An astounding 80-90 percent of companies have Business Transformation as one of their top priorities for 2017. More importantly, 40 percent claim that it is the #1 priority. A common theme among these businesses is the need to rapidly optimize business processes and offer ever-evolving products and services to delight their customers. In addition, all this needs to be accomplished in a flexible, low code and cost-efficient manner. The ultimate goal is to make the cost of change inexpensive.
As the world accelerates towards being fully connected, global and technology driven, excellent customer experiences crush incumbents in record time. It is not enough to merely execute transactions efficiently. Companies need to provide differentiated offerings that consistently evolve customer efficiency and the overall customer life-cycle experience.
Many leading organizations recognize that they are forced to quickly embrace digital agility in everything they do. This requires being able to pivot both strategically and operationally. Fortunately, this is where Intelligent Business Process Management Software (iBPMS) can add significant value to Enterprise operations. iBPMS is designed to orchestrate ever-increasing system complexity while facilitating the rapid deployment of customer facing innovations. The latest generation of these platforms provides:
- Workflow and Collaboration
- Visual Graphical Process Designer
- Third-party Integrations
- Business Activity Monitoring
- KPI Reporting
- Predictive Analytics
Change is constant and iBPMS solutions are designed specifically to manage that change. Software providers like Appian, Pega Systems and OpenText offer powerful orchestration platforms that help organizations integrate their mega-processes across multiple systems. This class of software focuses on business process optimization and can drastically improve both the efficiency, agility and customer service capabilities across the Enterprise. The challenge of constant efficiency gains and operational flexibility can only be met by extremely agile processes and software. Current iBPMS solutions also enable social collaboration, mobile access, data integration, predictive analytics and can be leveraged both in the cloud as well as on-premise. In general, BPMS platforms are designed to be a layer on top of your existing transaction systems and can facilitate highly functional, efficient, intuitive and excellent UX experiences while providing a rapid to market.
A partial alternative to iBPMS is to create customized portals to provide the organization a high degree of functionality, structure and analytics. Unfortunately the cost of customized solutions are very high.
It is estimated that in most company, approximately 50-60 percent of all occupations could have at least 30 percent of their tasks automated by existing iBPMS technologies. High volume cross-functional workflows that leverage siloed systems are an excellent fit for iBPMS solutions. These platforms can deliver workflow and process optimization to companies and help eliminate larger volumes of unstructured data such as email and other ad hoc communications. This reduces information chatter significantly and improves the efficiency of daily operations.
Legacy System Problem
While iBPMS was originally designed to help manage intra-department workflows via extensive coding, it has recently evolved to become a low code environment that easily connects with many existing systems. As companies strive to deliver high-value differentiated services, the reality is that large ERP software solutions make it very difficult to customize service experiences. iBPMS technologies are perfect for integrating fragmented parts of an Enterprise’s Mega-processes.
The ability to deliver an excellent “Customer First” experience requires that many internal processes are highly integrated and the overall system architecture is both flexible and in alignment. This alignment does not come from a single implementation project, but from having a digital strategy, a digital platform and a portfolio of integrated strategic initiatives.
As an example of digital transformation using iBPMS can be found when companies decide to connect Sales, Marketing and Services to back-off operations to provide a fully integrated Mega-process. By doing this, not only does iBPMS facilitate an excellent customer experience, but it also helps organizations evolve their processes by tracking Key Performance Indicators (KPIs). Through operational KPI dashboards, Executives can easily determine the critical support cases and drill-down into the details. In addition, providing intelligence in the support area in the form of “next best action” also facilitates the customer journey. By moving from manual process transitions to 80-90% automated controls that facilitate straight through processing, organizations can achieve a best-in-class customer experience.
In addition, iBPMS software is also designed to leverage many innovations. These innovations include:
- Artificial Intelligence (AI).
- The Internet of Things (IoT)
- Robotic Process Automation
- Machine Learning
Transforming your Business
Creating a digital strategy is central to winning in the new economy. Those companies that are able to initiate digital disruptions and then achieve operational excellence will overturn and dominate their industries for the next decade and beyond. Business model innovation, improved efficiency and user experience excellence are the new digital currency.
HBSC works with many Future 500 and 1000 clients to create 2020 Digital Strategy road-maps. These guideposts provide a 3-year portfolio of initiatives that help organizations stay relevant as the pace of digital change accelerates. We also help clients take a holistic view of what it takes to execute Digital Transformation including people, methodologies and technologies that will win in the next decade. If you are interested in rapidly digitizing your business into the future, HBSC can help. For more information, please contact us at firstname.lastname@example.org or call us at 1-800-970-7995.