3 steps to create business value from advanced technology

In speaking with business leaders across many industries, I hear consensus that technology is a way to unlock productivity—and therefore value. This is accomplished by making processes, which are the center of every organization, even more productive. Recently this common belief was validated by Infor’s global research study* which uncovered:

74% of business leaders and software users say advanced technologies create business value

Despite recognizing the role advanced technology plays in creating business value, many executives still struggle to embrace it. So, what’s stopping them?

Barriers to embracing advanced technology

I’ve found three common challenges that prevent executives from moving forward with advanced technology:

Uncertainty about where to start

Too often, business leaders are enticed by the promise of an exciting new solution, only to be disappointed by the lack of tangible improvements post implementation. This leads them to have doubts that the next technology will deliver the specific outcomes they want to see.

A lack of understanding of the technology landscape

With a plethora of options to choose from, and new solutions appearing at seemingly breakneck speed—the sheer scale of choice for business leaders can be overwhelming, and potentially even off-putting.

Insufficient talent or skillsets to effectively implement advanced technologies

No business leader has unlimited information technology (IT) resources. But even if they did, dedicating IT resources to highly specialized technical expertise does not guarantee a clear path to value.

These obstacles are not unique to one industry or region. They are common barriers that hinder organizations from adopting new technology, getting more productive, and generating value.

To eliminate these barriers, we have launched Infor Velocity Suite—a package of solutions and services that makes process innovation easy and impactful.

Infor Velocity Suite: 3 easy steps

Infor Velocity Suite is specifically designed to tackle these barriers head-on. Here’s how it works:

1. Diagnose

Process Mining, part of the Infor Velocity Suite package, identifies inefficiencies in existing processes, giving business leaders fundamental information on where issues exist. Process Mining drills down into the details of processes and sub-processes, identifying non-conforming variants (i.e., where things aren’t going as planned), and pinpointing bottlenecks that slow down operations. In other words, it gives business leaders certainty about where to start improving processes.

2. Automate

Once issues have been identified, the next step is to automate. The Infor Velocity Suite package includes a catalog of automation solutions to choose from. The catalog is called Infor Value+, and every automation solution within it leverages advanced technologies like generative artificial intelligence (AI), machine learning, and robotic process automation (RPA). Each one has been battle-tested by Infor customers and proven to generate measurable value.

Just as important, in-house experts and IT resources aren’t needed to implement them. Each automation solution in the Value+ catalog is implemented by Infor’s team of experts. There’s no need to worry about hiring expensive talent with specialized skill sets to make it happen.

3. Optimize

Last, but not least, the Infor Velocity Suite package includes unlimited usage of generative AI to maximize productivity. Infor GenAI is embedded into workflows to summarize information, write copy, translate documents, and even provide recommendations based on business and industry needs. It injects the full power of generative AI where users are already working.

With the three-step process of diagnose, automate, and optimize, the Infor Velocity Suite package removes the barriers of uncertainty, limited understanding, and resource constraints. It’s a model that’s simple yet effective.

If you’d like to learn more, please join our digital event.

 

*Source: How Possible Happens, Infor 2024