Making Compliance a Strategic Advantage, Not a Cost Center

Many organizations view regulatory compliance as a necessary evil that adds overhead costs but little strategic value. However, with the right approach, compliance can become a transformative program that reduces risk, drives efficiency, and strengthens trust.

In this guide, we’ll explore strategies for making compliance a strategic advantage rather than a cost center. By taking an offensive rather than defensive stance, compliance can move from burden to business accelerator.

Build Around Key Industry Standards

Construct your compliance program using widely adopted frameworks like SOC2, ISO 27001, and NIST CSF rather than reinventing controls. This cost-effectively meets baseline requirements for your industry.

Then assess additional regulations unique to your business and location. The standards serve as the foundation complemented by supplemental controls that address specialized risks.

Automate Manual Processes

Leverage automation capabilities to embed compliance controls into processes like infrastructure provisioning, access management, and application development. Policy as code tools like Chef InSpec verify compliant configs.

Automation reduces reliance on after-the-fact auditing and expensive remediation. Compliance becomes sustainably built into operations rather than added as a burden.

Shift Security Left Through DevSecOps

By addressing compliance requirements earlier in application development, issues get resolved before reaching production. Security champions can provide guardrails and automated testing gates in the SDLC pipeline.

This DevSecOps approach cuts rework costs while ingraining secure software practices. Make compliance involvement a partner to developers rather than a roadblock.

Advertise Compliance to Customers

Achieving advanced certifications like ISO 27001 signals to customers your trustworthiness as a partner especially for industries handling sensitive data. Promote certs on your website and in RFPs.

Security-conscious customers will proactively seek out compliant vendors over competitors with ambiguous security. Turn compliance into a sales advantage.

Unify Across Hybrid Environments

Leverage cloud reliability and automation to bring consistency across on-prem and cloud environments. Platforms like Azure Policy and Azure Arc extend compliance guardrails to servers and workloads anywhere.

Reducing tool sprawl drives efficiency. Unified compliance architecture also enables holistic data protection, risk management, and auditing across your hybrid footprint.

Reframing compliance as a strategic initiative with payoffs beyond just avoiding penalties opens new opportunities. Partner with our GRC experts at DBGM to transform compliance at your organization.

Transform Your Organization Through AI-Driven Automation: A Practical Guide

Many companies today are still burdened by manual, inefficient processes that hold back productivity and innovation. AI-driven automation presents a tremendous opportunity to digitally transform these processes to unlock new levels of speed, quality, and customer value.

In this practical guide, we’ll explore strategies and real-world examples to inspire your automation journey. With the right approach, AI can inject automation throughout your organization to reduce costs, accelerate operations, and delight customers.

Step 1: Identify High-Value Automation Opportunities

The first step is methodically evaluating processes across every business function to pinpoint areas ripe for automation. Cross-functional input is key, as perspectives from IT, operations, customer service, finance, HR, and other groups reveal different needs.

Common automation opportunities include:

  • Repetitive data entry/updates across systems
  • Employee onboarding and offboarding
  • Invoice processing and approvals
  • Customer support interactions
  • Marketing campaign setup and reporting
  • Sales lead qualification
  • Financial reconciliations
  • IT ticket handling and triage

Step 2: Automate Where it Matters Most

With many potential automation ideas uncovered, prioritize opportunities that will have the greatest business impact. Factors like process importance, time spent, and cost savings help determine where automation will be most valuable.

For example, a retailer automated refund processing, which provided fast ROI by eliminating 50,000+ hours per year agents spent on this common task. Quick wins build automation momentum.

Step 3: Design End-to-End Automated Workflows

With targets chosen, design the envisioned end-state workflow powered by AI automation. This includes defining trigger events, data inputs, process steps, system interactions, error handling, and outputs.

Thoroughly mapping out these workflows on paper first, before any coding begins, is an important best practice. This upfront visualization clarifies how the automated processes should operate optimally.

Step 4: Build and Deploy AI Automation Capabilities

Next, it’s time to make the AI automation magic happen through development work. Robotic process automation (RPA) tools from leaders like UiPath and Automation Anywhere enable building software robots rapidly by demonstrating workflow steps.

Machine learning models can also be incorporated to handle unstructured data like categorizing support tickets or scanning documents. Leverage cloud services like AWS, Google Cloud, and Azure to scale automation footprint quickly.

Step 5: Monitor and Refine AI Automation Over Time

Like any technology project, expect an iterative process of continuous improvement once initial automation capabilities are live. Rigorously monitor performance indicators like cycle times, output quality, and system usage to identify enhancement opportunities.

Refine both the automated workflows and ML models based on real-world feedback to drive step-level efficiency gains over time. Expand scope by rolling out automation to additional process variants and geographies.

Real-World AI Automation Examples

Now let’s look at some inspiring examples of AI automation in action across various industries:

  • Financial services: JPMorgan automated over 360,000 hours of manual work in its consumer lending division using RPA and machine learning. Bots handle loan adjustments, interest recalculations, fee assessments, and more.
  • Retail: The floor care company Dyson built an RPA platform that automates order processing, supply chain operations, HR tasks, and other workflows. Process times have sped up by 2-3X with improved accuracy.
  • Healthcare: Automation Anywhere’s bots at Blue Shield of California execute time-sensitive claims processing steps, reducing manual work by 73% while boosting staff satisfaction.
  • Technology: Cisco’s “AUO” automation platform conducts employee onboarding including system access provisioning and equipment delivery. Onboarding completion time decreased from days to just hours.

