Is technology the answer?

It's 2024. Every business is now a digital business.

The 4th Industrial Revolution started some 20 years ago. It follows on from the Digital Electronics Revolution of the late 20th Century.

That was the time when Technology was the answer.

• Whatever the business issue, technology could be relied on to find a solution. Or so we were persuaded to believe.

Wikipedia describes the new age as follows

In essence, the Fourth Industrial Revolution is the trend towards automation and data exchange in manufacturing technologies and processes which include cyber-physical systems (CPS), IoT, industrial internet of things, cloud computing, cognitive computing, and artificial intelligence.

Yes, technology is still there but the reality is, technology has not really delivered.

Some businesses have seen success.

But for most business leaders, IT means more money is needed, unsatisfactory outcomes, no ROI.

The businesses that have seen success have a common theme.

They focus on Data, not technology. Everything is viewed through a Business focussed, Data Paradigm.

1. Leadership: They will have an executive charged with the delivery of Data, Information and Insights.
2. Business Architecture: The Business Model is dynamic, up-to-date and encompasses the whole business.
3. Business Glossary: Where every strategic objective, goal, and KPI is defined. Every Term, initial, acronym and metric is defined and shared across the business. Nothing is left to chance. Everything is defined.
4. Master Data Structure: Like the financial chart of accounts, the Master Data Structure is a business based definition of how data is organised. Where it is captured and stored, and how it is shared and how it is accessed.
5. Integrated Business Systems: Systems that manage and monitor the business processes. They are owned by the business, not departments, or teams or individuals. They are efficient and scalable. They promote best practice and they are not constrained by internal boundaries. They help promote a seamless experience across the business.
6. Reporting: Often refer to Reporting Democracy: Reports that are available 24/7 based on up to date, accurate data. Provenance is built in. Trust and confidence in the output is universal. Reports that are not reliant on key personnel or departments curating data before they can be run.
7. Data Governance: Data is knowledge so governance structures must be put in place that control who can access data, when and why. How is data shared across systems, where is it stored. How can it be used. There are legal frameworks, as well as proprietary concerns. Data can have value; however it always has liabilities.

Where do you start?

By focusing on Business needs. There are likely to be leadership and cultural issues to address. A key part is the need to start a Business Process Model that accurately reflects how your business actually runs. Where you can identify ownership, risk, dependency, and compliance. Where you can highlight opportunities for automation and efficiency. .

How can any business in 2024 know what it needs to do first without a Business Process Model?

What would happen to your profitability if you could improve everything by 1%? What does that actually mean in reality? You have to know how everything works. Not in isolation, but as part of your business machine.

There are additional tools that will enhance these benefits.

Process Mining is one of these. Yes it can be be used to accelerate your Process Modelling project but it is also a key tool in identifying what is really going on in your business.

• Benchmark current process KPIs
• What are the variations in systems and processes between departments, depots, offices.
• How long do activities take.
• How busy are different parts of the business.

Digital Twins or Process Simulation allows you to test scenarios. Failure of internal or external systems; digital transformations or new technologies.

Business Architecture

• Visualise, map, and associate
• Business Services, Process, System, Facilities, Information, RACI, Vulnerabilities, KPI

GRC

• Governance, Ownership, Change Management, Risk, Compliance, Reporting

If you want to know how to get going, please get in touch.