The pandemic has forced organizations to re-evaluate their existing business models to achieve their business goals.
In order to become successful in the new normal, you must be able to transform quickly and effectively to meet the changing needs of their customers. As such, enterprises are investing in new service offerings that capture value, deliver best outcomes and organizational plans that bring success.
As per the Forrester Consulting commissioned by Microsoft, many organizations are embracing project-based operations to deliver better service.
The focus of the study actually was to evaluate how organizations are taking advantage of the rise of service-centric business models. But, the study found that many enterprises are embracing project-based operations to streamline service delivery.
They also found that most organizations were held back by disjointed systems and data silos that had negative effects on improving customer outcomes, service quality and profitability. Therefore, enterprises are investing in flexible and scalable systems to unite the enterprise processes and lead them to success.
Three highlighted areas by Forrester
According to a Forrester online survey of global finance leaders with a strong influence on service, project teams and businesses, three areas where organizations struggle are highlighted here.
Business and social trends
With the onset of working from home, professional life and personal life became blurred. This compelled organizations to focus more on employee well-being, connectivity and introduction. Enterprises are trying to foster the existing work culture through better connectivity and convergence.
The new ways of working and growing environments have pushed organizations to move to cloud infrastructure to produce quality products and deliver better services. By investing in the cloud, you can provide enough resources to employees to succeed both in the professional and personal life.
Challenges such as supply chain issues and employee staffing thwart organizations from using service-centric business models. According to the report, 40% of organizations face challenges in keeping up with demand due to external supply chain barriers, lack of clarity and connectivity. All these prevent organizations from delivering projects on time.
Evolve business models
Organizations must evolve their business models to thrive in the modern environment and unlock new revenue streams. When interviewed, most of the respondents replied that they are looking for ways to strengthen their financial models for efficient customer transactions and financial management.
Moreover, respondents also focus on enhancing strategy and planning, team collaboration and the well-being of employees. To achieve all these, you must provide employees with right capabilities to enable considerable growth and customer obsession.
Change business dynamics through technology solutions
With the societal trends having a direct impact on businesses, it is important for organizations to focus on brand trust, hybrid work, and workforce demands. These enable organizations to adopt a technology solution that will make them more connected, adaptive and faster.
This has enabled most of the organizations to invest in cloud, SaaS (software as a service), IaaS (Infrastructure as a Service), IOT (internet of things), AI (artificial intelligence), automation and business applications such as CRM and ERP. Organizations will continue to respond to the business changes through technology investments.
Lets briefly touch on important facts that enable companies to address these challenges to adopt service-centric models
Forrester consulting suggests that:
- You need to take a proactive and comprehensive approach to business model innovation. A perfect innovation model gives insights into operational processes and also provides employees the modern workplace tools and environments to improve business processes
- By investing in technologies that improves collaboration and communication across various departments, organizations can enable connectivity. With right tools, companies can improve profit visibility by measuring the progress of their team. The solution you can rely on to maximize financial visibility and profitability is Microsoft Dynamics 365 Finance.
- Right partners helps you improve project-based operations. They will have a proper understanding of your project requirements. The technology investments should support your business objectives.
In today’s business landscape, it is important for enterprises to deploy service-oriented business models. To achieve this, companies need visibility into their whole business operations such as the projects, business processes and data. Due to disconnected data and systems, organizations lack this connectivity and visibility.
You can use advanced applications such as Microsoft Dynamics 365 Finance and Dynamics 365 Project Operations for project-based operational models. D365 Finance can help you make improved financial decisions.
Dynamics 365 Finance and Dynamics 365 Project Operations
Dynamics 365 Finance provides comprehensive visibility into your financial performance. With latest features and capabilities, it helps you improve your business health. D365 Finance can be combined into your important business processes and automate tasks to accelerate employee productivity, support growing business models and increase financial performance. The application helps you reduces costs with features like budget control, finance intelligence, process automation, planning and analysis.
Dynamics 365 Project Operations provides visibility, collaboration and agility across your project-oriented business, from prospects to cash to profits. It comes with advanced Microsoft’s project management capabilities like Gantt charts and Kanban boards to flexibly manage projects. Project Operations ensures skilled people on the right projects through scheduling, skills matching, and resourcing insights.
Team up with Microsoft Gold Partners
With these tools you can enable business model innovation to deliver value to your customers.
Allowing you to meet their ever-changing demands and expectations. To implement Microsoft Dynamics 365 Solutions, you can approach Microsoft Gold Partners.
If you have business across Middle East, Asian, North America, or African Countries, ensure you partner with an experienced and reliable Microsoft Dynamics 365 Partners in UAE, Saudi Arabia, Oman, Qatar, Bahrain, Kenya, Germany, Canada, Pakistan, and India to get the solution deployed.