Business Transformation Services
Business transformation is a broad term that can be applied to one or more areas of your company. The goal of any business transformation activity is to use design thinking and a diverse stack of tools that are fit for purpose to generate meaningful business. Business transformation starts with defining the problem statement and measuring and benchmarking the processes to bring efficiency and increase performance.
Organisations understand that manual processes and workflows have bottlenecks, which cost them money. Still, 75% of business transformation projects fail due to a lack of expertise or bad planning. This is where business transformation as a service (BTaaS) can help.
Steps to achieve successful business transformation
Successful business transformation requires a planned approach with an experienced partner that understands your business. This is the reason many companies choose to outsource the service. Although it is not a one-size-fits-all solution, common steps to achieve success in business transformation include:
- Set realistic short-, mid-, and long-term goals.
- Take a strategic approach and get a buy-in from all the stakeholders.
- Understand your budget and current operational capabilities.
- • Get the right BTaaS partner onboard and use technology to increase efficiency and ROI.
The business transformation could be in one specific area, such as waste reduction or a complete process, such as manufacturing and packaging.
Types of business transformation
- Slow-motion transformation: This transformation is for the long term and includes cultural changes and corporate turnarounds. For example, a logistics business that aims to get more visibility and transparency across the supply chain requires technical, cultural, and organisational change, which is a long-term goal.
- Sprinted transformation: This sudden change is triggered by an urgent challenge to the status quo. The digital transformation that many companies underwent during the COVID-19 pandemic was an example of a sprinted transformation in an emergency.
- Negotiated transformation: It is in response to external demand or regulatory changes outside the company’s control. This requires a slow pace of negotiation and stakeholder management. The GDPR law in the EU is one such negotiated transformation.
- Hijacked transformation: These changes happen due to a disruptive and often destructive change because of outside forces. An example is the recent Russian invasion of Ukraine that disrupted global supply chains and sent commodity prices into an upward spiral.
The COVID-19 pandemic has disrupted many businesses drastically and has re-emphasised the need for transformation and innovation. Digital transformation has taken priority for all business owners, which includes automation in both backend and frontend operations and business decision processes.