How DX Builds Business Resilience
"I don't know what I don't know."
Yawen Cui, Group Finance Director of Ovolo, an award-winning luxury boutique hotel group, recognises the challenge of navigating the unknown in her digital transformation (DX) journey. This challenge resonates across various departments, from HR to sales and operations.
In an era of continual disruptions and changing landscapes, the difficulty of selecting and integrating new technologies prevails, given the uncertainty of their lifespan. We speak to Yawen to learn her approach to making critical decisions and prioritising DX investments in her finance department.
When navigating constant change and disruption, how should organisations prioritise investments in people, technology and innovation?
When it comes to people, technology, and innovation, every aspect is important, so prioritisation is crucial. Assess the most critical elements, evaluate available resources, and focus on high-impact items by applying the 80/20 rule.
While some endeavours yield significant returns with minimal investment, technology often requires proper investment for a project to be successful. Aside from the willingness to allocate an initial investment, leaders must plan strategically.
All efforts should be geared towards leveraging the synergy between people and technology to sustain business continuity in the face of disruptions.
If disruption drives digital transformation (DX), how do you see DX building business resilience?
DX plays a critical role in breaking geographical barriers, providing the flexibility to complete tasks anywhere, anytime. It also expands talent pools and opens the business to new opportunities. Because we don’t know what we don’t know, business resilience is born from the experience of exploring the unknown. Understanding and acting upon different possibilities are the drivers of resilience derived from DX.
How important is it for organisations to understand their people’s needs when embarking on DX journeys?
Every workforce is diverse, and people in different roles have varying needs. The needs of a general user are going to be different from the needs of a team member who’s going to implement the solution. So, the scoping exercise and implementation journey are important. You need to clearly understand the needs of those users and make sure that adequate training is provided for all.
Training
Providing comprehensive training through reference materials and videos is essential. It shouldn't end with the initial batch of team members, as continuous training ensures continuity amidst workforce turnovers.
Implementation
Equally important is the actual implementation. Remember, the effectiveness of a technology depends on how people utilise it. Even a state-of-the-art system can fail if poorly implemented.
A successful rollout hinges on user proficiency, which is achieved through proper training.
How important is it for businesses to continuously innovate to maintain a competitive edge?
This is absolutely critical. People need to constantly challenge the status quo. In a rapidly changing business landscape, what has always been done in the past may not be the best way forward.
Constant innovation is vital to meet evolving needs. While we don’t want to keep changing goals, we must stay nimble. Any innovation we consider must be scalable and adaptable, as lengthy implementation periods pose the risk of making solutions obsolete.
What are your key principles for successful DX initiatives that drive more revenue?
For me, the three pillars are selection, implementation, and training. Decisions about choosing between best-in-market and multifunctional solutions require careful assessment because they can come at a cost.
Then there’s the question of who is going to spearhead the implementation and training. Having subject matter experts is essential for a successful rollout.
Change comes with a new set of challenges. What are some of the industry-specific challenges you faced in your DX journey?
There were a few key obstacles I experienced. Firstly, workforce transiency in the hospitality industry posed implementation challenges.
Another challenge I faced is what I call ‘I don't know what I don't know’. This makes the business discovery phase and working with experts who can guide you through the journey and make recommendations highly important. It’s difficult to understand the true potential of a solution without them. Lastly, integration issues between different technologies can also create some difficulties.
Being in a senior leadership position and embracing the future with resilience, what concerns do business leaders have regarding DX?
Speaking for myself, I was most concerned with the selection and the holistic view of adopting a particular technology. The uncertainty about a technology’s lifespan and resource availability for implementation are among my main concerns. So, there’s the question of: am I adopting the right solution? I often grapple with selecting scalable, non-redundant solutions.
How does DX improve your business’ adaptability to shifting demands?
Automating processes like Accounts Payable (AP) enhances data visibility and accessibility. This enables us to conduct business analysis with ease and navigate dynamic landscapes. We no longer waste time trying to find out where information is, a simple search provides what we need.
So, how would you best describe your DX journey with FUJIFILM Business Innovation Australia? Which solutions, products, or services have you implemented?
Leveraging M-Files and ABBYY FlexiCapture transformed our AP process. It has taken us from the manual processing of only 50-100 invoices a day to a lot more, thanks to automation. Because everything is now done digitally, including approvals, workflow efficiency, employee satisfaction, and supplier relationships have improved.
How does the team at FUJIFILM Business Innovation Australia help your organisation strengthen its business resilience with DX?
The FUJIFILM Business Innovation Australia team has been extremely helpful, surpassing expectations. Their recommendations on what needed to happen and how to best do it aligned perfectly with our business needs. Plus, the training and ongoing support that the team has provided have been absolutely amazing.
How and what impresses you most in terms of FUJIFILM Business Innovation Australia?
I’m very impressed with the products and service that FUJIFILM Business Innovation Australia delivered. It was about a year ago when I approached their team, looking to adopt a robotic process automation (RPA) solution for the coding of invoices.
When they reviewed my request, they said I don’t actually need an RPA solution to accomplish that, a document management solution like M-Files can achieve this. So rather than simply providing what I thought we needed, their specialists looked at our business problem and then recommended a solution accordingly.
This is how it should be because sometimes clients need expert guidance on the best route to get to where they want to be.
What are your DX goals in the short and long term?
In the short term, we aim to further digitise our workflows and eliminate paper, Excel spreadsheets, and PDFs. Long-term-wise, I would like to be looking at an automated procurement-to-cash process that would minimise human intervention and make the whole journey effortless and seamless.
Any advice for leaders navigating continual change?
Consider the 80/20 rule in DX initiatives. Take away the noise and prioritise what will generate the biggest impact. Also, carefully select and implement solutions properly, ensuring they align with business needs and steer clear of short-term redundancy