IT Management - Semester 2 - Part Time MBA Assignment
IT Management - Semester 2 - Part Time MBA Assignment
Digital transformation is proceeding apace, upending business models and transforming entire
verticals. Throughout it all, IT will continue to play a key role in the automation of everything
from arcane, back-of-the-house business processes to a peerless customer experience. IT
must be agile and dexterous enough to achieve these mission-critical goals while also adapting
to its dual roles of technical troubleshooter and top-level business enabler. Here’s a look at IT’s
role in the automation of “everything” and how it can succeed in the increasingly demanding
information age.
IT leaders could be forgiven for feeling like they’re being pulled in two seemingly
opposing directions at once. Still tasked with their traditional mandate of keeping the
lights on and ensuring smooth day-to-day business operations, they must now expand
into new—and in many cases uncharted—territory, as well, by spearheading innovative
and disruptive automation initiatives within the company.
As the entire business comes to rely heavily on technology for its long-term competitive
viability, IT can no longer afford for any of its processes to exist in isolation or apart from
the rest of the company for fear that those processes may impede necessary business
growth. Some IT leaders may find it worthwhile to foster external partnerships to cover
the operations side of IT, which has become commoditized to a certain degree, so that
they can adapt to their new responsibility of facilitating smooth and continuous digital
transformation.
Concurrent with the shift in IT’s role is the growing centrality of technology solutions that
are delivered as a service, with cloud providers assuming the burden of maintenance
and updates while IT concerns itself with the tricky task of bringing the big picture
together, integrating disparate platforms to create an organized, orchestrated whole—
securely and cost-effectively.
The result is that IT leaders must possess a sophisticated understanding of the business
and how it runs because their colleagues in other departments will depend on their
expertise for the successful rollout and enhancement of solutions tailored to their unique
and often specialized business processes. So, while IT is straddles two roles—the
practical and the transformational—it must also house and cultivate a unique
combination of hard skills, soft skills, and business acumen. That’s no small task for
anyone with an organizational leadership role, particularly one operating with lean
budgetary resources.
Enabling Organizational Agility Through Automation
How can IT meet these challenges? One path lies in enabling organizational agility. As
Forbes reports, 68 percent of organizations point to agility as one of their most important
initiatives. Accordingly, IT must create the capacity for ongoing digital transformation. To
do so, IT can employ automation, identifying manual processes that may pose obstacles
to this evolutionary step. Such transformation can be uncomfortable and even disruptive
at times, but it is absolutely necessary.
Paper- or email-based workflows are an obvious target for potential scrutiny, as are the
stubbornly persistent spreadsheets that ferry data from one system to another. Any point
of manual data entry or re-entry is prone to human error and likely to consume an
inordinate amount of staff resources, inhibiting the company’s ability to digitally transform
in enough time to keep up with the competition. Today’s IT leaders should employ
automation and artificial intelligence where possible to eliminate these resource
bottlenecks—within IT teams as well as within the broader organization—freeing
organizational resources that can then be channeled into bold innovations that move the
business forward.
Embracing a Future-Ready Approach to IT
Undertaking digital transition can be thankless and, frankly, exhausting work. It’s
certainly understandable if some IT leaders, having recently awakened to the reality that
digital transformation will continue to affect their business not just this year or next but for
the foreseeable future, are weary at the prospect of having to continually adapt to the
changing demands of their job. Yet, there’s no avoiding the reality they face. So IT, to
reach its own next stage of evolution successfully, must embrace automation and begin
cultivating organizational agility now. IT leaders who do so find themselves well
positioned to take full advantage of the many benefits that digital transformation, for all
its challenges, ultimately makes possible.
How automation and tech is important for business growth
Businesses could achieve up to $165 billion in cost savings by 2022 through the wide-scale
adoption of automation across sectors like automotive, retail, utilities, manufacturing, among
others, a recent survey said that conducts by Capgemini Research Institute conduct that.
Companies usually continually look for new ways to move up their business and maximize
profit. Significant growth of well-established companies and startups that we witness these days
has not remained a thing of wonder for anyone. It’s tech and automation behind their huge
success. If we look up to any successful firm, it’s common to find that their processes rely on
technology instead of human resources, be it a startup or big firms. Yes, SMEs feel shy to adopt
latest technologies quickly, but they are in the queue too and that’s the positive side which can’t
be ignored.
Technology and automation have become an integral part of human life that we, as consumer
often do not think about its impact. But, businesses wouldn’t lose any sight on revolutionizing
technologies that bring them an opportunity for improvement in performance and efficiency.
As many businesses are moving to build automation capabilities, McKinsey Global Survey
suggests that companies must first identify the functions that need tech intervention. The survey
brought insight that “although companies across industry and region are automating at least
some business processes, yet only a slight majority have succeeded at meeting their targets.”
Therefore, we can understand the success key here would be a strategic adoption of tech and
automation. It’s important for companies to identify the efficiencies and results automation
technology can produce, and the level of disruption the transformation will process.
