Digital transformations failing through too much focus on the “shiny new veneer” of webpages and apps

Digital transformations are underway at most large businesses as they respond to customers' adoption of smart devices, with organisations working hard to harness the efficiency gains arising from channelling as much as possible through websites and apps.

However, in its latest research, Coeus Consulting warns that its experience shows many such initiatives are failing through too much focus on creating a shiny new veneer of webpages and apps, with not enough thought going to the core of the business, its culture and back office systems. 

Coeus Consulting, an independent IT advisory and consultancy, highlights the problems many businesses are encountering in its new white paper: ‘Digital is Easy’ (www.coeusconsulting.co.uk/digital/).  The research identifies four key areas that need attention in order for any organisation to execute a successful digital transformation:

1. Legacy IT systems: legacy IT systems and the interfaces into them require transforming, to ensure new technology is not held back by slow-moving central IT.

2. Operational change: business transformation and process change.

3. Culture: organisational-wide cultural change is needed to support the new ways of working (including ensuring the necessary behaviours, skills and approach)

4. Execution: strong governance, as well as project and programme management, are needed to ensure the transformation stays focussed, on track and delivers the required benefits.

Ben Barry, Head of Strategy at Coeus Consulting and co-author of the report comments, “The pace of digital transformation is moving like never before.  For companies to succeed we believe they must understand their existing landscape as well as the challenges from the complexity of new interfaces into their existing IT systems, the changes needed to business processes together with employee behavioural change. 

“These all need to be addressed in order to execute a digital strategy successfully.  However, we have seen these elements often get looked at late in the process, or after new technology is live, meaning little or no return on the investment.”

Matthew Headford, Head of Technology and Architecture at Coeus Consulting, also warns that "the back offices which support the shiny new digital platforms are often neglected and therefore put under strain.”  Matthew adds: "If backend systems cannot support the innovative new ways in which your customer-facing systems are being transformed, then our experience is that you will ultimately end up with dissatisfied customers."

In support of their warning, Coeus cites a number of their experiences:

    One organisation recently invested in a new web presence, only to find that each customer page load needed 20 calls to the database (due to the old data design).  This slowed the website down to such an extent that the customer experience was completely ruined.

    Digital is about flexibility and the ability to react quickly.  One business’s attempts to deliver this floundered because, while the app team could deliver continuous updates, the underlying data had to come from a large central enterprise resource programme (ERP) with a six-month development cycle.

    The channel shift in contact centres is a great example.  Moving customers from phone to online switches much of the interaction to digital channels, such as chat.  Sounds a straightforward change, but actually adding chat to voice communications presents various employee challenges, such as existing versus new skill sets.  There is also the brand risk from more informal interactions with customers by a staff population with a high churn rate

read more: http://www.bobsguide.com/guide/news/2015/Mar/31/digital-transformations-failing-through-too-much-focus-on-the-shiny-new-veneer-of-webpages-and-apps.html

Tennis: Venus and Wozniacki ease into third round at Miami Open

Venus Williams eased into the third round of the Miami Open with a comfortable 6-3 6-2 win over Poland's Urszula Radwanska on Thursday while Caroline Wozniacki also progressed.

Williams has been away from competition for almost a month but she needed just 66 minutes to beat the younger sister of 2012 Miami winner Agnieszka Radwanska.

Williams was not at her best, she made 24 unforced errors but produced 22 winners to Radwanska's four and her passage to the next round was never in doubt.

"She's definitely a tricky player. She puts so many balls in play. And it was a little windy today - I just had to keep my feet moving and pray my balls were going in," said Williams, who will face Australian Sam Stosur in the next round after she defeated French qualifier Pauline Parmentier 6-1 3-6 6-0.

Fourth seed Wozniacki had no trouble in dealing with American Madison Brengle 6-0 6-1 to set up a meeting with Estonian Kaia Kanepi.

Agnieszka Radwanska had a tougher battle, surviving a strong test in the second set to earn a 6-4 7-5 win over Slovakia's Anna Schmiedlova.

