Subscribe
The world's leading Supply Chain Planning Industry online event

Virtual Conference

September 27-29, 2022

The world's leading volution of Remote Work Industry online event

Virtual Conference

October 4-6, 2022

Europe's leading iBPM Industry online event

Virtual Conference

October 11, 2022

The world's leading Hyper Automation & DigitalOps Industry online event

Virtual Conference

October 18-20, 2022

The world's leading RPA & Intelligent Automation Industry online event

Virtual Conference

October 25-27, 2022

The World's leading Financial Services Industry online event

Virtual Conference

November 1-3, 2022

IT Infrastructure & Cloud Strategies Live

Webinar

November 8-10, 2022

The world's leading iBPM industry online event

Virtual Conference

November 15-17, 2022

The world's leading Supply Chain Planning online event

Virtual Conference

September 27-29, 2022

BTOES Insights Official
By
July 03, 2022

INSIGHTS ARTICLE: ABBYY - Anthony Macciola: Analytics Insight - How CIOs Can Get the Most ROI From Digital Transformation Budgets.

BLOGS COMPANY LOGO - 2022-02-09T183844.416pillar%20page%20line%201

Analytics Insight - Four fail proof factors for a successful Hybrid Work Model

A recent survey of business leaders revealed that more than half of the decision makers who responded felt their budget for digital transformation in the coming year was not enough. And even though 55% of their digital transformation budgets ranged from $500,000 to $5 million, their previous investments were not having the impact they expected. This illustrates that throwing new technology at a problem does not always meet business expectations. Creating a carefully planned IT budget strategy can be difficult when you’re trying to balance priorities across different departments with long-term goals. CIOs must work with CFOs and CEOs – and, really, all stakeholders – to ensure they’re investing precious dollars in the right areas and getting the biggest return on their investment.

While technology is quickly changing the nature of business, its investment processes haven’t always maintained the same rate of progress. CIOs need to rethink technology budgeting, how to get the most ROI from it, and prioritize their digital investments. Here are three ways to get the most ROI from your budget.

Evaluate current systems to prioritize next steps
It seems companies have been automating everything their hands can touch under the guise of digital transformation. Many automation teams have digitized processes without fixing them first, knowing the impact across the organization, or if they met key performance indicators. Many leaders threw best practices out the window to maintain business continuity, meet new remote work needs, or for fear of being disrupted.

One of the most important factors of successful IT budget planning is not spending the most money but spending it wisely. CIOs need to perform ongoing assessments to have an accurate picture of existing processes and identify where investments can deliver the greatest return. Having this pragmatic view and taking a step back can truly help you understand how your business is operating today and where it’s underperforming or where there are opportunities for optimized performance. Once you understand your processes and how they’re operating, you can establish a baseline and prioritize an efficient automation strategy.

RESEARCH REPORT NO DATEBe aware of hidden costs
There can be hidden expenses during digital transformation projects, especially when it comes to robotic process automation (RPA). Be cautious of focusing internal resources and automation initiatives around processes that are interesting to automate rather than those that are more impactful to downstream processes. Process intelligence has become a strategic tool for aiding the C-suite in understanding where automation budget investments can offer the highest returns within digital transformation initiatives.

Also, understand the limitations of some tools. RPA, for example, needs AI skills to understand the content and context from documents feeding its platforms. The manual resources to correct and monitor bots may end up costing more than expected. Many inefficiencies today are a derivative of poor focus over poor execution.

Don’t get caught in the hype
Some tech evangelists, including myself, may seem underwhelmed about technologies hyped to be an end-all to digital transformation. If you understand and use them for what they can truly accomplish, then you’ll get the return you’re expecting. The goal is to understand the problems you’re trying to solve, and make sure you have the right mix of solutions for the job, whether it’s RPA, intelligent document processing, process mining, data analytics, low-code platforms, or conversational AI platforms. Most importantly, select best-in-breed partners who will be a champion of your business goals.

Lastly remember, AI is a broad term that encompasses many different technologies like machine learning (ML), computer vision, and natural language processing (NLP). Some vendors use these concepts interchangeably when they’re not. Understanding this helps you wrap your head around AI and pull back the curtain to see individual tools with real capabilities, not just a singular magical technology that fits all.

Research Report 2021/22 - The Global State of Operational Excellence: Critical Challenges & Future Trends 

pillar%20page%20line%201

About the Author

Untitled design (25)Anthony Macciola,
Chief Innovation Officer,
ABBYY.

Anthony Macciola is a seasoned veteran of the tech industry, with over 30 years of experience in software, hardware, and algorithm development. He joined ABBYY's Executive Management Team as Chief Innovation Officer (CIO) in October 2017. In this role, Anthony formulates ABBYY's market-focused vision and strategy for driving innovation and developing new product concepts, and evangelizing strategic marketing strategies. He holds over 45 patents in the areas of mobility, text analytics, image processing, and process automation. 

pillar%20page%20line%201


Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Download the most comprehensive OpEx Resport in the Industry

The Largest Leadership-Level Business Transformation & Operational Excellence Event

The Business Transformation & Operational Excellence Industry Awards Video Presentation

Proqis Events Schedule

Proqis Digital

The Business Transformation & Operational Excellence Industry Awards

Welcome to BTOES Insights, the content portal for Business Transformation & Operational Excellence opinions, reports & news.

