The emergence of digital technologies and platforms has added flavor to – and had a significant impact on – service industries. Just five years ago smartphones, tablets, and cloud-based ecosystems didn’t exist or were on the fringe of broad acceptance. But now, business losses and customer demands around access to the services delivered through digital channels are leaving enterprises with little choice but to adapt digital platforms.
How BPM can drive your Digital Transformation
Adoption of BPM was initially driven by the need to automate processes and enhance control over business operations. However, over the years BPM has evolved to address the needs of modern businesses. Enterprises today need to focus on achieving ‘business process agility’ to respond to the ever-changing market dynamics. An efficient BPM platform enables businesses to build processes that are repeatable and at the time flexible.
Enhancing customer experience is the top priority of every business. Every touch point with the customer is an opportunity for a business. To retain existing customers, and acquire new customers, enterprises need to ensure that consistent, personalized, and contextual messages are delivered to customers across multiple channels. During 2014, mobile has become one of the most important channels.
Competitive pressures, coupled with the customers “give-me-more-for-less” expectations, have created the right impetus for companies to reorient their core strategies toward a broader series of channels, mostly digital. Many institutions have started working toward enhancing market share in these new digital channels with a view to gaining a competitive edge.
DIGITAL TRANSFORMATION FRAMEWORK
While the business opportunities of digitalization are obvious, there are a number of challenges for enterprises to overcome – and pitfalls to avoid – on their transformation journey. The three areas mentioned below are the building blocks of digital transformation. The challenge is deciding how fast to traverse the digital journey. The answer lies in the adopting differentiated digital transformation framework that can help address that challenge.