3M, Allied World Insurance, DBS Bank, Duke
Energy, ENGIE, MTN Group, and Pfizer Recognized for Their
Cutting-Edge Digital Transformation Achievements
The Hackett Group, Inc. (NASDAQ: HCKT) today announced the
winners of its 2022 Digital Awards, which spotlight companies that
are on the cutting edge of creating competitive advantage and
delivering measurable benefits at scale using digital
transformation solutions. These leaders often combine
customer-centric automation, advanced analytics, and artificial
intelligence (AI) to hyper-automate end-to-end business processes.
This year’s winners, and their win categories, are: 3M
(Purchase-to-Pay), Allied World Insurance Company
(Market-to-Opportunity), DBS Bank (Business Operations), Duke
Energy (Plan-to-Source-to-Make-to-Deliver), ENGIE (Order-to-Cash),
MTN Group (Source-to-Purchase), and Pfizer (Hire-to-Retire).
According to Vin Kumar, managing partner and Digital Operations
Advisory practice leader at The Hackett Group®, “This year’s
Digital Award winners have delivered significant benefits and
demonstrated the multiplier effect that is enabled by digital
transformation across end-to-end processes. What is surprising is
the scale, both in terms of benefits and process breadth, and the
speed of implementation. The sophistication of the end-to-end
digital solutions that companies are able to implement is clearly
growing exponentially.”
According to Gilles Bonelli, associate principal and European
Finance, EPM & Analytics Advisory practice leader, “This year
we’re seeing a much broader range of top-line and bottom-line
benefits and greater overall business impact. Companies are finding
they can truly implement solutions that effectively integrate AI,
automation and analytics.”
The following abstracts are drawn from the applications
submitted by these 2022 Digital Award winners:
3M Company – Winner, Purchase-to-Pay -- Procurement Process
Reconciliation via Automation
3M, the $35 billion global material science company, built a
hyper-automation (RPA + Workflow + AI) solution to optimize the
process that match invoices, purchase orders and goods received.
This hyper-automation solution uses a Blue Prism bot integrated
with 3M ERP system, Salesforce, a cognitive reconciliation engine
to resolve mismatches, and Power BI process analytics – all hosted
on an Azure cloud. This resulted in improved productivity, employee
satisfaction and stronger return on investment for the company.
Allied World Insurance Company, Powered by Infosys BPM –
Winner, Market-to-Opportunity – Underwriting Preparation
Services
The United States direct underwriting team of Allied World
Insurance Company partnered with Infosys BPM to streamline the desk
of production underwriters to optimize workflows by providing
time-saving digital tools. The pre-underwriting process can be
time- and labor-intensive drawing away from the core underwriting
analysis and decision-making. The digital tools have allowed
underwriters to respond faster to our brokers and clients with
meaningful solutions for our partners’ needs.
DBS Bank – Winner, Business Operations – Automated Financial
Analysis (AutoFIN)
DBS Bank’s Institutional Banking Group’s relationship managers
prepare detailed financial analysis that accompanies each credit
application. The previous process was manual and time-consuming for
relationship managers to execute.
To streamline this process, developers at the $59 billion
Singapore-headquartered bank built AutoFIN, an advanced tool that
has automated much of this preparation work and generates a first
draft financial analysis for relationship managers. AutoFIN has
reduced the time that relationship managers spend on this task by
approximately 30%, giving them more opportunity to focus on
higher-value tasks such as building better client relationships.
The consistent format generated by AutoFIN also reduces the risk of
human error and streamlines analysis and decision-making. “Forget
about going through tons of paperwork – AutoFIN can really change
the way we work,” said Tan Su Shan, group head of Institutional
Banking for DBS.
DBS developers say that in addition to saving a great deal of
time, AutoFIN has generated a 72% return on investment since its
rollout in June 2021.
Duke Energy – Winner, Plan-to-Source-to-Make-to-Deliver –
Health & Risk Management Application
The company, which serves 8.2 million utility customers, had a
problem: how to keep tabs on 31,000 miles of interstate
transmission infrastructure, including 30,000 transformers,
regulators and circuit breakers.
It was a monumental job. Duke Energy’s asset management
professionals and subject matter experts needed to gather
information from at least six different sources to get a picture of
the state of the 1,000 separate assets each of them had to monitor
– a time-consuming and tedious task that took three to four weeks
to complete. It was so much work that the company could only
complete a full inventory once a year, not often enough to make
cost-effective condition-based maintenance possible.
Duke Energy’s Health & Risk Management (HRM) application is
changing all that by identifying performance anomalies early,
making it possible to plan repairs sooner and avoid costly outages.
“HRM enables Duke Energy’s transmission group to implement more
predictive maintenance, much like a modern automobile with onboard
diagnostics that trigger specific maintenance actions. With this
capability, we can move away from time-based activities and
schedule work only as needed,” said Ben I. Harrison Jr., vice
president for Transmission Engineering and Asset Management at Duke
Energy.
Company executives say the application is on track to yield a
return on investment in excess of 25% but note that they have about
30 months to go to reach the end of their projected 60-month
payback period.
ENGIE – Winner, Order-to-Cash – Transforming Utility
Operations Digitally, Powered by Digitate
ENGIE, the $60+ billion French utility provider, needed to
reduce the number of errors in its accounts, including problems
with incorrect invoicing, missed payment processing and
inconsistent payment records – a tall order for a global company
with 170,000 employees that serves 8.5+ million retail customers in
its business-to-consumer unit alone.
