By digitizing operations and standardizing processes globally, organizations can become more responsive to changes in the marketplace and agile.
For businesses that use the SMAC stack, namely Social, Mobile, Analytics and Cloud and the newest digital solutions, the major benefits can grow very quickly. These organizations have disrupted their industries and changed the way their counterparts approach their business.
Organizations today have a gamut of IT solutions to consider for growing operational efficiency and business capabilities. Failure in identifying and using these tools often make the rules of engagement a big challenge. As a result, companies lose out on most profit-intensive business opportunities.
Not all digital elements are relevant for every industry. It’s not about digitizing everything, it’s about what needs to be digitized to be competitive and effective. For digital transformation to be successful, it has to be tailored as per the organization’s readiness to operate its business with agility. Hence, it is crucial to identify the most important focus areas.
To deal with the fast changes in the market place, organizations need to ensure new processes get implemented faster. In addition, they have to meet quality standards and compliances while reducing the time taken to market their products and services. For this, they need to transcend from a functional to a process-intensive mindset.
Since the marketplace has turned more dynamic than ever before, stiff, inflexible business processes have lost their relevance. As a result, standard processes are getting replaced by adaptive processes. In this digital era, number of customers switching brands is proliferating rapidly and organizations today simply cannot afford to neglect this fast changing trend.
For retention of existing customers and acquisition of new customers, organizations need highly proactive, user-centric and customer-centric processes in place. Therefore, enterprises are building build agile and flexible business processes to align their design and process changes in tune with the market changes.