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July 7, 2017
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Data Capture Drives Digital Transformation
By John Desborough
Information coming into an organization from multiple channels contains essential data that drive business processes and enable automation. With paper and electronic documents both widely used for customer interactions, it’s clear that smarter data capture is essential to smarter business processes.
Digital transformation can disrupt many consumer and corporate services. Think of Blockbuster Entertainment’s physical stores versus digital streaming on Netflix, and taxi services versus ridesharing apps like Lyft and Uber.
Digital transformation ultimately means digitizing processes for improved process transparency and accuracy, ease and speed of transaction, customization and satisfaction from the customer experience. This has become such a major topic that IDC predicts that at least 70% of Global 500 companies will have dedicated digital transformation or innovation teams by the end of 2017.They also predict that by 2020, enterprise performance will be measured by the digitization of new and existing offerings into "born-digital" processes, aimed at increasing operational efficiency and effectiveness.
To realize the "born-digital" state, organizations are going to have to address three core challenges:
- Intelligent information capture has to the first step in the digital transformation process - organizations have to move away from the traditional OCR solutions and find ways to capture data from a wider variety of forms coming into the company. It all has to be captured, classified, extracted and verified before it can be integrated with downstream processes.
- Context has to be added to data in order to make better business decisions. Data has to be analyzed within the context of the customer's needs and cross-referenced with the internal pre-set rules and policies. Unstructured data will require even more sophisticated approaches for capturing, analyzing and extracting intelligence into business processes. Organizations who can harvest intelligence from structured and unstructured data effectively and efficiently will ultimately be able to make better business decisions quicker.
- Line of business owners have to drive the need to transform into the C-suite. They own the business processes and are most directly impacted by the required digital transformation and, therefore, are in the best position to demonstrate the need and the potential benefits to the upper level.
Addressing these challenges head-on will enable organizations to extract the maximum value from the data assets that they collect and generate and to leverage this value into success in their markets.
John Desborough is a Director, Consulting and Technology Solutions at MNP. He is an accomplished business solutions program manager and business transformation architect with 30+ years in the information and technology consulting domain. John has extensive background in information management and governance with both public and private sector clients on a global scale. Drop John a line to discuss this topic in more detail: [email protected]
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