No Organization Is Too Small To Digitally Transform
Why should all the big companies have fun with digital transformation? Small to medium businesses stand to benefit from the move to digital – it just needs to be more highly targeted. That’s the word from Kevin Craine, content specialist with AIIM. In a new book, he observes how small to medium-size companies can join the digital revolution. “Small and mid-sized businesses are perhaps in the most enviable position to take advantage of the techniques to even the playing field with their larger competitors,” he points out.
Craine identified three areas where small to medium businesses can begin their digital journeys:
Accounts payable: “As other areas of business and commerce have become more and more paperless, the accounts payable process in most organizations remains mired in paper copies and manual workflow. The result is an often costly and people-intensive process that leaves companies vulnerable to competitors and financial executives with a growing unease over the inherent inefficiencies.”
Human resources: ”Managing the human capital of an enterprise requires a staggering amount of documentation that starts even before an employee is hired and continues well after a person has left the company. Digital transformation automates the processes “with modern document and content management tools, and by enabling more integrated data and case management capabilities that are simply not possible using the paper-bound workflow of the past.”
Sales: “Companies that win will be the ones that are successful in empowering their sales teams with the tools needed to leverage customers’ knowledge into meaningful, positive experiences. With centralized, real-time, cloud-based document management and workflow automation those teams can better optimize key stages of the buyer’s journey. Sales promotion and marketing are dramatically enhanced by workflows that digitize documents, stay digital through the entire process, and then leverage workflow automation to route that information to the right team and initiate a winning sales process. Once the deal is done, best-of-breed solutions provide a way to digitize, manage and share contracts with a workflow that eases collaboration between sales, legal, and executive reviewers.”
As the enterprise starts down the transformation path, Craine recommends evaluating current processes and workflows, as well as working toward specific objectives. Develop “a set of specific expectations and objectives like ‘we will reduce the time needed for an invoice payment from 3 days to 3 hours,’ or ‘we will reduce the number of hours spent on-boarding a new hire from five hours to one hour,’” he explains. “Use these desired ‘to-be’ measurements as part of your RFP or project milestones and measure your success against these objectives.”
More small business advice for you: The Business Tech That Helps SMBs Compete with Enterprise Companies
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