Digital Transformation: The Mountain Every Business Must Scale
Virender is Chief Executive Officer at Newgen Software Technologies. He attended D. Y. Patil College of Engineering. He has been with Newgen for over 26 years and manages the overall strategic and operational functions for the company’s entire portfolio of offerings. He oversees product development, global sales and marketing, and business enablement, and has spearheaded the filing of various patents in India and the U.S. He holds a Bachelor’s degree in Engineering from Savitribai Phule, Pune University.
With a customer base that is getting younger and more tech-savvy by the day, it is no surprise that businesses nowadays give high priority to digital transformation. How does a business stay forever young in this super-fast moving world? By not just going digital, but keeping up with every new digital trend. While most businesses today are digital, either partly or fully, not each of them grows unless they incorporate the latest in digital transformation.
Mobility is the New Comfort Zone
Picture this; a decade back, it was ground-breaking for a business to be available online 24*7, and on almost every PC or laptop. With the world getting smaller and attention-spans getting shorter, in no time, mobile phones have literally become the only interface customers, people and businesses interact on.
Considering smart phones enable customers and businesses to participate in processes in realtime and from anywhere, it is no surprise mobility is fast emerging to be one of the most significant digital trends. In comparison with traditional ERP systems, mobility is lighter on data and enables people to get work done without having to wait till they reach their work stations. Enterprise Mobility does come with its own set of challenges, but a shift towards it is inevitable for just about any business that has growth on its list of goals.
For instance, one reason banks have moved up the ladder and scaled new heights is because they have been uberquick in implementing mobility solutions as part of their system. Be it making apps available for download or ensuring bank accounts are opened up within five minutes on the same app, the banking sector has mobility to count on for their brilliant growth. It would be tough to find a bank that does not provide some mobility solution, and they keep the ball rolling by constantly upgrading these to match the growing needs of customers and industry a like.
Robots & Bots Got Your Back
While there's no denying that businesses still outsource labour intensive processes for the lack of employees who are skilled enough to pull off the actions. Would they continue doing so if there were software programs that could reduce the need for such repetitive human effort? Probably not; This is where Robotic Process Automation comes in, and serves the purpose by mimicking business processes and tasks to ensure they mirror human action, thereby augmenting humans. It makes business massively profitable by ensuring talented employees are not caught up with the mundane tasks of repetitive decision-making and collating data from several sources. Employees can then focus on objectives that are more crucial to the growth of business.
Moreover, robots rarely take or need holidays; hence an organization that employs them shall never have to worry about this particular resource ever being unavailable. With RPA, a business gets an employee who gets mundane tasks done faster and more efficiently as well as at a constant pace, sans any extra costs being incurred. Happy customers are a perk given how bots can be trained to make sensible and sensitive customer communication, without getting hurt at rude customer behaviour.
An IoT of Difference
The IoT a.k.a ‘Internet of Things’ is coming up fast and is expected to take almost every industry by storm. Be it a person with a heart monitor or a smart phone or driverless public transit systems, the world is on its way to ensuring almost every spec of existence has an IP address to it. Smart cities with all-time video-surveillance and driverless parking lots are making life a lot smoother, easier and faster. It is no rocket science then that not only businesses, but everything from waste to water to disaster management is on their way to becoming a lot less human labour intensive.
The Social Media Savvy Third Platform
Commonly known as SMAC, the platform born out of inter-dependencies between social media, cloud computing, and analytics is the next big thing so far as business growth and efficiency is concerned. Human intelligence remains important, but is often not enough for businesses and organizations to grow and sustain. Bringing in artificial intelligence makes data smarter instead of throwing heaps of non-segregated data onto organizations. By decoding both structured and unstructured data, BPM topped with SMAC can make decision-making processes a lot faster and also ensure remedial actions are more efficient, especially handy when dealing with an agitated customer. Given how millennials form a majority of the consumer as well as employee base, it would be way too risky to leave social media out of the business growth narrative. Almost every popular organization and business out there in the market owes their fan-base to the power of social media. Social media is what most customers carry with them on their mobiles no matter where they go. A business which does not cash in on such a medium to enter the minds and memories of customers would lose out on a massive opportunity.