The time for AI-driven automation is now. Follow the practical steps in this guide to scope, prioritize, design, and deploy automation in your organization. Partnering with experienced automation consultancies can accelerate this transformation journey. Contact DBGM to discuss launching your automation initiative today.

Making the Business Case for AI: 6 Benefits You Can’t Afford to Ignore

Artificial intelligence (AI) has evolved from an innovative technology into an essential tool for business success. Companies across industries have realized game-changing benefits from applying AI’s capabilities. In this article, we’ll provide an in-depth look at 6 major ways AI can transform your organization.

Automating Manual Work Unlocks Exponential Efficiency Gains

One of the clearest applications of AI is automating repetitive, rules-based tasks to free up employee time. Technologies like robotic process automation (RPA) allow businesses to configure “software robots” to handle high-volume manual work without human involvement.

For example, an insurance firm used RPA bots to take over new policy data entry. This tedious process had required an employee to manually enter all details from submitted applications into the company’s policy administration system. With over 1,000 new applications each week, this manual data entry work alone required 60 minutes per application, or 1,000+ hours per week.

By deploying RPA bots, the insurance company automated the data entry process nearly end-to-end. The bots can log into the policy admin system, extract submitted application details, and populate all relevant fields just like a human operator. This cut the processing time down to just 9 minutes per application, saving over 15,000 hours annually previously spent on repetitive data entry.

Similar dramatic productivity gains from RPA have been achieved across other document-intensive processes like HR onboarding, claims processing, and more. AI enables the virtual workforce to scale endlessly. According to Deloitte, RPA can reduce process costs by 25-50% while boosting throughput capacity by 40-60%.

Hyper-Personalization Transforms Customer Experiences

AI allows businesses to deliver customized experiences and messaging tailored to each individual customer. Retailers have widely adopted AI techniques like machine learning algorithms to understand every customer’s unique interests based on their behaviors and purchase history.

Starbucks, for example, leverages AI to provide personalized, timely offers to reward members through their mobile app. When a loyal customer hasn’t visited in some time, the app might send an enticing promotion to incentivize them to come back. For customers showing interest in breakfast items, the app will display relevant morning offers.

By continuously analyzing every customer’s full history and preferences, Starbucks’ AI engine identifies promotions and messaging that are highly relevant for each person. This personalized engagement strategy keeps customers delighted and loyal to the brand.

Extracting Hidden Insights from Data

The massive amounts of data generated by modern businesses hold valuable insights that can transform decision making. But finding relationships and patterns within huge data sets requires sophisticated analytics. Human minds simply can’t process so much complex information.

AI techniques like machine learning are perfectly suited for unlocking insights that would otherwise remain hidden in the vast sea of data. Retailers have been at the forefront of applying AI to derive actionable intelligence from point-of-sale, inventory, website traffic, and other data streams.

By analyzing purchase histories, pricing data, promotions, inventory levels, and external factors, retailers can construct AI models to accurately forecast demand across product categories. This allows them to optimize stock levels to avoid having too little (lost sales) or too much (wasted inventory). Continuously refined forecasting models also allow stores to estimate optimal future staffing needs.

Predicting Outcomes with Greater Precision

AI takes predictive analytics to new heights. Today’s machine learning algorithms can process millions of data points to predict future outcomes with a high degree of precision. AI is transforming prediction across areas like demand forecasting, predictive maintenance, healthcare risk assessment, credit risk scoring, and much more.

For example, a major utility company developed AI models to analyze sensor data from its electrical transformers and accurately predict failures up to 9 months in advance. By proactively repairing transformers before they fail, the company has prevented thousands of power outages. The AI system identifies common precursor patterns like voltage fluctuations that indicate an impending breakdown.

Their data scientists built these complex machine learning models using 10 years of historical sensor data that detected patterns even seasoned engineers had not recognized. The system has reduced transformer failures by 35% since its deployment.

Maintaining a Competitive Edge

Given the enormous performance improvements AI enables, companies that fail to adopt AI risk falling behind competitors who will leverage these technologies. AI is becoming essential just to keep pace in today’s fiercely competitive business landscape across every industry.

Leading retailers like Amazon and Walmart have made massive investments in AI to optimize critical functions like personalized recommendations, supply chain operations, inventory management, and more. These AI capabilities help Amazon and Walmart cement their competitive dominance in retail.

Mid-size retailers now face pressure to pursue AI initiatives of their own. Those that fail to do so will struggle to match the performance of AI leaders. They are likely to lose customers and market share over time.

Enabling New Data-Driven Business Models

Rather than merely enhancing existing processes, AI can open up entirely new business model opportunities. For example, manufacturers can shift from selling standalone products to selling outcomes through AI-powered services.

Jet engine manufacturer Rolls Royce is a powerful example of how data-driven business models create new revenue streams. Rolls Royce is using AI-powered analytics to sell “power by the hour” services for aircraft engines. Rather than getting paid once for the engines, Rolls Royce gets paid for every hour of engine usage.

This usage-based model became possible by equipping engines with thousands of sensors that feed continuous performance data back to Rolls Royce. AI algorithms then analyze this data to detect needed maintenance before issues arise. By leveraging data and AI, Rolls Royce provides superior outcomes for customers and captures ongoing value.

The opportunities for new AI-driven business models are nearly endless. Every company should consider how they could use their unique data assets to deliver better ongoing services.

While the potential of AI is clear, most companies need help developing an AI strategy and roadmap. Our firm, DBGM Consulting, specializes in guiding businesses through AI journeys successfully. From introductory workshops to fully building custom AI solutions, our experienced team can help you chart the right AI course and deliver real business value. Don’t leave this vital technology sitting on the sidelines. Contact us today to discuss how AI can start propelling your organization forward.