September 19, 2024
Today’s companies need to achieve digital transformation to stay competitive and grow. However, they have many obstacles standing in the way of their path to digital maturity. Informational silos, market volatility, technology disruptions, and evolving customer expectations all hinder the progress of digital transformation.
While organizations are using more technology, many of the tools they use are isolated from each other and lack the meaningful metrics needed to track, understand, and increase customer value. To progress in their digital transformation journey, organizations need to improve the visibility, alignment, and efficiency impeded by fragmented technology.
Value stream management (VSM) can overcome digital transformation challenges, such as fragmented systems, slow delivery, and inefficiencies. The right VSM platform can integrate with existing systems to unite people, processes, and information across the company and throughout the product and service lifecycle to the point of customer value delivery.
With VSM, companies can accelerate digital transformation through increased visibility, improved efficiency, and enhanced collaboration.
Increasing Visibility Through VSM
Visibility is needed for organizations to understand value delivery, risks, and opportunities for digital innovation. Fragmented tools impair visibility across value streams and create project management blind spots. Some companies use more than a dozen tool chains, just for a single line of business. Multiple tool chains prevent departments from seeing all the data they need to allocate digital and financial resources fairly across the business.
With the right VSM platform, companies can increase visibility by integrating and unifying all the tools they need to track, gather, and analyze information related to value streams. Value stream mapping promotes innovation by making the entire path from product conception to delivery visible through data visualization, exposing inevitable bottlenecks. Using one platform ensures that the same metrics are being used to measure value across the business and data is being collected, synchronized, and reconciled at the same rate.
Through AI-powered business intelligence, VSM can provide the visibility required to navigate technological disruption, overcome obstacles to innovation, and develop a roadmap for digital transformation. With VSM, business leaders have access to accurate data that reflects a clear view of the state of the business and enables the company to reduce the time between conceptualizing a product and delivering it to the customer.
Improving Efficiency With Value Streams
VSM can increase efficiency by making value generation part of the product lifecycle. This process reduces the time spent handling and analyzing project data from potentially weeks to almost instantaneous. When companies use VSM to process data more quickly, business leaders are empowered to make decisions based on real-time data that can promote digital transformation.
A VSM platform helps eliminate duplicated workflows and overlapping or siloed data. With VSM, companies can reduce the time and resources needed to develop and bring to market innovative products at an accelerated pace.
Using a complete VSM platform to analyze value streams enables companies to identify waste and uncover quality problems in the manufacturing process that must be eliminated to speed production and product delivery. By examining the value of work, organizations can allocate their budget and other resources more targeted and cost-efficiently.
Enhancing Collaboration and Alignment
While VSM helps align all the teams in your organization, ensuring that the IT and business teams collaborate is crucial for achieving digital transformation. As part of VSM, value stream mapping shows department interdependencies in the path from product conception to delivery, including those between IT, DevOps, and line of business.
Understanding these interdependencies allows your company to promote collaboration by creating cross-functional teams that share information and goals. When team members see their role in a value stream and overall value creation, they become more engaged. By integrating IT into the value chain as a collaborator, VSM promotes digital transformation.
VSM boosts collaboration by using the goal of customer value to align teams, workflows, and resources. When company teams have a unified view of what they are trying to achieve with analytics, they can work together. Instead of focusing on their job functions, team members need to change their mindset to think of their role in providing customers value, in the form of a product or service.
How to Progress in Your Digital Transformation Journey Using VSM
While companies that use VSM benefit from making progress in digital transformation, few of them have achieved the highest level of VSM maturity in which organizations have end-to-end transparency and value flow. Using integrated and unified tools for VSM is the best next step for success in a long-term digital transformation journey.
To help you find the best VSM tools for digital transformation, we encourage you to check out our website where you will find all the resources and advice your organization needs.
About ValueOps by Broadcom
ValueOps® by Broadcom is the industry’s most complete Value Stream Management (VSM) solution. Combining robust business planning, agile delivery management, and value stream integration in one solution, ValueOps uniquely accelerates digital transformation by improving visibility, alignment, and efficiency at every stage of value creation.
With ValueOps, the seamless convergence of Clarity™, Rally®, ValueOps ConnectALL®, and ValueOps Insights in one solution empowers leaders at every level to plan, fund, manage, track, and optimize their work efforts using a common data model and value orientation. With the widest range of VSM features in the category, ValueOps has capabilities and insights to meet the needs of everyone in a value stream – effortlessly synchronizing them to align strategy, investments, people, and work across the enterprise. Broadcom.com/value
About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom’s category-leading product portfolio serves critical markets, including data center, networking, enterprise software, broadband, wireless, storage, and industrial. Our solutions include data center networking and storage, enterprise, mainframe, and cybersecurity software focused on automation, monitoring and security, smartphone components, telecoms, and factory automation. For more information, go to www.broadcom.com
Learn how to find the right VSM tools for accelerating digital transformation by reading the 2024 Buyer’s Guide for Value Stream Management. Access your copy here.