4 ways innovative companies can navigate digital transformation
From the tight global labour market to social and political volatility, macroeconomic headwinds continue to hamper business growth. Such a complex environment is anything but smooth. Your organisation may be feeling pressure to deliver on initiatives to support talent, products and services and business operations.
Finding success in these areas requires digital transformation. Innovative companies are best positioned to prosper and thrive.
Becoming an innovative company
What does an innovative company actually do? For one thing, it enables continuous change from anywhere, blurring the line between experimentation and expectation.
It's also at the forefront of technological development, paving the way for others in the industry to follow. An innovative company is full of driven, pioneering people who uncover new opportunities behind every app, process and experience. These leaders see failure as a trade-off for greater success.
Even innovative companies are burdened with the realities of tough times: unengaged and unempowered employees, fragmented data and limited time and resources.
The way forward is to make your organisation change-capable every day through continuous transformation. That means investing in digital innovations that connect your people, processes and systems. And that starts with a platform strategy that can help:
- Reduce operating costs
- Increase productivity
- Minimise risk
- Deliver full value from previous investments
Here are four technology imperatives for innovative companies:
1. Eliminate silos
To keep your enterprise productive and ahead of the competition, you can't afford inefficiency, reactive fire drills or high operational costs in delivering technology services.
You must eliminate silos between IT service and operations teams teams so they can quickly address IT issues and prevent outages. To achieve this, you need to modernise, automate and optimise the workflows between these teams. That means connecting data they can both access on a single platform—so they can get visibility and collaborate to deliver great outcomes every day.
A unified technology service operations approach does more than delight employees and enable constant IT service availability. It also frees your teams—and anyone in the organisation—to devote more of their time and talents to business-building change. A satisfying work environment that empowers anyone to innovate leads to higher employee engagement and retention.
2. Get the greatest value from IT
Technology leaders need to translate strategy into outcomes that drive business value to keep their seats at the table. Strategic portfolio management enables organisations to prioritise and fund what matters most, build a roadmap to strategise past and new investments, communicate plans and track progress.
It also lets teams plan and deliver work using any methodology: traditional (waterfall), Agile or hybrid. With ServiceNow Strategic Portfolio Management, enterprises can reduce nonproductive investment spending by more than $10 million and achieve a 365% return on investment over a three-year period.
3. Cut costs with connected IT asset management
Managing any IT asset (software, hardware, cloud, apps), whether it's stored on premises or in a hybrid cloud, requires total visibility. With comprehensive IT asset management, you can plan, operate, service, secure and retire IT—managing everything from the same place.
By connecting multiple departments on a single platform and automating the end-to-end IT asset lifecycle, you can rein in your IT budget and meet compliance obligations.
With a modern IT asset management solution, an enterprise can save up to 67% on the cost of software licence true-ups and reduce noncompliance incidents by up to 70%.
4. Accelerate cloud adoption
It's a struggle to scale cloud initiatives with the same security, cost, resilience and risk management you would use for on-premises infrastructure. Process challenges, business misalignment, limited software planning, lack of IT visibility and inadequate governance models can impede your journey to a cloud-first operating model and its benefits.
With a unified IT platform, you can maximise interoperability, visibility and agility to speed adoption, modernise architecture and reduce costs. To get rapid return on investment in your cloud initiatives, you’ll want to:
- Prioritise applications based on business impact, cost savings or technology risk.
- Use self-service automation for request, incident and change management processes.
- Operate cloud services resiliently with AIOps, even when the mix of on-premises and cloud is constantly changing.
You can get through the ups and downs with a strong technology partner by your side.
At ServiceNow, we're curious and hungry to know what's next. That's why we’re constantly evolving to meet the needs of our customers, with a platform that can adapt quickly as market conditions change. Together, we'll innovate and adapt—even through uncertain times—to help you achieve digital transformation and be ready for tomorrow.
Get more tips in our ebook: 4 ways to get your digital transformation back on track.