In the field of business, words like software robotics, machine learning, artificial intelligence
have become common. It is the advances in these innovative technologies and other software
development platforms that allow companies to redefine processes and workplace automation.
Most businesses today (a) have some idea about what it entails and (b) understand that it is
important to embrace technology and automation.
The question then is, how can business growth be impacted by technology and does it even
make sense to adopt it. Take, for example, image uploading in facebook. Facebook suggests
you tag your friends at the time of upload or also suggest you tagging based on people in the
image. Facebook provides the feature to the users with the help of machine learning. In the
end, it makes uploading image faster and easier. Technology and automation play a similar role
in business operations management services.
Reduces Time —
Among many advantages of integrating technology in business is that help reduces the
time often took to do the same job. With the help of technology, a company can do far
more in a limited time without any dull work. Advances in computing systems vastly
reduce mundane tasks, simplify complicated things, and can handle vast volume of work
within minutes.
Productivity —
Because more can be accomplished in less or within time, grasping innovation expands
productivity to an enormous extent. Technology additionally opens up the individual to do
more substantial jobs, if the everyday practice, a value-based part can be computerized.
This prompts better usage of one’s skills, which thusly could inspire more productivity.
For a business, it can likewise mean lesser manpower requirements to get the same
amount of job done.
Efficiency —
Technology has implied machines now complete tasks that require a high level of
effectiveness and precision. The innovated computing system can enable a business to
improve capabilities across functions — from manufacturing to marketing and ensure
expensive errors are kept from occurring. This thusly can add to business development.
Insights —
Technology additionally demonstrates significant experiences about the business. By
transforming data and numbers into substantial and vital information, organizations can
utilize it to land at strategic and calculated decisions. Advancements in technologies like
big data analytics could be used in the decision-making process and ensure business
development.
While there are many more advantages to companies, the next logical question would be what
aspect of a business should innovation and automation touch? Though the simple answer will
be ‘every aspect’ of a business. Take, for instance, the process of a fintech or financial firm.
As indicated in an article titled, “Bots, algorithms, and the future of the finance function”
by McKinsey & Company, “Finance organizations perform a wide range of activities, from
collecting basic data to making complex decisions and counseling business leaders. As a result,
the potential for improving performance through automation varies across sub-functions and
requires a portfolio of technologies to unlock the full opportunity.”
The article proceeds to state that applying a similar approach outlined in the McKinsey Global
Institute’s automation research, the writers, Frank Plaschke, Ishaan Seth, and Rob Whiteman,
discovered that as of now available technologies can fully automate 42 percent of functions in
finance organizations and mostly automate a further 19 percent.
For organizations thinking to consider technology and automation, the key is to recognize the
areas that need tech intervention, the efficiencies and results it can produce. When these three
factors are accounted, a business should not hesitate to embrace innovation and automation
essential for success.
Looking Ahead —
If your company has not yet created a plan for automation throughout the enterprise, you
can walk on some steps to reap the rewards of automation.
Prioritize Automation —
Organizations that are simply propelling automation projects would profit by making
automation a key from the start. Approaches to place this in action incorporate defining
clear strategic objectives for tech adoption, having an executive sponsor for the program,
and focusing on automation work with developing a complete knowledge about the costs
and benefits to make automation an enterprise-wide strategy instead of just implementing
in functional, mandate way.
How Has Information Technology Been Used for Automating Business Processes?
Email
Businesses use mass emails to disseminate information to employees. For example, the
Mail Merge function in Microsoft Outlook can send an email to multiple recipients. Unlike
a physical bulletin board in the workplace, businesses can use email to disseminate
information to anyone in the world with an Internet connection. Mass emails also save
time by avoiding the need to make phone calls on a one-on-one basis when employees
are away from the office.
Customer Service
Some businesses set up an automated help desk to handle customer service. Online
customer-service software saves time in much the same way as automated phone
systems. However, you can create a complete Knowledge Base online that is often more
helpful than an automated phone system, as there's room to provide highly detailed
instructions or tutorials on technical issues. Online customer-service software also
typically has a system for submitting support tickets if a customer cannot find an answer
in the Knowledge Base. Examples of software for online customer service include
Kayako, Parature and Zoho. Prices, as of the date of publication, start at around $25 per
month, though some have a free trial or a limited free version.
Shopping Carts
Online shopping carts automate the development of a customer database. When a visitor
wants to purchase a product online, the shopping cart software automatically takes the
order and asks for his personal information. The shopping cart aggregates all customer
information into a database which the business can then manage as it sees fit. Web hosts
typically provide a shopping cart as part of their hosting packages at no extra charge.
Fees for hosting packages start at around $5 per month, as of the time of publication.
Examples of shopping carts include CubeCart, Zen Cart and osCommerce.
CRM Software
Software for customer relationship management, or CRM, streamlines the sales process.
For example, when a company puts a business prospect into the database, the software
can automatically place the prospect into several different databases, such as a schedule
for follow-up marketing calls. This saves time on data processing. A company can also
provide access to the system to members of the sales staff and management team,
which saves time on document sharing and administration. CRM examples include
SugarCRM, Oracle's Siebel and Microsoft Dynamics. Prices vary widely based on the
size and needs of the company.
