Business transformation consulting insights to help companies adapt to new and innovative strategies

Business transformation is a significant part of organizational development. One of the most important rules for any business to remain successful is to reinvent themselves and adapt to changes on a continuous basis. Companies that understand this rule always remain on the competitive side by changing themselves according to the market scenario. In this, the people, process and technology are aligned in a way to meet the business vision and objectives. A change in the business model can be required because of many reasons. They could be emergence of digital technology that needs to be incorporated into business, social engagement and more efficient ways of computing. This change management strategy aims in adopting new and innovative strategies.

Group50 a leading business transformation consulting firm,  follows the practice which elevates the transformation game with experienced business transformation experts and IT consulting capabilities to speed implementation and value realization for their clients. Their engagement begins with an assessment, followed by more in depth workshops and project management to guide and drive implementation. They optimize operations, leverage innovation enabling technologies, and elevate the transformed process with embedded analytics and new innovative capabilities including artificial and or cognitive intelligence.

Business transformation can be categorized into two forms mainly:

Operational transformation

For this type of transformation, different ways of digital technology are utilized for bringing in operational efficiency. The processes are operated at a better, faster and cheaper pace.

Strategic transformation

In this strategic transformation, all the existing strategies are modified or completely changed and the newer ones are adopted. It is about changing the core or essence of the businesses.

It is commonly seen that middle market companies face many of the same challenges as large domestic and global companies driven to significantly change their business model. Businesses need to adapt more innovative ways to improve employee experiences, provide better customer service, increase revenue and higher market share.  With business transformation, all the processes get streamlined and organizations become more agile in adapting the changes in an easy and quick manner. The processes and activities are modified in order to meet the new business objectives. Unlike their larger competitors, middle market companies lack in resources for effectively planning and making business transformation changes. In such scenarios, they need to:

·         Re-invent and simplify business processes to remove complexity and uncover new efficiencies.

·         Improve business performance with data driven insights.

·         Infuse speed of execution and increase organizational agility to respond quickly to new opportunities and competitive threats.

·         Leverage new models of computing (cloud, software as a service, platform business services such as ERP, MRP, HRIS, CRM, etc.) to reduce cost of operations which are non-core to the business. The end result is to free up capital and human resources to focus on core aspects of the company to drive growth and profitability.

 Business transformation consulting services can surely help businesses carry out this strategy. They act as the management’s helpline and can provide valuable advice to the top and middle management of the organization. Business transformation is not a one-time process instead it is an ongoing process. Of course the consultants can start the ball rolling but after then it is the responsibility of the management and the company’s workforce to keep the pace and carry out the process successfully till the end. These consultants would bring a diverse set of experience and a higher level of skill set on board. They have carried out such projects before also and understand what it requires to make the process effective and successful. This is definitely one of the major reasons why companies seek business transformation consulting services.

To utilize your resources to the optimum level and taking your organization towards the road of business transformation, consult a renowned firm like Group50. They focus on various areas of business transformation and utilize over 50 assessments and workshops designed to provide a client’s leadership team with the appropriate insights to how their business operates and identifies the opportunities to significantly improve business performance. Their consultants have the resources and skills set that will enable them to make the entire transformation journey with their clients.     

For more information, talk to a Group50’s Business Transformation expert today!