Going Digital is Simple
Going digital is simple – but simple has never been easy. We have taken two decades of experience and learning to distil and offer a best practice approach that makes digital contracting seem simple.
The six concepts to consider
The essence of an organisation is reflected in the contracts that they enter into
Sales contracts, partnerships, supply chain, leases, staff, every obligation and commitment an organisation has resides in a contract somewhere.
Data is the new oil
Customer information, supply chain, revenue and costs, all data that originates from the time of negotiation and reflected in the agreements reached.
The customer experience
The World is changing, everyone talks of being customer-centric, yet many organisations put their customers through tortuous manual processes, often demanding time -wasting visits to branches or offices. The new generation is well versed and expecting a digital interface with the organisation. They also expect the organisation to know who they are, and be valued.
The efficient, automated back office
Quality structured data flowing from the original source of the engagements, into the back-office systems. Contract obligations visible to those who need them, structure and process governing who does what and when. Automated contract drafting, approval workflow, signatures and records. Information flowing seamless across the business silos. Paper based processes, wherever they are, should be seen as the enemy.
Privacy and data protection
New legislation requires companies to look after all the data and information provided through their interactions.
What are the disruptors doing that traditional legacy organisations aren’t, why do they see exponential growth where traditional company’s revenue flat-lines, the answers lie in the digital World.
How digital is the average traditional organisation?
Surprisingly so, virtually all back-end systems are already computerized in some form or another, accounting systems, ERP, CRM, Banking and electronic communication. So why do paper-based processes still exist? Where is the digital interface into customers and suppliers? How do disruptors capture and make sense of the valuable data around them, what gives them the understanding of customer value that drives growth? Old legacy systems need not be a handbrake on a new digital front end.
So how hard is it to transform to a digital front end?
If you know how to do it, have access to the right technology to enable it, buy-in from the organisation to do it, access to two decades of experience, it’s really simple. But simple wasn’t easy.
Going digital is a journey, as the organisation starts to understand and learn from the automated processes and rich new sources of data and information, so its understanding, strategies, partnerships and positioning will change. To create a new level of competitiveness, consider the six concepts above, and become wise to the data that digital processes provide.