What is Digital Transformation?
By now, everyone’s heard of Digital Transformation. Digital Transformation is the process of using technology to radically change your business to pursue new revenue streams & business models and to avoid disruption. But, what exactly does that mean?
Digital Transformation is not a single IT project. It’s the combination of numerous projects that infuse “digital” into everything within your organization – from evolving the underlying technology to servicing your constituents increasingly on mobile to digitizing your processes to create efficiencies to integrating with third parties to create better customer experiences.
Ultimately, though, DBT is about organizational change to improve performance through the use of digital technologies.
Start with your Workflow
Technology itself makes a difference and creates innovation but at the end of the day it’s the people and the business processes in an organization that can truly drive change, disruption and transformation.
Automating your day-to-day workflows is at the very foundation of digital transformation. If your organization does not already have a workflow automation platform, I strongly suggest looking into one now. Using a platform, you can digitize forms for employees and customers and automate your routine processes. Once they’re automated, you can measure the effectiveness of those processes and optimize choke points to drive genuine change. You can collect and analyze your proprietary data in myriad ways to improve business performance.
Without workflow automation you’re still dealing with manual processes. You’ll probably need to worry about being disrupted and becoming irrelevant.
5 ways Workflow Automation can change your business
1. Increased Efficiency
What might the transformed, modern business application look like? It will undoubtedly:
- Automate forms and workflows so there’s no need to print, sign and scan.
- Integrate with data and systems to reduce tedious manual data entry.
- Intelligently route documents to the right person at the right time to ensure that business constraints are satisfied.
- Automatically support all mobile devices and speed up the approval process by providing 24×7 access from anywhere.
2. World Class Customer Service
Over-delivering on customer service is the single most important thing you can do to increase revenue. Otherwise, today’s consumers will quickly move on to the competition.
Today, customers are used to interacting with your organization online at any time. If they need some information from your company and it’s only available during business hours, they’ll be frustrated and feel inconvenienced. Automation ensures that your customers have a smooth experience by enabling them to access information when they need it.
When employees are wasting time chasing down internal approvals, they have less time to focus on customer service. Automated approvals free up their time so it can be invested into what’s important: customers, students and patients.
3. Enable Mobility
75% of U.S. information workers rely on mobile. In response, businesses are prioritizing mobility with 88% of them saying that mobile functionality is either very important or an outright requirement.
But, one-off mobile apps are hard and barriers abound. Time, budget and skills are all in short supply. In addition, mobility nowadays is about reaching users through all channels, especially mobile web browsers, as users often don’t bother to install a native app.
Workflow automation systems offer visual and low-code approaches that let you provide business functionality in web-apps and spread that development out among more people – the “citizen” developers in your organization. That in turn eases pressure on I.T. teams, freeing them up to meet business needs.
4. Business Agility
Automation taking advantage of cloud (+ mobile) is a critical driver of business agility – roughly speaking, the ability of your business to react rapidly to changing business conditions. Think of two main aspects:
- Responsiveness – Enable employees to do the right thing at the right time. That means reducing business complexity (stop wasting time on paperwork, errors, missing signatures etc.), employee efficiency (let them work anytime, anywhere and using any device) and collaboration (access to people and information from anywhere as needed).
- New Opportunities – Faster rollout of new business initiatives as business conditions change e.g. introduce a new product offering or modify internal processes to quickly satisfy changed customer demands even something as simple as letting people buy on their mobile phone.
Both are sources of significant competitive advantage. According to Harvard Business Review’s recent survey on Business Agility in the Cloud, companies are already seeing business value and benefits from simplification, collaboration, and faster reactions to new opportunities.
This business agility appears to lead to some very tangible and measurable outcomes: 49% are more likely to have entered a new market in the past three years i.e. rolled out business initiatives quickly to take advantage of a new business opportunity. Significant majorities believe cloud (+ mobile) reduces business complexity (71%), increases employee productivity (69%) and responsiveness to customers (53%).
5. Astounding ROI
- Performed by an Employee – a Travel Authorization or Purchase Requisition. Let’s say this employee costs $80,000/year including benefits, vacation, taxes and other costs (equivalent to a salary of about $60,000).
- Performed by a Manager who essentially checks the request, approves it if it is valid or sends it back for corrections. Let’s say the manager costs $100,000/year inclusive of all costs.
- Performed by an HR or Finance person who essentially updates an internal system and does the equivalent of filing the request. Say, this is a part-time person costing $60,000/year.
Now, assume that the time savings are 10 min, 3 min and 3 min respectively in each step. That’s pretty conservative given there’s no printing, signing, scanning etc. involved. Finally, assume that there are 400 approvals per month of all kinds (Vacation requests, Sales Orders, Timesheets, Travel Authorizations etc.)
How much do you think you will save in costs? You might be shocked:
You’ll save ~$50,000 every single year or 57% of your costs and see net positive ROI in just a bit over 2 months.
That paper/email process actually costs you close to $85K per year. And that doesn’t even take into account the time spent trying to track down emails, chasing down managers for signatures or, perhaps of greater importance, the Opportunity Cost of delayed approvals.
Analytics and Artificial intelligence (AI) will play a major role in the future of business transformation powered by digital technologies. But deploying these technologies relies on access to your proprietary data making it your most valuable asset. Workflow automation is the foundation. Think about it!
Paper- and email-based processes deny you access to your single most valuable asset – your business data.
Eventually, AI engines powered by data analysis will end up automating the optimization of your workflows. But, your processes need to be ready.
If you want digital transformation, start with workflow.
Interested in finding out more? Visit our website to and see how customers are already using frevvo’s public and private cloud solutions to transform everyday business processes.