What is the connection?
Over the past five years we have seen a rapid transformation in the way we are doing business and receiving services. A digital transformation is underway and shows no sign of slowing.
Virtually every day we hear of advancements in the digitization of our way of life.
In order to keep up with this rapid rate of change, and the increased customer demands on business, it is vital that organizations have a high level of agility in their operations. They need to be able to change track to take advantage of new opportunities quickly. If they are not able to do this, then you can guarantee that there is another business waiting in the wings who will be able to and will offer your customers the advantages that you have been unable to deliver.
Digital transformation has had a huge impact on customer loyalty, rather than blindly staying on the same ship, they will jump to the next one very quickly if the services they are offering are more appealing, exciting, new and more cost effective.
Keeping up with, or ahead of, the Joneses
The saying “if you snooze, you lose” has never been truer than it is today. If you take your eye off the ball at any time, someone else will grab it and plant it firmly between the goal posts. Your processes must be able to be changed quickly to allow your business to rapidly take a new direction in response to changing market dynamics. Having a mature Business Process Management (BPM) capability is critical if this is going to be successful.
Growing pressure to change
Increased customer expectations, along with constant regulatory changes in many industries put businesses under unprecedented performance pressure. Along with this pressure come exciting opportunities for those organizations who are able to react quickly and seize advantages out of what can appear to be chaos.
Creating a balance between rapid IT innovation and business objectives provides a real opportunity to grow and to gain a real competitive advantage. BPM is the pathway to harnessing these opportunities, allowing organizations to leverage advanced technology, tying that in with their existing organization assets and creating smarter processes.
Doing this will increase operational efficiencies, improve customer services and provide superior business agility.
BPM provides the connection
A well-developed Business Process Management capability allows for rapid automation and optimization of business processes, but even more important is the increased agility that this capability brings to the organization. This is essential if a business is going to be efficient enough to be able to respond to changing market dynamics. Business processes must be repeatable and efficient but, at the same time, be flexible and ready to be changed quickly when the market moves.
BPM is the glue that brings technology and the business together, providing the knowledge and capability to harness new technologies and make decisions on which digital advancements they should be investing in. BPM allows the IT organization to become an enabler and innovator within the business.
Mature BPM will allow you to demonstrate the alignment between technology and customer/business outcomes. It can demonstrate the connection between new technological capabilities and the bottom line for the business – the end-to-end value of the process.
Without Business Process Management, today’s businesses are unlikely to be able to keep up with the play as digital transformation grows and changes the business landscape forever. Agility, the ability to change direction quickly with minimal disruption, is the only way that businesses will be able to compete in this new world.