Embracing automation for digital transformation
As a reaction to the unprecedented impact of the COVID-19 pandemic, several businesses accelerated their digital transformation efforts to survive through the crisis and reap extended ROI.
In fact, according to a NASSCOM report, there was a 30% hike in digital transformation and automation investment initiatives and an 80% spike in cloud-related spending during this period.
Most businesses are willing to ramp up their investments in automation to achieve their digital transformation objectives during and after the pandemic. While this trend has been on the rise over the past decade, the COVID-19 situation has nudged companies to create actual value through these efforts and get to the next level of digital maturity.
For organizations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed on organizational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like a living organism, will be imperative for business excellence going forward. A comprehensive, yet modular suite of services is doing exactly that. Equipping organizations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organizations that are innovating collaboratively for the future.
On that note, here’s looking at some of the most interesting digital transformation and automation trends for 2021 and beyond.
What are the biggest digital transformation trends in 2021?
If the past few years have been all about thinking out of the box and embracing new technologies, the current trends revolve around implementing digital transformation strategies into action for short- and long-term gains.
‘Eliminate, reduce, standardise, and automate’ is the new mantra for forward-looking organizations, which want to identify gaps in their existing process flows and rectify them by reimagining digital transformation and the role of advanced technologies.
Creating a digital-ready culture that is future- and disruption-proof involves staying on top of digital experience (DX) trends and ensuring that your business capitalises on the immense potential of technologies and trends such as:
- Process automation
Ensuring increased agility and collaboration through investment in digital process automation with artificial intelligence (AI) and smart, automated process workflows.
- Hyper automation
Replacing legacy systems and processes with smarter AI digital transformation solutions for automation, including robotic process automation (RPA), machine learning (ML), and natural language processing (NLP).
- Democratisation of innovation
Integrating business with the latest technological and digital tools to provide smoother, faster, and tailor-made customer experiences (CXs).
- Data analytics
Relying on large-scale data processing and various business analytics to deliver a better CX and stay ahead of the competition.
- Customer experience
Enabling an exceptional CX through customer-facing digital automation that empowers customers to initiate self-service at various touchpoints.
According to a leading global research and advisory firm, by 2022, 90% of large organizations globally will adopt digital automation technologies. To ensure post-pandemic recovery, businesses must develop a well-planned digital process automation strategy that delivers long-lasting success and consistent ROI.
Automation is not restricted to the processes mentioned above either. Modern businesses can and should aim to deliver the ‘anytime, anywhere’ experience not only to their customers, but also to their employees.
Cost reduction, as always, is at the core of any new initiative or change. As businesses invest in automation and process enhancement, seeking and deploying cost-efficient solutions is equally important.
How Infosys BPM can help ?
At Infosys BPM, we help clients rapidly transform their corporate functions such as finance and accounting, sourcing and procurement, sales and fulfilment, and industry-specific areas, including banking and insurance, with our digital transformation solutions.
As your automation and digital transformation partner, we apply our diverse stack of tools and accelerators in a fit-for-purpose method to generate meaningful business impact and insights. Our approach incorporates an ideal mix of design thinking, benchmarking, digital process automation solutions, change management, and more to enable you to navigate digital and disruptive new-age landscapes.
Create sustainable transformation, improve your execution velocity, and convert disrupters into opportunities with Infosys BPM. Learn more about our Business Process Transformation model.