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What is business transformation?
Business Transformation is the process of transforming the business process of an organisation to cope with changing needs of markets. Organisations undergo business transformations in order to cope with changing needs of their product markets. Business transformation ultimately helps an organisation in improving its bottom line by either increasing revenues or reducing operating expenditures or both.
"Radical swings in commodity prices are disrupting business planning and operations for every business in the oil & gas industry. Success requires the ability to respond quickly and efficiently to these dynamic conditions. For example, upstream companies are challenged by severe resource constraints while struggling to increase production and replace proven reserves. Meanwhile, downstream companies are facing working capital and margin pressures."
Organizations ranging from Aerospace to heavy engineering are relying on IT to deliver their products and service. The main objective of BSM is to align their IT process to the correct set of business goals. This streamlines the operations of the organization and helps it migrate to services on cloud, reduce IT redundancy and in turn deliver better quality to their customers in a lesser time.