The world pandemic compelled plans put aside for investing in digital transformation initiatives to shift in direction of sustaining enterprise continuity, organising a distant workforce, and guaranteeing clients’ quick wants had been met.
Now that the mud has settled, CIOs are reevaluating their IT goals and discerning which initiatives to choose again up, axe or provoke after studying the place they skilled main pitfalls in the course of the early months of the pandemic. Prioritizing the fitting automation initiatives is essential to make sure your group rebounds and prospers in 2021.
Industry data for this version of eWEEK Data Points comes from Anthony Macciola, Chief Innovation Officer at ABBYY, a digital intelligence firm. Macciola holds greater than 45 patents for applied sciences in mobility, textual content analytics, picture processing and course of automation, and is main AI initiatives at ABBYY.
Here are his finest practices about choosing the proper initiatives worthy of funding.
Data Point 1: Prioritizing Projects
There as soon as was a time when price discount was the first driver for digital transformation. However, a Forrester Research survey discovered that price discount is now behind investing in expertise that may “accelerate digital business transformation, improve customer experiences and improve worker productivity.” The pandemic has really led to many organizations discovering they’ve been doing issues unsuitable all alongside. The Forrester’s “Global Digital Process Automation Survey” confirmed two-thirds of companies acknowledged they encountered damaged processes after they shifted their workforce to distant resulting from COVID-19, and now 60% are reconsidering their course of technique.
Using course of mining and discovery (PDM) instruments is a rising pattern for prioritizing initiatives. Analyst agency NelsonHall estimates the present world PDM market measurement is at $566.5 million and is projected to extend to $5.four billion by 2024. Process mining empowers you to make use of the knowledge contained inside your programs to create a visible mannequin of processes, analyze them to determine alternatives for course of enchancment, in addition to real-time operational monitoring and the flexibility to foretell and take pre-emptive motion of future outcomes to facilitate decision-making.
Data Point 2: Taking a data-driven strategy
To prioritize initiatives–whether or not it’s buyer onboarding, accounts payable/bill processing, contracts evaluate, claims processing or name middle inquiries–it takes a data-driven strategy. Otherwise, you danger succumbing to stakeholders’ opinions, bias, inner politics or low-hanging fruit that doesn’t return important worth.
To determine which processes can be the very best match for automation alternatives, and the way the workers interacts with them, it’s essential to have a hen’s-eye view of your complete operations throughout the entire group to make sure full visibility.
For instance, should you’re main an insurance coverage group and see an abnormally decrease consumer retention fee over the previous six months, you’d wish to know precisely the place it’s…
