Blog: Why Technology Is Important to Strategic Alliances
In today’s business world; strategic alliances have become critical growth drivers to overall business development Unfortunately, the success rate of most strategic alliances is best described as abysmal. Upwards of 50% of strategic alliances either don’t meet expectations or fail outright. There are clearly many reasons, but a key reason is the lack of technology enablement options to support strategic alliances. In fact, alliances are dramatically underserved when it comes to technology and innovation. For the most part, strategic alliances are being serviced by a combination of legacy products, spreadsheets and presentations. Stitching these legacy products together has proved to be a recipe for failure.
So, Why is Technology Enablement so Important to Strategic Alliances?
Alliance partners need a shared, highly-secure platform where they can engage, collaborate and innovate
The business logic (e.g.; vision, goals / objectives, KPIs, etc.) underlying the alliance has to be transparent to appropriate stakeholders with an automated work-flow mechanism to enable and track partner agreement
A joint opportunity and deals pipeline is needed to enable sales teams to find and work deals together
A strategic alliance, at its core, is a major program requiring automated and enforced project management disciplines (i.e.; risks, issues, actions, approval and escalation workflows, etc.)
Alliances have some additional unique characteristics (e.g.; financial and non-financial contributions, funding requests and disbursements, innovation ideas, etc.) that need to be tracked and managed
Alliance partners’ Senior Executives need a high-fidelity (and trusted) source for reports, dashboards and Business Reviews.
But technology alone isn’t sufficient for strategic alliances. In fact, that technology has to be underpinned by a framework of industry leading alliance management practices. We built collabtogowä Succeed to satisfy both of those fronts. Our technology is built to enable and automate the alliance best practices and processes, and underpinning our technology is a rich foundational framework that leverages ISO 44001 standards; enhanced with our own real world alliance know how. collabtogrowä Succeed is a one-of-a-kind SaaS platform incorporating industry-leading practices, workflows, and tools to help executives unlock the growth potential of their strategic alliances.
If you don’t currently have an Alliance Management technology platform or are concerned about the inefficiency (and ineffectiveness) of “cutting and pasting” information from various legacy office products, collabtogrow™ Succeed can be readily implemented to fill the Alliance Management technology void.