Acting quickly and accurately has always been key to building and maintaining a successful organization. After a year of living with the pandemic, we were taught that those capabilities were not only desired but also essential for companies to survive under unpreceded disruptions. They helped companies to quickly adapt to new market conditions, customer requirements and new ways of working. Moving forward acting in the moment will allow organizations to accelerate their time to value and enhance many business aspects, especially:
- Improve customer experience – impatient customers appreciate having their products and services provided rapidly, without any delays
- Take informed decisions based on relevant real-time data – acting on information in the moment may significantly improve the quality of processes
- Reduce financial and operational risks – by having access to relevant information immediately, it’s easier to take appropriate action at the right time
Many companies, however, are still struggling to achieve such capabilities. There are two main reasons behind it:
Fragmented environment: The majority of large, established organizations built their IT environment for years, usually through acquisitions and adding new functionalities, often without proper integration. Usually, they ended up with siloed and fragmented environment which does not support seamless data flows and process automation. In consequence, many processes remain manual and, therefore, lengthy, error-prone and highly inefficient.
Human factor: People have the tendency to postpone boring, manual or difficult tasks. If they don’t have the right tools that allow them to take an easy action in the moment and deal with the problem immediately, it may end up at the end of a to-do list and be delayed. This may bring serious consequences to the business, including financial losses.
Read the full article on their website.