Faster Time to Market with Digitalization
Published by : Industrial Automation
Digitalization is generally a digital transformation that describes and formulates the digital processes in the business hierarchy and operations. These digital processes based on digital applications, networked systems, and urbane IT infrastructure. The companies in the market are formularized and incorporation of digitally mapped and digital products in the current business model. In these business models, the companies are adopting digital platforms to continue the business operations of information, communications, processes, and services.
Digitalization is a combination of online and offline along with the disruptive technologies to flow the entire company. The flexibility and individuality of products and services as well as automation, optimization, and autonomy of business processes are primarily enhancing its growth opportunities in the market. The incorporation of the digital process is further enhancing business models. The increased customer expectations and competition in the market are the main factors for the development of digitalization in the market.
“Digital is the main reason just over half of the Fortune 500 companies have disappeared since the year 2000” – CEO, Accenture
Requirements for Digitalization
The successful approach towards digitalization is a mandate to form the most appreciate fundamentals. