Business process reengineering was a consulting fashion in the early 1990s that spurred many companies to purchase their first ERP systems. BPR proposes a fundamental redesign of core business processes to achieve substantial improvements in market and customer responsiveness, productivity, cycle times and quality. ERP systems support business process reengineering by guiding the step-by-step execution of the redesigned process to ensure that it is performed consistently. They also automate the handoffs between individuals and departments to accelerate completion of that process.
Topics: Analytics, business intelligence, data science, Internet of Things, Mobile, Big Data, Data Integration, Machine Learning, Customer Experience, Customer Analytics, digital technology, Machine Learning and Cognitive Computing, Wearable Computing, Digital Marketing, Digital Commerce, Office of Finance, Continuous Planning, ERP and Continuous Accounting, Financial Performance Management, Operations & Supply Chain, Enterprise Resource Planning, Sales Planning and Analytics, Cloud Computing
“What’s next?” is the perennially insistent question in information technology. One common observation about the industry holds that cycles of innovation alternate between hardware and software. New types and forms of hardware enable innovations in software that utilize the power of that hardware. These innovations create new markets, alter consumer behavior and change how work is performed. This, in turn, sets the stage for new types and forms of hardware that complement these emerging product and service markets as well as the new ways of performing work, creating products and fashioning services that they engender. For example, the emerging collection of wearable computing devices seems likely to generate a new wave of software/hardware innovation, as my colleague Mark Smith has noted. This said, I think that the idea of alternating cycles no longer applies. It would be convenient if we could assign discrete time periods to hardware dominance and software dominance, but like echoes as they fade, the reverberations are no longer as neatly synchronized as they once were. Moreover, adoption and adaptation of technology by consumers reflected in the design of work, products and services always lags – and lags in different ways, further blurring the timing of cycles.
Topics: Analytics, Business Analytics, Business Collaboration, Business Performance Management (BPM), close, closing, Cloud Computing, computing, Customer Performance Management (CPM), ERP, finance, Financial Performance Management (FPM), FPM, Management, Mobile, Operational Performance Management (OPM), Performance Management, Predictive Analytics, Reporting, Sales Performance Management (SPM), Supply Chain Performance Management (SCPM), Wearable Computing, Workforce Performance Management (WPM), Office of Finance