The power of reinventing your workflows
In November 2019, IBM commissioned Forrester Consulting to investigate the modernization of business processes and workflows by conducting an online survey of 450 global decision makers. Forrester found that firms understand the need to modernize their processes, but they struggle to overcome legacy tools and legacy mindsets.
The study yielded the following key findings:
- Flexibility, automation, and data are key to process modernization. Process professionals must consider three related attributes when reinventing workflows: flexibility (i.e., the ability to address process variability), automation, and the amount – and range – of data leveraged for insight.
- Misaligned investment in tech and services cause trouble for firms. The time for spreadsheets is over. Yet, enterprises continue to rely on the legacy tools that worked years ago while failing to capitalize on solutions like process mining and predictive analytics that could solve today’s challenges. Similarly, though they face issues that could be helped with the addition of professional services, they under-invest in the partners who can help them navigate these important elements of transformation.
- Companies who partner see exponential benefits. Modernizing processes is no easy task but the returns around CX, agility, growth, productivity, and cost reduction are clear. Furthermore, firms who partner to re-engineer processes experience far greater benefits than those who don’t.
Ultimately, process modernization that improves business outcomes requires partnering for guidance based on deep experience coupled with innovative design methods. Enterprises that leverage services to re-engineer processes set the pace of transformation and see the business results.
The luxury of doing business alone is quickly disappearing. Organizations are driving toward digital transformation, while many are under threat from more automated, agile, and responsive disrupters. The stakes are high, and the chances for failure are even higher. But there are success patterns emerging where smart organizations have recognized the value of architecting workflows which function across business silos.