Managing an Enterprise Product

Introduction

In Product Management, roles and responsibility can vary based on the nature of the product that is being managed. In today’s newsletter, I explore the nuances between managing an enterprise product, such as ServiceNow, Miscrosoft 365, Salesforce, StarRez, and managing a B2C Product from ideation to launch.

Inspired by own journey as a StarRez product owner, I will talk about the differences, advantages, disadvantages, and provide concrete examples to highlight these distinctions.

My focus and goal is for new and aspiring product managers to gain deeper insights and understanding into the world of product management.

Managing an Enterprise Product

Role Overview: An enterprise product manager or product owner typically oversees the implementation, customization, and ongoing enhancement of a pre-existing software solution within an organization. For example, a ServiceNow product owner manages the deployment and optimization of ServiceNow’s IT service management platform, while a StarRez product owner handles the student housing management software.

Key Responsibilities:

1. Customization and Configuration:

   • Tailoring the enterprise software to meet the specific needs of the organization.

   • Ensuring the software integrates seamlessly with other systems used within the company. For example, in my role, I have to ensure StarRez is integrated with the finance system, estates system, maintenance system, and other systems used in my place of work.

2. Stakeholder Management:

   • Working closely with various departments to understand their needs and translate them into software functionalities.

   • Managing vendor relationships to ensure continuous support and updates.

3. Training and Support:

   • Providing training sessions for end-users to maximize the software’s utility.

   • Offering ongoing support to address any issues or enhancements required.

Example: A ServiceNow product owner might work with the IT department to implement custom workflows for incident management, ensuring that the platform aligns with the company’s internal processes.

Advantages:

• Speed of Deployment: Faster to implement as the core product already exists.

• Proven Solutions: Leveraging a product with a track record of reliability and performance.

• Vendor Support: Access to dedicated support and regular updates from the software vendor.

Disadvantages:

• Limited Flexibility: Customization options may be limited compared to building a product from scratch.

• Dependency on Vendor: Reliance on the vendor for major updates and fixes.

• Cost: Often involves licensing fees and additional costs for customizations and support.

Examples of Other Enterprise Products

In addition to ServiceNow and StarRez, several other enterprise products play critical roles in various industries. Here are a few notable examples:

1. Salesforce

   • Overview: Salesforce is a leading customer relationship management (CRM) platform that helps businesses manage sales, customer service, marketing automation, analytics, and application development.

   • Use Case: Companies use Salesforce to streamline their customer interactions, manage sales pipelines, and analyze customer data to drive strategic decisions.

2. SAP ERP

   • Overview: SAP ERP is an enterprise resource planning software that integrates various business processes, including finance, HR, procurement, and supply chain management.

   • Use Case: Large organizations use SAP ERP to improve operational efficiency by automating and integrating key business processes.

3. Oracle PeopleSoft

   • Overview: Oracle PeopleSoft provides solutions for human capital management (HCM), financial management, supply chain management, and customer relationship management.

   • Use Case: Organizations deploy PeopleSoft to manage HR processes, financial operations, and customer service workflows.

4. Microsoft Dynamics 365

   • Overview: Microsoft Dynamics 365 is a suite of enterprise resource planning (ERP) and customer relationship management (CRM) applications.

   • Use Case: Businesses leverage Dynamics 365 to unify their data, streamline operations, and enhance customer engagement through integrated applications.

5. Atlassian Jira

   • Overview: Jira by Atlassian is a project management tool widely used for issue tracking and agile project management.

   • Use Case: Software development teams use Jira to plan, track, and release software efficiently, with tools tailored for agile methodologies.

   • Reference: Atlassian Jira

These enterprise products are designed to solve complex business challenges and are integral to the operations of many large organizations. Each offers unique features and benefits that cater to specific business needs, further illustrating the diverse landscape of enterprise product management.

^{Understanding these differences is crucial for new and aspiring product managers to align their career paths with their skills and interests. Embracing the right approach can lead to significant contributions within their organizations and the broader market.}

Building a Product and Managing B2C Products

Role Overview: A product manager building a product from scratch is involved in the entire lifecycle, from ideation and development to market launch and iteration based on user feedback.

Key Responsibilities:

1. Market Research and Ideation:

   • Conducting thorough market research to identify gaps and opportunities.

   • Developing a product vision and roadmap based on market needs.

2. Development and Testing:

   • Leading the product development team to build the product from the ground up.

   • Overseeing rigorous testing phases to ensure the product meets quality standards.

3. Launch and Marketing:

   • Strategizing the product launch and marketing efforts to attract users.

   • Continuously gathering user feedback for future improvements.

Example: A product manager might identify a need for a new personal savings mobile application that addresses specific pain points not covered by existing solutions. They would then guide the team through the development process, from wireframing to coding and beta testing.

Advantages:

• Complete Control: Full control over the product’s features, design, and roadmap.

• Unique Value Proposition: Ability to create a product that precisely meets market needs.

• Innovation: Greater scope for innovation and differentiation.

Disadvantages:

• Time-Consuming: Longer time to market as the product needs to be built from scratch.

• High Risk: Higher risk involved with untested concepts and potential market rejection.

• Resource Intensive: Requires significant investment in terms of time, money, and manpower.

In Summary…

Both managing an enterprise product and building a new product have their unique challenges and rewards. As an enterprise product owner, you benefit from a quicker deployment and proven technology but face limitations in customization and vendor dependency. Conversely, building a product from scratch allows for complete control and innovation but comes with higher risks and resource demands.

Understanding these differences is crucial for new and aspiring product managers to align their career paths with their skills and interests. Embracing the right approach can lead to significant contributions within their organizations and the broader market.

By considering these insights, new and aspiring product managers can better navigate their career choices and drive successful product outcomes.