You\u2019ve heard it before, \u201cIf it ain\u2019t broke, don\u2019t fix it.\u201d It\u2019s a phrase that means if something is functioning properly, it\u2019s best to leave it as is \u2013 don\u2019t make any changes that could potentially break it. Bert Lance coined this phrase in the May 1977 issue of Nation\u2019s Business magazine.<\/p>\n
How often have you (or should I say we) taken this idiom as gospel? Frankly, it may have been the mode of action we followed in the past due to financial, time, resource or economic constraints. It would have made sense then to avoid fixing a \u201cnot yet a problem\u201d a decade ago. But in today\u2019s fast-changing digital world, if you don\u2019t address these problems in a timely manner, it might restrict your business\u2019s nimbleness and ability to change.<\/strong><\/p>\n It is good to categorize these problems into three areas:<\/p>\n Though it is common sense to do restorative or preventative maintenance on the problems mentioned above, at times, we intentionally overlook them. Let\u2019s look at an example for each degree of the business problems discussed above:<\/p>\n You were proud of your company\u2019s award-winning app when it debuted five years ago, but recent surveys show app-user satisfaction has slipped. They say they now want an app that fully integrates with their accounts, delivers real-time access and scheduling, or can even interact with in-store displays or holograms.<\/p>\n However, providing these exciting features is only the first step toward digital modernization<\/a>.<\/strong> In addition to the interface, you\u2019ll need to modernize your backend systems as you continue innovating and staying on top of technology. The visible problem of less happy customers and an aging app reveals deeper needs within your IT stack.<\/p>\n Your insurance underwriting business relies on documents \u2014 lots of documents. However, in your highly regulated industry, regulators constantly revise documents and the processes for how these need to move throughout your company. Even more policies are on the way, and you\u2019re not sure how they will affect your people or their existing processes.<\/p>\n Business process management<\/a> (BPM) is the discipline of helping you modify your processes to keep up with changing customer and market needs.<\/strong> In the developing problem above, you may need a BPM solution specifically targeted at document management \u2014 with space carved out for people and technology \u2014 to stop this below-the-surface problem from becoming a full-blown regulatory crisis.<\/p>\n Your business is humming along, but you read an industry newsletter describing how a competitor saves time and money by turning many aspects of their operations over to automation. The article talks about robots, chatbots and plain old \u201cbots,\u201d and it\u2019s full of abbreviations and words you\u2019ve never heard. Could automation be right for you<\/a>? Would it cause more problems than it fixes? How can you know, and where would you start?<\/p>\n I can think of other examples where we apply a temporary \u201cband-aid\u201d to situations or ignore them altogether to avoid investing resources. In my 18 years of experience across mid-sized to Fortune 500 companies, I have seen these exact situations play out and contribute to business failure or ineffective company adaptation to the quick pace of change that today\u2019s digital transformation<\/a> programs require.<\/p>\n Now that we know that resolution of the problem is necessary, we can categorize the solution into two buckets:<\/p>\n You can think about the difference between restorative and preventative in terms of time. A restorative resolution focuses on fixing a visible problem that\u2019s already happened or is happening now, while a preventative solution is more about a developing business problem or potential problem in the future.<\/p>\n Taking proactive actions by doing quick assessments around operating models \u2013 people, process, technology and information \u2014 is one effective way to determine if you need restorative or preventative solutions.<\/strong> Then, you can start the \u201cfixing\u201d process. Here are a few types of assessments that can help.<\/p>\n The important point behind these quick assessments is to determine the urgency of the problem. That way, you can determine if the solution requires just a quick diagnostic working session (a few hours), a workshop (a few days), a deep-dive assessment in selected areas (a few weeks), or a full-fledged comprehensive assessment<\/a> across operating model (a few months).<\/p>\n As you search for a resolution to your business problems, remember: it\u2019s always better to get ahead of the problem before it gets ahead of you. Partner with a vendor with capabilities in all areas \u2014 people, process, technology and information<\/a> \u2014 to help wherever you are. But the most important thing is to know exactly where you are in the problems you face, first.<\/p>\n\n Different Levels of Business Problems<\/h2>\n
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Digital Modernization \u2013 The Visible Problem<\/h3>\n
Business Process Management \u2013 The Developing Problem<\/h3>\n
To Automate, Or Not to Automate? \u2013 The Potential Problem<\/h3>\n
How Can You Resolve Your Potential Business Problems?<\/h2>\n
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Conclusion<\/h2>\n