The Hackett Group, with Symphony Insight, to
Launch New “Digital World-Class” Standard at its U.S. Best
Practices Conference in Atlanta, May 1-3
The Hackett Group, Inc. (NASDAQ: HCKT) and Symphony Ventures
have announced a global partnership that will enable enterprise
digital transformation by integrating The Hackett Group’s best
practices and research data with Symphony’s strategic and technical
capabilities in robotics and intelligent automation.
The partnership is expected to offer clients the ability to
further improve the ROI of their Robotic Process Automation (RPA),
Intelligent Automation and other digital transformation efforts in
finance, HR, procurement, and other business services areas by
combining Symphony’s global leadership enabling digital
transformation with The Hackett Group’s deep empirical knowledge
about how to assess and optimize processes for both efficiency and
effectiveness.
The Hackett Group has also announced that it will launch a
series of new “Digital World-Class” standards and metrics for
various business services functions at its U.S. Best Practices
Conference in Atlanta, May 1-3. The standards will detail the
supplementary improvements to efficiency and effectiveness possible
for companies that combine world-class performance with RPA and
other digital transformation approaches.
As part of the partnership, The Hackett Group will help clients
target their digital transformation efforts by assessing the
automation potential of functions and processes, evaluating them
against leading practices, and quantifying the overall opportunity.
The Hackett Group will provide clients with evidence-backed best
practices and insights, and its extensive benchmarking, advisory,
and transformation work with Global 1000 companies will enable
companies to focus on the areas with the highest ROI.
Complementing the insights of The Hackett Group, Symphony
Ventures will bring to this partnership its extensive background
and experience in assisting global organizations design, implement
and support their digital operations strategies. Symphony works
with leading digital tools and has mapped, modeled and implemented
thousands of business processes in the world’s leading
organizations, including in Banking, Insurance, Healthcare,
Logistics, Beverages, Manufacturing, Entertainment and more.
The two companies have collaborated on a new Point of View
research paper, “A Blueprint for Getting Started with Robotic
Process Automation,” which is available free with registration at
this link: http://bit.ly/2oS0ooi. The research estimates that the
total efficiency improvement achievable through holistic
transformation using RPA can result in 50-75 percent cost
reductions over baseline. The result will be a new “Digital
World-Class” standard for process costs optimized in this fashion,
which will be lower than those achieved by world-class companies in
The Hackett Group’s benchmark.
The research paper outlines six steps that are key to setting a
rapid and successful course for integrating RPA into business
services: think “transformation before tools”; define automation
objectives; identify areas of high potential; establish the right
governance; plan for transformation; and conduct a pilot or proof
of concept.
According to The Hackett Group Chairman & CEO Ted A.
Fernandez. “Robotic Process Automation has rapidly moved to the top
of the business services agenda. It offers unprecedented potential,
and it’s tempting for companies to focus on a narrow scope and
immediate savings. But RPA drives much greater value when it is
used to support broader transformation of end-to-end transactional
processes. Organizations must be prepared to redesign processes and
transform their legacy workforce at the same time they introduce
new automation tools.”
“To truly optimize RPA, companies need to carefully consider
their automation objectives,” said Mr. Fernandez. “A key part of
this is using benchmarks to ‘size the prize’ and understand how
their current processes compare to peer and world-class
performance. We believe that RPA and other digital technologies
have the potential to allow companies to move beyond world-class
performance and create a new bar – Digital World Class.”
According to Symphony Ventures Co-Founder and Chief Executive
Officer David Poole, “Symphony was founded on the principle that
true transformation begins with good process design and
measurement. The Hackett Group shares this belief. Together, we
bring process excellence and a digital ecosystem of tools to bear,
along with an unrivaled team of experts and practitioners. Our
collective services are what enterprises need to excel in this
digital age and usher in the future of work. What we’ve built here
is a partnership based on an aligned vision and commitment to the
power of transformation and best practices. Symphony and The
Hackett Group have melded our time-tested frameworks, creating a
holistic approach to helping clients achieve positive change,
leveraging a modern toolkit of software and services.”
“We believe this partnership can dramatically improve the ROI
our clients will achieve, and the speed with which they can realize
results,” said Mr. Poole. “The benefits of digital transformation
come in many forms. Lower transaction costs, increased speed, and
increased accuracy are just a few. When properly implemented,
digital transformation can also drive greater insight, and improved
customer and stakeholder experience. Finally, by automating
transactional tasks, staff can be redeployed to more strategic and
value-adding activities.”
About The Hackett Group
The Hackett Group (NASDAQ: HCKT) is an intellectual
property-based strategic consultancy and leading
enterprise benchmarking and best practices implementation
firm to global companies. Services include digital business
transformation, enterprise performance
management, working capital management, and global
business services. The Hackett Group also provides
dedicated expertise in business strategy, operations, finance,
human capital management, strategic sourcing, procurement, and
information technology, including its award-winning Oracle EPM and
SAP practices.
The Hackett Group has completed more than 13,000 benchmarking
studies with major corporations and government agencies, including
93% of the Dow Jones Industrials, 87% of the Fortune 100, 87% of
the DAX 30 and 58% of the FTSE 100. These studies drive its Best
Practice Intelligence Center™ which includes the firm's
benchmarking metrics, best practices repository, and best practice
configuration guides and process flows, which enable The Hackett
Group’s clients and partners to achieve world-class
performance.
More information on The Hackett Group is available at:
www.thehackettgroup.com, info@thehackettgroup.com, or by calling
(770) 225-3600.
About Symphony Ventures
Symphony Ventures is a specialist consulting, implementation and
managed services firm passionate about helping clients harness
‘Future of Work’ technologies and techniques. Founded in 2014,
Symphony is a recognized global leader in enterprise digital
transformation leveraging robotic process automation, artificial
intelligence, robotic BPO and other inspired delivery models to
help organizational leadership reduce costs, improve customer
experience, repatriate work and unleash resources to fund growth
and shareholder value. Symphony has been ranked an RPA service
leader by HfS Research, a leading service delivery
automation-focused service provider by Everest Group and a Cool
Vendor by Gartner. Headquartered in London, Symphony also has
offices in San Francisco, Boston, and Poland. For more information,
visit http://www.symphonyhq.com/ and follow the company on Twitter
at @SymphonyVenture.
Cautionary Statement Regarding “Forward Looking” Statements
from The Hackett Group
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 Hackett’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 Hackett and Symphony to market their respective service
pertaining to robotic process automation against competition from
other consulting and professional/trade associations/companies who
may have or develop in the future, similar offerings, the
commercial viability of such service offerings and changes in
expectations regarding robotic process automation, the ability of
Hackett to attract skilled employees, changes in collections of
accounts receivable, risk of competition, price and margin trends,
changes in general economic conditions and interests rates as well
as other risk detailed in Hackett’s reports filed with the United
States Securities and Exchange Commission. Hackett undertakes no
duty to update this release or any forward looking statements
contained herein.
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version on businesswire.com: http://www.businesswire.com/news/home/20170420005755/en/
The Hackett GroupGary Baker, 917-796-2391Global Communications
Directorgbaker@thehackettgroup.comorSymphony VenturesKristen
Leathers, 617-426-2222Version 2.0 Communications for Symphony
Ventureskleathers@v2comms.com
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