About Technology One
Technology one is an IT that builds financial software for government departments and businesses. The mission of the company is to deliver cost effective solutions to fulfill the needs of the businesses (Technologyonecorp.com. 2018). To meet the desired goals, the company constantly seeks innovative knowledge. The quality of work is further maintained by motivating the employees. This helps them to stay ahead in the competition due to adoptive new techniques and ideas.
It is the vision of the organization to be the forerunner in the IT industry. The firms plans to achieves its established goals by creating and maintain smooth relationship with its clients. Technology One also provides cutting edge-technology that is coupled with effective and excellent services.
A strong network is the main element or the key to success of a business in both external as well as internal. The team also works closely with the clients to ensure maximum satisfaction all the time. The expertly trained employees are the major backbone of the business and they are treated well with utmost respect.
The employees and the clients are both given equal values. The products and services are provides always fulfils the client’s expectations. Technology One also values the privacy and vows to keep the information and work confidential each and every times. The enterprise is situated in Brisbane; Australia is one of the largest software organizations that are being recognized all over the world.
BPO organizations have been know for a very long time but were recognized only since a few decades ago. Since the early 90’s, the organization grew at a rapid pace and was effective to spread their wings. In the current times, Technology One has been proved to be the most influential industries throughout the world. due to increase in digitization, the BPO industry is gaining high advantages out of it. Technology one is witnessing tremendous opportunities and services within this IT industry. Irrespective of the business size, Technology One has serving everybody equally. The companies provide various services and with the help of outsourcing services other firms also achieve maximum customer satisfaction and cost reductions.
A SWOT analysis of the organization will help in getting the basic insights of this IT industry.
Strengths: the client relationship management within the organization is well-managed. Technology One enjoys market leadership in the business processing outsourcing services. There is strong relationship established with the loyal customer base. huge number of talented graduates is easily available in the market. lot of young people recently is entering in this profession through the world. Technology One requires energetic and young people to work for them. this allows them to have access to the deserving people across various domains and studies (Jarzabkowski and Kaplan 2015). The firm also has the ability to deliver operational skills, tools, deliver process and resources. Technology One has also maximum ability so that they can easily sell automation and standardization.
Technology One’s Vision and Mission
Weaknesses: Technology One has higher level of vertical concentration and that is the major weaknesses of the company. the firm also has a very limited brand presence and marketing process outside Australia. There are generally very limited growths taking place in the emerging as well as the new market. Perceived complexity is also present in the market that challenges the smaller buyers (Rothaermel 2015).
Opportunities: New leadership Targets growths are also helpful for growth and debt reduction. Inorganic growth leads to the non-traditional markets. The improved geographic concentration will help in penetrating and permeating in the existing location. The existing customer base can be easily developed and cultivated. There are huge bundled offerings present across the BPO Domains (Kalkan and Bozkurt 2013).
Threats: the major threats in the market are the non-traditional companies that enter the market. it gives rise to fierce competition and the revenue growth slowly declines. Huge exposure to Inflation and Foreign Exchange risk is another threat that is faced by Technology One in the recent times.
Technology one often needs to enhance its business processes to achieve higher performances. It is important for the firm to analyze its current processes and meet the goals of the organization. a proper strategic plan is required to increase the productivity of the organization.
Before implementing a particular strategy all the relevant stakeholders are needed to be appraised about the BPO‘s objectives. It is important for the firm to determine all the costs, persons and department that is to be spent for each utility. It is also important to determine of the changes made are for the betterment of future.
It is highly important for the firm to require buy-in from the stakeholders about the visions and objectives important for success. Moreover, it is important for the firm to implement a cultural change for profits (Slack 2015). Therefore, Technology One needs to gain efficiencies, reducing costs and enhancing the business values.
The marketing strategies would be drafted to keep the corporate goals and policies in line the company leverages on both the conventional and unconventional means for marketing their brands to all the potential and existing customers.
The recent trends that exist in the external marketing condition of Technology One can be known through the PESTEL analysis. Researchers generally believes that the enhanced marketing abilities leads to increase the customer retention power besides cost saving.
Political factors: the support of government policies for free trades helps in providing the company with new opportunities. Moreover, the economic policy that is initiated in the country is also very helpful for the organization to increase their success in the global market besides providing them maximum benefits.
Client Relationship and Quality Service
Economical factors: the increase in investment in the software technology park ensures maximum growth of the business process outsourcing in the recent years. The high exchange rate also helps the company to gain maximum advantage over its global players. ( Williams 2013).This actual allows the firm to provide the services and products at a very low cost.
Social factors: Technology One has immense intellectual capital that is facilitates the firms to reach maximum profitability and productivity.
Technological factors: Technology One can easily assess its various business clients and the provide immense satisfaction to their global suppliers and customers. improvement in the technological practices, the business has become very easy to other business partners that include both the customers and suppliers.
