Technological advances are fuelling a digital transformation in both the way consumers and organisations view the world.
This digital transformation is creating opportunities for organisations to review and optimise their business processes and system infrastructures.
Last week saw London host the Gartner Business Transformation & Process Management Summit. The event was focussed on managing and implementing the major transformations that the shifts to digital business are creating.
According to Gartner analysts, there will be 10x more investment in process management than the Y2K prediction due to the digital transformation initiatives and the central role of business operations in activating new capabilities provided by IoT, smart devices, and advanced machine learning.
The summit set out the need for BPM within businesses being affected by digital transformation and tackled the assertion that 70% of transformation initiatives fail. Particularly how a failure to implement BPM maturity is holding businesses back and the role BPM practitioners can have in contributing to the success of an organisation.
“Through 2017, insufficient BPM maturity will prevent 80% of the organisations from reaching the desired business outcomes from their digital business strategy” – Gartner
Digital Transformation and Business Performance
In the financial services industry, digital disruption is fuelling innovation and new processes and ways of working to meet customer needs and improve business performance.
These innovations and ways of working need to be effectively managed to ensure that the organisation has the right system infrastructure in place.
Implementing BPM enables a framework for analysing processes to identify critical areas to invest in strategically with the aim of driving efficiency, reducing costs and increasing business capabilities.
BPM support is a core VIP Apps Consulting service offering and the work we do with our clients in the finance and leasing industries.
These industries are undergoing large scale changes to their systems due to technological advances and consumer preferences.
Our role continues to be guiding them through this digital transformation using our AMOBI framework for assessing, analysing and implementing business process changes.
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