Digital transformation requires investment, and investment relies on clearly-articulated rationale. Lumenia specialises in crafting accurate and well-reasoned business cases, tailored for board review and approval.
We work alongside your team to quantify and justify the investment required to drive your digital initiatives forward. Our experienced team draws on structured methodologies and a wealth of industry knowledge to identify viable options and evaluate costs, benefits and risks, ensuring you arrive at optimal solutions to achieve your digital vision.
Why a Digital Transformation Business Case Matters
Business cases are typically the first hurdle for a project to overcome. They determine whether the project gets off the ground and they become a statement of intent against which the project’s success is ultimately measured. At Lumenia, we understand that securing board approval for your digital initiatives hinges on the strength of this foundational document.
A sound business case:
- brings clarity to your digital transformation objectives and demonstrates alignment between the project and your organisation's strategic goals;
- demonstrates that suitable solution options have been considered;
- identifies potential risks and challenges upfront, enabling proactive risk mitigation to reduce the likelihood of unexpected roadblocks during project execution;
- enables early resource planning, so that you can allocate the necessary internal resources to the project and address capability and capacity gaps early;
- provides crucial information about the project to your stakeholders, from the leadership team to project managers and team members.
Our Approach to Developing Business Cases
We take a systematic approach to assessing the costs and benefits associated with the initiatives on your digital transformation roadmap, to develop robust business cases:
We develop a comprehensive cost model for your digital projects, calculating Total Cost of Ownership (TCO) over an agreed time horizon. Our analysis encompasses both internal and external costs for procurement, implementation, operation, support and maintenance of your desired digital solutions.
We identify and categorise quantifiable and strategic benefits through in-depth consultation with business and IT stakeholders. Benefits are tied back to your existing pain points and strategic business objectives, building the case for change. We collaborate with your team to provide financial quantification of benefits where necessary, and secure senior leadership endorsement of their attainability.
We evaluate the pros and cons for every option considered, providing clear rationale supporting the preferred solution and empowering your leadership team to make informed, strategically sound decisions.
Lumenia understands that compelling business cases form the foundations for successful digital transformation projects. Through careful business case development, we can help you to communicate investment rationale and secure board approval, enabling your digital transformation programme to deliver tangible results.