What is business process modernization?
Business process modernization remakes processes to be agile, resilient and human-centric so it’s easier to deliver a customer experience that is elegant, simple and fresh.
With a flexible operational backbone at its core, process modernization is fueled by data and technologies like process mining, intelligent automation and artificial intelligence. All these capabilities combine to create new digital workflows that can anticipate and adapt to change, with human experience at the center of process design.
Process modernization is essential to becoming a future-ready business that can weather change and disruption from sudden supply chain shifts to global climate and health crises.
For this reason, business operations has emerged as a vibrant space for innovation, with reimagined processes, cutting-edge technology, data and people delivering efficiency and agility. The result: greatly improved customer and employee experiences and new value for the enterprise.
There are three critical elements of business process modernization:
- Enhanced human-centric experiences for all stakeholders
- An agile and resilient operational backbone made for speed and adaptation
- A powerful business insight engine that acts as a force multiplier for strategic goals
To be successful, business process modernization requires planning, time and support from senior executives to ensure buy-in on initiatives that may cause cultural and structural change.
What are the business benefits of business process modernization?
Business process modernization ensures that organizations operate with automated, intuitive processes that enable them to be resilient, relevant and agile in a fast-changing world.
By modernizing business processes, organizations can expect a range of benefits:
- Higher stakeholder satisfaction. Automated, intuitive processes can deliver the experience sought by customers, employees and partners.
- Higher revenues. When processes are infused with automation, data and AI, businesses gain insights that can lead to new and more lucrative ways to deliver customer value.
- Greater agility. Elegant, intuitive processes help businesses anticipate and quickly adapt to changing commercial environments and customer needs.
- More business intelligence. Process modernization combines AI, cognitive and automation technologies with reimagined workflows to collect and analyze data along end-to-end processes. Data is transformed into insight that enables the business to act with greater intelligence and speed.
- Improved performance. Using intelligent process automation and self-healing AI bots, businesses can complete work faster and drive down costs.
- Greater productivity. Process modernization can boost productivity and increase efficiency, particularly by freeing staff from time-consuming, manual tasks.
- Fewer glitches and errors. Automated, data-driven processes reduce human errors that tend to occur when processes are manual and disconnected.
