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In today’s dog-eat-dog business landscape, companies that can iterate product development faster and get products to market quicker are those that stand the best chance of success. Thanks to the growing trend of digital transformation, these faster speeds are usually due to better applications and technologies.
As companies of all sizes and industries seek to “digitally transform” their business, one trend in particular is drawing outsize attention: digital process automation. Traditional business process management (BPM) initiatives have focused on analyzing and optimizing processes within the realm of human capabilities. However, digital process automation flips the script with radical new technology-enabled advances that can improve the accuracy and speed of processes beyond the ability of any human employee.
Companies of all sizes and industries are attempting to "digitally transform" their business, but many of them lack a solid understanding of what digital transformation really is. Rather than using technology to supplement and speed up your traditional business processes, "digital transformation" refers to the enablement of new ways of working through technological innovation.
In the traditional model for developing software applications, programmers and business leaders would first sit down and hash out the specs for the application and then move sequentially through the coding, testing and release phases of development. This is called the "waterfall" model of software development because it always moves predictably from one level to the next, like a river that flows over a large group of rocks.