Posted in Digital Transformation

6 Keys to Digital Transformation for Small Businesses

Digital transformation is essential for businesses of any size to stay relevant and competitive in today’s market. Yet for a small business with a limited budget, it could sound like an intimidating undertaking.

However, you simply can’t ignore the benefits of using the right technologies in your business. It’ll help you improve efficiency, lower costs, increase productivity, improve customer experience, and ultimately, boost profits.

In fact, 42% of SMBs now consider digital transformation a core component of their organizational strategy. Digital leaders are doubling the performance of digital laggards.

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Posted in Digital Transformation

Digital Transformation For Small Business: Key Areas To Leverage Technology For Growth

There’s a lot of buzz around the term digital transformation (DX). As a small business, you may wonder if it’s something you need to pay attention to.

It sounds like a fancy gimmick for large corporations with big IT budgets.

However, no small business can afford to ignore digital transformation. Don’t sweep it under the rug. You’ll likely miss out on opportunities that will set your business up for success for years to come.

Digital Transformation leaders outperform laggards.

Research conducted by Bain & Company revealed that digital leaders more than double the performance of digital laggards in their industries. Profitability follows the same pattern – 83% of the leaders increased their margins over the same period while less than half of the laggards did so.

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Posted in Digital Transformation

A five-phase roadmap for digital transformation

There’s no doubt that the modern workplace increasingly relies on digital technology. Amazingly, paper-based forms and processes are still commonplace across organizations of all sizes. Examples abound from patient information forms that repeatedly request the same data to extremely paper-intensive processes like on-boarding a new hire with dozens of forms and signatures.

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Posted in Digital Transformation

How To Achieve Digital Transformation With Low-Code Development Platforms

The speed of technology evolution has forced enterprises to reimagine and redesign their business processes. The digital revolution has now moved well past convenient apps that let you order food and hail cabs to a collection of smart technologies that will impact every facet of every single business. This digital transformation isn’t coming — it’s already here. Your task over the next three years is to apply these smart technologies to fundamentally remake your business operations.

Digital Transformation Is About Customer Centricity

Digital transformation is neither a single project nor a single technology. It’s not about modernizing legacy systems or slapping a mobile experience on applications. It’s the process of using digital technologies to focus your operations on rapidly addressing customer pain points. And that starts with your core operations.

Technology, however, can only do so much. Ultimately, it’s the people and business processes at the heart of your organization that will truly drive change and digital transformation.

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Posted in Low Code Platform

Visual, Drag & Drop Workflow Automation – really!

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In previous articles, we’ve written about how workflow automation is the foundation of digital transformation. Ultimately, it’s not technology but the people and processes in your organization that can truly drive transformation of any kind.

Digitizing day-to-day workflows can be a lot of work

Consider what it takes to digitize your routine day-to-day workflows (Purchase Order or Travel Authorization).

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Posted in Digital Transformation, Workflows

How to automate processes to achieve Digital Transformation

 

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Digital transformation is a huge opportunity – perhaps the greatest of the next three years. Automating your day-to-day business processes should be the first step in your journey. If you haven’t yet invested in a workflow automation platform, consider making it a top priority.

Check out the full article by our CEO with 5 tips on how you can achieve digital transformation over at business.com.

Photo by rawpixel on Unsplash

Posted in Digital Transformation

A Modern Framework for delivering Digital Transformation

It’s 2018. By now, your organization surely realizes that digital transformation is no joke and an absolute must for business innovation. The momentum is too great and companies unwilling to embrace it will find themselves at extreme risk of digital disruption and will quickly fall to irrelevance. Those that fully embrace digital transformation will find that it gives them a massive edge over their competitors regardless of industry.

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So, what should you as a business leader consider as your organization races towards its digital future?

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Posted in Digital Transformation

Your 2020 Innovation Strategy? Three ways to embrace Digital Transformation.

Digital Transformation is the greatest opportunity of the next 3 years. But, to win, you need to understand the urgency, take action and seize the opportunity.

