As the pandemic continues to challenge business and society worldwide, the natural tendency of organizations is to retreat toward familiar business models and put innovations programs on hold. It is an understandable and justifiable reaction in times of uncertainty. But, for companies that want to be prepared to thrive when we are on the other side of this crisis, it is a time for continued investments in digital transformation.
In contrast to recent disruptions that we’ve experienced, such as 9/11 and the 2008 financial crisis, the global nature of the pandemic is putting significantly more strain and attention on the impact to supply chains. This will accelerate the shift in transformation programs from an emphasis on front-office activities to back-office digital operations.
Across industries, the majority of digital transformation programs in the last decade sought to address the customer experience (CX) paradigm shift as technologies put more information and control in the hands of end-users. Despite the fact that shifts in operational excellence (OX) would drive more value to the enterprise, the focus has been on addressing CX issues.
Forward-thinking leaders will examine their digital operations today to explore how they can be leveraged to enable their enterprise to be more competitive and resilient. The critical first step in achieving greater operational excellence is understanding the current state of your activities. Without situational awareness of how your company really operates, it is nearly impossible to undertake a successful transformation program.
Gaining process intelligence enables the systematic collection of data to analyze the individual steps within a business process or operational workflow. It helps an organization to identify bottlenecks and improve operational efficiency. FortressIQ’s cognitive process intelligence platform automates the discovery and analysis of workflows using computer vision, natural language processing, and machine learning. By automating previously manual activities, we capture more activity data and deliver a more comprehensive picture of operations at less cost and faster than previously possible.
Here are three areas where you can start leveraging process intelligence to accelerate your digital operations transformation and prepare your company for continued growth:
- Scale Your RPA Program – While companies have committed to RPA technology, a majority are failing to scale their programs beyond a handful of bots. It turns out the challenge is not programming the automation—it’s prioritizing and planning the automation. Process intelligence is ideally suited to quickly and cost-effectively address this scaling issue and help transition companies from problem solving to strategic transformation.
- Conduct True End-to-End Process Assessment – Enterprise application sprawl is significant and expanding with Netskope reporting the average large company today uses more than 1,000 SaaS applications. With this level of complexity, it is challenging to achieve full end-to-end process understanding of core functions. Today’s environment makes it critical for organizations to accurately understand their entire supply chain—from the procurement of raw materials through acquisition by the actual customer.
- Gain Unprecedented Operational Insight – Every company is striving to be more data focused and implement more data-driven decision making capacity across the enterprise. FortressIQ’s cognitive process intelligence solution delivers the capacity to ultimately map the enterprise, providing the depth and breadth of data not previously available to assess current operations and anticipate future requirements to meet corporate objectives.
While it seems easier to play defense in uncertain times—from FedEx and General Electric to Facebook and Salesforce—many massive enterprises have successfully launched in challenging financial times. Companies that continue to innovate and transform will emerge from the current crisis in a stronger and more competitive position than their industry peers.
If you’re interested in how FortressIQ is providing immediate benefits to organizations as they navigate remote work and new and changing business processes, please click here to learn more.