The best known CEOs in the world are the ones who have created legends by dramatic transformations which leave us spellbound in awe. One has to simply imagine the impact on the business world created by people such as Steve Jobs, Jeff Bezos, Mark Zuckerberg, Bill Gates, Elon Musk, Jack Ma, Indra Nooyi, Richard Branson and so many others, thereby, changing the direction of their industry significantly. Such was the influence of their transformational journeys that they have all become subjects of case studies in several business schools all over the world.
Having said, there are enough and more stories of transformations within the business world that may not make to the books of business history. There is no denying the impact that such efforts have had on their companies and surrounding communities. For one, the need for transformation has moved out of front-end and main stream business to enterprise and staff functions. Many not-so-large companies have aspirations to rationalize and standardize their enterprise processes across their organization in order to realize efficiency benefits. Also in this almost unmerciful world, real competitive advantage could well come from their staff and support functions. Business leaders are well aware that having universal processes, common technology and strong capability can lead to consistent, repeatable, scalable, quality services.
Many large organizations have created shared services or ‘global in-house centers’ for business process transformation, while few others have ‘outsourced’ their processes to players specializing in their respective industries. And then, there are several models in between. However, that is easier said than done. Even transformation of this magnitude can be very difficult to undertake. Many mid-size companies usually lose out largely due to lack of scale or wherewithal – and usually both. Nevertheless, by adoption of a well thought out strategy, and by following a scientifically created delivery model specifically geared to this aspect, global professionalism can be achieved which can be comprehensive, all-encompassing, all-inclusive, and holistic.
In this edition of PE, we explore one such business transformation model which is both unique and innovative. It is a state-of-the-art processes management environment that encompasses the benefits of both in-house centers and outsourcing without compromising on flexibility or control. To further help the business process leaders, this edition also includes another process management model – a maturity matrix. This matrix is a very useful tool to assess the level of competence infused in the enterprise processes, on the road to professionalism and continuous value delivery.
Businesses are becoming more complex by the day – and digitization is tightening the loop even further. Some of the cutting edge technologies of today are making the tasks invisible to humans. Whether it is trading on the nano second or using an encrypted decentralized distributed ledger-based cryptocurrencies for payments and other transactions. Direct human intervention is becoming rare. Humans are interfacing with these technologies only at the strategy, design and control level. The execution level is far too fast and complex for the relatively sluggish human. The one thing we do know, however, is that to be able to counter the risk of technology ‘going rogue’, is technology itself.
While we wait for the next big story on global transformation, progressive business leaders are taking front and center to chalk out their own success stories. We at SSF are committed to help make that happen, whether by bring out executable business models, or sharing stories of demonstrated successes, or organizing discussion forums, conclaves and knowledge summits. Our forthcoming flagship annual conclave, the 8th in its series, is specifically geared to cover all the elements mentioned above – and more.
Table of Contents
COVER STORY
Innovating to Excel
CO-CREATING VALUE BY BUSINESS PROCESS TRANSFORMATION
Moving Towards Continuous Value Delivery Through Process Maturity
AN INNOVATIVE MODEL DESIGNED BY PRACTITIONERS FOR PRACTITIONERS
Calling the Attention of Financial Gatekeepers
THE GOOD AND BAD OF CRYPTOCURRENCIES
Cognitive Automation for Operational Risk Management
AI BASED PROCESS SURVEILLANCE IN TRADE LIFECYCLE
SSF Excellence Awards, Recognition and Felicitations
A CURTAIN RAISER
A Scientific Art & An Artistic Science
SIMPLIFYING BPM – OR THE LIGHTER SIDE OF SERIOUS BUSINESS