Digitate, a SaaS-based autonomous enterprise software provider,
deployed its ignio™ AI.ERPOps to enhance ENGIE’s automation
capabilities for several key functions, including validation of
meter reads, bill calculation, streamlining of payment postings and
refunds, and blocking of erroneous late penalties and incorrect
invoice amounts. Robotic processing automation was used whenever
direct integrations such as application programming interfaces were
not possible. Once ignio™ identifies a problem, it uses its
mechanisms to reduce approximately 90% of the instances of that
problem across the system.
The 18-month project paid for itself within the first month of
its launch, and to date has delivered (€)4.2 million in revenue, a
95% reduction in issue resolution and automated handling of 150,000
bills daily with minimal disruptions. According to executives,
implementing the new system has improved operations, lowered costs,
and driven higher customer satisfaction and retention.
MTN Group – Winner, Source-to-Purchase – Predictive
Procurement for Strategic Sourcing
Global Sourcing and Supply Chain (GSSC), the procurement arm of
the MTN Group, Africa’s largest mobile network, knew it was leaving
money on many different tables. With 10+ different ERPs and no
synchronization between the local and group procurement units, they
were missing many opportunities for volume and bundled discounts.
In addition, a similar diffusion of procurement data meant that
analysts were making many non-optimal sourcing decisions.
To solve these problems, the GSSC developed: GeSSICa, an
AI-powered chatbot that stays informed by observing a variety of
company data streams; robotics process analytics focused on 15
high-impact business processes; a recommendation engine looking for
value leakage across the group; and a decision-support application
steeped in game theory that supports combinatorial negotiations
with other vendors in complex multi-unit tenders in part by
simulating 50+ million negotiation scenarios.
These initiatives led to the automation of 15 important
processes that reduced cycle time by 80% and automated 10 manual
data preparation processes, reducing cycle time by 95%. So far,
process automation has returned 130% return on investment, with
manual task automation not far behind at 115%.
Pfizer – Winner, Hire-to-Rehire – Reimagining Talent
Acquisition
Pfizer innovates every day to help make the world a healthier
place. Recently, they set out to reimagine hiring and focused on
unleashing the power of its people by simplifying tasks through
design thinking, technology and cross functional collaboration.
The solution’s core is powered by HiredScore’s distinct
recruiter and manager user interfaces. Recruiters are equipped with
AI that provides real-time analysis and applicant prioritization
based on job requirements. These insights have helped recruiters
review applicants 65% faster. The AI-based Hiring Manager solution
provides a simplified, connected experience accelerating candidate
selection. HiredScore’s Talent Orchestration Layer seamlessly
connects Pfizer technologies with two-way integrations and data
flows, providing hiring teams more efficiency, including viewing
fully integrated HireVue “On Demand” videos.
Embedded in both experiences is the ability to rapidly schedule
interviews leveraging Paradox’s conversational AI assistant
“Olivia.” Integrations with Pfizer systems enable almost complete
automation for this once time-consuming task, reducing the time to
schedule interviews by 80% and earning a 98% satisfaction
rating.
The overall return on investment is an impressive 142%, based on
hiring manager task hours saved. “The implementation of our
Reimagine Recruitment transformation directly supports two of our
key enterprise-wide objectives. First, to create room for our
colleagues to do more meaningful work. Second, to make our work
faster and easier using the latest in innovative digital
technologies,” explained Domenica Askeland, vice president of
Global Business Services Colleague Services at Pfizer.
About The Hackett Group
The Hackett Group, Inc. (NASDAQ: HCKT) is an intellectual
property-based strategic consultancy and leading enterprise
benchmarking firm to global companies, offering digital
transformation, including implementation of leading enterprise
cloud applications, workflow automation and analytics that enable
Digital World Class™ performance.
Drawing from our unparalleled IP from nearly 20,000 benchmark
studies with the world’s leading businesses – including 97% of the
Dow Jones Industrials, 94% of the Fortune 100, 70% of the DAX 30
and 51% of the FTSE 100 – captured through our leading benchmarking
platform, Quantum Leap® and our Digital Transformation Platform
(DTP), we accelerate best-practice implementations.
More information on The Hackett Group is available at:
www.thehackettgroup.com, by emailing info@thehackettgroup.com, or
by calling (770) 225-3600.
The Hackett Group, quadrant logo, World Class Defined and
Enabled, Quantum Leap, Digital World Class and Hackett
Excelleration Matrix are the registered marks of The Hackett
Group.
Cautionary Statement Regarding “Forward-Looking”
Statements
This release contains “forward-looking” statements within the
meaning of Section 27A of the Securities Act of 1933 as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.
Statements including without limitation, words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,”
or other similar phrases or variations of such words or similar
expressions indicating, present or future anticipated or expected
occurrences or outcomes are intended to identify such
forward-looking statements. Forward-looking statements are not
statements of historical fact and involve known and unknown risks,
uncertainties and other factors that may cause the Company’s actual
results, performance or achievements to be materially different
from the results, performance or achievements expressed or implied
by the forward-looking statements. Factors that may impact such
forward-looking statements include without limitation, the ability
of The Hackett Group to effectively market its digital
transformation and other consulting services, competition from
other consulting and technology companies that may have or develop
in the future, similar offerings, the commercial viability of The
Hackett Group and its services as well as other risk detailed in
The Hackett Group’s reports filed with the United States Securities
and Exchange Commission. The Hackett Group does not undertake any
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Gary Baker Global Communications Director (917) 796-2391
gbaker@thehackettgroup.com
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