Digital transformation leverages new-age technology and data-driven insights across an organization’s value chain to increase revenue and reduce costs, improve operational and workforce efficiency, and redefine an organization’s business model. We are achieving our business goal. As this transformational journey shapes the technology landscape at an ever-faster pace, we are seeing a convergence between the new generation of digital technology (DT) and traditional information technology (IT).
With each passing day, these digital technologies are becoming mainstream. What was once considered only digital projects and driven by the business is starting to fail without the involvement of the core IT team. These solutions and projects have also highlighted frontier problems in legacy systems and prompted changes and investments in new systems.
For example, an automation project that requires invoices to be processed and entered into an ERP system will fail if the vendor’s master information in the ERP system is inaccurate or incomplete. Conversely, with the right workflow tools (to get proper governance and approvals) and automation tools (to update the system), the same vendor information in the vendor master can be updated/corrected in real time. What we see is that digital technology, properly integrated with legacy systems, can be used to both find and fix problems.
We have seen with most of our clients that the involvement of both IT and business teams has become critical to the success of their data/automation/transformation journey, making the integration of DT and the IT environment mandatory. I was.
Consider another example that looks at the steps required to achieve an intelligent accounts payable process. Optical Character Recognition (OCR) and Natural Language Processing (NLP) are required to extract the required information from invoices, and using a platform (BPM/RPA/RADT), users can can be approved and validated, put on hold, and posted in the ERP. Systems (RPA/API), processing payments (RPA/API). Each step has multiple technology choices, and for each technology you choose, you have multiple tools to create the desired solution. This desirable solution requires integration with existing IT systems and the necessary digital technologies.
As this consolidation becomes a necessity of time, consolidation of technology providers is also starting to happen. Tech giants that have been very strong with one or more products are now adding more products in organic or inorganic ways and offering platform stories. It’s about creating a platform that you can offer your clients and integrate to provide a seamless experience that creates intelligent processes.
Some of the OEM players that started as pure process automation tool providers have expanded their product offerings to consider application development, process mining, and artificial intelligence as extended product suites.
There are other product companies like Salesforce that started as a CRM product company but decided to make the story of the platform through the inorganic acquisitions of analytics/visualization platform Tableau and integration/middleware company MuleSoft.
Finally, some traditional software developers like Microsoft are using Azure Data Factory for their cloud data platform and AI, application development (power apps), automation (power automation), Power BI (data visualization). It provides an entire set of services to enterprises while providing
However, the true benefits of technology convergence are enjoyed by organizations that adopt these technologies. To that end, the digital maturity of the organization also plays an important role. His five stages of digital maturity are Skeptical (1), Novice (2), Follower (3), Expert (4), and Leader (5).Dhrubabrata Ghosh Dastidar, Managing Director, Data & Digital Solutions, Protiviti Member Firm for India
The true benefits of technology convergence come when organizations mature to become more than digital followers. Technology convergence follows naturally from process convergence as organizations mature. Organizations start using platforms that can span multiple teams and offer multiple services depending on the needs of each team.
In conclusion, it is important for today’s organizations to understand this convergence and make it work for them as they prepare for their transformational journey. These organizations need to understand the technologies or platforms currently available that can provide the competitive advantage they need in their industry. Every organization, regardless of its digital maturity, needs to create a roadmap to reap the benefits ahead. But we must remember that technology is only an enabler. Reaping the benefits of technology convergence in an increasingly digital world requires the right people – the right leadership and organizational culture.
The author is Managing Director of Data & Digital Solutions at Protiviti Member Firm, India.
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