Russian second seed Maria Sharapova was facing compatriot Daria Gavrilova later on Thursday.

Top seed Serena Williams will be in action on Friday against Romanian Monica Niculescu, while third seed Simona Halep takes on Czech wildcard Nicole Vaidisova.

read more: http://www.firstpost.com/sports/tennis-venus-wozniacki-ease-third-round-miami-open-2177071.html

Will Anyone Read Your Proposal?

By Michael W. McLaughlin

Sometimes I think every consulting proposal should include a bright red label warning: Persistent drowsiness is a known side effect of reading this.

Not long ago, a consultant wrote to ask me how to make proposals come alive, especially in highly competitive bidding situations. My answer was simple: Write for the first reader and the last reader of each proposal. Otherwise, you’re likely to lull your readers to sleep and find yourself without a sale.

Most Proposals Are D.O.A.

At a meeting with a prospective client, I spotted a rather large mound of spiral-bound proposals on the credenza. I asked if the client had read them yet. “No, and I won’t, either. Most are just too hard to wade through. If anything, I’ll skim them.”

Pondering the hundreds of hours that people had poured into those proposals, I wondered if the authors would do anything differently if they knew the fate of all that hard work.

Now it’s true that consultants often have to create proposals in a big hurry. Once they commit to seeking outside help, most clients are anxious to receive a proposal. In response to crunch time, some writers force pre-fabricated language into their proposals. Too often, though, what’s easy for the author to write is so painful for clients to read that they don’t.

Fortunately, many consultants now recognize that weighing down a proposal with jargon and buzzwords results in ambiguity about the project objectives, scope, and anticipated results. The few jargon-laden proposals that sneak through the client’s selection process often need extensive rework before a project can be launched.

Consultants also seem to be getting the hang of beginning proposals with a discussion of the client’s needs and ending with a recitation of the consultant’s credentials—instead of the other way around.

Quack, Quack, Quack

What’s often missing from consulting proposals is recognition of who the reader is. If you want to create a responsive and winning proposal, write with specific people firmly in mind—not the generic “client.”

read more: http://mindshareconsulting.com/will-anyone-read-your-proposal/

Israeli Parties Hire U.S. Consultants for Election Win

TEL AVIV—As Prime Minister Benjamin Netanyahu campaigns to set himself apart from his challengers in elections Tuesday, the major Israeli political parties have at least one thing in common: Nearly all of them, including Mr. Netanyahu’s, have hired American consultants.

This isn’t the first time. In 1999, James Carville and Stanley Greenberg, who had worked on President Bill Clinton’s campaigns, helped Ehud Barak defeat Mr. Netanyahu’s bid for re-election.

This time it is Jeremy Bird, a former consultant to President Barack Obama, who has Mr. Netanyahu worried. Mr. Bird is working with V15, an independent Israeli organization that doesn’t support specific candidates but urges voters to replace the current government.

Mr. Netanyahu, facing possible defeat, says foreigners are spending millions of dollars to oust him. “Foreign consultants are here in droves, and the money is flowing here,” he told the Jerusalem Post last week.

read more: http://www.wsj.com/articles/israeli-parties-hire-u-s-consultants-for-election-win-1426528370

Legacy Consulting Partners Launches an Innovative Approach to Help Financial Advisors Deepen Multi-Generational Client Relationships

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--After working closely with Financial Advisors over the past 30 years with industry giants such as UBS Trust Company, U.S. Trust, Merrill Lynch Trust Company, Bank of Boston’s Private Bank, and Wells Fargo Bank, trust and estate services veteran Chris Schimmel is addressing a gap long identified in the financial services market. Today he has launched Legacy Consulting Partners, a firm dedicated to partnering with Financial Advisors to meet the growing demand for FA-centric training in the very specific trust and estate services arena.

