Process Excellence news – Alpine F1 team, Esker, EY, BPM market growth & more

PEX Network brings you the latest news in process and operational excellence, business process management (BPM), digital transformation, Lean Six Sigma, Kaizen, process mining and more.

Week of 02/05, 2024 includes: 

• Alpine F1 boss demands "operational excellence" from squad
• ETCI secures €1 billion investment for Europe’s digital transformation
• Esker named "Supplier of the Year" at British Credit Awards
• Digital transformation market to be worth $200 billion by 2032
• EY collaborates with Dell, MoneyLion to accelerate digital transformation
• BPM market value to soar past $50 billion by 2030
  
• JELD-WEN announces new senior leadership to improve operational excellence

Alpine F1 boss demands “operational excellence” from squad this season

Alpine F1 team boss Bruno Famin has called for nothing less than the “highest standards” and “operational excellence” from the Enstone squad this season. After a “turbulent” 2023, Alpine enters the 2024 season with a “degree of realization” needed to improve its overall team dynamic, Famin said.

“We made changes for the second half of the season, most notably to the way the trackside team operates, which brought some immediate and tangible success. The aim now is to extend this dynamic to the whole of Alpine Racing and we aim to begin 2024 very much on the front foot in terms of delivering high standards and maintaining operational excellence.”

Famin’s call hints at an urgent need to close the gap on midfield rivals like McLaren and Aston Martin. “We must aim to gain speed and accuracy in our execution in order to improve our efficiency and overall performance,” he added. “We have dedicated a lot of time in aligning the management of the team and improving all processes across the board.”

READ: Operational excellence challenges: 5 tips to overcome them

ETCI secures €1 billion investment for Europe’s digital transformation

The European Tech Champions Initiative (ETCI) marked its one-year anniversary with close to €1 billion of investments aimed at driving digital transformation across the continent. The ETCI is a program dedicated to supporting technological innovation, driving growth and fostering the development of Europe’s tech ecosystem through strategic investments, partnerships and mentorship. ETCI has supported four funds to date.

“As we celebrate ETCI’s one-year anniversary, we are thrilled to announce these first four investments that will generate more than €5 billion for the European tech ecosystem,” said Roger Havenith, deputy chief executive of the European Investment Fund. “Together, we will drive innovation, empower entrepreneurs and position the European Union as a hub for technology and growth.”

Esker named “Supplier of the Year” at British Credit Awards

Process automation solutions provider Esker has been named Supplier of the Year at the British Credit Awards, organized by the Chartered Institute of Credit Management (CICM). The British Credit Awards recognizes the achievements of individuals, teams and organizations in the international credit industry. The Supplier of the Year award is open to suppliers who are delivering innovative and effective solutions for credit teams in the public or private sector.

The judges explained that Esker demonstrated “really good outcomes from process automation, time saving and also had solutions to positively impact” team members. “This is a culmination of our focus, dedication and efforts in working with industry experts, building strong corporate partnerships, establishing a well-defined brand position in the market, delivering great customer experience and securing a number of customers in this arena.” said Alistair Nicholas, managing director, Esker Northern Europe.

REGISTER: Overcome order management bottlenecks through AI-driven automation

Digital transformation market to be worth $400 billion by 2032

The global digital transformation market size and share is expected to reach a value of around US $4178.7 billion by 2032 at a compound annual growth rate (CAGR) of 17.2 percent. That’s according to a new research report from Custom Market Insights. The emergence of advanced technologies, demand for improved customer experiences and data-driven decision making are among the key driving factors of digital transformation as organizations seek to optimize operations, improve agility and stay competitive, the report stated.

The digital transformation market has also seen several mergers and acquisitions in recent years with companies seeking to expand their presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the digital transformation market include Google Cloud introducing four AI tools to enhance the online shopping experience and aiding retailers in inventory management, and Accenture reaffirming its commitment to talent development, shared capabilities and innovation in data and AI, the report added.

EY collaborates with Dell, MoneyLion to accelerate digital transformation

Ernst & Young (EY) announced a new collaboration with Dell Technologies with the launch the EY Edge Technologies Lab, an initiative focused on bringing the power of edge ecosystem technologies to the forefront of the digital transformation journey. The Lab intends to revolutionize the way organizations experience and envision their business outcomes and data strategy by helping create real-time industry-specific use cases and prototypes for edge-centric solutions, seamlessly integrating the technology into business operations, EY said.

“The EY Edge Technologies Lab reflects our commitment to providing innovative solutions that help empower EY clients to stay at the forefront of technology and gain a competitive advantage,” commented Greg Cudahy, EY global TMT industry market leader.

EY also unveiled a new partnership with enterprise and consumer FinTech MoneyLion Inc. to help drive digital transformation in the banking sector. The Alliance leverages MoneyLion’s embedded finance platform to help enhance the technological capabilities of traditional banking institutions and simplify/streamline the transition into the digital realm, the pair stated.

“Our Alliance with EY US represents not only a stride in innovation but a continued commitment to transforming the banking and financial services industry. With the combined strength of MoneyLion’s technology and experience, we are setting a new standard for what banks and financial institutions can achieve and helping them change the way they engage with and cater to the evolving needs of today’s digital consumer,” said Dee Choubey, founder and CEO of MoneyLion.

BPM market value to soar past $50 billion by 2030

The global BPM market value is expected to reach $54.72 billion by 2030, according to Skyquest’s latest research report. The increasing need for organizations to streamline and optimize their business processes for improved efficiency and cost reduction, the growing adoption of digital transformation initiatives and the demand for agile/flexible business operations to respond to market changes are among a number of factors fueling the market’s growth. The North American region is one of the largest growing markets due to the well-established and mature IT ecosystem, the report found.

READ: 6 trends that will shape BPM in 2024

JELD-WEN announces new senior leadership to improve operational excellence

JELD-WEN Holding, Inc., a global manufacturer of building products, announced three new leaders and a refreshed senior leadership team to accelerate the company’s business performance and operational excellence. Gustavo Vianna joins as EVP and president, Europe, Dan Valenti joins as EVP, North America Doors and Distribution and Matt Meier joins as EVP, chief digital and information officer.

“To achieve JELD-WEN's full potential, we are focused on ensuring we have the right people and capabilities across the company to improve operational excellence, increase agility and deepen customer relationships,” commented CEO William J. Christensen. “Our refreshed senior leadership team brings together diverse, experienced leaders with deep expertise in the manufacturing sector to strengthen the foundation of our business and deliver increased value for our customers, associates and shareholders.”

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