The Centrality of Business Value and Measurable Outcomes
Edge understands that the purpose of digital transformation and all related investments is to deliver the business outcomes that each member requires for healthy growth and continued success.
In procurement, however, the search for impactful solutions has long been based on detailed requirements, overall fit, and cost. While these are essential to the procurement process, they do not fully convey to the vendors the business results that the buyer is ultimately seeking to achieve, nor do they enable the vendors to convey in detail the business value their customers have been able to realize with their solutions.
The focus and conversation around business outcomes in the technology marketplace is growing, and Edge is committed to help lead the way.
The Business Value Lexicon™
Just as Edge has adopted the Higher Education Reference Models from CAUDIT to provide a uniform structure for business capability-based planning and procurement, Edge has also partnered with Business Value Story™1 to provide its Business Outcomes Lexicon™ as an enabling structure for incorporating business outcomes in planning, procurement, implementation and optimization efforts.
Key descriptive excerpts from Business Value Story:
Business outcomes are the "why" behind solution investments.
Buying organizations and solution providers elevate their relationship by integrating business outcomes into their planning, buying, selling, and deployment processes.
The Business Value Lexicon™ is a practical set of tools designed to help your team map your organizational strategy, initiatives and solutions to the Business Value and Measurable Outcomes you need to achieve success.
Edge and the Business Value Lexicon™
Edge has begun to employ the Business Outcomes Framework™, initially to include Incorporating the Business Value Lexicon™ as the business outcomes section of a broad spectrum EdgeMarket RFP for HE software solutions.
About Business Value Story
1Disclosure: Business Value Story was co-founded by Edge's Dan Miller, with a co-founder who serves as general manager.