Driving Cost Optimization in Your Business & IT Operations
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The webinar focused on driving cost optimization through digital transformation. It discussed defining a vision and prioritizing opportunities, high-impact strategies like automation and analytics, and real-world success stories. Challenges included skills gaps, budgets, and culture change. Questions focused on assessing opportunities, strengthening analytics, outsourcing, and accelerating automation. The keys to success emphasized partnerships, executive sponsorship, agility, measurement, and change management.
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More from Auxis Consulting & Outsourcing (20)
Driving Cost Optimization in Your Business & IT Operations
- 1. Driving Cost Optimization in Your Business & IT Operations WEBINAR Wednesday, June 7th 12:00pm EST How to Get the ROI from your Digital Transformation Investments Managing Director, Business Transformation Auxis Keith Sayewitz Sr. Managing Director, Digital Transformation Auxis Bill Woodford VP of Marketing Auxis Fabiana Corredor Sr. Managing Director, Finance Transformation & BPO Auxis Dan Day
- 2. Today’s discussion will focus on: • The role of digital transformation to achieve operational excellence and cost optimization • Main challenges preventing companies from achieving their Digital Transformation goals • The importance of defining your vision and how to identify and prioritize the right opportunities • Specific high-impact and fast-payback strategies to consider • Keys for an effective execution • Real-world success stories • Q&A
- 3. Benefit Categories OperationalExcellence Innovation Agile & Scalable Employee Satisfaction Insights & Analytics CustomerSatisfaction Digital Transformation is no longer a luxury, but a necessity for businesses to remain competitive and relevant "Four out of five CIOs are increasingdigitaltechnology investments to counter current economicpressures,including inflation,scarcetalent and supplyconstraints." -Gartner CIO Agenda 2023 Digital Transformation is the delivery of modernized processes and ways of working enabled by embedded digital technologies to drive value creation.
- 4. 4 But successful execution and delivery is easier said than done... Digital transformation journey is taking enterprises at least twice as long and costing twice as much as they originally anticipated - Source: Gartner 63% of organizations do not meet delivery deadlines for RPA/automation projects. - Source: Fortune/Deloitte 2022. Nearly half of CEOs named talent as the biggest challenge they face today. 3 out of 4 believe that a labor/skills shortage will be the top external disruptor of business strategy over the next 12 months. - Source: Fortune/Deloitte 2022. 70% of finance transformations don’t deliver on their forecast outcomes or cost objectives. -Source: Gartner 46% of CIOS report culture as the biggest barrier to change IDC predicts the global shortage of developers to increase from 1.4 million in 2021 to 4.0 million in 2025 - Source: Forbes
- 5. Digital skills gaps and insufficient budgets are the two main challenges holding back your digital transformation journeys Based on responses from today’s webinar registrants What are the main challengesholding back yourdigital transformation journey? In what areas are you more interestedin optimizingcosts? 25% 25% 32% 36% 50% Talent Shortage/Digital Skills Gap Insufficient Budgets No vision or Roadmap Opportunities No clear Business Case and ROI Other 20% 30% 43% 55% 57% IT Finance Other Back Office/ Front Office Customer Support HR
- 6. Polling Question #1 How would you rate your organization's progress in achieving operational excellence through digital transformation? Somewhat Successful Not Successful No results yet, or no successful Moderately Successful Highly Successful 7% 20% 60% 13% 0%
- 7. Defining Your Vision Identifying & Prioritizing the Right Opportunities
- 8. Charting The Path Towards Operational Excellence Define Vision & Goals Prioritize Opportunities Leverage Benchmarks Build Business Case Define Roadmap Measure Success
- 9. Key High-Impact & Fast-Payback Programs BusinessIntelligence & Analytics Intelligent Automation & Generative AI Outsourcing To Jumpstart Transformation
- 10. Polling Question #2 Have you started exploring the incorporation of generative AI tools such as ChatGPT as part of your Automation program? In the pipeline Piloting a use case Implementing multiple use cases already Currently researching Not yet 9% 64% 27% 0% 0%
