The IT team is rolling out the employee portal to the operating companies now with the expectation that it will take about 12 months for the 14 operating companies and Siemens Corp. to have complete access. The payback period is less than one year. The scope of the project is concrete, measurable and compatible with our strategy of leveraging resources and improving the bottom line.
The proposal team offered a detailed implementation plan, including written commitments from operating companies that agreed to recruit their employees to use the portals and commitments from departments and outside organizations that would offer savings. A system was put in place to monitor the project.
IT is a fundamental part of our company's competitive advantage. But in any IT proposal, it must be clear that the need is driving the technology. No matter how innovative the technology, its concept must be strategically relevant, and its benefits must be financially quantifiable and quickly captured.
Klaus Stegemann, executive vice president and CFO at Siemens Corp., has spent 28 years in finance positions at Siemens in New York and parent Siemens AG in Germany.
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