    “We teach very specific trust and estate techniques that are designed solely for financial professionals”

"Legacy Consulting Partners provides a custom designed and proprietary program that has been proven to differentiate FAs from their competition and increase their revenue while deepening client relationships, it is called The Legacy™ Consulting Process. We teach FAs how to specifically integrate T&E services into their practice while developing multi-generational retention of their clients,” said Schimmel. "This expertise helps FAs grow their AUM, revenue, and client referrals more quickly while providing an extremely valuable service to their clients. The opportunity for FAs to grow their business via trust and estate services is immense and the timing is perfect.”

Michael Roberts, President of Reliance Trust Company of Delaware (an FIS Company), a national corporate trustee that provides trustee services to Financial Advisors and their clients, said, “The current U.S. wealth environment and demographics are shifting, according to 2013 studies by Clientific. Gen X and Gen Y could have a combined wealth that exceeds that of the Baby Boomers as early as 2018. As such, there is a great need for multi-generational client discussions and related services. Multiple studies show that descendants frequently leave their family’s advisors. It will be especially important for FAs to implement trust and estate strategies with the involvement of future generations of their clients. Financial professionals need to be not only conversant, but very knowledgeable in these areas.”

“We teach very specific trust and estate techniques that are designed solely for financial professionals,” said Schimmel, “and we are excited to be sharing our expertise around multi-generational wealth transfer and legacy planning in order to be the Financial Advisor’s choice for premier trust and estate training.”

In addition to individualized consulting services, Legacy Consulting Partners delivers day-long training programs in cities throughout the U.S. The training provides a comprehensive review of estate planning concepts with the integration of trust services and investment management, entirely from a Financial Advisor's perspective, as well as the tools, techniques, and processes needed to fully integrate them into a financial advisory practice. The training program has been approved for CFP® CE credits. 

read more: www.businesswire.com/news/home/20150316006470/en/Legacy-Consulting-Partners-Launches-Innovative-Approach-Financial#.VQiF1OGUL6l

Real Estate: What is an Adjustable Rate Mortgage? ARM

What is an Adjustable Rate Mortgage (ARM)?

Real Estate Terms and Definitions:

Adjustable Rate Mortgage

Quick Definition: Interest rates are periodically adjusted up or down over the life of the loan based on a specified financial index. The plan may have rate or interest "caps" that limit the amount your interest rate may change. An ARM generally carries a lower initial rate than fixed-rate loans because it moves with the market.

Search today's newest Seattle homes for sale

In-Depth Explanation of Adjustable Rate Mortgage

Adjustable rate mortgages have interest rates that change over time.  There are a wide range of ARM products, and they can be financially beneficial in certain situations.  The most common types of adjustable rate mortgages are 3 year, 5 year, 7 year, and 10 year ARMs.

These multi-year ARMS will have a set interest rate for the length of the initial fixed rate period.  For example, a 5 year ARM might be fixed at 3.0 percent for 5 years.  While the market rate for a 30 year fixed rate mortgage might be a higher rate like 4.5 percent, the lender offers an ARM at a lower initial rate because there is the opportunity to make more money at the end of the loan when the interest rate adjusts.

In this scenario, after 5 years of paying on the mortgage at 3.0 percent, the borrower's rate might rise to 4.0 percent in the first year.  The rate could rise again the next year to 4.5 percent.  Adjustable rate mortgages are tied to an index, which is a financial instrument that rises and falls based on the markets.  One example is the London InterBank Offer Rate (LIBOR).  This benchmark rate is what banks offer one another when lending money.  If the rate banks charge one another goes up, the LIBOR goes up, and your adjustable rate mortgage rate goes up.

To put it simply, if it gets more expensive for banks to borrow money, it's going to get more expensive for you to borrow money.  When you get past the fixed rate period of your ARM, your interest rate will be affected by how much it costs banks to lend in that current market.  Your rates, and payments, will go up when banks' costs do.

There are usually caps on ARMs.  They may specify that your rate can't go up more than 1 percent at a time, can only be adjusted once every 6 months, and can't go up more than 5 percent total during the life of the loan.  Every adjustable rate mortgage can have its own terms, so pay specific attention to the details.

