Scott Friedrich

Note to self, remember as critical as technology is, in finance applications continue to use it as an enable. Continue to look for ways to maximize the use of technology by helping to improve existing processes. Remember the importance of personal communication, try to continue to communicate directly rather than use technology as a crutch to…[Read more]

Mariya and Aldo, Both great points, and I agree if one has a solid network of resources to tap into to get similar counsel that would come from a professional that would likely suffice. As I think about it, another example is in video media. If one has an idea for a TV show, the common practice would have been to find an agent and arrange…[Read more]

I totally agree with your points Aldo, where I would have concern is how much of an impact is open innovation having on an individual’s day job. I don’t mean to say that I disagree with open innovation in principle, I would just suggest that strict governance be put in place to ensure that open innovation does not have a negative impact on productivity.

Siemens has made a tremendous investment in open innovation and has looked to companies such as Google and IBM to identify best practices. Adopting innovation jams, engaging academia, hosting internal competitions and knowledge sharing forums are all excellent concepts. To me, the biggest measure of success would be to see which of the ideas are…[Read more]

As i was writing my post I thought of Linkedin also. Linkedin is an excellent example of an online community which fosters collaboration and knowledge sharing. I too am a member of several communities in Linkedin which I use to better engage colleagues, and learn more about my field.

KPMG released recently what we are referring to as “The Hub, which is a virtual teaming community”. An overview of the objectives of “The Hub” is below:

Welcome to the Hub – the place where you can connect to colleagues around the world, share knowledge, learn from one another, collaborate on ideas and develop innovative solutions for clien…[Read more]

Radiohead used an extremely unique and controversial approach to distribute “In Rainbows”. It was released online and the format was a “pay-what-you-want” download; the amount that could be paid could be any amount, including $0. The strategy proved to be successful and the album arrived on the UK Albums Chart and the US Billboard 200 at the num…[Read more]

I don’t think the age of agents and publishers is completely dead but I do believe that the role has been diminished dramatically. Publishing houses were long the only source a writer had to have his or her work widely distributed. With the popularity of the internet and the availability of publishing aides and markets barrier to entry have b…[Read more]

Well said Mori; a classmate mentioned that IT didn’t enable globalization as Wyeth was already a global company. I agree with that statement but believe that a well structured and managed technology strategy absolutely plays an important role in the overall effectiveness of a corporation. Conversely, a very poorly managed information technology…[Read more]

Joyce, I have seen quite a few managers do the same thing in my day. The irony is that in most cases it is the more junior resource that needs the more powerful pc. This is particularly true in fiance; the junior analyst is running reports and analyzing data while the manager is more likely to be reviewing finished products or sending email.

The cloud references a network of servers which allows businesses and consumers to access large amounts of storage space for minimal costs. The cloud takes the place of having to store data onsite at either your place of business or residence and minimizes the costs required to purchase hard drives or servers. For companies, this is typically an…[Read more]

Sorry Eduard, i was trying to hit the Thumbs up, I agree 100% of your comments. Like many of the items we have reviewed in our months in the OMBA program this transcends many disciplines. As much as this is an IT initiative it also touches HR, Finance, marketing, finance etc.

Thanks for your response Kristen. Many projects fail due to a lack of collaboration between the business and IT. Key to success in any implementation clear and regular communication between the all parties impacted. Two other major reasons why projects fail are due to availability of key resources (or lack thereof). If people within the…[Read more]

Aldo, Thanks for your response, and yes KPMG is trying to blend the best of both worlds. While on one hand we are allowing employees to choose the device they are most comfortable with we are also requiring that employees adhere to the policies of the firm on that device. The result is that many of my colleagues have a personal and corporate…[Read more]

Wyeth was very immature with respect to their business processes and business structure. They used the implementation of the ERP system and installation of the “Global Data Warehouse” as a catalyst to transform their business model and IT delivery structure. A well implemented IT strategy with a focus on using the technology as an enabler of cha…[Read more]

Amazon has established themselves as the premier provider of cloud computing services. They have built the infrastructure and capabilities to continue to be dominant in this space. Below is an overview the services offered:

Simple Storage Service or S3: Simple Storage Service or S3 is a straightforward storage tool enabling a user to share…[Read more]

I agree with your comments Kristen. The cloud certainly is not a fad and will continue to grow in the coming years. The key to the continued success of the cloud will be the ability to ensure secured access. There are many organizations which have not yet begun to utilize and embrace cloud computing due to the lack of absolute security. As…[Read more]

BYOD is used at my company for both phones (IPhone or Android) and IPad devices. While the concept is meant to ensure a marriage between personal and professional communications, what I have observed in the last few years is that many of my colleagues still carry 2 phones. At KPMG, the policy is generous as to how much the firm contributes…[Read more]

Thanks Kristen, the key is attempting to quantify the soft benefits (e.g. the value of improved analytical capabilities results in lower expenses due having the time to identify and rectify annomolies, improved morale leads to lower turnover and hiring expenses)…..good luck!

Unfortunately, all too many times, unfunded projects do not proceed if not prioritized. Although this is unfortunate for the group requesting the project, we have to trust that IT is making an unbiased judgement call based on the facts.