Digital Transformation Journey Part 2
A blueprint for success
In our previous post, we talked about the two core principles of digital transformation. We highlighted that digital transformation is not about designing and deploying disruptive technologies only; it is more about a mind-set to evaluate the business models with a perspective to drive business value.
IDC predicts that by 2020, 50% of the Global 2000 will see much of their business depends on their ability to create digitally-enhanced products, services, and experiences. Moreover, in 2019, enterprises worldwide will spend $2.1 trillion on technology and related services to implement and manage Digital Transformation initiatives; there is a major opportunity in this area but there is also a large amount of risk involved. Understanding how to manage current initiatives and move them forward is a key to create and execute a Digital transformation strategy.
At Abacus, we have designed a journey to digital transformation that can deliver the right results to the organizations that are planning to remain relevant in today’s digital economy. The key components of the journey are:
Robotic Process Automation: Capgemini defines Digital transformation as, “the use of technology to radically improve performance or reach of enterprises...Executives in all industries are using digital advances...to change customer relationships, internal processes, and value propositions. Other executives, seeing how fast digital technology disrupted media industries in the past decade, know they need to pay attention to changes in their industries now.”
As a burgeoning technology, Robotic Process Automation (RPA) has capabilities to support a digital transformation initiative. By starting with automation of processes through RPA organizations can accelerate their digital journey. To understand the potential of RPA, let’s understand its role in the digital journey. Businesses, irrespective of their size and nature, have processes that are common such as processes involved in Finance & Accounting, HR & Payroll, Administration & IT support, Sales & Marketing, and Supply chain. With RPA, businesses can automate mundane and repetitive tasks, allowing employees to focus on more strategic initiatives. Several organizations have implemented technologies to automate these processes, however; with a single robot, organizations can automate a list of more than 600 actions in a given sequence.
Integration of Internal Systems: Unparalleled customer experience is one of the core benefits of digital transformation. And disconnectedness is the major contributor to the bad customer experience. According to a survey, 72% customers blamed their bad customer service interaction on having to explain their problem to multiple people. Moreover, 42% of service agents are unable to efficiently resolve customer issues due to disconnected systems, outdated user interfaces, and multiple applications. Through Integration Platform as a Service (iPaaS), organizations can break internal silos with agility and achieve internal connectivity at the faster rate.
Open APIs: The success of businesses today relies upon delivering products and services to the customers whenever and wherever they want. Open APIs play a significant role for businesses to remain successful in the fourth industrial revolution. However, without organizing the internal mess through RPA and integration, exposure to the outer world becomes a daunting challenge. With open APIs, organizations can deliver connected customer experience, generate new revenue streams and achieve endless opportunities to uberize.
Digital Experience Development:
We are living in a world where people work across multiple devices every day; from Tablet at home to Desktop at work to Laptop in meetings and Smartphone everywhere else. As a result of which successful digital transformation strategies heavily focus on both front-end User Experience (UX) and the back-end systems and applications management. Through a successful digital experience development platform strategy, businesses can offer exceptional and reliable digital experience across devices for customers and employees.
Digital transformation is the name of the game. However, many projects fail only because of wrong digital strategy. Initiating the journey by automation of internal processes and integration of internal systems, then exposure of digital assets to the outer world in the form of APIs and finally delivering an exceptional digital experience to the customers allow organizations to drive real business value.