10 Services Offered by Fingent to Prepare Your Business for the Future of Digital Innovation
- Robotic Process Automation
- Business Continuity Planning
- Contactless Services
- Custom LMS | eLearning
- Business Process Re-engineering
- Reality Technologies
- Data Analytics
- Internet of Things
- Mobile Technologies
- Cloud Computing
- Innovation beyond digital transformation
It’s been more than half a year since we started battling the global pandemic COVID-19. While it shows no sign of waning and continues to dwindle economies, business leaders are still exhibiting a streak of optimism. Thanks to digital technology and infrastructure!
The American management consulting firm McKinsey states that business executives expect profits and consumer demands to rise within the next six months. However, households across the globe have reduced their spending due to low income and savings. This poses a challenge for business sectors such as banking, retail, telecom, healthcare, and utilities. The organizations belonging to these sectors have to find new ways to support customers as well as preserve shareholder value in these ambivalent times.
In spite of several unsuccessful attempts to curb the virus spread, promising vaccine tests give us hope. The good news along with it is that businesses are managing to meet their urgent requirements and are optimistic for a time when all employees can return to work safely. Business leaders need to focus on supporting their employees by building up trust and providing clear communication.
If not anything, the pandemic has taught us the necessity of digital innovation and management. The business-as-usual approach is bound to fail in these difficult times. Business leaders have to make fast decisions, use technology in new and different ways to improve productivity and accelerate digital innovation. Organizations that embrace technology and new tools to reinvent business processes will see better results. This blog enlists 10 ways by which Fingent can help you re-engineer your business processes and overcome the challenges efficiently.
1. Robotic Process Automation
In light of what’s happening, the demand for automation has fundamentally increased simply because the business dynamics have changed in various industries. Since most employees have to work from home, repetitive and data-intensive processes could be handed over to Robotic Process Automation. Once employees are freed up from performing mundane tasks, they can concentrate on other important operations that require cognitive skills.
The payroll, onboarding and offboarding processes in HR can be automated using RPA technology. In the banking sector too, RPA bots can fasten activities such as loan application processing, account opening and make them error-free.
Fingent combines technologies like Machine Learning and AI with RPA to design smarter processes for businesses. Our focus is on utilizing RPA software bots to enhance the cost-effectiveness and efficiency of business processes. We help companies to automate business processes by identifying areas that require automation, deploy the most appropriate tools, and provide the necessary maintenance and support.
2. Business Continuity Planning
A business continuity plan is crucial to ensure the effective recovery of organizations from a disaster. From conducting virtual site inspections to document collaboration to human resources and payroll management, Business Continuity Planning helps keep track of all your crucial tasks.
Fingent utilizes a wide range of technological frameworks like SAP, AWS, Microsoft technologies, public cloud services, and custom software solutions to help you come up with a strong business continuity plan. Our Business Continuity Planning (BCP) services enable you to make faster decisions, reduce costs, and retain customers. We help you create and implement a sustainable business model that allows you to keep pace with the rising customer demands.
3. Contactless Services
COVID-19 has changed customer behavior w.r.t what and how they buy. This shift has given rise to a demand for contactless services. The demand for smart deliveries, self-service facilities, and other technologies such as QR codes, mobile payments, tap-and-go are expected to rise.
Maneuvering these challenging times may seem daunting. But Fingent can help you turn the tables with our innovation capabilities and technology consulting. We guide organizations to expand their existing set of offerings and capture new markets.
Fingent helps you bring your brick-and-mortar store online by developing highly responsive, secure, and scalable ecommerce CRM solutions, customize your existing application to integrate contactless payment features, configure new offers or discount codes and also helps you leverage AR/VR technologies that allow customers to view your project sites or prototypes.
4. Custom LMS Development | eLearning
According to a recent study, 42% of organizations in the US have increased their ROI through eLearning. Over 90% of students say that they prefer eLearning to classroom training- a trend created by the COVID-19 forced lockdowns. eLearning systems are highly beneficial in times of a global pandemic like COVID-19 to ensure uninterrupted learning.
Fingent helps schools, universities, colleges, educational institutions, NGOs, and training centers to develop customized LMS platforms that come with aptitude-based smart learning tools.
