Objectives of business process transformation
The introduction of any new process into an organisation is based on a need that is generally focused around improving processes within the company to achieve one or all of the following:
- Increased operational efficiency
- Optimised business processes
- Improved business outcomes
- Reduction of risks
- Improved cost-saving
- Differentiation in over-saturated markets
- Alignment of processes to new strategies
Manual processes are inherently flawed. They waste time, incur unnecessary costs and increase a company’s risk due to human error.
In addition, regulatory and compliance demands are growing, and businesses are under operational pressure to meet these obligations. As a result, many companies are competing for business, requiring them to undergo due diligence reviews. Companies with streamlined and automated processes are far more likely to be short-listed.