I would like to provide a summary of the critical areas and path that we suggest you may want to follow to ensure you have a successful C/ETRM system process, from selection to implementation and for future use.

Why are you buying a C/ETRM system? It is often sold as the front-office capability and needs because they make the money and have the influence in the selection process. Often, however, the greatest beneficiaries are the middle- and back-offices. If you include them early, the benefits will increase. The data and information needed, as data grows larger and larger, makes the entire process more efficient and effective.

The main concept is that no project can go well if we do not know the information we must have out of the system. That means we need to know the reports – the reports from front-2-back.

In knowing the reports, you will be able to determine the data attributes you’ll need. When C/ETRM systems come with over 10,000 data attributes, it may seem daunting. It is especially daunting six months into a project, if reporting needs and, subsequently, data needs start surfacing and sending projects backwards. “Burning dollars” is a huge issue when it comes to reporting. It is as nearly as predictable as the setting of the sun.

In preparing for purchasing a new system, the scope and requirements are a tricky part of the project. You can’t really get into the how and why for each requirement, but you do have define what is in scope, and which requirements are really must-have, nice-to-have, or not required.

Once you have selected a software vendor, planning and execution are key. I have provided thoughts to help you achieve project success with the cost/benefit analysis of how to stage your process, from data migration, to consultants, to completing the project with optimal outcomes. No two project are alike. Not even at the same company.

For the future, I believe we will have a breakthrough and maturity in this space, where Big Data, – which provides tremendous insights and uses 21^st-century valuation techniques – along with consolidation in this space will move us closer to a truly one-software-vendor solution.

As in my last book, I save the best for last.

Human nature ensures we are going to have contentious and challenging projects. All leaders need to know, expect, and plan for it. Leaders need to engage in the project, literally stopping by the project team ad-hoc, and into meetings to see how the project is progressing. Leaders, not just the project leaders, need to learn the names of consultants and engage them as if they were employees.

It is the only way to make a project consultant work further to help you achieve success. Going to lunch with many, and often, is going to give you real insight into the project. Making everyone a team member and stating so to everyone before a project is even in the selection phase, and reiterating it throughout the project through your action and presence, will allow you to see much greater success. You will truly know if you truly have the ultimate goal: Project Momentum.