How digital workflows can assist organization leaders unlock development in 2021.
2020 was arguably one of the most disruptive years for company in heritage. And we’re not out of the woods however.
In light-weight of the continuing pandemic and the prospect of a recession putting the squeeze on work, there’s no question that 2021 will be a make-or-break year for many companies.
As company leaders, we now come across ourselves and our organizations at a crossroads. Do we double down on the digitization advancements we designed in 2020? Or do we wait around and see what the subsequent disruption will be? Some providers are facing this challenge head on, embracing the digital workflow revolution as a implies to not only survive, but to lay the foundation for ongoing innovation.
In the newly released CIO Outlook Report 2021, from Constellation Study, ft 77.3% of surveyed CIOs rated electronic transformation as the prime priority for 2021. But transformation is difficult. New IDC assessment found that European businesses invested $332 billion in total into digital transformation initiatives in 2020, but only 26% sent any ROI on all those investments.
So, if simply throwing cash at the problem doesn’t perform, what does?
From my point of view, there are a few key actions CXOs must adhere to to unlock advancement and push the envelope on transformation in 2021:
1) Target on firm-vast electronic transformation
If very last 12 months confirmed us anything, it’s that digital workflows make businesses more robust.
Organizations that had executed a digital transformation initiative prior to the pandemic hit arrived out of 2020 in a considerably better posture than many others.
Making use of a strategic lens on transformation to travel business model innovation is a little something that will have to continue into 2021. But there’s a appropriate way and a incorrect way to do it.
CIOs have historically led transformation attempts on your own, but this siloed approach is rife with blind spots that can torpedo a transformation effort.
In a modern discussion with a CXO, I was struck by just one comment in specific: “Digital transformation is the job of every person in the C-suite.” This means that no matter if you’re a CFO, CTO, CHRO, or other C-suite leader, you have an person perspective that brings enormous worth to the desk. Technology is something we all require and use in our careers, and all leaders have a one of a kind perspective into the workflows that ability their individual corporations.
By sharing these perspectives, as nicely as collaborating and building relationships with other senior execs around you, you can identify widespread plans, complications, and options to remodel company functions in the prolonged time period. That will help your entire business optimize value and drive expansion across the board, not just in your section.
2) Use the learnings of 2020 as a springboard for 2021
Amidst the troubles of final yr, there ended up opportunities and successes, also.
Facts-led insights and next-gen technology have played a very important role in addressing the fallout brought on by the ongoing pandemic, with almost every single sector and sector possible leaning on digital resources to keep day-to-day operations functioning.
In the early times of the pandemic, providers depended on applications like ServiceNow’s crisis response suite to keep working safely and securely and correctly. These days, prospects like NHS Scotland are building on these technologies to deliver a full-blown vaccine management method that will support them vaccinate 5.5 million citizens in just 90 days.
Throughout 2021, these technologies and info-primarily based insights will remain critical to success. Business leaders need to analyze the options place in area in excess of the last 12 months to determine which ones are scalable for the long run, which ones insert benefit, and which ones are best left driving in 2020.
Planning is critical to success. By consolidating the wise imagining of last year—and outlining finest techniques and business continuity options for the next—we can lay down a solid foundation for future advancement. From there, we can plan out our new standard, detect the architecture, platforms, and simplifications we require to make our businesses even far better, and explore new regions for progress.
3) Maintain the expertise major of brain
Covid-19 put buyer experience in the competitive highlight. Whatever answer, item, or support you supply, it’s crucial to make a amazing, collaborative working experience that puts customers firmly at its center.
Having that ideal suggests we as business leaders will need to interact much more intently with these consumers. It’s not sufficient to know a customer’s challenges. We will have to ground ourselves in an appreciation of their business: their merchandise, their marketplace, what is working properly, what is not, and a lot additional moreover.
Just as critical, the more we have an understanding of the effect of the employee practical experience on customer pleasure, the extra we know they are two sides of the identical coin.
New study from ESI ThoughtLab and ServiceNow indicates that digitizing the employee working experience boosts efficiency while slashing charges, foremost to increased satisfaction for personnel and prospects. In reality, adopting digital processes experienced a cascade result, improving upon each the buyer encounter (40%) and employee satisfaction (39%).
I noticed this in action when Uk governing administration section DEFRA applied ServiceNow to prepare for Brexit by bringing six citizen-facing purposes in house. The final result was a 50% reduction in agent call times and a positive trickle-down effect on staff who described the move as a “morale booster.”
Be part of the digital workflow revolution
It’s easy for suggestions to seem glib or insincere. Which is why it is significant for me to make clear that all these recommendations have arrive from numerous conversations I have experienced with our C-Suite clients at ServiceNow.
2021 retains huge prospects for growth if we face it in the appropriate way: Not with disparate tools and siloed company units, but with details-driven insights and a digital workflow platform that unites the complete firm.
By doubling down on digitization, you can make this calendar year the most progressive a person nevertheless.