Submit an Article

300x300-LX-Connect-Boston
24097-Proqis-Media-Pack-Banner-300x300
ACCESS 50 VIDEO PRESENTATIONS
Access all 75 Award Finalist Entires
RESEARCH REPORT 2021/2022
BTOES AWARD - NO DATE
BTOES UNIVERSAL GRAPHIC - NO DATE
Subscribe to Business Transformation & Operational Excellence Insights Now
btoes19.png
png
Virtual Conference
17-Jul-29-2022-11-08-38-34-AM
SPEX  - Proqis Digital Event Graphic
18-Jul-29-2022-11-10-13-24-AM
png

Featured Content

  • Best Achievement of Operational Excellence in Technology & Communications: IBM
  • Best Achievement of Operational Excellence in Oil & Gas, Power & Utilities: Black & Veatch
  • Best Achievement in Cultural Transformation to deliver a high performing Operational Excellence culture: NextEra Energy
   
Operational Excellence Frameworks and Learning Resources, Customer Experience, Digital Transformation and more introductions
  • Intelligent BPM Systems: Impact & Opportunity
  • Surviving_the_IT_Talent_deficit.png
  • Six Sigma's Best Kept Secret: Motorola & The Malcolm Baldrige Awards
  • The Value-Switch for Digitalization Initiatives: Business Process Management
  • Process of Process Management: Strategy Execution in a Digital World

Popular Tags

Speaker Presentation Operational Excellence Business Transformation Business Improvement Business Excellence Process Management Continuous Improvement process excellence Process Optimization Process Improvement Leadership Award Finalist Case Study Digital Transformation Enterprise Excellence Change Management Premium Lean Organizational Excellence Lean Enterprise Lean Six Sigma Execution Excellence Capability Excellence New Technologies Changing & Improving Company Culture Agile end-to-end Business Transformation Execution & Sustaining OpEx Projects Lack of/Need for Resources Leadership Understanding & Buy-In Culture Transformation Adapting to Business Trends Changing Customer Demands Failure to Innovate Integrating CI Methodologies Lack of/Need for Skilled Workers Lack of/Need for Support from Employees Maintaining key Priorities Relationships Between Departments BTOES18 Enterprise Architecture RPA & Intelligent Automation Live BTOES From Home Insights Article Technology Financial Services Customer Experience Excellence Process Mining Healthcare Healthcare and Medical Devices iBPM Process Automation Culture Customer Experience Innovation BTOES Video Presentations Exclusive BTOES HEALTH Strategy Execution Business Challenges Report Industry Cultural Transformation Digital Process Automation Manufacturing Digital Workplace Transformation Robotic Process Automation (RPA) IT Infrastructure & Cloud Strategies Automation BPM AI Lean Manufacturing Webinar innovation execution Robotic Process Automation IT value creation Agility Business Supply Chain Planning Systems Engineering Oil & Gas RPAs Insurance Process Design Digital data management Speaker Article Speaker's Interview digital operations Awards thought leaders Artificial Intelligence BTOES Presentation Slides Cloud Machine Learning Data Analytics Digital Transformation Workplace Banking and Capital Markets Transformation Data Finance Professional Services Intelligent Automation Education IT Infrastructure IT Infrastructure & Cloud Strategies Live Blockchain Interview Business Process Management White Paper investment banking BTOES19 Consumer Products & Retail Enterprise Agile Planning Government Operational Excellence Model Project Management Algorithm Automotive and Transportation Banking Business Environment Digital Bank Primary Measure of succes Sales business expansion revenue growth Adobe Sign Agile Transformation Analytics Insight BTOES Delivery solution E-Signatures Electricity Global Technology HealthcareTechnologies Hybrid Work Model Innovation in Healthcare Relationship Management Transportation Accounts Receivable (AR) Big Data Technology CORE Cloud Technology CoE Cognitive learning Days Sales Outstanding (DSO) Logistics Services Operational Excellence Example Risk Management Solving Cash Flow with AI business process automation transformation journey Covid-19 Data Entry Digital Experience Digital Network Digital Network Assistant (DNA) Digitization Drinks HR Internet Media NPS Net Promoter Score Program Management Portal (PgMP) Six Sigma Sustainability TechXLive Automated Money Movement Biopharmaceutical Blue Room Effect Capital Market Creative Passion Digital Transformation Workplace Live Digital Workforce Digitalization ERP Transformation Effective Change Leaders Enterprise architecture as an enabler Finance Global Operations (FGO) Financial Services Software Frameworks Hoshin Planning Human Capital Lean Culture Natural Gas Infrastructure Natural Language Processing Organizational Change Pharmaceutical Pharmaceuticals & Life Sciences Project manager Supply Chain Management Sustainable Growth The New Era of Automation Transformation Initiatives Workplace Analytics eForms eSignatures 3D Thinking BEAM BFARM BTOES17 Banking & Financial Services Big Data Processing Business Analytics Business Growth Business Process Governance Centralized Performance Monitoring System Communication Creativity Digital Technologies Digital Technology Educational Psychologist Energy Management Health Insurance Health Maintenance Organizations Hospitality & Construction Human Centered Design Integrated Decision Approach Integrated Decision Making Kaizen Medicare Moodset for Excellence Natural Language Processing (NLP) Offering Managers Oil and Gas Optical Character Recognition (OCR) Pharmaceuticals and Life Sciences Photographing Price and Routing Tracking (PART) Process Design Document (PDD) Product Identifier Descriptions (PIDs) Python Quote to Cash (Q2C) Reduce your RPA TCO Resilience SAP Sales Quota Team Work Telecommunications Text Mining The Document is Dead The Fully Automated Contact Center Visually Displayed Work Culture master text analytics virtual resource management Agile methodology Announcement

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120