Most of this involves moving a lot beyond initial experimentation, but change is the only constant. In the 21st century, a strong BPM platform sprinkled with upcoming technology is the sure shot road to success.
With a customer base that is getting younger and more tech-savvy by the day, it is no surprise that businesses nowadays give high priority to digital transformation. How does a business stay forever young in this super-fast moving world? By not just going digital, but keeping up with every new digital trend. While most businesses today are digital, either partly or fully, not each of them grows unless they incorporate the latest in digital transformation.
Given how millennials form a majority of the consumer as well as employee base, it would be way too risky to leave social media out of the business growth narrative
Mobility is the New Comfort Zone
Picture this; a decade back, it was ground-breaking for a business to be available online 24*7, and on almost every PC or laptop. With the world getting smaller and attention-spans getting shorter, in no time, mobile phones have literally become the only interface customers, people and businesses interact on.
Considering smart phones enable customers and businesses to participate in processes in realtime and from anywhere, it is no surprise mobility is fast emerging to be one of the most significant digital trends. In comparison with traditional ERP systems, mobility is lighter on data and enables people to get work done without having to wait till they reach their work stations. Enterprise Mobility does come with its own set of challenges, but a shift towards it is inevitable for just about any business that has growth on its list of goals.
For instance, one reason banks have moved up the ladder and scaled new heights is because they have been uberquick in implementing mobility solutions as part of their system. Be it making apps available for download or ensuring bank accounts are opened up within five minutes on the same app, the banking sector has mobility to count on for their brilliant growth. It would be tough to find a bank that does not provide some mobility solution, and they keep the ball rolling by constantly upgrading these to match the growing needs of customers and industry a like.
Robots & Bots Got Your Back
While there's no denying that businesses still outsource labour intensive processes for the lack of employees who are skilled enough to pull off the actions. Would they continue doing so if there were software programs that could reduce the need for such repetitive human effort? Probably not; This is where Robotic Process Automation comes in, and serves the purpose by mimicking business processes and tasks to ensure they mirror human action, thereby augmenting humans. It makes business massively profitable by ensuring talented employees are not caught up with the mundane tasks of repetitive decision-making and collating data from several sources. Employees can then focus on objectives that are more crucial to the growth of business.
Moreover, robots rarely take or need holidays; hence an organization that employs them shall never have to worry about this particular resource ever being unavailable. With RPA, a business gets an employee who gets mundane tasks done faster and more efficiently as well as at a constant pace, sans any extra costs being incurred. Happy customers are a perk given how bots can be trained to make sensible and sensitive customer communication, without getting hurt at rude customer behaviour.
An IoT of Difference
The IoT a.k.a ‘Internet of Things’ is coming up fast and is expected to take almost every industry by storm. Be it a person with a heart monitor or a smart phone or driverless public transit systems, the world is on its way to ensuring almost every spec of existence has an IP address to it. Smart cities with all-time video-surveillance and driverless parking lots are making life a lot smoother, easier and faster. It is no rocket science then that not only businesses, but everything from waste to water to disaster management is on their way to becoming a lot less human labour intensive.
The Social Media Savvy Third Platform
Commonly known as SMAC, the platform born out of inter-dependencies between social media, cloud computing, and analytics is the next big thing so far as business growth and efficiency is concerned. Human intelligence remains important, but is often not enough for businesses and organizations to grow and sustain. Bringing in artificial intelligence makes data smarter instead of throwing heaps of non-segregated data onto organizations. By decoding both structured and unstructured data, BPM topped with SMAC can make decision-making processes a lot faster and also ensure remedial actions are more efficient, especially handy when dealing with an agitated customer. Given how millennials form a majority of the consumer as well as employee base, it would be way too risky to leave social media out of the business growth narrative. Almost every popular organization and business out there in the market owes their fan-base to the power of social media. Social media is what most customers carry with them on their mobiles no matter where they go. A business which does not cash in on such a medium to enter the minds and memories of customers would lose out on a massive opportunity.
Most of this involves moving a lot beyond initial experimentation, but change is the only constant. In the 21st century, a strong BPM platform sprinkled with upcoming technology is the sure shot road to success.
