Digitalisation is a reality that all companies have to face up to. But realising it’s the way to go and actually going there are two different things, with a long transformation inbetween. Kathy Gibson attended SAPInsider in Vienna and found out more about how to achieve digitalisation goals
Do or die in the digitalisation age
McKinsey tells us that, in just 11 years’ time, 75% of businesses won’t be around in the format they are now.
Digital transformation is both the main threat to organisations; and the solution they need to embrace in order to survive over the next decade.
In fact, digital transformation is a difficult concept, but every organisation in the world has to start embracing it.
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Making data governance easier to do
As businesses shift to digitalisation, data has a more important role to play than ever.
Today, business decisions are being made on the fly, and these are often automated and based on data that is assumed to be accurate.
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Embrace agility to beat shadow IT
Shadow IT has been a massive concern for CIOs for some years now – but so far, no-one has come up with any solutions to effectively address the issue.
The real problem, of course, is that so often third-party cloud-based apps offer the speed and flexibility that the solutions offered by IT simply don’t match up to.
These apps, however, can expose sensitive corporate data in the cloud and potentially create huge security and governance issues.
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New threats drive expanded GRC role
The governance, risk and compliance (GRC) landscape brings unique challenges to a diverse range of end user customers.
These include increased regulatory compliance; changing economic and political conditions; pressure on performance and profitability; disruptive innovation and technology; and cyber security attacks.
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HR key in business transformation
Business transformation relies heavily for its success on human resources (HR), and HR departments are increasingly leaning on technology to help them deliver on their mandate.
A KPMG annual survey, which polled almost 1 000 companies in 37 countries, found that 40% of companies are looking to change their HR structure this year.
A massive 88% of companies plan to keep their HR technology spend the same, or spend more in the coming months.
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A new role for finance in the digital world
In the new world of digitalisation, the systems traditionally associated with finance are not the only ones relevant to the finance role.
Digital finance is about creating realtime continuous processes with no manual process or media breaks.
In addition, there will be full transparency of all information accessible to everyone in the moment.
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Algorithmic analysis drives innovation
Sometimes innovation can come from the most unexpected places – but organisations might not stumble across it without the help of data analytics.
Jayne Landry, global vice-president and GM at SAP Business Intelligence, cites the example of a hospital group grappling with the mystery of why the cost for a specific surgical procedure varied so drastically from one operation to another, and eventually found the answer through a combination of analytics and human ingenuity.
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How ArcelorMittal consolidated reporting
Using business intelligence has helped ArcelorMittal improve its financial performance, while saving it both time and money.
ArcelorMittal is the world’s largest steel producer, with an industrial presence in 20 countries. Arcelor and Mittal merged in August 2006 – and both of them were the result of many mergers.
As a consequence, the IT landscape was very heterogeneous while the reporting and consolidation tools were varied.
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