We could probably sum up the direction the financial services industry is headed in just two words: digital transformation. It’s the buzzy, all-encompassing focus and end goal of financial services organizations near and far, and it’s the big reason why many organizations are thinking about process automation with a greater sense of urgency.
There are plenty of excellent platforms and tools available to fuel digital transformation. Increasingly, too, they’re a low-code or no-code solution: a suite of software that can build automation, analytics & applications from the ground up without extensive development skills. These tools level the playing field for businesses that want to automate unique processes, gather data and improve their customer and employee experiences.
In May 2023, Thomas Kronawitter, Head of Data-Driven Applications & Services at Grenke AG, joined Redgate CPO David Gummer at the Gartner Data & Analytics Summit to provide insights and advice based on his own digital transformation journey in financial services. This post highlights the key take-aways from David’s conversation with Thomas, including the strategies, challenges, and successes that shaped Grenke’s experience.
Hyperautomation is a holistic business-driven approach to automation that allows organizations to identify, examine, and automate almost all business processes. It involves the orchestration of disparate systems across various departments and delivers efficiency. Hyperautomation helps businesses leverage automation and enable a faster, more efficient, and effortless functioning of organizations.
From the tight global labor market to social and political volatility, macroeconomic headwinds continue to hamper business growth. Such a complex environment is anything but smooth. Your organization may be feeling pressure to deliver on initiatives to support talent, products and services, and business operations. Finding success in these areas requires digital transformation. Innovative companies are best positioned to prosper and thrive.
The Oil and Gas sector, responsible in part for two industrial revolutions in the last 300 years, has been something of a laggard when it comes to adoption of new technologies. Cloud and edge penetration in Oil and Gas is late compared to other industries, mainly due to long standing concerns around security and data privacy.