PEX Network brings you the latest news in process and operational excellence, business process management (BPM), digital transformation, Lean Six Sigma, Kaizen, process mining and more.
Week of 01/29, 2024 includes:
- SAP launches project to help businesses move ERP to the cloud
- Bank of America recognized for digital transformation
- OPEX Week wows in Miami
- BPM market set for significant growth in Japan
- Almost all businesses face “some degree” of digital transformation challenge
- Boeing delays operational and financial goals for 2024
- Suffolk, Jumo Health, fundcraft and Ascot Group make OPEX hires
- Accenture acquires Navisite to support business modernization and reinvention
- Beckman Coulter expands portfolio with proven Six Sigma performance
SAP launches project to help businesses move ERP to the cloud
SAP, a global leader business process management (BPM) software, announced a new set of resources, services and financial incentives to help businesses move enterprise resource planning (ERP) systems to the cloud by eliminating custom code, data silos and process complexity. The RISE with SAP Migration and Modernization program addresses two primary issues businesses face when moving to the cloud – scope and cost, the firm said.
The program helps customers become and remain innovation-ready to benefit from ongoing updates and new innovations. Once customers are operating in the cloud, SAP will support in management to build reliability, strengthen security and compliance, unlocking the power of business data, according to a press release.
“Every company needs a cloud-first business strategy,” said Eric van Rossum, chief marketing officer for cloud ERP, SAP. “It’s more important than ever for customers to start their migration and modernization journey, so they can harness the potential of the latest cloud innovations, including AI and sustainability solutions.”
Bank of America recognized for digital transformation
Bank of America has been recognized in the annual Coalition Greenwich Digital Transformation Benchmarking Study for its digital transformation successes and ongoing enhancement of its CashPro platform. CashPro is the company’s digital banking platform accessed by more than 40,000 corporate and commercial clients around the world to manage their treasury, trade and credit operations and perform self-service requests. The platform sets the bar for client experience and ease of doing business by providing efficiency through automation and integration with a client’s existing systems, according to a press release. Over the last two years, the company has introduced several enhancements to the platform.
“These accolades reinforce that we are investing in the right solutions for our commercial and corporate clients and providing them the best banking experience possible through innovative financial technology that allows them to enhance their operations and make better business decisions,” said Tom Durkin, global product head of CashPro in global transaction services at Bank of America.
OPEX Week wows in Miami
The 25th OPEX Week: Business Transformation World Summit took place in Miami, Florida this week. The event brought together transformation and operational leaders from around the globe to share insights and expertise on leading organizations into the future. The summit featured a diverse range of industry thought-leaders discussing enterprise reinvention and the exciting realms of process, people and strategy – all empowered by the digital core of modern businesses.
The speaker lineup included leaders from industry giants like Reckitt, GE Healthcare, the United States Air Force, Mastercard and First Citizens Bank, along with keynote speaker Olympian athlete Michael Johnson. “More than ever, companies need to rise up and not only lead the transformation requirement but also re-invent at the enterprise level to completely re-imagine their strategy, process, people and technology,” wrote Cathy Gu, event director.
BPM market set for significant growth in Japan
Japan’s BPM market is predicted to exhibit a growth rate (CAGR) of 19.70 percent between 2024-2032, according to a new report from market researchers IMARC Group. This is being driven by widespread adoption of digital transformation initiatives, the growing emphasis on achieving OPEX and the increasing complexity of regulatory environments.
Japanese businesses, known for their dedication to precision and optimization, recognize BPM as a strategic tool to refine workflows, reduce inefficiencies and enhance overall organizational performance, the report states. Furthermore, the rapid technological advancements and embracing of Industry 4.0 principles are pivotal in driving the BPM market. As Japanese enterprises integrate smart technologies, IoT devices and data analytics into their operations, BPM becomes instrumental in orchestrating these complex, interconnected systems.
REGISTER: All Access: Future of BPM 2024
Almost all businesses face “some degree” of digital transformation challenge
Almost all businesses (98 percent) are experiencing at least some degree of challenge with their digital transformation efforts, with 80 percent facing data silos and 72 percent grappling with systems that are overly dependent on one another. That’s according to new research from Salesforce which revealed that 75 percent of organizations are struggling with integrating data insights into user experiences.
The survey also found 85 percent of business leaders expect AI to increase developer productivity at their organizations over the next three years, but 95 percent report integration issues that are impeding AI adoption. As a result, there’s a need for better integration to unify all structured and unstructured business data to power and deploy trusted, relevant AI across all business functions, according to the research.
