CREATING THE BACK OFFICE YOU NEED TO SUPPORT YOUR GROWTH ENGINE
Your front office is only as good as the back-office's capabilities that provide support for these critical functions. Have you experienced any of these back-office challenges?
- It takes much too long to get KPI results and it’s not what is needed to drive decision-making
- Front-line sales and service teams need better technology to sell more and improve delivery
- Back-office processes are run manually in spreadsheets
Closing the books each month is very labor-intensive and far too time-consuming
- Many people are doing the same manual work each month
- Outdated systems don’t integrate well with customers' and vendors' systems; updating or replacing is thought to be too expensive and time-consuming
- IT functions are far too decentralized and unwieldy
- A system implementation that is not going well
A lack of comprehensive and concise performance management metrics, coupled with underinvestment in automation to streamline operating processes, often hinders companies in high-growth mode.
AUTOMATING THE BACK OFFICE-RAPIDLY
Technology can transform the way your back-office functions in a matter of weeks, not years. AI-enabled business intelligence (BI) and automation lead to real-time reporting of KPIs that allow you to make the critical decisions needed to drive your customer-facing functions more effectively. Automation of clerical functions creates efficiencies, improves accuracy and allows your team to spend their time working smarter.
Our article series illustrates ways you can rapidly and affordably set your company on course for a digital future by quickly establishing technologies that support better customer experiences and dramatically improve operations.
Learn more about Rapid Back Office Technology Solutions to understand how to quickly become Future Ready in a business world that requires operating digitally to sell more at higher profits.
Enabling technologies and services:
- Business Intelligence: comprehensive reporting and dashboards across the business
- Cloud Infrastructure: development of cloud-based architecture for new applications or migration of existing applications
- Data Lakes: API-enabled data integration and transformation to multi-purpose digital platforms
- Custom Applications: data management, predictive models and automation solutions
- Software Strategy: technology roadmaps for functional requirements and future state goals
- ERP: business requirements, design, software selection and implementation management
- CRM: customer data analytics driven CRM technology design and implementation
WHY DIGITAL MATTERS NOW
The road to Future Ready
Most business leaders understand the why of digital transformation: the greater a company’s digital capabilities, the better the company will perform. According to joint research conducted by AlixPartners and the MIT Center for Information Systems Research (CISR) in 2017, digitally transformed companies are more profitable and valuable than their industry peers. Recent MIT CISR research and interviews in 2020 confirm the findings: these companies are even more profitable now.
The how is another matter altogether. To touch on the how, such companies, which we call Future Ready, are distinguished from their less digitally advanced rivals by the presence of comprehensive underlying data platforms. These powerful platforms collectively manage all data and digital capabilities that enable both strong customer experience and operations excellence.
By contrast, traditionally run organizations that use old-fashioned, silos-and-spaghetti business models come up short in both categories. Now more than ever, it is critical that companies become digitally mature to compete effectively. Many business leaders are ready to put their companies on the path to digital maturity but are unsure where – or how – to begin. Drawing on AlixPartners' extensive transformation experience, our experts offer insight on the steps companies can take to provide a better customer experience and more effectively manage operations on the road to Future Ready.
GETTING A RAPID START ON THE PATH TO FUTURE READY
Today's most successful businesses have an underlying digital platform that aggregates all information about their business in one central location. Our experts show how companies can utilize Common Data Models to improve their performance and better understand what activities make money and which ones don’t.
Transforming the back office
Learn how companies in a variety of industries have used data and analytics to improve their business performance
Technology has moved from back of business, to underneath business, to being the business. Our Technology & Digital practice pioneers strategies for companies to improve revenue growth and operational efficiency.