Driving Digital Business with BPM and eSignatures

Efficiency and Speed with Digital Transaction Management

Creating a Digital Business
The Physical Office

The above photo of the office of the 1940s always amazes me.  How many icons of physical office workflow can you identify that are still in use today?  If you take a peek around your office, what do you see?  The file cabinet, the stapler, the 2-hole punch, the folder, paper documents, and God forbid a type writer.   We know these tools work, and they are time-tested, but they certainly come with a ton of drawbacks from an efficiency and speed of business perspective.  In a Forrester survey commissioned by DocuSign, respondents identified the top issues in dealing with analog processes:

  • Errors Due to humans and analog process – 50%
  • Cumbersome paper-oriented tasks such as scanning and document management – 44%
  • Difficulty collecting and managing documents from multiple sources – 42%
  • Difficulty administering and controlling documents over time – 39%
  • Lack of security over physical documents – 37%
  • Difficulty maintaining visibility on location and status of documents – 34%

With the highly competitive corporate landscape today, organizations just cannot conduct business at the “speed of paper”, and digitizing key operation processes has become mandatory.   One key area of focus has been Digital Transaction Management (DTM).  So what is DTM?  Below is the Wikipedia definition:

Digital Transaction Management
Wikipedia Definition of Digital Transaction Management

But DTM is just one piece of the pie when looking to drive operational efficiency.  DTM technologies, like DocuSign, can enable electronic signatures, but what about all the process pieces that surround getting a document ready to sign?  Adding a business process management suite with DocuSign integration can create a smooth process, and add the below value through standard BPM pillars:

  • Data Integration Layer – the pulling of information from existing line of business systems can help in the auto-creation of a signed document.  Take a contract process where account information is automatically pulled from CRM, instead of manually entering data.
  • Digital Forms – Forms can provide  consolidated work desk experience for document assembly, and provide for a review and approval interface.
Mobile ready electronic signature
Smartform eSignature
  • Workflow – a digital process can be standardized and managed through a workflow.  This can automate notifications, approvals as well as escalations during the document build, review and approval phases.  With the data it collects, it can also provide insight into the overall process.
electronic signature workflow
K2 DocuSign Workflow
  • Reports – Providing real-time process insight allows true management of any digital transaction process, as well as the ability to maintain historical data for audit and review purposes.

You can learn more on DTM and BPM at K2 and DocuSign Electronic Signature Process.

 

 

 

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Cool Infographic: Forrester No Code Platforms

Best No Code Platform

No Code Platforms are the Key to Rapid, Agile Development

Some snippets from a recent infographic on no/low code application platforms.  Click on any image to see the full graphic.

Drag and Drop Applications

 

Agility with No Code Apps

 

Design apps with no code

Forrester Report: Revenue, Customers and BPM

Forrester BPM Report-Revenue and Customers Shape Process Excellence

Revenue And Customers Shape The New Business Case For Process Excellence

This new Forrester report by Clay Richardson  focuses on the re-framing of Business Process Management (BPM) initiatives for not only internal process improvement, but also focusing enterprise architects on:

  • Accelerating customer acquisition and revenue
  • Protecting current business opportunities and revenue
  • Increasing up sell/cross-sell abilities

This ties into my previous post which gave an overview of the trends in BYOA and Customer Facing Apps.   The full report can be downloaded here:

Forrester: Revenue And Customers Shape The New Business Case For Process Excellence

Forrester Report Analysis: New Dev Platforms for Customer Facing Apps

Forrester Apps Report

Are no/low-code platforms the answer?

“In the age of the customer, everything runs as quickly as customers and markets – and software delivery must keep up.” 

Forrester

A recent Forrester report, “New Development Platforms Emerge For Customer-Facing Applications,” discusses how many companies are choosing low-code platforms over traditional hand-coded development platforms due to the speed with which low-code applications can be assembled, deployed and tested. With customer-facing applications at the top of IT priority lists, traditional programming platforms simply cannot keep up with the “short schedules and rapid change cycles” such applications require. The report goes on to discuss the challenges that application and development (AD&D) leaders face when formulating strategies for customer-facing applications, and advantages that low-code platforms provide, including the ability to lower barriers between requirements and delivery, and provide business leaders with a way to test and experiment with new ideas at a low risk and cost.

Want to read it all?  You can download the entire report and whitepaper here:

Forrester Report: New Development Platforms Emerge

Low-code Application Solutions for High-Turn Delivery