Spreadsheets and slides are undeniably a critical part of our working lives. Working with large amounts of data that you need to organize and analyze? Stick it in a spreadsheet. Got an idea you need to present in detail? Time for a slideshow.
Which is why it’s no surprise that spreadsheets and slides feature heavily in strategy planning and execution. But… These pieces of software weren’t built with strategy in mind. They create static documents that only show what you put in, and reflect what is true at that specific point in time. As strategies become more complex and organizations scale, this limitation becomes easier to see.
The prevalence of both spreadsheets and slides can make it hard for us to completely turn our backs on them. They’re tried and tested, and usually readily available. Maybe they’re not the totally perfect software companion to support your strategy planning and implementation, but they’re familiar. You understand how they work and they (for the most part) serve your needs.
Until one day you need additional functionality, you’re missing parts of the story, and your beloved documents can’t provide a clear answer why you’re struggling in executing your strategy.
We’re big fans of using tools like Microsoft Excel and PowerPoint – but only when they’re the most efficient choice. In our experience, using spreadsheets and slides for strategy can create issues that you only encounter once you begin the strategy execution phase.
Even when using shared workspaces, it can be difficult to control the master document. For example, colleagues may download local copies to work from, adding new information or making updates to the structure. This can also occur when working across different business functions that might not all have access to the same systems or data. These duplicate documents can cause confusion as the data within might not all match up, causing project stakeholders to work with old information that is no longer relevant to where you currently are in your execution.
Working with spreadsheets and slides requires a lot of manual input to add new information as well as derive valuable insights, reducing time spent by you and your team on executing your strategy. The manual element also introduces the possibility of hidden errors (or typos), causing you to choose your next steps based on unknown inaccuracies – taking your strategy off course.
As spreadsheets and slides are static, they will typically only be updated either when someone remembers to, or when you have a scheduled meeting. This means that the information in your strategy documents is applicable only at that specific point in time, and doesn’t show the full story of progress – or even why some parts of the strategy are or aren’t working.
If plans can’t adapt or update dynamically, it’s easy to lose situational awareness, causing strategic alignment to suffer. Limited visibility of how your strategy is performing will reduce the effectiveness of your decision making, and not show the direct connection between your efforts and results.
Strategy software is a way for you to improve how you plan and execute your strategy, and can also benefit your daily operations. It is purpose-built to support both planning and execution, turning strategy into a continuous and shared process.
But, most importantly, using strategy software allows organizations to be agile in their approach and respond to market changes or internal learnings – something that static software options can’t achieve without additional human insight or analysis.
Using strategy software means that all data relating to the strategy will be in one place, accessible to all project stakeholders. You won’t need to check multiple different systems to find relevant information, nor will you question if the data is the most current version. Information should be consistent and accurate when using one single system, reducing miscommunication and ensuring that you are all working towards the same priorities.
Automating tracking progress will minimize the level of manual input, mitigating the risk of errors in your data. This also means progress updates will be completed to a set schedule, improving efficiency in your strategy execution and enabling greater focus on defining priorities and decision-making. It also allows those involved to quickly consult the project in the software at any point in time and immediately understand where you’re currently at without needing to consult additional members of the team to get more detail.
If progress isn’t clear or easy to visualize, this can cause project stakeholders to lose interest or buy-in in the strategy. Strategy software typically uses dashboards to illustrate the journey, helping colleagues to connect the dots between each individual activity and how it has contributed to your overarching goals – encouraging a sense of accountability within the organization.
Thanks to strategy software simplifying processes within strategy planning and execution, you will be able to apply more focus to being adaptable. The best strategies are dynamic, changing when needed to effectively respond to conditions beyond your control.
As all information will be in a single system, with a holistic view of updates and progress, it is easier to make strategy adjustments as the need arises. Alternatively, through visualization, you might identify parts of your strategy execution that aren’t progressing as (quickly as) intended and decide new tactics to encourage progress.
Spreadsheets and slideshows will always have a place in our working lives thanks to their ease of use and flexibility in applications. But, that still doesn’t mean that they should be used for strategy – especially as that’s not what they were originally designed for.
As strategies become more complex, organizations scale, and the importance of being dynamic comes to the forefront, it’s important that internal systems and processes adapt to reflect these changes. Adopting strategy software enables you to manage your strategy effectively, while still keeping on top of everything you need to do to keep your organization running like clockwork.