The ubiquity and evolution of technology has brought companies and shared services into a distinct new phase: Digital Transformation.
Technology can do a great deal these days, and software can replicate much of the manual work done by humans, reallocating those resources to higher priority projects. But digital transformation means going beyond ‘more automation’.
Digital transformation means that you look at the technology available to you and re-examine your processes to ensure you are making the most of your people, processes and technology.
Digital transformation doesn’t change the goals of shared services. We still look to improve service, empower growth, and drive efficiency. However, to truly digitally transform your operations, there are some key areas you need to get right.
Download our white paper: Digital Transformation is Now Essential for Shared Services
How has Covid-19 accelerated digital transformation
Very few companies were prepared to suddenly have their workforce working from home as well as cope with the disruption to business and supply chains. While it’s been the trend for shared services for years, it’s now clear that digital transformation is crucial to business continuity and resilience.
All crises drive transformation, and this one is creating huge momentum to digitize. Here are three key areas where we are seeing the most momentum
1. An imperative to get off paper. Those companies reliant on pushing paper around the organization or operating off on-premise systems will understand the imperative more than ever to digitize operations.
2. Cost savings in the face of an economic downturn. Automation and digital transformation can also drive millions in cost savings. As the global economy shows signs of a recession, organizations will be looking to drive savings and reduce costs wherever possible.
3. New priorities to ensure resilience and the ability to shift work. Companies already on their digital transformation journey will also have some new priorities. As we emerge from Covid-19, companies – having stress tested their systems – may be shifting their focus from purely cost-saving to ensuring technology supports resilience.
In addition, being able to work effectively from home has helped keep companies open-for-business and saved lives. Companies also are looking at how they can best shift work to different offices and regions to help maintain business continuity and cost efficiency.
Download our white paper to help guide you through the best practices from hundreds of organizations who have successfully digitally transformed, and offer insights to help you avoid the common pitfalls.
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