Are ARMs Dangerous or Bad for Real Estate Consumers?

Adjustable rate mortgages got a bad rap during the last housing downturn.  Lots of home buyers were qualifying for 2 year ARMS in which they could only afford the first two years' payments.  When the rates adjusted upward, the payments became too high, and many of them went into default and had their homes foreclosed upon.

Like any tool, ARMs can be used wisely or foolishly.  Lax underwriting during the boom (not qualifying buyers on the future payments), lack of credit oversight (loosening of standards that had required good past payment history), and ignorance of future income prospects (no verification of employment and income) led to many ARMs turning into foreclosures.  

see more: http://blog.seattlepi.com/seattlewaterfronthomes/2015/03/10/real-estate-what-is-an-adjustable-rate-mortgage-arm/

Will Ferrell brings celebrities to play tennis for Desert Smash

LA QUINTA, Calif. -

Hollywood meets the hard court at the 11th Annual Desert Smash.

Will Ferrell brought his closest friends to the desert, which happen to be some of the biggest names in Hollywood: Kevin Spacey, Justin Bieber, Lance Bass, Billy Bush, Kit Hoover, Lifehouse, Kevin Hart, the list goes on. 

All these celebrities at the La Quinta Resort , you best believe money is getting raised.

"Ryan who runs the event was nice enough to select Cancer For College as the charity. It's a charity I have been involved with for 20 years now," Will Ferrell said. 

His fraternity brother started it 20 years ago. 

Cancer for College provides scholarships for college students who have battled cancer.

Will of course brought his humor to the desert. 

"I love the painting, this backdrop, the mountains I feel like I can reach out and touch them," he joked. 

After a long day of tennis, Justin Bieber, Natasha Bedingfield, Lifehouse and special guest DJ Bob Sinclar will perform at sold-out cocktail party and concert.

see more: http://www.kesq.com/news/will-ferrell-brings-celebrities-to-play-tennis-for-desert-smash/31725340

Mortgages tick up on mixed economic reports

Mortgage rates edged up this week as the stock market rallied and investors digested a series of mixed economic reports.

"We are definitely seeing upward pressure on rates," says Bob Moulton, president of Americana Mortgage Group in Manhasset, New York.

Some of that pressure comes from a rally in the stock market this week, when the Nasdaq hit its highest level since 2000, closing above 5,000 on March 2.

2014-2015%30-year fixedDecJanFeb3.703.803.904.00

30 year fixed rate mortgage -- 3 month trend

    The benchmark 30-year fixed-rate mortgage rose to 3.93 percent from 3.9 percent last week, according to the Bankrate.com national survey of large lenders. One year ago, that rate was 4.5 percent. Four weeks ago, it was 3.9 percent. The mortgages in this week's survey had an average total of 0.26 discount and origination points. Over the past 52 weeks, the 30-year fixed has averaged 4.19 percent. This week's rate is 0.26 percentage points lower than that 52-week average.

    The benchmark 15-year fixed-rate mortgage rose to 3.16 percent from 3.15 percent.

    The benchmark 5/1 adjustable-rate mortgage rose to 3.28 percent from 3.22 percent.

    The benchmark 30-year fixed-rate jumbo rose to 4.11 percent from 4.07 percent.

Read more: www.bankrate.com/finance/mortgages/mortgage-analysis-030515.aspx

HECM Los Angeles Reverse Mortgage Lenders Receive New Seniors Through Webpage Built By FHA Expert Kevin Leonard

A new reverse mortgage informational page was just recently completed for FHA expert Kevin Leonard. The mortgage professional and his team are very active with reverse mortgages in Los Angeles. The latest reports from the end of December 2014 shows the HECM to HECM refinances were up, as well reverse purchases or better known as the HECM purchase. This figures indicate that more seniors are understanding the benefits of the Home Equity Conversion Mortgage and are choosing to use this type of senior home loan. Those that are 62 years or older and own their home with a good percentage of equity may qualify for a HECM reverse mortgage in Los Angeles. There are more guidelines that the applying senior has to qualify for, so those individuals that are interested should consult with a reverse mortgage specialist by clicking here.

