Your executive team is hesitant about new technologies. How can you overcome their skepticism?

Understanding their concerns and addressing it, sharing success stories, learnings from other organisations and executives are important steps to securing buy in. There is also a need for continuous engagement, to seek feedback and demonstrate business benefits of the new technology

Schedule dedicated meetings or one-on-one discussions to hear their concerns without interruptions. Allow each member to express their doubts, fears, and reservations about the new technology. Once you have a clear understanding of their concerns, prepare educational materials and information about the new technology. Explain how the technology works, its benefits, and provide examples or case studies of successful implementations in similar organisations. Proactively address their specific concerns about risks and challenges associated with the technology.

Creating a sense of shared value can also help. In my experience, I show these values using 3 key boundaries - revenue increase, cost savings and cost avoidance. Running a small pilot also helps, if the pilot fails, the change can be rolled back.

Start with understanding their concerns and then highlighting the benefits of new technology to the project/ program and how the technology is going to benefit them in terms of improvement/ optimisations. Ensure that proper training is been given to the team and enough hands on has been done to ensure proper utilisation of the technology and also to remove any reservations

Training would come ideally after the change has been adopted. I think one of the most potent approaches is to show how the industry would evolve and how the competition has adopted the change.

This problem can be solved by first, creating a form of simulation for them to see and understand the value such technology(ies) is bringing to the table. And also, implementation has to be on piece meal basis so that they're able to see the gradual impacts and make quick improvements where need be without disrupting the system completely should the unexpected happen. And moreso, no change can be successful without communication. So communication is very important so as to carry the relevant stakeholders along and secure their acceptance of the proposed technology

The ROI should be extended to non tangibles, it should transcend accounting/finance. Other suggested considerations are: How does this help the customer? (internal or external) Brand positioning Investor reactions in the case of publicly listed companies. Employee needs, does this make our employee better, improve efficiency etc?

I have witnessed the impact of pragmatic and down-to-earth facts and figures. Given the cautiousness of some executives, I believe it's best to adopt a business-focused and realistic approach in discussing these topics. A generic statement such as 'by implementing X, you can achieve efficiency' rarely, if ever, makes a positive impression. Rather, using hard evidence has always been a good way of allowing interlocutors to see things differently, as saying 'by implementing X, Companies have generally achieved a 45% reduction in time to process the applications. Specifically, Company A and Company B, comparable to us by size and structure, have achieved a reduction of 55% and 50% respectfully. The increase in productivity was...'

Provide a detailed financial analysis that outlines the potential cost savings and revenue opportunities associated with the technology. Include projections for both short-term and long-term financial impacts. Break down the ROI calculation into components such as: Cost Savings: Estimate reductions in operational costs, labor costs, or savings from process efficiencies. Revenue Generation: Forecast potential increases in revenue from new markets, improved product offerings, or enhanced customer retention. Avoided Costs: Consider potential costs that could be avoided, such as penalties, downtime, or regulatory fines. Highlight the payback period and the net present value (NPV) to demonstrate the financial viability of the investment.

Pilot programs provide a tangible demonstration of how the new technology works in a real-world or controlled environment. This allows executives to see the technology in action and understand its potential impact firsthand. Measure key performance indicators (KPIs) relevant to the technology’s objectives, such as efficiency gains, cost savings, or improved customer satisfaction. Use pilot outcomes and testimonials from participants to showcase positive results and address initial skepticism.

Do also ensure there is proper monitoring and evaluation. Another suggestion is to choose change champions who would help evangelize the importance of the new software. They should be equipped with the tools to tell the right story

I also think that for the training to be effective, there must be some rewards for compliance. In my experience, these rewards could be spot bonuses for departments who are most compliant - it could come in terms of cash or public recongnitions