5. Business Process Re-engineering
Business process re-engineering involves the fundamental rethinking and redesigning of processes to achieve significant improvements in performance, efficiency, and alignment of processes with organizational strategy. Fingent’s BPR services enable enterprises to revamp existing business processes to improve productivity, quality, and cycle time, especially during a crisis.
Here’s the difference that Fingent’s BPR brings to your table:
- Re-engineer and optimize your processes from the ground up
- Eliminate redundant processes and enhance workflow efficiency
- Coordinate and integrate multiple functions/ teams quickly
Business process reengineering offers nearly all benefits- increased revenue, improved customer service, reduced cost, higher employee retention, faster processing time. Though the risks are considerable, the crisis presents an opportunity for your business to build resilience and reshape your future roadmap by leveraging BPR.
6. Reality Technologies
The latest advancements in Augmented Reality and Virtual Reality technologies are helping businesses explore new ways to reach customers and take their innovation efforts to the next level. Perkins Coie LLP reports healthcare and medical devices as one of the top potential growth areas for AR and VR technologies. Visual-based immersive learning experiences, virtual events and conferences, virtual showings and site tours, etc. ensure sustainability, safety, and remote collaboration.
Read our case study: The Future of Communication and Security Using Augmented Reality
7. Data Analytics
The COVID-19 pandemic has disrupted supply chains and has brought about dramatic changes in customer behavior. Given the current volatility, it is nearly impossible to track real-time changes in consumer mannerisms and aptly respond to them. Fingent offers Predictive Analytics from SAP as well as other data analytics solution providers that can help you detect hidden trends and make quick decisions.
Sectors such as healthcare, retail, sports, insurance use predictive analysis in various ways. Fingent’s data analytics services guide you towards increased ROI by turning data into valuable insights.
8. Internet of Things
Business executives believe that the disruption brought on by COVID-19 will cause an increase in the demand for IoT devices. Robust 5G networks are necessary to realize the power of IoT. Join forces with Fingent to leverage the benefits of IoT in your business. Gear up for IoT with our vast portfolio of technologies that can help you create new IoT processes and manage your devices. We provide customized IoT services to meet your unique business needs. Our cloud-based IoT data management solutions help you gather insights from your IoT data.
9. Mobile Technologies
As stay-at-home and social distancing are the new norms, mobile technologies can keep business running. At Fingent, we utilize leading mobile technologies to support businesses. Being scalable and secure, our mobile solutions deliver value to your customers.
So you want to build an app, but don’t know how to get on with it? While finding the right mobile app development company may seem an obvious answer, you first need to get your requirements on paper. Fingent offers a mobile app specification template that can help you define the scope and functionalities of your app. This erases ambiguity in the development process and keeps all stakeholders on the same page.
10. Cloud Computing
The Cloud has proved to be a lifesaver for businesses whose offices are closed and employees are scattered across various locations. Those who were skeptical of the Cloud are now changing their opinions and have come to benefit from the flexibility that it offers.
Fingent’s expertise in cloud architecture models has helped many organizations realize their goals. With our proficiency in various cloud platforms such as AWS, Microsoft Azure, IBM, and Google we aim to make organizations flexible and agile. We also provide cost-effective cloud application development solutions that can be easily implemented in your current infrastructure and tailored to suit user requirements.
Innovation beyond digital transformation
As the pandemic seems to gather strength, organizations scramble to find ways to keep business running. Business leaders have to prepare for recovery by supporting their staff, establishing effective communication, and balancing costs. If nothing else, these turbulent times have brought to light the significance of digital transformation. By resorting to innovative digital technologies like the ones mentioned above, businesses can reinvent themselves and keep going.
We at Fingent focus on supporting businesses by equipping them with these smart technologies to ensure business continuity. Leveraging smart technologies, Fingent can help you understand the pulse of your customers and make the necessary changes in your business models. It has become increasingly clear that given the serious health implications on people returning to work, creating a post-pandemic organization would take longer than earlier perceived. Companies have to seize this opportunity to build new capabilities like remote work environments, virtual collaboration, automation, eLearning, eCommerce, and so on.
Our business solutions have already helped various industrial sectors solve problems and eventually succeed. Fingent can help you capitalize on this opportunity to create a digital innovation strategy. Contact us to know more.