“AI is only as powerful as the data organizations can connect to it and the outcomes they can drive from it,” commented Param Kahlon, EVP and GM, automation and integration at Salesforce. “This data shows IT leaders are increasingly aware that their ability to operationalize AI – and drive business and customer value – will be dependent on their ability to integrate it with their existing systems to create new opportunities for growth.”
Boeing delays operational and financial goals for 2024
Airspace giant Boeing has said it cannot offer any operational or financial goals for 2024 as it faces serious safety questions in the wake of the Alaska Airlines mid-air incident. The company’s production of 737 MAX jets has been limited by the US Federal Aviation Administration until “the quality control issues uncovered during this process are resolved.” Investors are concerned about the impact that decision could have on delivery targets and cash flow, The Wall Street Journal reported. Boeing had a better-than-expected fourth quarter, despite reporting a net loss of US $30 million – less than the $140 million expected and far below the $663 million of a year earlier.
“While we often use this time of year to share or update our financial and operational objectives, now is not the time for that,” said CEO Dave Calhoun said in a message to employees. “We will simply focus on every next airplane.”
Suffolk, Jumo Health, fundcraft and Ascot Group make OPEX hires
US construction enterprise Suffolk has appointed Justin Lyons to drive OPEX in Northern New England. As new VP and project executive, Lyons will aim to leverage Suffolk’s processes and innovative spirit to deliver state-of-the-art facilities to support the growth and development of the region, he said. “Justin’s comprehensive understanding of regional client needs will be integral to our mission of delivering operational excellence at every stage of the project lifecycle,” commented John Fish, chairman and CEO of Suffolk.
Snev Dorsonne has joined Jumo Health as new COO to enhance its business operations and delivery model. With 25 years of business operations leadership and change management experience, Dorsonne brings a wealth of expertise in driving revenue and operational efficiencies to her new role, the medical education resources provider said. “Given the scale our organization has achieved over the past several years, we were searching for a leader with an established track record of ushering in productivity improvements and managing the associated organizational change,” commented Kevin Aniskovich, president and CEO of Jumo Health.
Digital infrastructure provider fundcraft has appointed Peter Klinkner as its new head of fund operations to propel operational and service excellence. Klinkner joins from IQ-EQ where he served as head of operations. “We are thrilled to have Peter join us at this pivotal moment for fundcraft,” said Julien De Mayer, CEO of fundcraft. “With Peter’s insight and leadership, we are poised to redefine industry standards and affirm our position as trailblazers in the digital transformation of fund services.”
Elizabeth Johnson has taken on the role of group COO at Ascot Group, a specialty risk-assumption organization. Ms. Johnson will be responsible for leading the company’s global operational support organization while also overseeing the Ascot technology, business intelligence and communications and marketing functions. “I am honored to take on the role of group COO at Ascot and look forward to building upon the strong operational foundations set forth by our regional leadership teams to both align and further enhance our underwriting and operational excellence across the globe,” Ms. Johnson said.
READ: PEX Guide: What is operational excellence?
Accenture acquires Navisite to support business modernization and reinvention
Accenture completed the acquisition of Navisite, a digital transformation and managed services provider. The acquisition helps to bolster and scale Accenture’s application and infrastructure managed services capabilities to help clients across North America modernize their IT for the AI era, the firm said. It adds approximately 1,500 people to Accenture’s infrastructure engineering practice dedicated to helping clients accelerate their cloud transformations and build a strong digital core.
“Adding Navisite means we can more quickly help clients ‘run to the new’ – modernizing at speed while they operate efficiently, through Accenture’s innovation-focused managed services,” said Karthik Narain, group chief executive, Accenture Technology.
Beckman Coulter expands portfolio with proven Six Sigma performance
Beckman Coulter Diagnostics, a clinical diagnostics leader, unveiled a new automated clinical chemistry analyzer proven via Six Sigma assessment to exceed the demands of the stringent CLIA 2024 performance specifications. The DxC 500 AU Chemistry Analyzer uses advanced automation technology, onboard guided workflows and standardized reagents for use across healthcare networks, according to the firm.
“Healthcare systems around the world are strategically adopting hub-and-spoke models for better efficiency and healthcare access,” said Kathleen Orland, senior VP, business unit, general manager, chemistry and immunoassay at Beckman Coulter Diagnostics. “Hub-and-spoke clinical laboratory models optimize resources to improve access to testing services and enhance overall standardization for quality testing and positive impact on inventory and cost management across a health system.”
READ: PEX Guide: Lean Six Sigma Black Belt certifications explained