Power of 3 “I “s in business transformation

Improvement | Informative | Innovative

Business transformation is a journey that encompasses a different range of initiatives that organizations adopt in order to bring significant improvements in business performance. Information technology is the catalyst bounded with values that enabling the business to achieve success and market performance.

In today’s business world, competition makes challenges and challenges make opportunities.

For the successful transformation, there are lots of characteristics, but modern fast-moving and technology-enabled business world, IT plays a key role. To easy transform, synchronize information technology to business cultures and objectives and IT will lead the business into different levels.

Here I propose the concept of 3 “I’s “which helps business transformation easily, also brings IT as a value service provider to the business.

 IT is no more just an enabler, but an integrator too and this helping IT on the transition from a cost centre to a value-driven centre and support partner to a strategic partner.

Improvement

IT is the only business unit in an organization that can interact and interlinked with other functional units of business by tools or systems or applications. Here IT should play the lead role in the organization in finding the improvement areas in the business process.

• Process improvement, optimization, automation – identify any process and actions that can be automated, see the possible option of visualization from any current manual process.
• Minimize the issue of transition – put systems which can control the process instead of peoples and it will lead to standardization.
• See the possibility of efficiency gains and operational efficiency by process streamline and different automation models.
• Quantify the returns – reflects cost (ROI) – don’t forget to quantify the returns achieved based on each process improvement.

While performing improvement process on business by enabling automation, optimization, process streamline, IT will lead into value-driven partner and all these improvements, directly and indirectly, brings values to business and helps business on the transformation process.

Information

Take your business to next level with the power of Information. IT plays with data and here IT needs to strategically transform the information into the decision – making process. IT leaders cannot be kept as a traditional data generator but moving forward as a data analyst or data scientist, which gives insights to other business leaders.

• Explore the power of a business analytics platform that blends together with technology and information.
• The technology team should play the role of Data scientist which provides performance indicators, actionable insights, metrics, indicators, future business planning scope and opportunities for business
• Involvement of IT in business analysis and digital marketing.
• Leverage data more on supply chain than a warehouse
• See the possibility of turning the information to business visualization which will be easy for business leaders to knowing the insights.
• This leads to a smart organization to see the business intelligence (what has happened), forecasting (what will happen), prediction (what could happen), optimization (what’s the best path).
• Provide insights to innovation to keep competitive.

Leveraging and utilization of information in a strategic perspective helps business to transform on reaching more markets, new ideas and opportunities.

Innovative

IT should be the major driver of innovation in the organization and IT leaders took the initiative role to drive the creation, also execution of the innovation process. By taking the lead role in this innovation process, success also comes from the skill set of IT leaders. 

To initiate the innovation process in the organization, IT must have real-time interaction with other business leaders, seeing the business strategic challenges and finally as a team, an innovative concept or value will be delivered. Innovation is not always R & D but applying correct trends & technology which helps business growth.

• IT leaders should be the advisor in business. If one application can reduce the operational time from 2 hrs to 20 mts, ie innovation.
• Applying correct technology and adapt to mega trends.
• Explore globalization & mobility – Unwire the business.
• Develop and execute end – to –end innovation process.
• Drive the creation and management of innovation process = > IT involvement and IT leadership.
• The innovation process helps the invention of strategies and management process.

Innovation is becoming a new operation and IT leaders play a crucial role in this operation process.

To empower new experiences, to be competitive in the market, to develop a unique selling point transform your business with the right innovative partner and here IT leaders be a perfect choice.

So what will be the next step? Make the transformation happen with help of 3 “I “s of Information technology.

By using technology 3 “I”s, we decrease costs, risks, customer complaints, manual efforts, redundancy, process conflicts, and employee stress and on other sides, we increase market share, profit margins, ROI, Organization efficiency, Quality, customer satisfaction, market presence and penetration, employee retention.

Act now and synchronize information technology to your business culture and objectives and let your business empower the new horizons.

All the best

www.livenvarghese.com