Fatihah Ramzi, DigitalCFO Asia | 5 August 2022
Chief Financial Officer, WalkMe
Digital transformation is about automating in a more effective way such that businesses are able to better reach out to clients and consumers. COVID-19 put this into real focus because employees were not able to work in the office. So traditional methods of communicating, sharing and driving business processes had to be digitalised. It started off simply with the advent of online communication capabilities.
The pandemic put in the forefront how businesses need to interact with one another, especially their clients. These technologies took the frontpage as it enabled businesses to continue driving interaction in a remote environment. The next step was automating the processes that were a part of business operations. But with such a competitive environment, how do companies successfully navigate through this digital race and successfully implement Digital Adoption Platforms (DAPs).
Top Concern On How Digital Transformation Is Impacting Their Bottom-Line
One of the biggest hurdles that is seen when investments are made is that they are not always showing expected outcomes. When companies bring in new software, they are simply trying to make their operations more efficient by aggregating their data be it with suppliers, consumers and clients. But if the employees of the company do not know how to interact with the software then the outcomes are somewhat minimized.
One of the key areas of concern is actually in teaching employees how to make use of the software and potentially adopt the processes that the companies want.
“Companies purchase software because it offers some level of productivity and enhanced efficiency. But what WalkMe noticed is that there is a big gap in teaching employees how to use it,” says Andrew Casey, Chief Financial Officer, WalkMe.
If employees do not see how the software can benefit them or aid them in their work, then the company is simply providing an avenue as to how their processes can be more efficient but not that it will be.
“Employees think in processes and not in software terms. They do not care about the software or the technology, they only care about how they can get the processes done,” adds Sandie Overtveld, Senior Vice President, WalkMe.
Employees are not interested in learning about the different aspects of how software can increase efficiency. They simply want to get the business processes which they are responsible for done.
Gauging Successful Digital Adoption
Successful digital adoption is a company specific process and is very much dependent on their priorities – it is important that businesses understand their core business issues. When it comes to digital transformation, it is critical that business leaders understand how to navigate their business processes through the software they intend to have onboard.
“So many companies expect great return after they automate their processes but the reality is, they might see a lot more inefficiencies when the automation first comes in because it has over complicated processes for the employees,” says Sandie Overtveld, Senior Vice President, WalkMe.
It is important that businesses understand that automation will not immediately bring them the results they want to see. The company will need their employees to first adapt to new automation and software that have been put in place before they can start seeing the returns.
Companies should implement a digital solution that will give them a detailed view into their employee journey so they can pinpoint precisely where friction takes place, where employees drop off, and which features are underutilized if they want to monitor their progress and determine whether their digital adoption is successful. Businesses can then address typical user issues and prepare the way for digital adoption based on that knowledge.
“Understanding how to measure digital adoption not only lets businesses get the most from their software investments, but it also enables them to achieve core business goals,” says Andrew Casey, Chief Financial Officer, WalkMe.
Businesses may make sure their staff members are on the right path to success by putting metrics for measuring digital adoption in place.
Digital Adoption Platform (DAP) In Improving Digital Fluency & Creating A Productive Digital Work Environment
The pandemic brought about a need to create better work experiences for employees. Businesses notice that they have multiple productivity and efficiency issues within the organisation because the employee work experience is not great. This is because employees are not getting a simplified and convenient experience with DAP(s) which consumers are getting on a daily basis from e-commerce platforms.
“Businesses must rethink how they manage their workforces and come up with new strategies to assist their employees,” says Andrew Casey, Chief Financial Officer, WalkMe.
If companies want their internal disruption-free business operations to continue, they will need to consider ways to make it easier for employees to get onboard with DAP and receive training. They must also provide quick and rapid support round the clock, and tools that will track and monitor employee output so that any issues can be dealt with swiftly. This will also give room for enterprises to provide employee services in a more effective way.
As a result, employees will be less afraid of change management and more willing to accept it. Employees will undoubtedly feel more encouraged and motivated to utilize digital technologies when they have the proper support.
Role Of CFO In Digital Transformation
To maximize profits, CFOs must prioritize the investments they are making and optimize operations. Many business leaders place too much emphasis on doing things right rather than doing the right thing. Because of this, setting priorities is essential, and CFOs must educate their staff to focus on the proper tasks. The business must make sure they are receiving the right amount of returns if they have limited investments. The team must be coordinated and moving in the same direction for the business to succeed. At the end of the day, if CFOs are not measuring and understanding what that investment return is, then they are not making the right decisions.