In the face of the unknown, enterprises are increasingly turning to robotic process automation, end-to-end process assessment, and tools that provide operational insights to drive innovation. Jon Knisley, principal, Automation and Process Excellence at FortressIQ, elaborates on the benefits of automation.Â
Businesses today are contending with an abundance of new and complex challenges. Companies face tough decisions around financial and operational activities, all while trying to keep their customers and employees happy.
During times of uncertainty, the natural tendency of organizations is to revert to familiar business models and put any innovation initiatives on the back burner. However, if companies want to thrive when things start looking up, it is important that they move forward with their investments in digital transformation.
Unlike past events that have caused economic disruptions, such as 9/11 or the 2008 financial crisis, the global nature of the current pandemic is putting significantly more strain and attention on the supply chains. This will accelerate the shift in transformation programs, emphasizing back-office digital operationsOpens a new window , while shifting away from front-office activities.Â
In the last decade, most digital transformation initiatives have been aimed at addressing the customer experience (CX) paradigm shift that was fueled by technologies putting more information and autonomy in the hands of end-users. This is all despite the fact that shifts in operational excellence have the potential to drive more value to the enterprise; the focus has long been on addressing customer experience issues.
Here are three areas in which companies can start leveraging process intelligence to accelerate digital operations transformation and maintain the path toward continued growth:
Scale RPA Adoption
While many companies have committed to adopting RPA technology, the majority are failing to scale their programs beyond a handful of bots. It turns out that the challenge here is not programming the automation, but rather prioritizing and planning it.
Process intelligence is ideal for addressing this scaling issue in a quick and cost-effective way and helping companies transition from the tactical problem-solving phase to strategic transformation.
Conduct True End-To-End Process Assessment
Application sprawl is a significant and growing problem in the enterprise. Netskope reports that an average large company uses more than 1,000 SaaS applications, significantly increasing its network complexity.
With this level of complexity, it can be challenging to achieve a full end-to-end process understanding of a company’s core functions. Today’s business environment makes it more critical than ever for organizations to accurately understand their entire supply chain, all the way from procurement of raw materials to acquisition by the actual customer.
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Gain Unprecedented Operational Insight
Companies across industries are working hard and evolving to be more data-focused and strategic by implementing data-driven decision making across the enterprise. However, this is only possible if a company has solid insight into how they operate. The ability to assess current operations empowers organizations to anticipate future requirements to meet strategic corporate objectives around workflow automation, customer experience, analytics, and risk management.
In uncertain times, it may seem easier and safer for businesses to play defense and put transformation initiatives on hold. But many massive enterprises, such as FedEx, General Electric, Facebook, and Salesforce, have successfully launched and thrived during challenging times.
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Transformation Success Stems From Process Intelligence
In today’s landscape, leaders need to examine their digital operations to explore how they can be leveraged to make their business stand out against the competition and prove their resilience amidst challenging and unprecedented times. Process intelligence is the first step in reaching increased operational intelligence for an organization — learning and understanding the company’s current state of activities. Without situational awareness of how a company operates, it is nearly impossible to undertake a successful digital transformation Opens a new window program.
Through process intelligence, organizations can access and collect data in a manner that allows them to take steps to gain intelligence into business operations and workflows. Once this information is obtained, an organization can identify bottlenecks, eliminate them, and improve operational efficiency.
Artificial intelligence is especially valuable for process intelligence. Computer vision, natural language processing, and machine learning can be used to analyze processes and workflows. By capturing a process with AI and related technology, businesses can get more detailed activity data and create a comprehensive picture of operations at less cost, faster than what was possible previously.
Companies who continue to innovate and transform will emerge from the current environment more resilient and capable than their counterparts.
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