it has created about automation and efficiency. People are increasingly looking to technology to make their work lives easier, and AI has accelerated this interest - but it is not always the answer.

Smart information tools can help businesses with automation, aggregation, and systemization. But how can organizations justify the investment?

Understand the Budget Landscape

The first step is to understand the budget landscape of your organization - is IT actively investing in new tech? Are budgets being squeezed across the board? Are there competing priorities? Understanding some of the barriers to budget approval will help you build a case that will address those concerns.

Next, draw attention to the cost of inaction. Many people believe that maintaining the status quo avoids costs, but that’s not always the case. Highlight the hidden costs of poor information management, such as duplication, wasted time, and missed opportunities, and put these in financial terms. Framing your new content aggregation platform as an investment, rather than a new expense, will open minds to your solution.

Demonstrating Tangible Value

So, how do you demonstrate value? There are three key pillars:

1. Efficiency and productivity: Quantify time savings and reduced manual work through automation.

2. Decision-making quality: Link better access to information with improved strategic outcomes.

3. Employee satisfaction: Show how better tools reduce frustration and improve engagement.

Individually, each of these three is a powerful convincer of value for money, but combined, they move your proposed solution into the category of strategic investments. Focus on figures that will bolster the bottom line and improve overall business outcomes.

You can also highlight short case studies from other companies that have benefited, or other real-world examples to illustrate measurable value.

To do this, you need to present key statistics about the current situation:

• How information overload and wasted productivity are impacting the bottom line

• The expected ROI from aggregation software or automation tools

• The employee demand for more resources and better knowledge management systems

Vable has a template for how you can generate this information within your organization. You must be systematic, and it is always a good idea to start this process much earlier than you might think - if you are already short of resources, finding the time to gather data and build a business case could take weeks.

Remember to consider timings around annual budget reviews, and ensure to consider the time it will take to onboard or migrate to the new solution in your plan, so key stakeholders within the organization are not taken by surprise.

Overcoming Objections and Gaining Buy-in

The best way to get buy-in from key stakeholders within the business is to appeal to their needs and address their specific concerns. Each stakeholder may have different needs and concerns, so you should consider carefully who needs to be on board initially - budget holders, IT managers, and the core initial users - and who you will need to convince as the project rolls out - admins and end-users.

Common objections include:

• We don’t have the budget - Highlight how content aggregation solutions can be strategic investments, not cost centers.

• Our existing tools are enough - Point to why you think this is not the case, and how the issues are having an impact on the bottom line.

• We don’t have the time/resources for a new project - Show why inertia can cost the business money through inefficiencies and low productivity.

• Now is not the right time - If not now, why? Time doesn’t tend to improve institutional issues, so highlight how waiting will impact the bottom line.

The most convincing tools at your disposal are statistics and real-life success stories, as mentioned above. Data is your best friend; the more you have, the more confident people will be in your proposal. Remember to emphasise long-term value over short-term costs.

Investing in Smarter Information is Investing in Strategy

Building a business case can be challenging, but all of your communications should emphasise that smarter information tools are not optional - they’re strategic assets.

Introducing tools to help your library team with one core task can even deliver more benefits than you initially considered. While you may originally introduce content aggregation tools for easing the load of manual searches, you may then see the benefit of it for horizon scanning or business development.

All businesses perform best when they are adaptable and make informed decisions. Evaluate your current tools and start building your case today.