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Highlights
- Organizations must resist the idea of siloed digital transformation and build a strategic roadmap to adopt new business models, out-innovate peers, and grow at speed.
- Building an intelligent and resilient enterprise requires reimagining the digital core by embedding design thinking, identifying potential value and industry benchmarks to calibrate performance.
- Enterprises prioritizing holistic transformation by adopting agile, human-centricity, and intelligent processes will have a vantage point view of digital success.
In this article
Embrace digital success
Digital transformation continues to be the front and center of business success stories.
Companies across industries are exploring opportunities to ride the wave and reap business gains. However, not all stories have a happy ending.
The problem lies in integrating digital technology into all areas of businesses to deliver better customer value. Many enterprises struggle to navigate this shift because their critical business processes reside across siloed cloud and on-premises applications. Technology modernization frees employees from managing business operations and channelizes their time to innovate and create greater value for their business. Investing in digital transformation to become an intelligent, automated, agile, and cloud-first organization is the new recipe for success.
UNLOCK BUSINESS VALUE
Time is ripe for enterprises to shift from pockets of innovation to holistic digital transformation.
To realign ecosystems, adopt new business models and drive innovation at speed, enterprises must focus on business value instead of building siloed digital capabilities. These five tenets help you achieve sustainable digital transformation:
Design agile business strategies: Beginning with a design thinking approach provides a holistic view of problems and helps visualize an agile business transformation to support business goals and the foresight to mitigate anomalies early.
Measure business performance: Enterprises must leverage strategic insights to identify and quantify critical needs and create value opportunities articulated through robust business cases that can be continuously measured, tracked, and reported.
Digitally empower the human experience: Organizational change management (OCM) helps employees adapt, embrace, and benefit from new digital capabilities by making them collaborative stakeholders.
Build the digital core: Pre-configured industry and business solutions can build a digital core with minimal disruptions to business as usual. Accelerate digital transformation efforts up to 25% to seize new growth opportunities.
Create a future-ready business: Bring into play next-gen technologies like conversational UX, cognitive and robotic process automation, IoT, and advanced analytics to redefine business processes.
Embedding best practices
Accelerating business-first transformation for a global manufacturer.
The client rapidly expanded its market share through a series of merger and acquisition activities. This led to a disparate set of processes across 11 legacy systems, causing inconsistent customer experience, inefficient financial reporting, and suboptimal plant maintenance. To tackle these challenges, the company launched an ambitious transformation plan.
The manufacturer began a series of design thinking sessions and identified key industry compliance and traceability requirements. Next, they reviewed the value opportunities that helped develop the business case, followed by ERP vendor selection and building a transformation management office.
The end-to-end solution leveraged a change management approach across 28 locations in four countries, in three languages, and was built in 27 months.
OUTCOMES
These efforts led to a perpetual business transformation model which added significant value to the customer experience, increased sales margins, and:
Generated USD 20+ million year-on-year operational savings
Reduced USD 18.5+ million one-time inventory costs
Optimized finance and technology costs by 43%
Saved USD 7+ million annually by enhancing productivity
Increased sales margins by 6% to 8%
Optimized direct and indirect spend by 12 to 15%
C-suite cornerstone
A successful digital transformation delivers value to all functions and stakeholders across the company.
A successful digital transformation delivers value to all functions and stakeholders across the company. To enable this, the C-suite need to get everyone in the enterprise aligned. Here’s a quick summary of the objectives of the business leaders across the functions.
Figure 1 - The objectives of the C-suite during a digital transformation.
Each business function has specific roles and needs. While they might be operating in silos, they are interconnected to support end-to-end customer experience and focus on proactive business models. When embarking on a digital transformation, enterprises need to understand the business needs across functional organizations such as finance, supply chain, HR, and marketing, as well as within the specific nuances of the industry. Then, these should be prioritized by the value they bring to the end-state.
To accomplish transformation in its true sense, an organization will face disruption, and the leaders must reinforce the shift and re-address priorities. Following the journey with the business in mind will help accelerate the journey and encourage adoption along the way. It will also free employees and business leaders to focus on continual innovation and growth. Through engagement with stakeholders and across all teams, sustainable change will be enabled to deliver the anticipated outcomes.
TCS Enterprise NavigatorTM provides a business-led framework that maps business strategy, human experience, and industry alignment on a proven course toward quick wins and long-term successes. A technology-driven excellence with a constant focus on business value helps enterprises innovate to achieve purpose, adaptability, and resilience.
Investing in digital transformation to become an intelligent, automated, agile and cloud-first organization is the new recipe for success.