- 11. Real-World Success Stories MedicalDeviceLeader Global Restaurant Franchisor Cloud & Tech Global Leader Challenge • Fast-growing healthcare and medical device provider looking to scale and absorb growth cost-effectively without adding headcount. • Repetitive, manual processes delaying the customer cycle and impacting customer satisfaction. • High employee turnover. • Global multi-brand franchisor with 6,400+ restaurants, cafes, juice bars, and bakeries in 55+ countries. • Rapid growth & pandemic travel restrictions broke the traditional operations support model for in-store visits to review Franchise adherence to brand standards and provide solutions to improve compliance and store performance. • Cloud infrastructure and business mobility leader with 37,000+ employees • Client has implemented one of the largest RPA & Intelligent Automation programs with over 420 processes deployed across 45+ business functions • Manual, time-consuming testing process • Frequent application changes outside the CoE’s control drove 60% of its RPA failures – risking frustration and loss of confidence from business users. Solution • Conducted a rapid Automation Vision & Opportunity Assessment across multiple departments (Finance, Customer Service, Revenue Cycle Management & Operations, etc.) that led to over 20 prioritized opportunities for automation, including: • Billing, Renewals & Cash App • Medical Insurance Prior Authorization & Recertification • Accounts Payable • Created a Customer Experience Center of Excellence in Costa Rica where brand coaches are trained to virtually coach store operators in their native language by leveraging a customized set of technologies, including video conferencing, scheduling and an audit platform. • Restaurant Analytics and a Franchisee Support Portal were created to monitor performance in-real-time and provide visibility to operating issues faced by the Franchisees. • Expanded the program to include POS Administration and IT Technical Support to all domestic stores • Implemented UiPath's Test Automation and integrated CI/CD pipeline for efficient automated testing. Results • Strong business case with a multi-year roadmap of opportunities that align to business goals • Improved customer satisfaction and increased revenue through faster cycle times and better service • Headcount efficiencies equivalent to millions of dollars • 2 to 3 times more store visits annually by incorporating virtual visits. • Eliminated the expense of physically traveling to the stores. • Franchisee satisfaction metrics of 97.80%+ • 96% error reduction • 15% faster production • Improved quality, customer experience, and proactive incident identification.
- 12. Polling Question #3 In which of the following strategies are you increasing your focus for balance of the year? (Select all that apply) Strengthening analytics Increasing use of shared services or outsourcing Status quo/ on hold pattern Accelerating current automation pipeline Assessing the opportunities/Building vision and roadmaps 0% 50% 17% 33% 0%
- 14. 1. 2. 3. 4. Build an effectivePartnerecosystem. Don't try to do it all on yourown. Ensure consistent executive sponsorshipto preserve momentum.Celebrate wins! Achieve agility throughreal-timecollaboration Continuouslymeasure progressand take actions to realize the businesscase Over-emphasizechange management & communication 5. Create a governance frameworkand rhythmto manage risks,escalations,and engage stakeholders 6. 7. Deliverincrementally,generating velocity with early wins Guiding Principles for Success A recent McKinsey study found a direct correlation between productivity and location model/closer time zones. -McKinsey – The True Drivers of Digital Delivery Performance
- 15. Q&A
- 16. Thank you for attending! Managing Director, Business Transformation Keith Sayewitz [email protected] Bill Woodford Sr. Managing Director, Digital Transformation [email protected] Dan Day Sr. Managing Director Finance Transformation & BPO [email protected] Fabiana Corredor VP of Marketing [email protected]
- 17. Relevant Resources How to Scale Automation Buy-in and Benefits Company-Wide Creating a Digital Transformation Roadmap that Drives Success Achieving Operational Excellence in Digital Transformation 3 Business Analytics Best PracticesYou Need to Know