The year businesses locked down and digitalised up
A McKinsey & Company study* of 900 C-Suite executives found that digital adoption across business operations jumped ahead 3-4 years in just a few months in 2020. Businesses turned 1-3 year technology roadmaps around in a matter of weeks to facilitate widescale remote working virtually overnight.
Couple this with the seismic shift of consumer behaviour towards digital interactions that the pandemic has driven, and businesses had to adapt their operating models at lightning speed. The McKinsey study found that greater investment was made in technology during lockdown than in any other business continuity measure.
Now, as we adjust to another national lockdown, one of the few positives we can take from the effects of the pandemic is a shift in the mindset of business leaders. Technology has been given a renewed strategic priority. The C-Suite are in no doubt about the vital role technology plays in business continuity and in delivering competitive advantages that will aid recovery.
Rapid digital transformation drives an urgency for automation
It has been awe-inspiring to witness the speed with which businesses have rapidly transformed their operations in the last year. However, we can’t ignore the longer-term challenges this feverish period of digital transformation will create.
With rapid digital transformation comes a number of risk factors:
Platform and data sprawl
The ease with which cloud platforms can be implemented with just a few clicks means businesses are now awash with platforms, some of which will be duplicated across departments. The resulting data sprawl poses a significant risk.
Siloed systems and siloed innovation
With departments rushing to implement their own solutions, opportunities to collaborate, integrate and innovate across the business are missed, reducing the cost-effectiveness of investment and leading to inconsistencies across departments.
Security and governance challenges
The usual IT software request processes have been bi-passed in order to facilitate change at speed, so IT no longer have control of the entire IT estate and there may be vulnerabilities they have no sight of.
A lack of process evolution
Cloud solutions may have been implemented quickly, but the processes for managing and defining their usage may not have been put in place, adding further security and data management risk and a lack of consistency.
When implementing digital transformation at speed and without a long-term strategic roadmap, the vast benefits may not be fully realised. It’s an oft-quoted statistic that 70% of digital transformation fail – a shocking figure given the incredibly high stakes. And the reason for this failure is usually attributed to a lack of an overarching strategy that defines technology’s role in the strategic direction of the business.
In these unprecedented times, businesses have not had the time to meticulously plan how IT investments now will fit within their long-term technology strategy. This means they’re likely to be facing a new challenge ahead: How to govern and optimise their digital transformations.
They now need to act fast to address this or risk falling behind the competition.
Step forward intelligent automation
Process automation has been the hottest topic for businesses for some time, and early adopters have been reaping the benefits through the pandemic as they were better able to adapt at speed. Those that have been debating the benefits but not investing now need to take that leap as automation becomes imperative to ensuring the success of their digital investments.
With ever-increasing pressure on IT personnel, the ever-growing complexity in modern IT environments and the challenges of a distributed workforce, automation offers significant benefits to drive businesses forward.
Do more with less for long-term success
Now more than ever, there is a significant business case for investing in intelligent automation to improve speed, consistency and security across businesses. A recent study by Vanson Bourne, cited here on Computer Weekly**, shows that “93% of CIOs think AI-assistance will be critical to IT’s ability to cope with increasing workloads and deliver maximum value to the business”.
The key to addressing the challenges that businesses now face is to carefully assess the processes that are either holding the business back or offer the greatest opportunity to help achieve its long-term strategic goals. BUt don’t automate just because you can. If it won’t add value, either in cost savings, productivity efficiency or customer experience, then it shouldn’t be a priority. Remember these wise words…
“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”
Stop debating and start automating
2020 has forced automation to rise to the top of strategic discussions. Just a year earlier, IT and business leaders may have been debating the benefits of intelligent automation but with little commitment. Now, automation is being prioritised and business leaders recognise that they need to automate to emerge stronger in the new future of work.
With the right automation strategy, businesses can scale more quickly and cost-effectively and be more responsive to changing business and economic demands.
To recover quickly, we need to put technology to work.
Our intelligent automation services deliver business-changing process efficiencies and increase the speed with which organisations can react to change. Get in touch to find out how we can transform productivity and agility for your business.