Project Synchrony Interactive Infographic (in progress) Business System Synchrony: A Key Component of Digital Transformation

Business System Synchrony:

by matthew e. johnson and todd wegener

A Key Component of Digital Transformation

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Data-Enabled Organizational Agility Companies that focus on collecting the right information, transforming it through analytics and using it to aid decision making can gain more valuable business intelligence that may allow them to improve performance and become more agile.

360-Degree Customer Insights Synchronized systems allow businesses to collect and access more and better data about their customers, providing a holistic understanding of key demographics, preferences and expectations. This, in turn, equips the organization to more effectively deliver on those needs.

Cross-Business Planning By synchronizing systems and broadening the scope of data management and integration, businesses enable more comprehensive enterprisewide planning that allows them to respond more proactively to shifting market realities.

Those businesses that do transform their digital strategies to embrace system synchrony can expect to experience the following benefits.

To avoid being unprepared, disrupted or even immobilized by inevitable market fluctuations, businesses must synchronize their core systems — enterprise resource planning (ERP), human capital management (HCM), customer relationship management (CRM) and enterprise performance management (EPM).

Customer Relationship Management (CRM)

Human Capital Management (HCM)

Enterprise Performance Management (EPM)

DIGITAL STRATEGY

Aligning and synchronizing business systems positions organizations to make strategic decisions and successfully navigate market disruption. To get there, business leaders should focus on four key areas.

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3. https://www.idc.com/getdoc

Sources

1. https://sloanreview.mit.edu/projects/the-new-leadership-playbook-for-the-digital-age/

2. https://fortune.com/2020/05/14/fortune-500-ceo-survey-coronavirus-pandemic-predictions/

Enterprise Resource Planning (ERP)

The marketplace is rapidly evolving. Sustainable success requires innovative thinking, seamless business processes and modern technology. Digital transformation — or technology-centered improvement — is helping businesses across industries modernize their infrastructures to meet new demands.

$1.8 trillion

Estimated global spending on digital transformation technologies in 2022³

75%

Percentage of CEOs who believe the pandemic has accelerated their companies’ digital transformation efforts²

Percentage of leaders who say their organizations are prepared to compete in digital markets¹

48%

Most of this progress is being made one stack at a time, but it’s the integration of these critical systems (i.e., business system synchrony) that unlocks agility and supports true enterprise performance management. To ensure technology stacks do not become siloed, leaders must confirm that intentional integration is accounted for in their larger digital strategy.

TRAINING

DATA

siloes

strategy

Include business systems integration in the organization’s larger digital strategy.

strategy

Break down siloes between functional areas and technology systems to encourage business synchrony.

siloes

Don’t neglect data translation. Remember that the data produced by synchronized systems is only as valuable as it is actionable.

DATA

Invest in staff training and development to help employees adapt to the digitization of their roles.

TRAINING

BY DAVID S. DUNCAN AND ALASDAIR TROTTER