Fundamentals of Digital Transformation- Embracing Speed and Agility
Successful companies are leveraging digital transformation to become more customer-centric while enhancing their operational processes to accommodate new customer behavior. Customer experience, business agility, and operational efficiency are the primary goals that drive organizations to undergo a digital transformation.
According to the Economist Intelligence Unit (EIU), 77 % of businesses state that digital transformation is their first strategic priority. Digital transformation requires modern organizations to be both bold and agile in order to keep up with the pace of the evolving landscape. Companies strive for not only modernizing or digitizing the existing processes but also facilitating faster time to market for new products.
When undergoing a digital transformation, businesses have to create new processes, from new business models and teams, and invest in new technologies and systems to stay alive and evolve in today’s business environment. Driven by the need for speed and agility along with the need for efficiency and optimization organizations are now turning to business process management (BPM) powered by advanced case management as a key driver of digital transformation. While BPM focuses on managing the structured and repeated processes, dynamic case management (DCM) works on an ad hoc basis to manage unstructured, “untamed” processes.
The synergy between DCM and BPM augments organizations’ capabilities to quickly respond, change direction, be flexible and achieve a competitive advantage as opportunities develop, customer needs evolve and market dynamics change. As a result, process innovation leads to gaining a competitive advantage and delivering more value.
With increasing amounts of data, digital interactions, and a number of disjointed processes, tools, and applications available on the market now, even leading organizations are struggling to keep pace with digital transformation challenges and are increasingly seeking solutions to help them remain competitive without allocating many resources. BPM low code development solutions with strong modeling capabilities enable organizations to implement changes faster than ever.
Low-code development has evolved to take advantage of visual design tools. With drag-and-drop process designers and point-and-click interface creation, the low code development platform allows for the rapid creation, optimization, launch, use and change of business process and even business applications. This enables users with no IT background to build and launch a process within minutes and makes BPM available to each user. In addition, low-code development drastically cuts the expenses on the digital transformation process and on IT maintenance overall. BPM solutions with low-code or no coding capabilities enable organizations to meet the challenge of innovation, rapid adoption, and digital business transformation.
While BPM drivers are shifting toward digital automation and customers, Artificial Intelligence (AI) is emerging as a means of data-backed decision making and more personalized customer experiences. AI and machine learning are the sources of injecting intelligence into business processes and pushing BPM capabilities to their limits which accelerate the Digital Transformation initiative dramatically. Surviving and thriving in the digital economy means transforming them into opportunities for innovation and business growth. Digital transformation has morphed into a core element of modern business strategy and unique competitive edge.
With fast-changing digital technologies, business process management becomes the preferred method for value creation, high-quality customer experience, cross-functional collaboration and digital transformation. BPM lies at the crossroad of operational efficiency, business agility, and customer experience. Intelligent BPM tools paired with a robust CRM deliver the required level of agility to change customer-facing processes instantly while allowing for the delivery of a consistent and unique experience across all channels and touchpoints. Organizations that undergo the digital transformation initiatives backed by intelligent and agile tools, will be empowered to uncover new opportunities and gain a competitive advantage.