Many organizations have accelerated their plans for digital transformation, driven largely by the COVID-19 pandemic and remote work conditions that appear to be the “new normal” moving forward. In the face of the “great resignation,” there is an increasing emphasis on and benefit from adapting to hybrid models of employees working both in the office and from home on a more permanent basis. The growth of those hybrid workforces is in turn driving the need for more efficiency. As a result, organizations are relying more heavily on process mining and AI to achieve their operational goals.
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The pressure to create efficiencies along with the pace of quickly evolving new technologies—including process automation and RPA to reduce human effort and artificial intelligence to guide processing and read documents—is driving digital transformation across industries.
There are, however, challenges to implementing a digital transformation. Budget overruns or negative-yielding ROIs can be very costly. But there are ways to help keep your project on track.
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Although last year had some negative effects on all classes of commercial real estate (CRE), it has provided possibilities for innovative CRE companies to utilize technology to get ahead of the curve.
A national consulting company recently published an outlook for CRE, where it mentions how intelligent automation technology can help CRE companies improve their margins. Companies adding intelligent automation technology for operations, transformation and data automation will position themselves as leaders in the customer experience.
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This is an exciting time to be part of SS&C, both for employees and our clients—especially for the wealth management and asset management sides of the financial services industry. Our traditional business of record keeping and transfer agency-related services is quickly evolving as we recognize our clients’ work every day to grow and retain assets. We want to partner with them (you) to do just that, as we future-proof our offerings and honor our commitment to the industry. We will do so while keeping modern and secure digital capabilities at the forefront.
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The retirement industry was already fast-paced and dynamic before 2020, as an aging population prompted providers to evolve their retirement plans and practices. Flexibility and efficiency have become standard as firms face increased competition, regulation and complexity. Layer in the uncertainties and catalysts over the past several months, and the pressure has only heightened.
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Amidst the COVID-19 pandemic, asset managers have done an excellent job of adjusting their service and communication response—in both strategy and execution—even if some scrambling has been involved.
In speaking with executives, following press coverage and observing third party communications, we have spent significant time thinking about our clients working through “digital transformations.” Although this pandemic brings more pressure, the timing enables firms to strategize and tactically plan their digital transformations.
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As the COVID-19 pandemic continues to take its toll across the globe, more and more companies are mandating that their employees work from home to ensure their safety and help flatten the curve.
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Change Management is a structured approach to shifting individuals, teams and organizations from a current state to a desired future state aimed at helping employees accept and embrace changes in their current environment.
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