ERP Software
Large companies can purchase software for enterprise resource management, or ERP.
This software contains different modules designed to handle a particular facet of the
business. For example, CRM is one module in some ERP software products. Examples
of other modules include human resources, accounting, inventory and distribution. Each
module acts as a repository of information for the organization's members. Like with sales
data and CRM, this saves time normally spent on database management and information
sharing. ERP examples include 3i Infotech, Oracle E-Business Suite and Sage ERP X3.
Prices depend on factors such as how many modules are needed and the size of the
organization.
This Insight highlights some technology trends that are shaping the new business environment
with specific reference to India’s pharmaceutical sector. Clearly, technology implemented at the
micro level will impact the macro level. When deploying new technology brings quantifiable
benefits for one domestic company, other domestic companies will also adopt it; then
companies in other countries adopt it and the global reach expands.
Deploying Technology in the India Pharmaceutical Sector
The pharma sector in India needs to take a closer look at both new operational technologies
(such as wireless sensors and automation) and new information technology (ERP, EAM, MES,
SCM, IoT, etc.)
Increased automation can help the pharmaceutical industry make more efficient usage of
energy and raw materials; improve safety in working conditions; enhance regulatory
compliance, and improve both product quality and consistency. Information technology brings
in the much–needed interconnectivity between equipment, operations, and people.
India’s IT and pharmaceutical sectors are closely linked. While lower cost competitors are
emerging in this space, India remains a favored destination for IT outsourcing; while India’s
pharmaceutical industry is the world’s third largest in terms of volume. Today, India’s
pharmaceutical industry is implementing technology for process management, data analytics,
content management, identifying cost-effective therapies, and to engage with the healthcare
providers and customers.
IT and operational technologies (OT) in the pharmaceutical industry decreases the manual
work, enables e-documentation, improves competitiveness, and reduces time-to-market.
Automated IT systems or IT-supported automated processes for this sector include: enterprise
resource planning (ERP); electronic batch record systems (EBRS); manufacturing execution
systems (MES); quality management systems (QMS); and mobile technology, to name a few.
ERP is an integration between human resources, BOM (bill of materials), and demand
that is sent to the production system.
EBRS supports automatic data capture and storage, exchange of batch information,
batch records management, and report generation to increase operator productivity and
accuracy.
MES deployment streamlines process operations by applying production management
functions such as production execution, material tracking, resource management, batch
production management, and electronic work instructions. These applications have
enabled facilities to transition from paper-based systems to digitized, paperless
operations; improving efficiency and reducing inaccuracies in manufacturing.
QMS, the crux of any quality and compliance process, can be part of the MES
technology. Documented evidence of quality production is essential. An automated
QMS reduces audit times and risk of recalls by the FDA/ISO and other regulatory bodies.
Mobile technology is being implemented for manufacturing applications for notifications
and alerts and increased visibility.
IIoT-enabled technologies and approaches can be used to support smart serialization,
raw material and finished product tracking, predictive maintenance for processing
equipment and other manufacturing assets, as well as R&D and patient experience.
Strides Arcolab took an integrated approach using a “galaxy of systems” with the core focus on
manufacturing surrounded by a layer of manufacturing execution systems (MES). These
include laboratory information management systems (LIMS), quality management systems
(QMS), building automation and control systems (BMS), and warehouse management systems
(WMS). According to the presenter, this IT-OT convergence approach resulted in world class
manufacturing and a total business transformation.
Recommendations
Technology can play a pivotal role in driving success in India’s pharmaceutical industry and
some companies are already on the right path. However, as technology advances, there are
associated risks and challenges when it comes to security and data privacy in the
pharmaceutical industry. The security angle must be addressed by all pharmaceutical
companies via investment in IT and developing a culture of prevention. And, of course, the
potential benefits of implementing new technology must be balanced against the cost, time,
and effort required to validate new equipment, systems, and/or processes to meet US FDA and
other governmental requirements.
The lines between IT and OT are blurring as the “3Cs” - connectivity, communication, and
collaboration are now recognized as business enablers.
Based on ARC research and analysis, we recommend the following actions for owner-
operators and technology providers:
For Owner-Operators:
New technologies and ways of doing business are reshaping the business landscape.
Adopt or lose the race
The initial investment in new technologies may seem high; but the long-term benefits
typically justify the investment
Learn from the strategies and best practices of your competitors. If it has worked for
them, it could for you too
Automation and information technologies can work together to help reduce costs, reduce
errors, and improve manufacturing and business processes
Create awareness about the new technology and how it will help streamline processes
On-site pilot demonstrations of the product/process will be more effective in convincing
the prospective user
Develop and document case studies of successful implementation
Update existing customers
Provide prompt after-sales service to nurture customer relationships
Offer built-in cybersecurity, where possible, and do everything possible to simplify the
validation process for your customers