Previously, we discussed one instance of development of a connected enterprise in delivering heightened business outcomes — having a transformative technology like medical claims processing software handle patient claims helps not only streamline the entire document-based process but also connect payers, providers, and the various stakeholders, invested in closing claims, on a common platform. The collaboration that is achieved with this kind of a connected setup helps accelerate customer service — in this case, deliver reimbursements to the claimant swiftly.
“...growth of different departments tends to happen in a haphazard fashion, where individual business units are inclined to stray away from the common goals of an organization. It is at this very point of business development that companies show signs of stagnation due to lack of a cohesive effort to bring all resources under one roof & work in tandem. This is the very characteristic of a siloed business infrastructure where the right hand doesn’t know what the left is up to. We see this as a common impediment to delivering the best customer service in growing companies...”
We further discuss the necessity of a connected enterprise, the essential tools that help build it, and what SMBs can do to initiate a system of enterprise connectivity for better business outcomes.
The concept of a connected enterprise essentially came about as a way to establish a more customer-centric business model. Customer is still King, and while the choices for the buyer have multiplied over time, the difficulties to satisfy a customer have equally multiplied. Given the stiff competition in the marketplace, companies are looking for novel ways to not just engage but also retain customers for a long time.
That’s why, more and more companies are investing in technology, business models, and strategic initiatives that will help pool resources and maximize effort in their journey to deliver on customer expectations.
The trouble with a growing enterprise is resources are often stretched thin. Added to that, the addition and growth of different departments tends to happen in a haphazard fashion, where individual business units are inclined to stray away from the common goals of an organization. So, while growth in business is a good thing, it’s at this very point of business development that companies show signs of gradual stagnation due to lack of a cohesive effort to bring all resources under one roof and work in tandem. This is the very characteristic of a siloed business infrastructure where the right hand doesn’t know what the left is up to. We see this as a common impediment to delivering the best customer service in growing companies.
A connected enterprise eliminates departmental silos, bringing all elements of production under one roof. But how does one go about building a connected enterprise?
New management models have removed the traditional barriers between a manager and employee, and provided scope for responsible autonomy. Also, work structures have evolved from being people-driven to process-driven, setting the stage for a horizontal hierarchy rather than a top-down approach. This, to an extent, eliminates the traditional impediments to growth and productivity, which are
But there is still an inherent lack of group coordination and inter-departmental, as well as intra-departmental coordination that often results in
A connected enterprise resolves these functional challenges by bringing together people, processes, and systems. Technology plays a vital part in establishing a connected enterprise. Intelligent Process Automation (IPA) uses digital transformation technologies including AI and Machine Learning, Intelligent Data Capture, RPA, and Business Process Automation to develop an end-to-end digital process flow for every content-dependent function.
Take the case of accounts payable function — an AP automation software that employs IPA technology to automate the painstaking process of data entry and vendor invoicing also creates a digital chain that seamlessly connects vendors to your AP department.
If integrated with your ERP/ECM/CRM system, the AP automation software will setup an end-to-end process chain from vendors (sourced by procurement department) to your AP department and also your Marketing and Sales department, enabling connectivity between at least three business units! This ensures that business data flows systematically between departments, eliminating instances of data silos. Added to this, process implementation is also accomplished with the three business units working in tandem, eliminating instances of functional silos.
Intelligent Automation gives rise to a connected enterprise. Companies can establish easy connectivity between departments and within departments by optimizing process chains in each business unit using this technology. The capabilities of a connected enterprise are manifold:
Also, apart from digital transformation technologies, other elements of a connected enterprise include embedded systems, wearables, and sensors. Using these smart connected devices, companies can trace buyer journeys and design marketing and product development campaigns accordingly. IPA, in a way, helps companies develop a customer-centric business model.
A connected enterprise sets the stage for increased productivity by reaching out to the customer faster, with more accurate and timely service, based on up-to-date data. Businesses also benefit from accurate data at the point of execution as they are able to exercise informed decision-making.
Even small businesses can initiate a system of enterprise connectivity by investing in intelligent process automation solutions. Talk to Artsyl today to adopt a transformative technology solution for your enterprise.