Published on November 16, 2023, 4:08 pm
Digital transformation is a crucial journey for businesses to embark on, according to Forrester. The concept involves transitioning to a digital-first business model with the ability to adapt quickly, leverage technology for efficiency and differentiation, and allocate resources effectively across the organization.
Forrester’s senior analyst, Zhi Ying Barry, emphasizes that while APAC firms recognize the importance of digital transformation, many struggle to articulate and measure its impact on their organizations. Digital teams often fail to connect initiatives to agility, innovation, operational efficiency, and customer experience – the top drivers of digital transformation in APAC.
To gain insight into the struggles faced by organizations in APAC during their transformation journeys, FutureCIO sought input from Leslie Joseph, a principal analyst at Forrester. Joseph points out that even after a decade since “digital transformation” entered our vocabulary, a significant number of companies are still at beginner or intermediate stages of digital maturity.
Joseph identifies three common challenges faced by companies lagging behind in their transformation efforts: lack of organizational alignment or commitment towards widespread transformation, failure to prioritize customer obsession throughout strategy and operations, and rigidity in enterprise processes impeding innovation.
To succeed in digital transformation and become future-fit in a post-pandemic world, Joseph suggests that companies focus on evolving their business processes. This includes adopting adaptive, creative, and resilient processes that align with future fitness – a new driver of growth identified by Forrester’s research.
However, many companies struggle with outdated or non-standard processes due to years of standardization. To overcome these challenges and drive process improvements continuously, Joseph recommends leveraging process intelligence tools. These tools help optimize existing processes for greater efficiency and enable process reengineering infused with technologies like automation and AI.
Various tools are available for driving business process improvements. Traditional BPM tools coexist with modern process mining, modeling, documentation tools that offer comprehensive feature sets for analyzing, modeling,
optimizing,reengineering,and automating processes.
As corporate sustainability becomes increasingly important, it is crucial for business processes to facilitate the seamless flow from data to insight to action. By integrating sustainability metrics into processes, managers and business leaders can better understand how to improve their processes and drive sustainability-focused outcomes. Technology plays a vital role in enabling process visibility and enrichment.
Forrester’s report, “The Future of Business is Sustainability,” highlights the necessity of a profound and fundamental change for traditional firms aiming to pursue sustainability. To embark on a multi-year transformation journey towards sustainability, Forrester emphasizes three key principles: bold leadership, sustainable execution deep within the organization, and alignment of internal and external stakeholders.
Achieving sustainable transformation requires careful consideration of variables. Recognizing this, FutureCIO provides further insights on the topic in an article entitled “Variables to Consider in Achieving Sustainable Transformation.”
In conclusion, digital transformation is a critical undertaking that businesses must navigate strategically. By addressing challenges and evolving their business processes, organizations can position themselves as digitally mature and future-fit while embracing sustainability as an integral part of their operations.