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Why Business Process Re-engineering is a Must-Have for Organizations
COVID-19 has knocked down businesses around the world. On the one hand, it had employees scrambling for cover as soon as the lockdown was announced, while on the other hand the ensuing panic substantially increased consumer demand. This has necessitated a huge shift in the way organizations manage their business. At this critical time, Business Process Re-Engineering (BPR) can assist organizations in maximizing customer value while minimizing the consumption of resources. Let us now discuss how BPR can help your organization handle a crisis like COVID-19.
What is Business Process Re-Engineering?
Business Jargons defines Business Process Re-engineering as the “analysis and redesign of core business processes to achieve substantial improvements in terms of performance, productivity, and quality.”
The crisis of COVID-19 is completely changing the business world and BPR can create drastic improvements and help organizations to free themselves from conventional approaches. BPR focuses on improving organizational operations enterprise-wide.
Related Reading: How Automation Ensures Businesses Stay Afloat During COVID-19 Crisis
Seven Amazing Benefits of Pre-Planned BPR
BPR is an important method that allows enterprises to revamp existing business processes to improve productivity, quality, and cycle time, especially during a crisis.
1. Outstanding customer satisfaction
“The customers’ perception is your reality.” – Kate Zabriskie, President, Business Training Works, Inc.
Panic driven buying has changed the customers’ needs. During this time, matching your organization’s services with customer expectations allows your business to build lifetime loyalties with your customers. BPR enables your enterprise to achieve this by re-designing your business process.
BPR strategically plans relevant activities to design, manufacture, and market a product that provides customer value. It analyzes value-creating activities and compares it with your organization’s competitors to find better ways to satisfy your customers.
2. HR management and health monitoring
All enterprises are concerned about the health, safety, and wellbeing of their employees. Post COVID-19, proactive management of employee health will include collecting important information and using it for health management. BPR can help the organization undertake major changes in the attendance recording system including mandatory temperature checks at workplaces. Large organizations will benefit from enhanced HRMS software to include such data, minimizing the risk of disease spread and work suspension.
Related Reading: SAP Payroll Compliance: Extending Support During COVID-19
3. Enhanced security features for remote working
4. Keep-up with the radical change in supply management
As global trade is under restrictions due to health, geopolitical and economic concerns, supply management will have to undergo a phenomenal change. This would include quality management, supplier collaboration, warehouse and logistics management, spare parts management, and shipment tracking. BPR will help your enterprise find scalable and adaptable solutions as your business experiences rapid changes in demand and complexity.
5. Skilled service operations
COVID-19 has created a reduced dependence on human travel and physical presence bringing in a massive change in service management. Organizations will have to increasingly rely on IoT and AI for remote monitoring operations, fault detection, and auto-correction. With BPR optimization, enterprises will be able to re-design highly complicated and skilled service operations resulting in much higher productivity and less reliance on service experts.
6. Digital signatures
Thus far, digital signatures and validations have been adopted for compliance or security checks. But now, constraints on the handling of printed documents and remote working have necessitated increased use of digital signatures. Optimization of BPR will help bring in process and software alignment across the organization ensuring security while overcoming the hurdles involved.
7. Lower commercial space requirement
The transition to remote working will drastically reduce the need for commercial space. If your organization wants to bring about this change, there would be substantial value generation for your stakeholders. This could result in reduced rental expenses and increased free spaces. BPR optimization in seat utilization could bring higher productivity. The rostering and office locations of the employees could be done in a way that maximizes space utilization.
Related Reading: Optimize Workforce Management with SAP SuccessFactors and Qualtrics
Use BPR Optimization to Handle Any Future Crisis
No one knows what the future will bring. But we can learn from the COVID-19 crisis and act smarter and strengthen the global supply chain by benefiting from Business Process Re-engineering. BPR optimization can revamp your organization to leverage the power of AI and other emerging technologies equipping you to maintain business continuity amid uncertainty and disruption.
BPR will help you reassess your sourcing strategy and rebuild your supplier network. Your organization will be able to find the balance between the level of risk you can accommodate and the amount of operational flexibility you want to achieve.
Working from home would require a huge emotional and cultural shift. Hence, this is the time for enterprises to revisit your strategies. There is a huge value in optimizing BPR to make the shift now so that you and your employees can look towards the future with a smile on your face. With all these benefits in store, why wait to get started on BPR? Give us a call and let’s discuss how we can get this working for you.