The integration of digital technologies is changing the way organizations operate and deliver value. Digitizing operations may replace manual work through increased automation, but it may also enable smarter execution of workflows thereby augmenting human work. Evaluating the level and reach of...

The financial services industry covers banks, insurance companies and investment managers, as well as transaction or message processing companies. To streamline billions of daily transactions, lean principles and operational excellence programs have found theirway to financial service firms....

By digitizing operations, companies may replace manual work with increased automation, but they may also augment human work through smarter execution. The authors present a conceptual framework that distinguishes the different levels of digitization, automation, and intelligence. This framework...