Author: Peter Bendor-Samuel

IT Modernization Journeys Require New Approach To Transformation | Sherpas in Blue Shirts

Prior to digital transformation to achieve new value creation, many companies undertake IT modernization initiatives to ensure systems can support the digital transformation. IT and shared services groups need to modernize so they can respond more effectively and quickly to the business needs for innovation and competitive advantage. We often find that companies don’t realize that IT modernization in a digital world is very different from traditional transformations in the past. It’s a multi-year journey, and the changes cut across a company’s technology, people, process, talent and philosophy. So, it requires a different approach than traditional transformations. The experience of a leading global healthcare company serves as an example of a highly successful approach.

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Trends in Third-Party Service Providers Transitioning To Digital Services | Sherpas in Blue Shirts

Third-party service providers are redefining how they compete in the new digital world. The pressure to gain market-leading positions intensifies as the new digital business model threatens to shift market share and upend existing market leaders. At the heart of this new business model is a shift away from labor arbitrage and its FTE pricing to a software-defined model and consumption-based pricing., It’s a new world, and I believe it’s important for companies seeking to buy services to be aware of how of service firms are investing to position themselves for the digital market.

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Crucial CIO Skills for Digital Transformation Success | Sherpas in Blue Shirts

What do CIOs making the most progress with digital transformation have in common? They know how to nurture cross-functional collaboration.

All companies are vulnerable to the threat of a competitor’s ability to create new value for customers. That’s why most companies today are considering the opportunities for creating new competitive advantage through digital transformation and virtually all CIOs view digital transformation as a top priority. However, Everest Group’s Pinnacle Model research of more than 200 leading companies finds that only 10 percent of CIOs and their IT organizations are in a state of readiness for digital transformation initiatives.

Through our investigation into these companies’ digital journeys, we identified Pinnacle Enterprises – those that were best prepared for digital change and achieved superior business outcomes because of their advanced capabilities. The outcomes are compelling. Consider these examples:

  • In 86 percent of the Pinnacle Enterprises, the IT organization enabled the enterprise to serve a new market or new customer segment, versus 43 percent of the “unready” enterprises.
  • In 95 percent of the Pinnacle Enterprises, employee productivity increased between 10-30 percent, versus 54 percent of the other enterprises we studied.
  • Of the enterprises implementing Robotic Process Automation (RPA), the Pinnacle Enterprises achieved 4X more ROI (100 percent) than the other enterprises (40 percent) and achieved implementation 3X faster.

Our research also identified the enablers and capabilities of Pinnacle Enterprises to achieve desired outcomes and accelerate timeframes. A notable enabler: We found 95 percent of Pinnacle Enterprises (vs. 58 percent of the other enterprises we studied) built a culture that is effective in collaborating across functions in an organization.

Read more in my blog at The Enterprisers Project

Two Key Enablers for ROI in Robotic Process Automation | Sherpas in Blue Shirts

I spoke with Peter Quinn, who orchestrated the highly successful Robotic Process Automation (RPA) implementation at a large wealth management firm, about some of his insights and lessons learned. In that discussion, two of his methodologies stood out to me. That’s because they’re great examples of key enablers for achieving superior business outcomes through RPA. His methodologies for funding the implementation and for change management led to capturing greater ROI from RPA.

In our Pinnacle Model™ research at Everest Group, we investigated more than 200 leading companies undertaking RPA adoption. While the cost savings from RPA were similar across all the enterprises we studied, we found that Pinnacle Enterprises™ – those that achieved superior business outcomes – achieved a significantly higher (4X) return on investment.

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Strengthen Your Leadership Skills In Implementing Robotic Process Automation | Sherpas in Blue Shirts

After five years of buzz, there is now a lot of momentum in companies adopting Robotic Process Automation (RPA) technology. At Everest Group, our Pinnacle Model™ research assessed the impact of more than 200 leading companies on digital journeys implementing RPA. Our assessment identified companies achieving superior business outcomes (Pinnacle Enterprises™), including 4X the ROI as other enterprises. We found these enterprises invested in key enablers for speed to impact in digital transformation and took a more holistic, participatory approach to implementation rather than a top-down approach. My conversation with Peter Quinn, who led RPA implementation at a large wealth management firm, reveals several characteristics about the successful approach enabling RPA success and higher ROI.

Read more in my blog on Forbes

Augmented Reality Technology Unleashes Enormous Company Change | Sherpas in Blue Shirts

Augmented reality is an exciting digital transformation technology that is surprisingly powerful, and it has a wide variety of applications across industries. But, to me, what is most striking – and more important – about AI is the enormous amount of organizational change it drives across core operations. If your company is considering implementing AI technology, keep in mind that it’s not something you buy for a few million dollars and achieve tremendous benefit from it. It will fundamentally change how your company does business.

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Consequences For Customers From Current Services Industry Disruption | Sherpas in Blue Shirts

The services industry is in disruption, pivoting from highly profitable but mature labor arbitrage factories to a rapidly growing, immature new market based on automation and software-defined market with digital platforms generating value. Most large companies have outsourced numerous IT and business process functions and now depend on the supply chain of services. However, I’m forecasting a services industry consolidation and substantial change in the supply base. Enterprises should seriously consider the impact and risks this market consolidation means for their business.

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Robotic process automation is reworking supply chains | Sherpas in Blue Shirts

Robotic Process Automation (RPA) is a powerful set of digital tools that is poised to have a dramatic effect on the services industry, particularly the business process industry. RPA tools automate well-understood processes currently being done by hand and that have been outsourced. But from our findings in my employer Everest Group’s Pinnacle Model research on enterprises that undertake digital journeys, we believe companies will inevitably apply RPA to work that is not currently outsourced. This will radically change the supply chain of services over the next five years.

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Robotic Process Automation Necessitates Deep Change to Achieve Promised ROI | Sherpas in Blue Shirts

Like most businesses today, your company is probably looking at the possible cost and productivity improvements achievable through digital technologies such as Robotic Process Automation (RPA) and analytics. If so, it’s important to understand that digital transformation is a journey of very deep and broad, company-wide change. Through our Pinnacle Model™ research on digital journeys, we at Everest Group assessed the impact on enterprises implementing RPA. Our study finds that, compared to other enterprises, Pinnacle Enterprises™ (companies that achieve superior business outcomes in digital journeys) achieve 4X the ROI compared to other enterprises implementing RPA, higher improvement in operational metrics and higher impact in strategic areas. What makes the difference in RPA outcomes for Pinnacle Enterprises?

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Avoid This Pitfall In Data-Driven Decisions In A Digital Transformation | Sherpas in Blue Shirts

A business model change often overwhelms transformation initiatives. As I blogged previously, digital transformation collapses business processes into data. When organizations start looking at their business through the lens of data instead of the lens of a business process, serious issues arise. How the people in a company use the data and make decisions about data issues requires significant change management.

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