Digital transformation pushing businesses to modernisation processes
While digital transformation is rapidly taking its place as the holy grail of businesses around the world today, there is insufficient emphasis placed on the proper alignment of the three key elements that make this transformation possible: business processes, people and technological prowess.
That's one of the key findings of a digital transformation survey of 1 000 senior IT and business leaders in large global companies operating across a range of industries undertaken by technology consulting company, Infosys.
The survey report, How Enterprises Are Steering through Digital Disruption, noted that respondents recognised that process modernisation was required to better support organisational objectives and, as a result, increase revenues and profit and improve customer satisfaction.
Digital technologies are used across a variety of areas in the respondents' organisations, most commonly in IT management (79%) customer relationship management (62%) and business process management (60%).
Respondents agreed that new, digital technologies could improve current business processes, and thus help make organisations as flexible and agile as possible to keep with emerging trends in each industry.
In the automotive industry, for example, a respondent stated that modernising design and manufacturing processes was a priority, along with digitalising the manufacturing supply chain. However, the industry was battling with implementing the constantly evolving technologies within their organisations, largely due to a shortage of the key skills required to operate and utilise the technologies correctly.
The survey also found that the modernisation of process was a key requirement within the consumer-packaged goods sector as well. This was to enable manufacturers to make product design changes on the fly, rather than waiting until the product had crashed in the market; and to improve issues with seasonality, partner demands and opportunities to sell directly to the consumer, as well as to aid with scalability.
"The modernisation of processes using digital technologies is drastically changing the way organisations work across all sectors. Not only is there potential to modernise process within sectors, but there is also the capability to automate and collaborate with digital technologies.
"In addition, digital technologies are being used to reassess and revolutionise existing processes to quickly react to constantly changing trends and needs. By accelerating business activities, successful digital organisations are benefiting from lower costs, increased revenues, and business growth, and therefore providing a positive change for consumers and customers," the report concluded.