We are clearly in the midst of a [second] wave of technological advances that are markedly different from the 1990s Internet-fueled wave. The stuff of sci-fi movies is here. Computers are winning at Jeopardy, diagnosing diseases and driving cars. Billions of smartphones are in the hands of people worldwide – connected, immensely powerful computers with the capabilities of countless sci-fi films. The majority of people are connected to each other and to the collective knowledge of the world and they’re engaging with you in this digital world in new and interesting ways.

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You have to be ready. This digital disruption is both a huge challenge and an enormous opportunity. Disruption is hardly new – it’s been happening for all of human history. The difference now is the speed. What used to take decades now takes years and even months.

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Posted in Digital Transformation

Want Digital Transformation? Start with your workflows.

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What is Digital Transformation?

By now, everyone’s heard of Digital Transformation. Digital Transformation is the process of using technology to radically change your business to pursue new revenue streams & business models and to avoid disruption. But, what exactly does that mean?

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Digital Transformation is not a single IT project. It’s the combination of numerous projects that infuse “digital” into everything within your organization – from evolving the underlying technology to servicing your constituents increasingly on mobile to digitizing your processes to create efficiencies to integrating with third parties to create better customer experiences.

Ultimately, though, DBT is about organizational change to improve performance through the use of digital technologies.

Start with your Workflow

templates.pngTechnology itself makes a difference and creates innovation but at the end of the day it’s the people and the business processes in an organization that can truly drive change, disruption and transformation.

Automating your day-to-day workflows is at the very foundation of digital transformation. If your organization does not already have a workflow automation platform, I strongly suggest looking into one now. Using a platform, you can digitize forms for employees and customers and automate your routine processes. Once they’re automated, you can measure the effectiveness of those processes and optimize choke points to drive genuine change. You can collect and analyze your proprietary data in myriad ways to improve business performance.

Without workflow automation you’re still dealing with manual processes. You’ll probably need to worry about being disrupted and becoming irrelevant.

5 ways Workflow Automation can change your business

1. Increased Efficiency

What might the transformed, modern business application look like? It will undoubtedly:

  • Automate forms and workflows so there’s no need to print, sign and scan.
  • Integrate with data and systems to reduce tedious manual data entry.
  • Intelligently route documents to the right person at the right time to ensure that business constraints are satisfied.
  • Automatically support all mobile devices and speed up the approval process by providing 24×7 access from anywhere.

2. World Class Customer Service

if_seo_web_3-19_1152167.pngOver-delivering on customer service is the single most important thing you can do to increase revenue. Otherwise, today’s consumers will quickly move on to the competition.

Today, customers are used to interacting with your organization online at any time. If they need some information from your company and it’s only available during business hours, they’ll be frustrated and feel inconvenienced. Automation ensures that your customers have a smooth experience by enabling them to access information when they need it.

When employees are wasting time chasing down internal approvals, they have less time to focus on customer service. Automated approvals free up their time so it can be invested into what’s important: customers, students and patients.

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3. Enable Mobility

mobile-apps-175% of U.S. information workers rely on mobile. In response, businesses are prioritizing mobility with 88% of them saying that mobile functionality is either very important or an outright requirement.

But, one-off mobile apps are hard and barriers abound. Time, budget and skills are all in short supply. In addition, mobility nowadays is about reaching users through all channels, especially mobile web browsers, as users often don’t bother to install a native app.

Workflow automation systems offer visual and low-code approaches that let you provide business functionality in web-apps and spread that development out among more people – the “citizen” developers in your organization. That in turn eases pressure on I.T. teams, freeing them up to meet business needs.

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4. Business Agility

Business Value from Cloud

Automation taking advantage of cloud (+ mobile) is a critical driver of business agility – roughly speaking, the ability of your business to react rapidly to changing business conditions. Think of two main aspects:

  • Responsiveness – Enable employees to do the right thing at the right time. That means reducing business complexity (stop wasting time on paperwork, errors, missing signatures etc.), employee efficiency (let them work anytime, anywhere and using any device) and collaboration (access to people and information from anywhere as needed).
  • New Opportunities – Faster rollout of new business initiatives as business conditions change e.g. introduce a new product offering or modify internal processes to quickly satisfy changed customer demands even something as simple as letting people buy on their mobile phone.

Both are sources of significant competitive advantage. According to Harvard Business Review’s recent survey on Business Agility in the Cloud, companies are already seeing business value and benefits from simplification, collaboration, and faster reactions to new opportunities.

