Podcast Audio Transcript
Alisha: Hello listeners, this is Alisha; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, the topic is “live enterprise in business process management”. And to talk about this, we have here with us, Hari prasad, Strategic Business Practice Head – Digital Business Services. Welcome Hari. How are you?
Hari: I’m doing well, Alisha. Thank you for having me. How are you doing yourself?
Alisha: I’m doing good too, Hari.
So, our topic for the day is an interesting one. To start with, could you enlighten our listeners about the concept of “Live Enterprise”?
Hari: It’s a good question, Alisha. Imagine Global Enterprises - To function as digital natives, enterprises get hampered by their complex IT landscapes and disconnected processes and functions. Infosys Live Enterprise is a modular yet holistic suite that enables enterprises to accelerate their digital transformation so they can build connected and responsive value chains by being predictive and proactive, drive intuitive decisions, and be agile to adapt to changing business needs, all at enterprise scale.
Live Enterprise is a scaffolding and structure that strengthens an organization’s digital capabilities to address five key dimensions. Let me talk about these dimensions, as applied to Business Process Management -
- Networked and connected: which is about Collaborative and seamless teamwork being brought into every interaction
- Being Agile: Increased velocity of response to a rapidly changing environment.
- Hyper-productive: Technology-led extreme automation in processing.
- Sentient: Make every interaction value-adding while eliminating non-value-adding work.
- Anytime/anywhere experience: Enable remote-first operating model, leveraging mobility and pervasive technology.
Alisha: Very interesting. Those are certainly some really forward-looking points.
In the industry of business process management, how will Live Enterprise make an impact?
Hari: Live Enterprise will have a tremendous impact in our industry, Alisha.
I see Live Enterprise driving transformation in the following ways.
First - Reimagine experiences for employees, customers and partners through digitally native solutions and experience-led design principles. Metaverse can take Live Enterprise’s dimension of Connectedness to a whole new level for businesses, by seamlessly connecting the Physical world and the Digital world.
Second - Reimagine business processes by applying sentient principles to simplify processes and user journeys, make them connected and remove latency, resulting in seamless and superior user experience across channels. This is complemented by micro change management to drive change across the enterprise, which is - instead of doing one big transformation, we break it down into micro changes that are more easily delivered and consumed.
And finally - Reimagine the ecosystem by embedding AI into the enterprise core, including systems and processes to continuously learn and evolve, as well as enable fluid operating models to facilitate seamless and agile ways of working between customers, partners and employees.
Alisha: This essentially transforms the organization as I can see, Hari.
Could you give a brief look into the ways in which Live Enterprise could benefit a client?
Hari: Alisha, it’s very evident that Live Enterprise will be a force-multiplier for organizations going forward.
The objective of a Live Enterprise is not just to make organizations sentient in the current context, but to also make them future-ready to innovate, grow, and exceed customer expectations, all this at speed. Of course, creating a Live Enterprise demands effective planning and thoughtful execution. Creating a connected organization is important for establishing a seamless experience, and for this - organizations need to invest in creating a shared digital infrastructure. Business processes must be made agile and simple with actionable insights visible through the process lifecycle without latency. All these measures converge to ingrain a customer-first approach in an organization and create connected experiences for clients.
Look, enterprises are still in early stages of accelerating their digital journey and are actively looking for ways to exponentially accelerate and scale up. If the pandemic has taught us anything, it is that businesses need to respond increasingly like a living organism, adapting in real-time to their environment, the global crises, or shifting market dynamics and customer preferences. This is why Live Enterprise is so important for our clients.
Alisha: Could you expound on one of the recent success stories in which Live Enterprise has provided these key benefits to the client?
Hari: Absolutely! Let’s take the example of one of our leading, global manufacturing clients, where Live Enterprise made a difference. With operations in 35 countries, they were facing several challenges, with multiple source systems, loosely entwined networks and obscure connectivity of functions that impacted their day-to-day operations and strategic decision making. These factors led to low metrics of business performance with lack of visibility. The Payment on Time (POT) to vendors was at 64%, significantly lower than the industry average of 90% with ~25% material overdue, all this introducing significant supply chain risks and downstream bottlenecks.
The Live Enterprise-centric approach helped us build a robust network of integrated systems and enabled teams spread worldwide to be well-connected. This provided much needed visibility to data from around the globe and to 25 key P2P business metrics, that provided critical recommendations and insights. We helped the client build a networked and connected ecosystem.
This resulted in enhancing their Payment on Time to 96% and reduce material overdue by 30%.
Alisha: That’s really great to hear you managed to bring so much improvement to data quality for that company.
Hari, thank you so much for coming to our podcast today and giving such a detailed overview of Infosys Live Enterprise.
Hari: The pleasure is all mine, Alisha. Thank you for having me on this podcast.
Alisha: Dear listeners, if you enjoyed our podcast today, please don’t forget to share and like it on social media. Our social handles are mentioned in the podcast page. The podcast will be available on various platforms like Google Podcasts and Spotify, in addition to our website.
Also, if you have any queries, do reach out to us through the email address on the podcast description. Watch this space for more exciting podcasts coming up. Once again, thank you for tuning in, stay healthy and socially distanced. Have a nice day!