Internationally heavy tech profile, former executive of Gartner Research Peter Søndergaard, has joined the software company DecideAct as chairman and investor.
-- Peter Søndergaard has joined DecideAct as Chairman of the Board and investor. This furthers the young Danish software company's efforts to become a leader in digital implementation of business strategies. For 30 years, Søndergaard has been the global Executive Vice Precident of Gartner Research, where he built and managed the research unit for the world leader in identifying IT trends, and he is convinced that companies everywhere will be able to benefit from the digital solution offered by the young software company. He describes it is a pioneer and the start of a global trend in Strategy Execution Management (SEM).
“There are things that companies must do all the time. One of them is to develop strategies and implement and execute them. DecideAct offers a platform capable of automating this process for the first time. We have long had systems that automate the financial and sales aspects of organizations. Doing this in terms of strategy is new and groundbreaking and I see tremendous development potential for me,” says Søndergaard.
NEED TO DIGITALLY POWERING STRATEGIES
Gartner recognizes solutions for automating strategy execution as a new category. A scope document has identified and listed companies offering digital solutions in the field—including DecideAct.
Søndergaard continues, “In my opinion, this field has the potential to develop in a direction similar to that of Customer Relations Management with Salesforce as its dominant player and Human Resources with SuccessFactors in the lead. Similarly, we will see unicorn companies emerge in the Strategy Execution Management (SEM) category described in the Gartner document. In my opinion, DecideAct has the potential to become the leader in this arena.”
Søndergaard believes that all large companies will need to digitally power their strategies in the future. The Corona crisis has furthered this need: successful strategy execution is vital to recovering from a critical situation. According to Søndergaard, it is especially crucial that you have a flexible and agile process.
“DecideAct is a digital platform that can help businesses at this central point. The platform enables all members of an organization to be active in strategy execution. Management can follow the progression from day to day. And every single employee can literally carry around their share of execution on their mobile phone, continually aware of what needs to be done and when,” Søndergaard elaborates.
AS RIGOROUS AS FINANCIAL GOVERNANCE
The two inventors and founders of DecideAct, Flemming Videriksen and Bjarni Jónsson, have for a lifetime worked with strategy development, helping all types of companies formulate their strategies. An ever-growing disappointment in seeing many good strategies get lost in implementation made them decide to develop a software that could automate the strategy process and once and for all put an end to a waste of resources that, according to leading experts, costs companies across the world three billion dollars every minute.
“We have spent the last five years mapping and understanding the mechanisms of successful strategy implementation and governance. We teamed up with some of the leading tech developers in Europe, resulting in a digital platform that ensures the same rigorous governance for strategy that we know from financial governance. That means a digital infrastructure for the strategy that gives management a complete overview of progress and helps the team members get their tasks done,” says Videriksen.
At a time when many companies are struggling to survive, DecideAct is doing very well. Even in the midst of the Corona crisis, DecideAct has attracted new investors—and more are on the way.
“We are embarking on an investment round, which means we can scale up even more next year. We plan to become a global leader; to get there, we must be supported by a competent and internationally oriented board. With Peter Søndergaard at the head of the table, we have set the bar high for those who will fill the other chairs,” concludes Videriksen.
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