According to Reverse Market Insight, Inc. the largest amount of HECM endorsements in California came from Los Angeles, San Diego and then Orange County in third place most units through December 2014. The mortgage experts working with Mr. Kevin Leonard are seeing 2015 off to a good start for the same types of reverse mortgages. The HECM purchase allows seniors to buy a house with a large down payment and then never have to make a mortgage payment, although the individual would still have to pay property taxes and insurance. The HECM to HECM refinance works similar to a traditional refinances it all depends on the refinance cost relative to the increase in credit line that is currently available on the HECM the senior has. Working with a reverse mortgage specialist in Los Angeles enables the senior to review various options and use the loan that best suits their individual needs. Revere mortgages are not a one size fits all, and is not the best loan for everyone, but for many it can make the difference of affording a comfortable retirement or not. Learn more about the growing number of Los Angeles reverse mortgages begin funded, and how they may benefit seniors by viewing, http://www.kevinleonardmortgageexpert.com/los-angeles-reverse-mortgage-lenders/

About:

Kevin Leonard began in the mortgage business in 1997 and since then he has become one of the leading mortgage experts in the country, and has earned national acclaim for his efforts. Mr. Leonard prides himself in offering constant communication with his clients so that they have a full understanding of the loan process from start to finish. He is personally responsible for thousands of fundings, and along with his team, he has over 5 billion in residential loans funded to his credit. Mr. Leonard has a full understating of the loan process from start to finish, and also consults with a long list of mortgage bankers in the secondary market.

Read more at http://www.virtual-strategy.com/2015/02/27/hecm-los-angeles-reverse-mortgage-lenders-receive-new-seniors-through-webpage-built-fha-e#axzz3TF7xsylb

Five ways you can screw up a management consulting interview

The hardest part of any management consulting interview is the case study portion, where you will break down a hypothetical business problem and offer a recommendation. It’s essentially doing the actual job you are applying for, other than the fact that you are presenting in front of your would-be future employer, not a client.

The key is to make it as much as a business conversation as you can. Deliver insight, ask appropriate questions and stay relaxed, though that’s easier said than done. We asked two current management consultants at top ranked firms to break down the biggest mistakes they see candidates make during interviews. One of these happens during nearly every interview, they say. Steer clear of these five and you’ll be in good shape.

You are a mouse…or a canary

Case study interviews are meant to be extremely difficult. In fact, if you go through one quickly and think you aced it, you probably didn’t ask any of the right questions and did quite poorly.

When faced with a difficult question with their mind racing, candidates tend to do one of two things: stutter out a few words or ramble on with no real method to the madness. Try to avoid either. Asking for 30 or 60 seconds to collect your thoughts and develop a game plan is not looked down upon, they say, and it’s way better than gibbering nonsense or stumbling for words.

Also, do plenty of live case study practicing with fellow students rather than keeping your nose in a textbook studying frameworks. This will help with any butterflies.

You didn’t give an answer

Case study interviews aren’t as much about answering a question correctly – as there usually isn’t a “correct” answer – but rather assessing the process of how you came to a particular conclusion. They want to see you ask the right questions, use frameworks and make strong assumptions, all while doing a little mental math.

However, while the process is most important, you still need to provide an answer or give a firm recommendation. “Some candidates get so caught up in the analysis that they forget to answer the original question,” Keith Bevans, global head of campus recruiting at Bain & Co., told us last year.

Take the interviewer through all the variables and considerations, but always finish the case study with a confident recommendation.

You bored the interviewer

Top consulting firms are incredibly selective. Unfortunately for them, this means they need to conduct hundreds upon hundreds of interviews. And, because they often conduct case studies in groups, recruiters and hiring managers spend a lot of time behind the interview desk.

read more: http://news.efinancialcareers.com/uk-en/198153/five-ways-can-screw-management-consulting-interview/