Today’s rapidly changing business landscape is largely dictated by innovation and digital disruption. Change is happening quickly and it’s forcing businesses to evolve. In order to survive in this new environment, businesses must be agile and focus on responding to the increasingly high expectations of its customers.
In a recent study, 68% of companies identified agility as one of their most important initiatives. But how do you define corporate agility in today’s market? More importantly, how does it drive business growth in today’s volatile, ever changing market?
Leave legacy behind & reinvent business processes
New technology is just one part of a digital transformation, as breaking down company silos are equally important. As you build your strategy, companies also need to consider how new technology impacts customer experience goals. And, agility needs to be a core component in making the journey successful.
Today, corporate agility, is a balancing act of how companies can remain stable as they move quickly to address digital disruptions. The most successful companies prioritize the processes that focus on their customer journeys. They do not attach themselves to legacy operations simply because it’s the status quo. Instead, they embrace change as a means for growth. Organizations must instill a culture of continuous and rapid innovation that considers the integration of digital technology into every aspect of business execution.
The initial challenge is moving past conventional thinking and legacy process by:
- Examining fragmented business processes that cross organizational boundaries to understand the impact to customer experience
- Assessing where handoffs from one organization to another might not be working and perhaps also creating problems for their customers
- Identifying complex processes that impede customer resolutions
- Determining where there is a lack of insight or an inconsistent view of customer status that leads to wrong business actions
From there, prioritize redesigning and reinventing these customer interactions to deliver exceptional customer experiences at every touchpoint.
Thoughtfully apply technology to improve customer experience at every touchpoint
Businesses must embrace the potential for agile transformation with the continuous assessment and investment in technology, including:
- Identifying where data and analytics can provide real-time, data-driven insights for improved decision-making and effective workflow execution
- Establishing a 360-degree view of customers that can help business teams discover, predict and prescribe opportunities that optimize customer outcomes
- Examine how advances in robotics, machine learning and AI can enhance productivity, increase accuracy, efficiency and improve overall outcomes
- Consider how the application of integrated, and responsive technology automation increase legacy technology capabilities
Build seamless end-to-end business processes for your customer
To be successful in today’s disruptive market, organizations must take a holistic approach in rebuilding business process. Business stakeholders must coordinate and align the execution of their digital strategy across operations to transform the end-to-end value chain (i.e. Quote to Cash, Source to Pay and Record to Report).
Corporate agility must be engrained in company culture. and management of transformational change in response to evolving customer and market requirements.
Digital business requires: operational processes aligned to digital business goals, leveraging new and existing technology in effective ways.
Digital business transformation requires: cultivating an agile environment that quickly responds to change through an iterative, ongoing process, that is sensitized to the evolving needs and expectations of customers.
Up Next? Read our whitepaper on Driving Digital Disruption with Customer-Focused Operations.