How can efficiency and sustainable success of a business model be ensured in the digital economy? The key to this is agile business processes that serve as a blueprint for the digital economy.
The mapping of business processes in models then allows for rapid implementation processes, in which the technical specifications are implemented using standardized SaaS offerings from the Oracle Public Cloud into productive enterprise application systems. A look into the future shows how these methods can also be applied in enterprise spanning process networks.
Novel digital technologies or simply unprecedented ways of using known technologies, or sometimes just immense increases in performance of proven technologies form the space needed to drive the digital economy. Here, motivated entrepreneurs with ingenious – or sometimes downright strikingly simple – ideas will find the soil to thrive on. If then potent and ideally patient risk capital providers come into play, the rising star of the digital economy seems to have been born. But how it can be prevented that this star does not burn up in the fire of scorched millions after a short time? How can a business model’s efficiency and sustainable success be ensured?
We believe that such an occurrence requires a blueprint, which is commonly understood and formulated in a way that is easy to communicate, but which holds so much agility that it can adapt quickly and resiliently to changing markets and environmental conditions at any time. The blueprint must allow different views of the digital economy: A consistent strategic corporate vision with business objectives, strategies and an objective risk assessment as well as a comprehensive definition of business processes with process context, processes, business rules, business objects, competences and responsibilities as well as the relevant corporate structures.
Such a blueprint of the digital economy may not be rigid, as it would fail. It must rather be agile by being stretched from a lot of “conceivable” business processes, which constitute an agile character themselves. The mapping of business processes in semiformal models then allows rapid implementation processes, in which the technical requirements of the business process models are implemented into productive enterprise software systems using standardized Software as a Service (SaaS) offerings from the Public Cloud. Especially the Oracle Platinum Partner and award winning Specialized Partner PROMATIS (www.promatis.com) offers very sophisticated methods for the entire Oracle SaaS portfolio, which are briefly addressed in this article.
However, these are currently only the first phases of the digital economy, where this method has been proven. Further phases will follow, in which singular business processes must be connected to enterprise-wide process chains and process networks. Seamless integration and best usability for all users involved are required just as much as an optimal tapping of the potentials of the Internet of Things (IoT). These aspects are briefly discussed in this article as well.
A Well-Tilled Field …
The fact that a digital transformation is in full swing in our economy and administration, in the highly developed economies of the world, is evident everywhere. This is the source of the digital economy of the future. Indicators are the proliferation of digital devices up to the electronically managed data volume (keyword: Big Data). The novelty, however, is that the boundaries between business and private life are disappearing and the digital transformation extends even to the developing countries of the world.
In the Zero Marginal Cost Society more and more people can participate in services spread on the internet. And in addition to this human need to participate, megatrends can be identified, which drive the digital transformation: Mobile technologies, Business Intelligence incl. Big Data, Cloud Computing and Social Media. Then there is the ever-increasing use of the Internet of Things, where cyber-physical systems communicate and collaborate with each other and with human users.
This large number of drivers of the digital transformation leads in many companies to a sprawl of information technology, especially when introducing new technologies in the context of “Me-Too Strategies”. The companies are then further away than ever from efficiency and long-term success of the business model. No doubt: The winners of the digital economy proceed differently.
But what exactly distinguishes these winners of the digital economy? …
Read the White Paper: Agile Business Processes: Blueprint for the Digital Economy