DIGITAL DISRUPTION
(Part 1 of 4)
IMSS offerings to reduce costs and improve cash flows
Our business focused interventions are aligned to enable enterprises reduce costs that will help maintain profitability, even in the most challenging times.
- cloud cost optimization
- cloud migration readiness
- intelligent RPA
- modernize integration landscape
- reimagining application portfolio management
- reduce tech debt, rationalize apps and aim for higher ROI
- remote working – data privacy and asset security
- data based decisions – simplified data orchestration, democratized data science and integration with industry solutions
Enterprises tend to approach their finance processes mainly based on ROI with focus on transactions
Digital transformation of transactional processes is merely a starting point of the digital maturity of an enterprise. Companies tend to target low-hanging fruits in transactional processes with their digital initiatives. But, beyond transactional processes, companies can achieve more value with digital performance management.
From reducing late payments to creating proposals, companies can help sustain their business by using digital transformation initiatives and stay on top of their cash flow.
Digital technologies have enabled small and medium enterprises without access to large finance team setups to employ clevel collaborative tools to drive efficiencies and save on costs. It has played an integral role in aiding cash flow for many companies without the traditional setup of large finance teams.
Cost Reduction
for a consumer goods company, when they were launching a new product in India, for example, their data enabled targeted advertisements that cost one-fifth the normal price for the same brand-awareness impact. Beyond awareness, this renewed scale has helped the company launch brands about 50% faster than it used to.
But understanding the financial impact of digital transformation is not as as straightforward as it may seem. The broader industry trends must be considered at a macro-level to see if the competitors and peers are launching the same initiatives – in which case, the cost reductions could be minimal as the benifits get passed on to your customers.
But at the same time, even in such scenario, the digital initiatives are extremely or even more important. Becase, if your company do not roll out these digital measures, your products and services will stay expensive compared to your peers there by declining your cash flows.
Newer Revenue Sources
For example telcos have been poor at utilizing their deep knowledge of their customer base and consumer behaviours. But content providers who provide digital content to telcos and their subscribers took advantage of this data and in some cases even outgrew telcos – the very backbone on which they built their businesses on.
Some telcos did respond by changing their offerings mix, took advantage of the horizontal opportunity for operators to deploy many of the digital services that third-party companies offer on their platforms, such as connectivity, voice, M2M and smart home services. This helped these operators continue diving demand and revenue from the same subscribers their already have and create traction for new value-added services. In some scenarios over 20% – 50% of revenues come from these non-traditional services.
By identifying key areas for digital transformation and incorporating customer feedback, companies are looking at a gamut of new and future-proof revenue streams.
Fixing strained cash flows
One of the critical economic challenges posed by the ongoing pandemic to enterprises is maintaining cash flow during a disrupted market. Moving to digital payment systems can help businesses—including buyers and sellers— efficiently face the storm and improve their cash flows.
A recent research finds that 43% of invoices across the U.S., Mexico, and Canada remained unpaid post their due date. This is a 25% increase from 2020.
Enterprises that have been reluctant to implement digital initiatives in their payment and financial processes must do so now. The reality is, digitization benefits all stakeholders, including suppliers who risk entire payments during the duration of the invoice remains unpaid, and buyers who are given greater transparency into their spending. So because of these challenges—many enterprises are finally ready to execute digital transformation initiatives and embrace digital solutions that not only make it easier for them to get paid more quickly, but creates better customer experiences for their buyers.
Disruptive Impact with IMSS Digital Garage
IMSS Digital Garage helps customers navigate digital disruption effectively by facilitating 2x faster time to market, 75% reduced solution design time and 33% improved cultural readiness. Learn more about IMSS Disruptive Services at imss.co.in/disrupt/.
More ways to Disrupt
To gain and sustain competitive advantage in the post-pandemic world, enterprises need to trigger disruption and permanent changes in both business practices and workforce expectations.
Customers expect not just superior experiences, but experiences that align to the present needs and are empathy driven. Our data-driven CX interventions help enterprise to better understand their customer journeys and provide experience that exceed expectations.
Most business models have changed overnight, to meet evolved business environment and customer expectations. Our technology interventions enable enterprises to get the agility in not only effectively managing their business, but also quickly adapt to the changes necessitated by the evolving business environment expectations.
Companies must find a way to not just survive but also put themselves in the best position to thrive later. Our business focused interventions are aligned to enable enterprises reduce costs that will help maintain profitability, even in the most challenging times.
Redesigning employee productivity for remote and hybrid work environments, Our workspace interventions help you adapt and evolve for enterprise-wide efficiency while also focusing on finer aspects such as employee engagement, professional development and growth.
