Doculab's Insights #2
AI for business results; big banks, and Bayer, focus on digital transformation; plus another cybersecurity gap.
One constant around intelligent automation – and any technology really – is the need to always remember that there is no silver bullet. There’s no piece of software or code that’s going to fix a bad business process or automatically work. For that, you need people. That’s why we think the interview with Bayer’s Bijoy Sagar is interesting. He barely touches on technology other than as needed infrastructure. It’s the culture and people that are underpinning their successful digital transformation.
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3 Ways AI Helps Organizations Achieve Better Business Results
Bijoy Sagar on Driving Digital Transformation at Bayer and Beyond
Remote Working Creates Data Vulnerability Gap
Big Banks Remain Focused on Transformation Efforts, Process Excellence in 2023
How Root Cause Analysis Gives You a Leg Up in Accounts Receivable
3 Ways AI Helps Organizations Achieve Better Business Results
Artificial intelligence can help organizations:
Be more customer obsessed
Help prove people’s identify
Get better business results faster
Read on for more details on each point.
Bijoy Sagar on Driving Digital Transformation at Bayer and Beyond
This interview offers a variety of excellent suggestions for what any organization needs to do to implement (and continue to implement) digital transformation initiatives. It’s also a good reminder that these initiatives succeed, or don’t, because of people – not the technology. From the interview:
“Q: What was your playbook for developing these digital businesses?
Sagar: The first was getting our leadership to speak the same digital language. We partnered with a business school to take our leaders through a three-week course, so that we could have productive, collaborative discussions about digital risk and opportunity. That was playbook rule number one, and it took some time.” See more on Bayer’s Digital Transformation.
Remote Working Creates Data Vulnerability Gap
I mention security frequently in his newsletter because the dangers are real. Organizations need to remember that, as intelligent automation tools make remote work more viable than ever, securing content is essential. “Arcserve has announced findings from its annual independent global research study showing UK businesses are overlooking remote working in their data backup and recovery plans. The report finds that many organisations fail to ensure operational compliance and business continuity when faced with fragmented data and dispersed technologies.” Read more here.
Big Banks Remain Focused on Transformation Efforts, Process Excellence in 2023
Here's a look at some of the big themes that have emerged during bank earnings conference calls.
Efficiency, productivity, and process excellence work continues. Citigroup CEO Jane Fraser said on the company's earnings conference call that the financial services giant is focused on automation, data and process excellence. "We are streamlining our processes and making them more automated whilst improving the quality and accessibility of our data. This will make us a better bank," said Fraser. More on banks and transformation.
How Root Cause Analysis Gives You a Leg Up in Accounts Receivable
Most companies are good at responding to late payments on a case-by-case basis, working with customers to understand why their payment is overdue and what can be done to resolve the issue. The problem is that this approach is a bit like trimming the leaves of a weed. You may make it look smaller, but if the roots are still firmly in place, the problem will remain.
Root cause analysis addresses the core of the issue, helping your organization understand the systemic problems that are causing late payments and delinquent accounts. Get a leg up.
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Photo Credits
Number 3 Photo by Tony Hand on Unsplash
Scrabble Tiles Photo by Brett Jordan on Unsplash
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