Business process
In this section, we will learn about the role of improving business processes or functional processes in the context of digital transformation. Improving the business process is often a formal management activity where functional experts lead the redesign to reduce friction and drive effectiveness or efficiency. This exercise often involves identifying the areas to improve and prioritizing the change based on the expected outcome in the form of productivity gains. These productivity gains are often internal to the company.
While undertaking business process improvements, a company may look at the following:
- Inventory of current business processes: Assess the state of the current business processes to stack-rank those that work well and those that are candidates for transformation.
- Simplification of workflows: Mature businesses may evolve into complex workflows and simplifying those may reduce costs.
- Standardization: Trying to reinvent the wheel...
