2014 六月 10

Overview: 5 steps for preparing an executive pitch for PLM reinvestment.

You have determined that your company’s PDM/PLM software no longer meets your strategic requirements and that you need to replace it. You have even taken the time to prepare a thorough financial justification.

But nothing will happen until your boss agrees to make the purchase. And making an effective presentation to your CEO or CFO can be a nerve-racking proposition.

Centric can help. At a recent PLM Lunch & Learn Webinar, Centric detailed the steps you need to take to make an effective pitch to your executive staff. Here’s a brief summary—or watch the full replay of our webinar here.

1. Ensure your proposal makes economic sense. Use your financial justification to demonstrate the bottom-line impact of your project. Also, make sure your data is grounded in your company’s specific figures. Remember, a sophisticated vendor should be able to help you build a thoughtful financial justification.

2. Focus on the comprehensive company impact. Ensure you’re not focusing too much on one department or work group. Your plan should demonstrate how a PLM investment will have a company-wide effect.

3. Demonstrate a comprehensive implementation approach. In order to make a PLM investment successful, your teams will need to be trained on how to use it. Demonstrate in your pitch what your roll-out plan looks like, including who is responsible for what.

4. Secure executive sponsorship. This is a key element to increasing the likelihood of success during the PLM pitch. The sponsor might even be able to demonstrate how the PLM system would work in his or her department.

5. Create a multi-layered project review. In addition to yourself, the project review should include the CEO, the CFO and your executive sponsor. Be prepared to present at a high level about the global benefits to the company, yet still be able to defend the details. In order for the project to secure funding, you must be prepared to pass the CEO’s “deep dive test,” where he or she drills you on specific aspects of your pitch.

For more, read Centric’s white paper, “Is It Time to Replace Your Existing PDM/PLM Software,” which covers this entire subject, from determining if it’s time to reinvest to preparing the financial justification and making the executive pitch.

To discuss your PLM software needs, contact Centric.