WHAT IS IT?
If you are looking to increase your compny’s overall performance by reducing costs, increasing productivity, speed up work, increase profits, Business Process Transformation is something you must embark on. Business Process Transformation sounds like a huge word but really, it is simply about looking at your current business processes (the way you currently do things) and then integrating technology to help to make your current work flow simpler, more efficient and reduce manual labour.
IS IT APPLICABLE TO MY BUSINESS?
Business Process Transformation, whilst sounding very complex, is a necessary step that any company who seeks to equip themselves for an AI powered business environment. In fact the question is; “Have you started to explore steps to prepare your company to thrive as the economy increasingly leverages technology”?
WHAT BENEFITS WILL MY BUSINESS ENJOY THROUGH THIS BUSINESS PROCESS TRANSFORMATION?
Make Your business more Efficient
Transforming your business to make it ready for an AI future involves not only adopting technology but rather, it is about making technology help simply your work processes and making it more efficient.
- Automate Repetitive Tasks
- Integrate your work processes with your sales, accounting, inventory, warehouse systems, logistics and marketing so data is shared across all systems
- Reduce human errors
- Measure performance
Uplift your workforce
Transforming your business to leverage technology does not mean you make your current workforce redundant. Rather it takes away the manual tasks to allow your team to focus on more value-added work, leading to upgrading of skills. Producing more creates the opportunity to make more sales, which in turn offers the potential to increase profits. Higher productivity can increase a company’s profit margin in addition to raising total profits
Increased productivity means your company can produce more without increasing costs
- Reducing errors means quicker accurate delivery of work
- Being able to measure results will make workforce more conscious and receive feedback of data driven performance measurements.
- Automated processes mean essential steps are not missed out
- Lower operational costs
- Reduce Waste
How much will it cost to Transform my business?
This really depends on the extent of transformation and the areas you feel need improvement.
You can take baby steps and start by improving a few areas, or simultaneously implement change across your company. The associated costs can start from under $1500.
Are there grants available to assist us with implementing this initiative?
Grants may be available but varies from country to country. If you are a Singapore company, there are relevant grants available from Enterprise Singapore but qualifying for the grant is subject to the terms governing the grant. You can find out more about the grant here.