In this era of digital transformation, revamped business models and the consistent urge to remain ahead of competition, companies are always looking for ways to execute on their business strategy.
With an emerging era to run live, we continue to see a similar trait among these strategies based on convenience, responsiveness, relevance and reliability. What are the drivers that are leading the changes in the way the digital economy is transforming? To no surprise it has been the same factors that have triggered the creation of the digital economy that is continuing to promote change, requiring more and more companies to enforce a model framework and process that provides simplicity to empower people to use the technology.
We continue to see:
- A growth of hyper-connected devices
- An overarching acceptance for digital transformations
- A decrease in barriers for disruptive innovations
- An ever improving cloud economy
Companies like SAP are at the forefront of this digital interruption, operating live not as an option, but a necessity. And the best way to avoid an interruption is prevention.
With the internet, mobile and social media, the channels that businesses offer to their customers are becoming ever more complex. Data is spread across multiple silos, and getting accurate data to the right people at the right time is becoming even more complex at times than the data coming in.
To stay competitive in this interrupted digital economy, businesses and their enterprise systems must be able to:
- Respond to the dynamic business market environment
- Engage with customers in more unique and personalized ways
- Deliver services and offerings at lightning speed
- Analyze data and make critical decisions on the fly
The need to analyze data is crucial for business. The need to analyze quality data, is required, because without this, the “live” connection needed between business and customers would be lackluster at best.
To get unique value from this digitally connected world of business, enterprises should run on systems that are more than just real-time. In this value, businesses can operate and predict interruptions before they happen, allowing them to create new business processes, converting potential errors to potential gains.
In a world set to begin running live at any moment, let’s take a second, take one step back and see if we have the right shoes in place before we start running for the races.
About the Author
As a Solution Consultant with BackOffice Associates, Chris works closely with the team for Pre-Sales, Go-to-Market and provides strategic support in delivering solutions to customers who are on their journey to S/4HANA. Tasked with the responsibility in driving the set forth strategy, he also handles the Information Security Management System framework in accordance to ISO 27001 Standards.More Content by Chris Varghese