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March 30, 2023 - by Synoptek
In today’s fast-paced business landscape, C-suite executives know that staying ahead of the competition requires constant innovation and transformation. With technological advancements and shifting consumer demands, adapting to emerging trends and evolving the business is critical to achieving long-term growth and viability. However, despite the buzz around digital transformation, executives are often uncertain about how to approach the process.
And there are several statistics that support this argument. A staggering 73% of companies fail when implementing a digital transformation strategy. As a result, executives are left grappling with the challenge of reimagining enterprise processes and operations in a way that is effective and sustainable. This raises the question: what are the reasons behind these high failure rates, and what are winning organizations doing to beat the odds?
In a survey conducted by Forrester, more than 1300 decision-makers said they all face several challenges in digital transformation. From an unclear strategy to insufficient resources, resistance to change, and difficulties in integrating new technology, amongst others. To adopt technology successfully, businesses should conduct a business process review first, which helps them evaluate and optimize their current processes. But in the rush to uncover transformation results, many disregard the benefits of a thorough and detailed business process review. Skipping a business process review can derail your technology adoption plan in many ways:
A. If a company adopts technology without reviewing its business processes, it may end up implementing a solution that does not align with its overall goals and objectives. Without a proper plan, there is a risk that the technology may not be fully utilized or may even be abandoned altogether. Not identifying areas where technology implementation can deliver the best benefits can also make it impossible for organizations to streamline processes, reduce costs, and increase productivity.
B. Without a proper review of existing processes, it can be difficult to identify the training needs of employees. Failure to provide adequate user training for the new technology might restrict employees from fully understanding how to use it, leading to frustration and diminished productivity.
C. When new technology is implemented, employees may resist changes in their work processes, especially if they do not see the potential value of these new systems. Without a business process review, it might be difficult to identify areas where change is necessary and communicate the benefits of the new technology to employees.
D. When adopting new technology, it is essential to ensure that it integrates seamlessly with existing systems. Not identifying potential integration issues before the technology is implemented can lead to the risk of poor productivity, data loss, and a host of other problems.
Synoptek recently conducted a mid-market benchmarking study in association with global research firm Everest. It revealed numerous insights into how different industries implement technology and how they realize the benefits of their digital transformation initiatives. The top performing organizations all had an adequate roadmap in place before they executed their technology strategy. This helped them gain a 1.7X higher business outcome than the other organizations.
Here’s how a business process review helps you overcome all the above-stated challenges:
A business process review can help companies identify their technology needs, assess various options, and develop a comprehensive plan for adoption. This planning process can help companies avoid common pitfalls, such as selecting the wrong technology or underestimating the costs and resources required for adoption.
By identifying areas of inefficiency in existing workflows, a business process review can help companies design effective training programs for employees. This training can improve user adoption. It can also ensure that employees use the technology correctly, reducing the risk of errors and inefficiencies.
A business process review can help companies identify potential areas of resistance and develop a plan to address them. By involving key stakeholders in the planning process and communicating the benefits of the technology, companies can reduce resistance to change and increase user adoption.
System integration is a critical aspect of technology adoption, as it can impact the quality of data and the reliability of the technology. A business process review can help companies identify potential integration challenges and develop a plan for data migration and system integration. This process can help companies ensure that the technology is integrated effectively and that data is accurate and reliable.
Finally, a business process review can help companies ensure that the technology is aligned with their overall business goals. By identifying areas for improvement and potential ROI, companies can make more informed decisions about technology adoption and ensure that the technology aligns with their overall business strategy.
Starting your digital transformation journey without a well-defined plan or the right supporting processes can put your technology adoption plan in jeopardy. Although reviewing your business processes may cause some delays in your technology implementation, planning workarounds later in the journey could result in a much longer project timeline and significantly higher costs.
Synoptek can assist you in evaluating your current technology infrastructure, identifying gaps, and proposing a technology plan that perfectly complements your overall business processes. Contact us if you wish to truly envision the future of your company in a technology-driven world and explore the enormous realm of possibilities.
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