Optimizing digital transformation value has been saved
Article
Optimizing digital transformation value
Using process bionics in concert with change management to capture more value from digital investments
Your business has hundreds of processes with perhaps thousands of variations per process, and they’re all driven by a combination of humans and technology. If your organization is like most, there are subtle, possibly hidden, errors that can create a ripple effect across these processes that silently erodes your bottom line. How can you uncover them? And, once they’re identified, how can you remedy errors quickly and ensure that your fixes create continuous value?
Accelerate value to optimize ROI
There’s a lot at stake. Companies invest heavily in IT to enhance processes and efficiency, with the global digital market for IT spending projected to reach $8.9 trillion by 2030.1 Yet more than 70% of digital transformations struggle to meet business objectives,2 with less than 25% of revenue and cost targets realized.3
With so much at risk, it’s critical to know where to focus to optimize return on investment (ROI) in digital transformation. The answer lies in a two-pronged approach that can help accelerate continuous value creation:
- Process bionics, which expands the practice of process mining into a holistic digital management approach to uncover and evaluate the cost of inefficiencies.
- Change management and digital adoption toolsets, which can help drive behavior change and optimize processes.
Value at speed
Leveraging process bionics effectively involves coupling it with practical change management strategies to accelerate value creation from end-to-end processes.
Looking forward: You get what you measure
Continuous value generation means process optimization is not “one and done.” There are too many variables, both technological and human, to stand pat. Instead, it’s essential to develop ROI metrics that mirror the business strategy and priorities and that are part of a business dashboard that can identify opportunities for continued value realization.
Further, a centralized control tower or center of excellence should monitor the business dashboard to continuously prioritize high-value opportunities and ensure tactical change management interventions are deployed to achieve ROI. Looking forward, the path will be gradual but well worth the effort. Some steps will be incremental, while others could reshape the organization’s future. Finally, as with any effort, success will depend on business and technology sponsorship, data availability, and buy-in from process owners.
Endnotes:
1Fortune Business Insights, Digital transformation market report, April 2023.
2Billy Riordan, “Why transformations fail and how they can succeed with people power,” October 11, 2021.
3Erica Lamarre et al., “The value of digital transformation,” Harvard Business Review, July 31, 2023.
4Harsh Singh and Amy Loomis, “Business value of WalkMe,” IDC, 2023.
Get in touch
Contributors
Aditi Patel, manager, Deloitte Consulting LLP; Aksshit Malhottra, manager, Deloitte Consulting LLP; Conor MacDermotRoe, senior consultant, Deloitte Consulting LLP; Courtney Thayer, principal, Deloitte Consulting LLP; John Prescott, senior manager, Deloitte Consulting LLP, Nancy Vosburgh, manager, Deloitte Consulting LLP, Paige Parent, senior consultant, Deloitte Consulting LLP
Recommendations
Deloitte’s Center for Process Bionics
Operations process transformation for greater business value
Strategic Change Management Services
Putting humans at the center of change
