For example, a BPO company that only handles voice accounts should explore new technologies, such as big data and analytics, to expand its services. However, the company must also reskill their employees in order to deliver this new service. "You need to retool or reskill yourself and your employees to provide higher value services. [Organisations need] to embrace disruptive technologies rather than resisting them," he added.
A recent study by Information Services Group (ISG) - a global technology research and advisory firm - found that leveraging RPA enables companies to complete a business process five to 10 times faster. This allows human workers to focus on higher-value activities.
"While in the past humans have been supported by technology, we are now seeing a shift to technology being supported by humans to manage and operate business processes. This shift is eliminating much of the mundane cut-paste-and-compare work that humans manage in the cracks between enterprise systems," ISG partner Craig Nelson told CIO.
Preparing for the dawn of DX Economy
IDC predicts that businesses in the Philippines will level up their digital transformation initiatives to the macroeconomic scale in the next three to four years, thus signalling the dawn of the DX Economy.
Alberto offered the following tips to help businesses prepare for the dawn of the DX Economy.
- Accept that DX is here
"You have to [first] accept that DX is here. Only when you accept it can you do certain preparations around it," said Alberto.
- Understand your customer base and competition environment
As part of their preparations, businesses must understand their customer base, which can be better achieved by leveraging big data and analytics. After which, they can look at what competition they are currently facing," said Alberto.
He added that the rise of digital disruption and innovation has changed the competition landscape. For instance, he said hotels nowadays not only compete with other hotels, but also with other properties offering accommodation as a result of the emergence of online booking platforms.
- Build partnerships
For businesses that do not want to develop their own applications, Alberto advised building partnerships to expand the reach of their products and services.
Case in point, when beep cards was launched in 2015, they can only be used to pay fares for LRT 1, LRT 2, and MRT 3. By partnering other businesses, the cards can now be used on some buses and in convenience stores across the country.
- Follow the five pillars of DX
Lastly, Alberto advised businesses to follow the five pillars of digital transformation. This includes: driving innovation, reviewing operating model, reviewing the use of data in the organisation, reviewing how the business engage with customers, and reviewing the company's talent acceleration initiatives.
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