Analysts agree the time is NOW for adopting IT Financial and Service Management, and Business Process Management!

Analysts agree the time is NOW for adopting IT Financial and Service Management, and Business Process Management!

A recent Forrester article finally addressed the need for state and local government, as well as commercial companies, to add IT resources to their IT environment, such as:

  • ITIL (IT Infrastructure Library),
  • ITFM (IT Financial Management),
  • ITSM (Service Management), and
  • BPM (Business Process Management).

While investigating why ITSM was necessary with the dawn of the cloud computing era of virtualization, Forrester discovered that most customers face the daunting challenge of trying to address the lack of integration between currently established processes.  Additionally, they were challenged with how to adapt to an ITIL/ITFM approach to transform them into a service-on-demand IT environment, and being able to easily integrate new technology into their existing stack.

Forrester deemed knowledge transfer as critical for success.  This fact is bolstered by the estimate of the Bureau of Labor and Statistics that by 2010, 24 million workers would need to be replaced due to death or retirement.

Some organizations would lose up to 50% of their executives in the next two to three years.  This estimate provides additional justification ? along with the reduced costs ? for automating redundant processes as the immediate hedge against attrition.

As this generation leaves the workplace, we should examine carefully the consequences of their exit and the steps necessary to ensure a smooth transition.  Younger workers are entering the workforce, but in many cases they do not possess the same skills as the workers they replace. The shortage of skilled workers is already placing new pressures on businesses. Companies can take measured steps now to offset the shortage of skilled workers.

By adopting a Business Process Management (BPM) approach now, you can avoid one of the most common mistakes in succession planning, which is waiting until it’s too late and failing to plan ahead.  Admittedly, this takes valuable time. However, many specialists agree succession planning is vital to an organization’s continued success.

It is imperative to identify “critical talent.”
First, define the skills that are critical to the organization’s business strategy.
Next, identify the people within the organization who possess these skills.

While companies have been devoting a significant amount of effort to succession planning for top management, they should also place importance on transferring essential know-how and skills to mid-level and younger workers. These individuals should be considered the “critical talent.” They possess highly developed, specialized skills, and know how to get things done within the organization.

Many companies are looking overseas to avert the labor shortage, but the competition for overseas labor will be fierce. The United States is not the only country with an aging workforce. Europe and Asia also face a shortage of skilled workers as their own baby boomers retire.

Knowledge management has become a crucial new task not only for HR, but also for IT as well.  In most leadership transitions, one of the greatest difficulties is the loss of critical, often unspoken knowledge.  As a result, the company can incur both the direct and indirect costs in reinventing the wheel.

The process of transferring knowledge is far easier said than done. Many traditional training programs fail to capture the information that many senior employees have, perhaps without even realizing its importance. While technology can support the process of diffusing knowledge throughout an organization, technology alone is insufficient.

It is important to take the first step in the transfer of knowledge – protect your investments in people, processes, and technology.

How do you do this?  We suggest that you take the following steps:

  • Define current state:  Protect your process investments by capturing and defining the current environment.
  • Institute change:  Increase operational efficiencies by instituting a program for change that optimizes your current processes.
  • Drive automation:  Mitigate the risk of attrition by automating those processes that are people-intensive.
  • Implement BPM:  Install a comprehensive program that applies a proven method that considers several critical factors.

Define Current State

Document “As-Is” business processes that apply the proprietary KEDAR IT BPM method, called Business Value Alignment™ (BVA). We will build models of your organization, processes, and workflows.

Institute Change

Provide a roadmap for change to ensure optimal business processes. We apply a workflow-driven method that includes:

  • framing the processes,
  • understanding and analyzing the current state,
  • designing an efficient future state, and
  • developing extensive business process models.

Drive Automation

Examine all areas of the business to find key candidates for process automation. Such in-depth probing and analysis isolates areas where duplication and inefficiencies exist. We use process automation methods to provide remedies, such as simulation and automation tools.

Implement BPM

Define a comprehensive approach to assist stakeholders to understand the value of implementing BPM.
For example, we use our proven processes of Business Value Alignment (BVA™) to

  • develop a strategy,
  • provide training,
  • examine the appropriate metrics, and apply the best tools and templates.

Ask KEDARit about our BPM solutions that significantly improve IT and business processes.

We are a premier provider of process automation solutions that enable clients to protect their process investments, increase operational efficiencies and mitigate the risks of attrition.

 

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