The consultancy services provided by Technology One have their own unique role in delivering effective services and providing unique experiences to their clients. Though there are performance gap found within the organization that is required to be fulfilled by the organization. the neglected gaps within an organization are also known as the ‘white space’ of the organization (Lasserre 2017). Hiring best representatives to provide the given services would be beneficial enough for the firm to bridge the existing gap. The HR of the companies can fulfill this gap by sourcing and optimizing the performance with the staffing.
Recently, latest and upgraded technology and effective tools helps in driving process improvements at the different level of the organization. the change management strategy can be made at three major levels, which are as follows:
- Effective management of performance, resources and environment.
- Designing of roles to achieve the goals.
- Goals for better strategy and performance improvement (Hayes 2014).
It is highly significant for Technology One to manage and effectively plan the strategy for potential relocation, redeployment and releasing of staff. The scheduling changes should be made to lower the impact o business unit so that the business can be effectively maintained. Moreover, two-way communication can also be effective so that they can easily involve in the transition process. The stakeholders should be involved or take active part while building the change management strategy (Doppelt 2017).
Change management is the structured approach for the transition of individuals and organization to achieve a desirable stage in the future from their current state. The key components that should be included in the governance board should consist of the following, which are as follows:
- Senior customer representatives should be more talented (Martinsuo 2013).
- Heads of profession should be in charge of the major functions in the shared services.
- Senior representatives should represent shared services operations.
Stakeholder management and involvement can be done through the process of proper stakeholder analysis, identification, matrix, stakeholder engagement as well as communicating the information. Stakeholders should be responsible for formulating and implementing all the process that satisfy all the groups, who have stakes in Technology One. Stakeholders have a legitimate interest in the organizational affairs. The firm pursues their interest through efficiently managing their relationships with the existing stakeholders.
SWOT Analysis of Technology One
There are specific risks that are related to the outsourcing services given within the IT industry. Risks are generally higher in the business process outsourcing due to inexperienced vendor or clients, misuse of trust, failing interfaces, loss of competencies and loss of strategic businesses (Merat and Bo 2013).
Data security is the most fatal risks that are to be taken care by the Business process Outsourcing Industry. The organization in the current times have initiated to stay focus on maintain the privacy of the data, Technology One addresses rising concern for the client’s end consumer data and avoids any kind of bad publicity.
Technology One are now maturing enough to clearly understanding and differentiate the security that is related to the strategic security tasks. Moreover, the firm is also bridging the gap in security skills by delivering effective consultancy skills to for the specialized security tasks (Morschett, Schramm-Klein and Zentes 2015)..
Long-term value can be obtained through a range of inputs that includes improved processes, productivity and higher revenues. Technology One had constituted host of benefits that includes the increasing in productivity from 30 percent in accounting to transaction processes and customers services.
Competitive advantage of the organization can also be gained due to the enhancement of key capabilities like greater ability to control business cycle and also manage the business cycle vitality and increase in the strategic flexibility of the organization. majority of outsourcing is done local or to onshore vendors. The feasibility that encompasses the vendor’s market and legal constraints should be properly evaluated (Harrison and John 2013).
Change management is the vital part to lead and mange the changes. This also enables the individuals to accept new technologies, processes, values, structures and systems. There are set of activities that help people in transitioning the business from the present condition to the desired way in future. the change management project plan may take long duration as the transforming the retained functions by aligning and improving the ability to work takes a long time (Ashkenas 2013).
Technology One has to follow the key activities:
- Manage ‘make or buy’(in-house or outsource) decisions
- Manage business readiness for the required changes
- Provide overall program management services.
- Stabilization of activities post transformation
- Stakeholder engagement
- Complete realignment.
The communication work stream is completely liable for the stakeholder’s management and communication at all level within the organization. this approach helps in monitoring the communication effectively. stakeholder’s assessment and management is also needed to be organized through the required changes.
The business change work stream includes the area that required to be changed across a range of various discipline. This begins at an early stage and major activities like the readiness assessment for the change is ascertained. It continues till the main implementation activities. The changes to be made are done through employee retentions and communication, change readiness assessment, change impact analysis, change network and Organizational Design Support (Hill, Jones and Schilling 2014). This also includes HR alignment like- retention, redeployment, recruitment and release.
The training and support work stream is accountable for delivering the on-going education and support that is required by Technology One. This procedure also starts at the beginning of the initiatives with the help of training and planning after the performance gap analysis.
Ashkenas, R., 2013. Change management needs to change. Harvard Business Review, 16(April).
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
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Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international management (pp. 978-3658078836). Springer.
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Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.
Technologyonecorp.com. 2018. Services | TechnologyOne. [online] Available at: https://www.technologyonecorp.com/services [Accessed 3 May 2018].
Williams, C., 2013. Principles of management. South-Western Cengage Learning.
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