- Jun 25, 2019,
For many years, the traditional “bounded” IT organization has operated under a model that has emphasized service catalogs, service levels and delivery commitments while being structured around functional silos. These silos include information management, application operations, infrastructure and more. While business leaders may occasionally team up with developers on projects that benefit the business side, meaningful collaboration between business leaders and IT is more rare than it should be.
While this organizational model served the industry quite well for many years, recent advancements in technology have seriously diminished its effectiveness. Modern technology is an integral component of business processes today; cloud-based software-as-a-service (SaaS) tech can now be obtained, operated, and maintained without any assistance from IT, and digital automation is actually resulting in some traditional IT roles and activities becoming completely obsolete.
In a data-driven economy, consumer expectations for services anytime, anywhere has led to a requirement for businesses to become more agile and exponentially increase their speed of delivery. Product and service updates delivered on a monthly basis just isn’t acceptable any longer. The ever-evolving needs of users requires that we embrace an environment of continuous development if we’d like to have any hope of actually meeting those needs.
Let’s look at four examples of how this plays out.
Payroll’s Digital Transformation
While it is arguably one of the most important aspects to any business, especially to the employees, many companies are still operating with payroll solutions that are over a decade old. Many of those that are still on antiquated systems don’t regularly track KPIs, leaving them blind to organizational performance.
Using current payroll technology, payroll teams can actively track key metrics and utilize that data to make informed decisions for the company and help focus efforts on improving the employee experience. Digital solutions can help transform your payroll structure with the following:
- On-demand analytics and reporting
- Restrict access based on security clearance or position
- Seamless integration with your time and labor management processes
- Extensive tracking ability of multiple worker classifications such as temp and seasonal employees, in addition to full and part-time
The ability of your payroll team and others within the organization – such as operations, leadership and finance – to access and extract that data enables them to make much better “on target” real-time decisions. The more promptly that accurate data can be accessed and analyzed, the faster and more reliably a company can respond to employee needs.
The speed and accuracy of your payroll process impacts your engagement, employee retention, and your company brand. Inconsistent, inaccurate or unreliable payroll means that your employees don’t receive their pay as expected. When that happens, turnover is a given.
As companies across the board make their way into the digital transformation era, they must evaluate the effectiveness of their existing payroll processes. The worlds of technology and business, and the way they’re integrated, continue to change and evolve. To keep up with the competition and maintain their respective positions, companies must update and evolve the payroll systems that they are utilizing.
The Digital Transformation of Procurement
Procurement and agility are two words that traditionally aren’t used in the same sentence very often. Modern technology is providing some much-needed change. While purchases in the past – even regular, recurring purchases – were often held up for days or even weeks, procurement solutions today are making those issues a thing of the past.
You owe it to your entire organization and supporting network to give your procurement process a digital makeover. With the right solution, you can expect the following benefits:
- No business application integration required
- Approval request status available and visible to requesters
- A single place for managers to view and execute all their approvals
- Complete audit trail of all approvals for traceability and historical reporting
- Data securely stored and protected by database encryption, along with access controls and audit logs
- Single wordlist of all approvals
- Push notification alerts
- Integrations and templates for the most popular applications and approvals
- Acceleration of approval cycles
- Improved user productivity
- Increased business agility
The detriments of not updating your procurement procedures include:
- Slow requests for purchases can mean missing out on time-locked deals and discounts
- Slow requests for purchase can mean missing out on limited supply or inventory
- Slow approvals for the payment of invoices can lead to costly interest charges and late fees
- Slow approvals for the payment of invoices can lead to a degradation of credit availability or credit rating
- Slow procurement processes can impact delivery, in turn leading to project delays and missed deadlines
- Slow procurement processes can impact the work of those waiting on the item or service being purchased; factories can stand idle without the parts necessary to build; work schedules are disrupted while workers are paid to literally stand around and wait for deliveries; and logistics can fall into chaos
What Digital Transformation Can Mean For Human Resources
Digital technology has the potential, as well as the ability, to transform HR as we know it. The digital transformation of HR is simply the process of updating your HR operational processes to automated and data-driven procedures.
Standardizing HR processes with automation both boosts efficiency and reduces costs. Technology is making the administrative part of HR less burdensome for all by providing the following:
- Making the on-boarding processes less onerous for both new hires and HR pros
- Allowing for the productive screening of resumes.
- Executing formulaic paperwork
- Fielding questions from employees and applicants
- Facilitating budget preparation
This can save your company and HR teams time and money while helping to create a better, more efficient work environment in the process. Of course, better efficiency means improved productivity, and a productive staff generally equates to a more happy staff.
These capabilities are enabling HR to be able to re-imagine ways of delivering HR services and strategies throughout the organization. For example:
- Use advanced technologies to shift focus from time-consuming candidate-screening processes to fresh HR strategies and business models that support growth
- Help employees with custom career paths, suggest mentors based on skills and competencies, and push individualized and personal learning/training recommendations
- Predict “flight risks” for employees and develop mitigation strategies for at-risk talent
- Leverage management of high-volume, rules-based events with recommendations and predictions.
The traditional view of HR transformation may have been all about doing existing things better; the digital transformation of HR is focused on accomplishing entirely new things.
The Digital Transformation of Engineering
So what does the digital transformation age mean for engineers and the engineering sector as a whole? Being able to keep ahead of the curve in the engineering industry is of utmost importance. With engineering being characterized by progression and innovation, this “digital revolution” is presenting enormous opportunities for engineers and businesses alike and is actually transforming engineering jobs globally and we can expect engineers to be at the forefront of many new developments in the coming years.
Thanks to rapid developments in technology and software, the digital engineer’s role is changing at an unprecedented rate. Engineering jobs that didn’t exist even five years ago have exploded across the board and the digital engineering space has never been more exciting. New startups are appearing almost constantly and recent innovations have enabled them to generate millions of dollars in revenue in just a few short months.
The engineering sector is arguably the area expected to undergo the biggest changes, and the one likely to benefit the most from the digital revolution and transformation.
Transform With the Times, Or Be Left Behind
While it is indeed a good “best practice” not to fix what isn’t broken, the fact remains that many of your processes are certainly not working at optimal levels. Missing features, overlooked or ignored metrics, cumbersome processes, outdated procedures, and time-consuming tasks that are easily combined, streamlined, and even automated – all are costing you much more than monetary losses, as we’ve illustrated in this piece.
It’s time to gain agility and digitally transform your company in order to keep up with not only with technological advancements and trends, as well as with your competition, many of whom have already kicked off or undergone the transformations we’ve discussed.