Times change. And that's one of the biggest reasons there's now a resurgence in business process management. Globally, firms are reaching a point where they don't feel they can eke out any more efficiencies from their current processes. At the same time, they understand that new entrants are coming into the marketplace with dramatically different business models. In the insurance industry, for example, companies such as Progressive have developed an online Internet service that has had an obvious impact on older insurance companies and their business model. Examples like that exist throughout this industry, and just about every industry throughout the world. New competitors come online and throw a "spanner in the works" to existing business models. Times change, and organizations have to change with them.
As Information Professionals, we’re facing a perfect storm of sorts - as information chaos continues to grow, so does the value of this information. Information is now cascading down on every organization in unprecedented volumes and forms, challenging traditional and manual concepts of records management and information stewardship.
Making an ECM implementation successful requires planning and attention to detail. The best way to create the right solution is to identify organizational goals and priorities. Learn how to manage a successful implementation in our free guide.
Today, in the enterprise, nothing is ever at rest; everything is fast and getting faster. From critical business processes, ECM and capture, to human resource management, marketing, or email—everything seems to be running at a breakneck pace. Work is always working, even if we aren’t. Business agility is the coin of the realm.
Is "information chaos" in your core business process processes slowing your organization down? Making you less competitive? Frustrating your employees, suppliers, and customers?
This is the first of three posts reflecting thoughts on the role of Financial Process Automation in Digital Transformation. Yes, you read that right, and I realize it could be argued that this is one of the great oxymorons ever, combing "Financial Process Automation" and "Digital Transformation" in the same sentence. But stick with me. Every business operates on a pretty thin line between success and failure, and technology disruption is making this line sharper every day.
Process improvement and workflow are not new; in fact, they have been around since the late 1980s. Yes, they have evolved and continue to do so, but as was true of ECM, Business Process Management -- once seen as a nice to have -- is now considered a critical part of business operations.