Technology enabled business transformation

To better withstand the constant changes, many companies today are transforming their processes, systems and general business approaches. For many companies, greater insight, stronger control and access to more up-to-date information are all becoming increasingly important. In an ever-changing business environment, it’s essential to continuously evaluate and improve the value of existing processes and systems.

"Every organization in any sector benefits from thoroughly investigating its activities and accelerating existing processes or making them more effective by deploying technological solutions," says Benjamin De Brabander, Technology Advisor Director at KPMG. “Technology is no longer a supporting element in this, but rather a strategic tool that can deliver a lot of extra value. Technological innovations are now an integral part of any organization's success.”

"The latest technological advances are too radical to be ignored if a company wants to be resilient in the long term," explains De Brabander. "However, it's about much more than just technology. It's about people, optimization and adaptability. The thorough transformation of an organization using digital technology must ensure complete process improvement as well as higher efficiency".

After all, technology provides better insight into processes and data, which leads to better choices in all areas of business operations. In addition, technology can help to control excessive costs by optimizing costly processes, yet many companies today still have to contend with outdated technology and systems. Clever investment in technological innovation can deliver the speed and agility required in today's world, while reducing the risk of process interruptions or cyber-attacks.

De Brabander refers to the ongoing COVID-19 situation. Technology has proven to be indispensable to business continuity during the pandemic. Companies switched en masse to technological solutions to keep their organizations alive. In particular, efficiency within the value chain is of great importance and this is where technological tools can really make a difference. For example, by implementing an enterprise resource planning (ERP) system, companies can digitize processes such as warehousing, product management or procurement, increasing their efficiency and value. "COVID-19 has significantly accelerated this trend. For many organizations, technological innovation is no longer a nice extra, but a top priority. Companies in which technology had previously been given a major role are also clearly reaping the benefits in this crisis period," says De Brabander.

Investing in technological solutions is crucial to remain relevant and agile in these turbulent times. However, it’s not always easy to determine which technologies are worth investing in. The range of technological solutions on offer can be overwhelming; just think of all the different types of cloud services, ERP systems, robotics or artificial intelligence (AI) that are available. It’s especially important to choose technological solutions that create the most business value in the short and long term.

"Far-reaching business transformation of high-impact processes is often a major stumbling block for companies," says De Brabander. "All too often, we notice that such projects fail, as many companies don't know where to start. A good methodology is essential. KPMG's Technology-enabled Business Transformation solution investigates which processes can be optimally supported by technology. In doing so, we first and foremost align our ideas with the existing business strategy. We then work out a complete process optimization based on our Powered Enterprise methodology. In this methodology, our models are always based on leading KPMG practices resulting from our many years of experience with organizations of different sizes in different sectors".

According to De Brabander, KPMG wants to take organizations to a higher level of maturity through a transformation process that makes them more independent. "We do this by integrating as much knowledge as possible into the organization. KPMG brings different specialists together in international, multidisciplinary teams to be able to offer a complete transformational solution. KPMG's in-depth industry and process knowledge, combined with a strong focus on risk and change management, can help organizations achieve sustainable change and drive lasting value".

De Brabander cites two advantages of technology-enabled business transformation that many organizations may not immediately realize. A first advantage is the increased flexibility of the organization and especially the 'scalability' that comes from leveraging technological solutions.
De Brabander explicitly refers to the cloud in this regard: "A cloud solution ensures that IT implementations can be quickly adapted to an organization's changing needs, without the organization having to constantly tinker with their infrastructure".

Even in the current uncertain economic situation, technological solutions can offer solace to many companies. "Companies that suddenly see a drastic drop in production, or companies in which employees suddenly had to work entirely from home, recognize that the flexibility and scalability of activities needs to be reconsidered. A transformation to the cloud is a very good first step," adds De Brabander.

Meanwhile, choosing the right tech-enabled solutions creates a mutually beneficial situation for both employer and employee. Leveraging technology allows a more effective way of working, providing more data and higher quality insights, which helps employees to make better decisions.

In addition, the use of technological solutions increases the creativity of employees within organizations. By automating routine tasks, employees can focus more on problem-solving or variable tasks. After a thorough optimization of existing processes, employees then have much more time and bandwidth to create real value for the organization.

Ultimately, having more time to be creative not only increases the appreciation and participation of employees, but also ensures sustainable growth for the company through in-house innovation and R&D. It’s a win-win investment.