Why do organizations need a digital strategy?
Digital development of an organization has become an important part of an overall business strategy. In today’s world business technology no longer plays a supportive role in business processes. Rapid technological advancement and widespread availability of technology allows to organizations to completely change the way business interacts with its customers and employees, by providing services and business models that did not exist only few years ago.
It’s important to remember that digital strategy does not equal IT strategy. It’s because digital strategy covers not only the functional planning of supportive technology, but also pays much attention to the evaluation enabling technologies, to improvement of the digital customer experience, to the strengthening of data analysis role in the business decision making, and to the development of the necessary digital skills and competencies within organization.
Therefore a clearly defined digital strategy is a must for any organization that wants to have a sustainable and responsible growth.
Digital development planning for Kreiss
For the largest Latvian logistics services provides, Kreiss, we helped with definig a 3 year digital development plan, identifying what changes need to be made in the business processes, their priority, and the necessary technology solutions to help execute them. We also helped our customer to identify their current situation and the current level of technology used in the company, and to analyze and predict overall industry trends. Multiple development scenarios were mapped together with the most appropriate technology solutions and digital skills required to use them.
Enterprise Content Management (ECM)
In short, Enterprice Content Management is an ongoing and evolving strategy for maximizing how your content is to be used to achieve your business goals.
To be more specific, ECM is the systematic collection and organization of information that is to be used by a designated audience – business executives,employeees, customers, etc. Neither a single technology nor a methodology nor a process, it is a dynamic combination of strategies, methods, and tools used to capture, manage, store, preserve, and deliver information supporting key organizational processes through its entire lifecycle.
- Capture is essentially entering content into the system.
- Manage is what you do next to it, so it can be found and used by whomever it is intended for.
- Storing it means finding it an appropriate home in your infrastructure, be it a formal content management system or other information solution.
- Preserve refers to long-term care – archiving, if you will – the practice of protecting it so it can be utilized however far into the future the organization needs it to be available.
- And deliver is all about putting the information in the right people’s hands right when they need it to be there.
Enterprise Content Management is an umbrella term and may include and refer to any of the following terms or activities:
Document management, Invoice Management, Records management, Project management, Asset management, Personnel management, Customer life-cycle management, Product life-cycle management, Complaints management, Case management, Digitalization, Paperless office, GDPR compliance and many other.
Automation of document management and business processes for ABLV
We have been working with ABLV bank since 2008. During these 9 years we’ve executed multiple important projects. Initially we audited the document management process in the bank, and then proceeded to plan a company-wide enterprise content management (ECM) system, according to the functional and technical requirements of the customer. Digital Mind delivered, implemented and continues to maintain the OpenText Content Suite information management system that enables centralized, unified and comprehensive document and content management. E-archive, that is also based on this system and is fully integrated with other IT systems of the bank, enables ABLV to safely and fully digitally store and manage information about every customer. These solutions are currently used by over 850 employees in bank’s central office and remote offices in multiple countries.
AMBER BEVERAGE GROUP business process automation
While executing a multi-stage business process digitization project, Digital Mind delivered multiple solutions to our customer Amber Beverage Group (ABG). Business processes such as: Contract Management, Product Quality Management, New Product Development, Employee Evaluation, Internal Audit, Maintenance of the Normative Documents Database and others were fully or partly digitized and automated. These solutions based on OpenText Content Suite ECM system are currently actively used and deliver significant savings in both time and money in multiple companies of the ABG holding in all three Baltic States.
Every organization today generates data. Every document created, every contact with the customer, every transaction or even production line activity – it’s another data point among hundreds of thousands or even millions generated every day. By analyzing this data and identifying correlations it’s possible to gain better insight about key unique factors that determines successes or failures of every organization.
With the term “business analytics” we describe the methods, processes and tools involved in turning all kinds business data into actionable information. By utilizing the business analytics framework, you will be able to answer the following questions:
- What happened based on your organization’s historical data?
- Why it happened based on your outcomes?
- What is likely to happen based on predictive analysis?
- What must happen to ensure the best possible outcome for you business?
Business Analytics project involves both an analyst coming up with hypothesis, loking for correlations and building analytics models, as well as specialized software tools going through all collected information (e.g. structured and unstructured company data, historical reports and other information, 3rd party data) related to company’s operational activities as well as overall market activities. At the end of this process data that previously had little or no meaning is converted to meaningful insights that fuels evidence based executive decisions, leading to optimized business processes, reduced and increased revenue.
Business Analytics is an umbrella term and may include or refer to all of the following:
Business Intelligence, Financial Analytics, Risk Analytics, Data Analytics, Marketing Analytics, Web Analytics, Text Analytics, Social Network Analytics, Cognitive Analytics, Predictive Analytics, Sentiment Analytics, Statistical Analysis, Forecasting, Customer Behavior Analytics, Buying Habits Analytics, Customer Lifetime Value, Next Best Offer, Customer Churn Prediction, Optimization and many more.
Contact center optimization for LMT
Digital Mind executed a business analytics project for LMT, analyzing the efficiency of our customer’s contact center and looking to identify opportunities to improve the overall level of service. We used custom analytics models created by our analysts as well as IBM SPSS Modeller data discovery and analytics software. After this project our customer received data based suggestions on how to improve the resource planning in the contact center, optimize employee workload, prioritize customer requests, as well as how to increase the overall process productivity.