Recession made IT majors rethink biz models: KPMG

The preceding economic recession has led corporates and IT majors rethink and redesign business models for further improvement in terms of impact on organisational performance through better alignment from the planning stage, a survey by leading auditing firm KPMG said.

The report, titled 'Business Excellence through Process Maturity', was aimed at understanding how process maturity enables business excellence in knowledge based organisations and derive insights that will help organisations achieve excellence.

The findings show that over 90 per cent executives feel that aligning to process models and standards have significantly improved their individual roles and perspectives of business processes.

Over 80 per cent feel that aligning to process models and standards have significantly improved team and organisational performance.

However, on an average attaining certifications and attestations has been the key driver, with the highest ranking fororganizations to initiate work on excellence, it said.

Drivers such as increasing employee morale, reducing cost of poor quality, recognition in business community and improving effectiveness of business processes are at the next level of ranking.