Simply put, digital transformation is the leveraging of technology to improve efficiency and provide more value in your business. Reaching this goal can be much more complicated than the definition given here may suggest, however, it can radically change business processes, activities, customer relationships and even value propositions.
Considered disruptive in nature, digital business transformation has executives in nearly all industries on alert to changes in the industry. They watch in order to get a glimpse into the future to see how they can integrate new technologies to grow revenues, reduce costs, improve customer satisfaction, improve differentiation, and increase their speed-to-market. In essence, forward thinking executives are looking at ways to use technology to refine, and accelerate their businesses.
“The best companies…combine digital activity with strong leadership to turn technology into transformation. This is what we call Digital Maturity. Companies vary in their digital maturity, and those that are more mature outperform those that are not.” MIT Sloan Management Review
Therefore, the goal of a digital transformation platform is to create a more agile business to keep up with the constant flux of technology advancements, environmental changes, and customer demands. The additional benefits are more streamlined business processes, reduced waste, and increased productivity and efficiency.
Well, all aspects of business process management (BPM) – its functions, tasks, processes, and assets are interconnected. A BPM platform pulls all these items together and in that process eliminates redundancies and inefficiencies, increasing profitability and improving the user’s experience. BPM software, such as Process Director, additionally serves management with business process automation solutions offering predictive analytics to allow for immediate intervention and correction, further reducing down time, costs and ineffectiveness. Consider for a moment the main drivers for using a BPM platform and digital transformation:
Technology Advancements: Changes in technology means things are moving faster – production, delivery, demands . A big problem in the past has been in the interconnectivity of legacy programs and new technology. Constant updates to new programs leads to employee frustration, and a loss in productivity due to training and implementation. However, low code BPM with rapid application development allows seamless integration between programs to reduce “learning curve” challenges that come with new product deployments.
Basically, digital business transformation platforms, or BPM, allow for a level of customization never seen before without the high costs, significant time investments and specialized coders.
Environmental Changes: Changes in supply chain, regulations and compliance law, competition, and even the economy can have an impact on businesses and are mostly unforeseen. Agility, through the use of Process Director digital transformation platform, helps accelerate the transformation of workflow processes to allow the business to make adjustments as needed and set themselves apart as market leaders.
Digital business transformation allows changes to be integrated quickly through low code, rapid app development technologies.
Customer Demand: Along with technology advancements comes the changes in demand and expectations of customers. Businesses who are digitally mature have the ability to provide a better customer experience, resulting in increased revenue. Imagine if a customer is able to engage with your company, find exactly what they are looking for, and make a purchase within minutes instead of hours or days. How could this increase your revenue growth?
Process Director makes this possible through predictive analytics, custom forms and mobile apps.
Digital business transformation is upsetting the old way business has been done. Innovation, disruption, agility, and a constantly improving environment is the way business will thrive in years and decades to come. Executives are tasked with change management as a way to unlock revenue streams, reduce waste, and gain competitive advantages by creating outstanding customer experiences.
Process Director BPM software provides business process automation solutions that allows your company to develop more agility and innovation, streamline systems, and create people-oriented processes quickly, easily and at less cost than in the past. The ability to move faster in response to demands, forecast challenges, and adhere to compliance and regulations leads to better decision making, healthier management, and an improved customer/supplier/staff experience.
Process Director from BP Logix is a versatile digital business transformation platform designed to support forward thinking businesses looking to improve efficiency, manage workflows and compliance, and create a valuable experience for all those engaged with them. For a demonstration of Process Director and to see how automating processes with BPM software can help you with your digital transformation strategy, contact us today.
