Why is Transformation and Digitalization of Business Processes Necessary?
A significant focus of corporate activity has always been on business processes. The business process is essentially a collection of several tasks performed by individuals to develop a product or service for a certain set of customers in a specific timetable. These types of processes are time-consuming and affect productivity. Digitizing can entirely reconfigure the processes; for instance, manual processes can be replaced by integrating automated decision-making with self-service. Technology is one of the most significant drivers for business growth. The development and adoption of emerging technology have undeniably driven organizations, which has had the greatest effect on business processes.
Digitizing can reduce the effort, but choosing the right technology for the right process is chaotic. There should be the right transformation track to change the business process from end‐to-end alignment. Along with that, important matrices of a business such as processes, organizational data, metrics, and technology should also be aligned with the strategic objectives and tactical demands of the business. Many companies involved in business process transformation simply make a drastic update to the existing processes.
There are several reasons for an organization to undergo business process transformation. Highly competitive market conditions and disruptive technologies are forcing traditional business models to change and are revolutionizing employee and consumer expectations. The ability to adapt to change is crucial for businesses which want to ensure a competitive advantage. Businesses have, therefore, become more agile so they can flex and adapt in response to the constant change.
Factors Triggering Business Process Transformation
- Technology change
- Efficiency drive
- Cost reduction
- Lack of business growth
- Merger or acquisition
- New business leadership
- Low customer satisfaction
- Rising customer expectations
- Political scenario
Challenges in Business Process Transformation
- Weak engagement
- Lack of change management practices
- Missing out on key objectives
Why and When One Should Go For Business Process Transformation?
- An existing process is not meeting the demands of the business
- A significant number of errors in a process
- Your company is outdated as per the industry technology
- Your existing corporate organization no longer makes sense
A process is a repeatable aspect of business operations that can be optimized to boost efficiency by leveraging digital transformation. Digital transformation covers all aspects of business, be it a digital business, a business in the transition stage, or a business that follows traditional processes. Many organizations in the middle of the digital transformations journey seek more clarity for measuring the progress, gauging maturity and benchmarking against the competitors in their industry.
However, digital transformation for enterprise is not seen as a singular activity, but a set of interrelated activities that span across people, process, technology, policy, and metrics. At Alvarium, we connect all the dots to make a strategic roadmap for companies to achieve the desired goals. We command a unique solution for the industry, in which our collaborative approach drives any company through a continuous transformation journey to optimize the business and processes. Our transformation roadmap has improved the processes of the companies at a greater level.
For instance, a leading collision repairer based out of The Netherlands wanted us to improve their business process and ecosystem to establish a single point of connection in collision emergencies. We identified the need for developing a platform which is flexible and can help optimize their process. We proposed them one-stop collision repair solution with an integrated ecosystem of Collision repair stakeholders.
With our design-led thinking and systematic digital transformational roadmap, we have redefined our client’s transformational journey in five weeks. It improved their daily process requests by 300%, saved 2100 man-hours weekly and increased customer satisfaction index by 80%.
We can help you achieve this. Connect with us email@example.com.