In the digital economy, big IT budgets, lots of brick sand mortar and an established market presence are no longer at the foundation of a competitive advantage. What matters now is the agility and speed to ensure that customer centricity is supported as an overriding priority of business operations and decision making.
Game-changing ideas are developing and competitive threats are emerging at a rapid and unpredictable pace. The resulting digital disruption is not just occurring at the margins or within isolated pockets of industry and commerce. Itís the new normal and its consequences are far reaching. The essential question for every organization in every sector is simply: Will we be the disruptor or will we allow ourselves to be the disrupted?
Staying ahead requires adopting a combination of technology solutions. Key among them is a smart process and decision management system that infuses every process with intelligence in order to continuously raise the bar for customer centricity, while sharpening the competitive and operational edge through enhancements, such as accelerated loan approvals, personalized offers and the ability to proactively respond to customer needs and preferences.
Until recently, the level of business process management (BPM) and operational decision management (ODM) capabilities that supported digital transformation was only available to large organizations that were positioned to commit significant capital expenditures. Thatís no longer the case. The cloud has proven to be a great equalizer, opening a new venue for speeding innovation and creating value from the data surrounding relationships and transactions.