Theme – 8

1.   Digital Transformation of my previous working place

Overview:- 

The case study delves into the digital transformation journey of a the no.1 Insurance Company in Sri Lanka. Rated AA+. The company operates as two separate conglomerates primarily focusing on life and General insurance. It underscores the adoption of cutting-edge technologies across various functions, including management tools such as the Management Information System (MIS), SAP for accounting, and the Enterprise Resource Planning (ERP) system for administration and HR.

Key Technologies Used in Operations

1. Integration of ERP System for operations: - From attendance tracking to resignation processes, the company operates entirely through an ERP system, eliminating the need for paper-based operations. This enhances efficiency and streamlines HR processes.
2. Utilization of SAP for Accounting: - The company employs SAP for accounting, seamlessly integrated with the payment system. This ensures accuracy and efficiency in financial operations.
3. Digital Board Meeting: - Board meetings are conducted online using tablets provided to directors. Documents are uploaded online, and decisions are disseminated through the company's intranet. This facilitates efficient communication and decision-making, particularly beneficial for a geographically dispersed network of branches.

 

Communication Strategy

 

1. Intranet/email s primary communication channel: - Email/Intranet serves as the primary mode of communication for employees, including office assistants.

 

2. Digital Notice Boards: - Internal communication is facilitated through the company's intranet, managed by the IT department. Digital Notice boards are displayed utilized for specific announcements within the head office premises.

 

3. Social Media during Pandemic :- Amid the COVID-19 pandemic, social media, particularly WhatsApp groups, played a crucial role in communication and operational continuity. Digital channels were instrumental in facilitating insurance claim processes and maintaining seamless operations.

 

Impact of Social Media

 

1. Enhance Communication through social media: - Social media accelerates the flow of information, enabling remote collaboration and faster decision-making. This results in increased efficiency and improved service standards.

 

2. Organizational Culture Fit:-The incorporation of social media has transformed the organizational culture, enabling faster communication and decision-making. However, challenges such as productivity loss due to uncontrolled social media usage during office hours have been addressed through restrictions.

 

Risk Management Impact

 

1. Balancing Human Aspects and Technological Intervention

There is a risk of losing the human touch during technological interventions, particularly in customer interactions. Incorrect information input may also impact the accuracy of outcomes, affecting profitability.

Conclusion: - The case study highlights the significant impact of digital transformation, particularly the integration of ERP systems and social media, on the operations and culture of an insurance company. While these technologies enhance efficiency and communication, they also present challenges that require proactive risk management strategies. Overall, embracing digitalization is essential for staying competitive and meeting evolving customer needs in the insurance industry.

 

 

 

 

Link:-

https://doi.org/10.1016/j.sbspro.2014.08.192

https://www.sciencedirect.com/science/article/pii/S1877042814048769

 

2. Social Media and Organizational Communication

The following scholar article of social media and Communication - by Marius Badea in 2014 is closely matching with the strategic alignment on how social media influence the communication in an organization and how does it strategically could be managed.

 

The article further elaborates whether all companies should use social media and if proactive strategies are necessary for utilizing these platforms depends on various factors as specified below with the breakdown drawn from considerations and conclusions.

Target Audience: - It clearly states that it is important to the companies should assess whether their target audience is active on social media platforms. (e.g., rural aging population), investing heavily in social media might not be effective for product promotion.

 

Strategic Alignment:- Botezatu suggests that companies should adopt a proactive social media strategy only if it helps fulfill a strategic goal. The strategy should align with the broader company objectives and communication strategy.

 

Collaborative Strategy Implementation: - Social media strategy development can involve various departments, including marketing, sales, and communication. However, it's recommended to have a mix of professionals from the communication department and possibly external communication agencies for new companies.

 

Management Involvement:- Top management should be involved in overseeing social media strategy implementation and monitoring results. Social media channels are not just communication tools but also avenues for customer engagement.

 

Performance Matrix:- Key performance indicators (KPIs) for social media should be set based on communication and business goals. These metrics can include both qualitative indicators like community involvement and quantitative indicators like the number of followers and interaction rates.

 

Resource Allocation: - While the physical costs of implementing social media may be lower, human resource costs can be significant. Professional involvement is necessary for achieving desired results, and costs depend on communication objectives and activities.

 

Steps for online communication: -Online communication strategy, including setting short-term, medium-term, and long-term goals, selecting appropriate communication channels, establishing work policies, creating an editorial plan, implementing strategies, and continuously monitoring performance

 

Internal Organizational Benefits:- Social media can contribute to various internal organizational dimensions, including improving communication processes, community development, facilitating information flow, promoting values, consolidating organizational culture, and stimulating creativity and collective intelligence under optimal conditions.

In summary, while social media adoption and proactive strategies are not universally applicable to all companies, their implementation should be based on careful consideration of target audience, strategic alignment, collaborative strategy building, management involvement, performance metrics, resource allocation, and internal organizational benefits.