In today’s hyper evolving business world, it is a general assumption that being in this digitally savvy era, most businesses are high on their digital quotient. However, it is a fact that paper is still being used in some enterprises as part of their business-as-usual processes. As businesses grow through mergers and acquisitions (M&As), it is a natural consequence that they have to manage higher amounts of complicated data sets, both unstructured and structured. Digitally transforming your business helps you to easily mitigate these burgeoning data-related concerns.
Here, rest assured that Digital Transformation though not easy is neither complicated. Digital Transformation is the right mix of strategic vision and operational execution to achieve a paperless office. In order to materialize your digital business vision into reality, you need to first define the business value and identify the gaps. This is the first stepping stone of your digital journey. However, once you convert your business data into digital, it needs to be managed properly. Enterprise data management needs to be holistic. That is to say, Digital Transformation and Enterprise Data Management are essentially the two sides of the same coin. (BPM) Business Process Management solution providers help you achieve your goal.
The Digital Transformation Journey:
In order to transition vision to value, you need to adopt digital products and services that help you realize your goal and deliver a seamless experience. Towards this end, you need to build the right capabilities, connect different silos and ecosystems for better data management and transcend the traditional work boundaries. Here are some of the technologies in the digital stack, which help in jumpstarting the digital journey:
• Robotic Process Automation (RPA): It helps to automate repetitive, swivel chair operations and port data between systems. It effectively integrates systems at the surface level.
• Intelligent Data Capture or Intelligent Optical Character Recognition (OCR): It ingests data from paper documents, digitizes it, and ports it to the digital ecosystem.
• Workflows: It helps in deeper integration between systems and diverse digital ecosystems. It expedites the approval cycles and exception handling process.
• Artificial Intelligence (AI)/Machine Learning (ML): It helps to identify the different patterns and trends that emerge through the digital journey.
Upon end-to-end automation of the processes under the enterprise buckets of procure-to-pay (P2P), order-to-cash (O2C), record-to-report (R2P), and financial planning & analysis (FPNA), you tend to develop your own bespoke Digital Capability Platform. It not only brings improvement in the value chain but also lowers the total TCO. Read more>
Systematic Enterprise Data Management for the converged entities:
Digital Transformation is not enough. The data, be it structured or unstructured, needs to be easily managed. Towards this end, data curation or data preparation is of prime importance. The next logical step is indexation, which helps with easy storage, retrieval, as well as archival.
Data warehousing and data mining tools enable you to gather quick insights even from high volumes of data. These modules coupled with data visualization help you to view the real-time status of different departments and projects in your enterprise. A modern enterprise data management set up is highly scalable and flexible. It allows you to accommodate and manage high volumes of multi-structured data.
Enterprise Data Management is the cornerstone of a digital enterprise. It imparts a high degree of agility to your day-to-day enterprise functioning. When coupled with AI/ML layers, it enables you to see different patterns and trends that arise from multiple levels of multi-structured data.
Converged entities need to keep their businesses moving and at the same time jumpstart their digital journey. A gradual transition through digital optimization using RPA and AI/ML enables you to board the digital bandwagon. Eventually, these step-by-step digital optimizations help you to transform into a highly accessible paperless office with an agile Enterprise Data Management platform as the backbone. Digital Transformation coupled with Enterprise Data Management not only brings in improvement in the value chain but also lowers the total cost of ownership (TCO) at all levels.