This business agility appears to lead to some very tangible and measurable outcomes: 49% are more likely to have entered a new market in the past three years i.e. rolled out business initiatives quickly to take advantage of a new business opportunity. Significant majorities believe cloud (+ mobile) reduces business complexity (71%), increases employee productivity (69%) and responsiveness to customers (53%).

 

5. Astounding ROI

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It’s often hard to see how much those paper- and email-based workflows are really costing you. Let’s do a quick analysis. Consider a 3-step workflow:

  1. Performed by an Employee – a Travel Authorization or Purchase Requisition. Let’s say this employee costs $80,000/year including benefits, vacation, taxes and other costs (equivalent to a salary of about $60,000).
  2. Performed by a Manager who essentially checks the request, approves it if it is valid or sends it back for corrections. Let’s say the manager costs $100,000/year inclusive of all costs.
  3. Performed by an HR or Finance person who essentially updates an internal system and does the equivalent of filing the request. Say, this is a part-time person costing $60,000/year.

Now, assume that the time savings are 10 min, 3 min and 3 min respectively in each step. That’s pretty conservative given there’s no printing, signing, scanning etc. involved. Finally, assume that there are 400 approvals per month of all kinds (Vacation requests, Sales Orders, Timesheets, Travel Authorizations etc.)

How much do you think you will save in costs? You might be shocked:

You’ll save ~$50,000 every single year or 57% of your costs and see net positive ROI in just a bit over 2 months.

That paper/email process actually costs you close to $85K per year. And that doesn’t even take into account the time spent trying to track down emails, chasing down managers for signatures or, perhaps of greater importance, the Opportunity Cost of delayed approvals.

Looking Ahead

Analytics and Artificial intelligence (AI) will play a major role in the future of business transformation powered by digital technologies. But deploying these technologies relies on access to your proprietary data making it your most valuable asset. Workflow automation is the foundation. Think about it!

Paper- and email-based processes deny you access to your single most valuable asset – your business data.

Eventually, AI engines powered by data analysis will end up automating the optimization of your workflows. But, your processes need to be ready.

If you want digital transformation, start with workflow.

Interested in finding out more? Visit our website to and see how customers are already using frevvo’s public and private cloud solutions to transform everyday business processes.

 

Posted in Customers, Forms, Workflows

At Tailored Brands, a team of just 2 people has successfully implemented 100+ forms in their 1400+ locations.

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With leading menswear retailers such as Men’s Wearhouse and Jos. A. Bank, Tailored Brands provides a one-of-a-kind shopping experience with compelling products and world-class service via their 1400+ locations in the U.S. and Canada.

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They were using a different product which generated very large files, required local emails, was hard to use for dynamic forms and was expensive to maintain. Their Manager of Intranet, Jim Rinke, decided to investigate alternative products for their digital transformation journey.

After a lengthy search, Tailored Brands selected frevvo in 2011 for its drag-and-drop design, robust dynamic forms, 100% browser-based interface and the ability to route the form to different recipients based on user data.

“We were looking to replace the product we were using with a system that would work in our 1400+ stores.

Our forms are highly dynamic and can have complex business requirements. Using frevvo’s visual designers, we’ve now implemented 100+ forms & workflows. frevvo Cloud just works and meets our needs at reasonable cost.”
– Jim Rinke, Manager, Intranet & Documentation

Using frevvo’s low-code, visual solution, Tailored Brands’ team of just 2 people has now implemented 104 forms and workflows for a wide variety of use cases such as Inventory Request, Store Appearance Checks by multi-unit managers, Theft/Robbery/Damage forms, Employee or Customer Injuries and others.

The benefits are enormous:

  • Previous forms were seamlessly replaced with online versions.
  • Small file sizes mean they work fast and efficiently in the store locations.
  • Dynamic behavior is easy and the forms automatically show/hide sections based on user data, perform calculations etc.
  • Built-in mobile allows employees to use an iPad to complete forms.

Tailored Brands intends to continue rolling out additional forms and workflows, especially workflows that can route directly to an email address (anonymous user).

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Learn more by visiting our website.