| Definition |
A Real Time Enterprise is an organisation that is focussed on bringing business processes online possibly via the internet to perform real-time transactions from any location at any time, enabling immediate business visibility and responsiveness. |
| Implementation |
The key steps in establishing a Real Time Enterprise include:
- Standardise business processes across subsidiaries, locations, and divisions
- Extend information systems to accommodate business processes via the internet
- Eliminate information systems hardware and software that do not promote harmonious connectivity and scalability between external sources and internal systems
- Ensure accountability of software and hardware suppliers towards implementing business processes
- Verify multilingual and multicurrency facilities have the capability to operate on a global basis
- Analyse activity and responsiveness to business processes at the customer, supplier, partner, and employee level as part of continuous improvement feedback
- Anticipate the level of change management that is required and ensure required resources are available
- Empower management in all disciplines to work together and implement changes as a team
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| Purpose |
In a Real Time Enterprise, business processes are immediate when moved online and extended directly to business process participants. Intermediaries are removed, accuracy is improved, and overall satisfaction is increased because customers, suppliers, partners, and employees can do things for themselves:
- Customers can enter their own orders, verify inventory, view invoices, and track support inquiries online to increase customer satisfaction.
- Suppliers can ensure adequate supplies by directly accessing the forecasting system and become more efficient
- Partners have instant access to promotions, placed orders, and product availability to increase performance
- Employees directly manage their own benefits, purchase supplies, book travel, and report expenses on the internet with a positive impact on productivity
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