By Jeff Dunnahoo

With the global pandemic, the ability to use digital technology to continue to support customers and clients has been critical. It is, however, important that we not lose sight of the customer as we focus on the technology. Your business processes and organization are as important to a digital transformation as the technology being implemented.

We do not want to automate a bad process. When considering automation, first consider whether that process is a good candidate. Some of the questions to explore might include these:

• Is the process largely rules-based, and are these rules clearly defined?
• Is it a high-volume process?
• Is the process regularly repeated?
• Does the process interact with one to three data sources?
• Can the process leverage document/character recognition technology?

Don’t assume you know what your customers want and what products/features they are using without checking your data. Avoid investments that only support “right now.” Think about where you want to be five years from now. Institutions are using tools to harness both internal and external data to drive real-time decision-making and improve performance.

The institutions that have had the most success driving their customers toward digital awareness and product use have an established leader for digital products and services. This role includes the following responsibilities:

• Owning the digital strategy of the institution, including the knowledge for digital features and functionality of current products and services, and the process to update that knowledge base as capabilities are changed/enhanced over time.
• Overseeing internal awareness of digital.
• Leading external awareness campaigns of digital capabilities for customers.

In addition to your customers, take into consideration the impact a digital transformation will have on your staffs. Resources in terms of available time and skillsets have to be gauged. Most organizations do not have unlimited budgets, so we must make choices on digital investments that will best support the overall business strategy. If we fail to do so, we end up with siloed priorities, wasted time and money, stressed and confused employees, poor deployments, and a negative impact on customers.

Don’t forget your back office when undergoing a digital transformation. They will certainly be affected by most initiatives. Here are a couple of examples:

• If you implement online transactions, ensure that back office processes to review and post accounts to the core are not manual; paper forms aren’t being printed just to scan back into the document management system after account opening; and manual forms aren’t still used for change of address and account maintenance processes.
• If you increase online application availability, ensure the decision-making process is streamlined and parameters for automated decision-making vs manual decision making have been considered. Also, ensure front-line staff are trained around any potential questions to lighten the burden on the back office and ensure manual forms aren’t still used.

When considering a digital transformation, there are several fundamentals to success. A strong, clear, and consistent message of support from executive management is an absolute must. This helps ensure team buy-in and support. Also, customize your process and timing to align with your ability to support change. Incenting staff to become more knowledgeable about your digital capabilities can lead to wider acceptance among the customer base.

Another tip is to tackle processes that will provide early results and clearly demonstrate value. Define metrics to measure success and incorporate reporting into a formal communication plan to share with team members and stakeholders. Adopt a change management methodology that recognizes dependencies between processes, teams, and tools.

We have all been called upon to embrace digital technology more fully. Don’t view it as a burden, but rather as an opportunity to develop better processes that leverage technology to improve your ability to serve your clients. Our experiences with remote work and remote customer support during the pandemic will accelerate the acceptance of digital channels and digitally enabled processes.

Jeff Dunnahoo is a director for RSM US LLP in Houston. He can be reached at jeff.dunnahoo@rsmus.com.

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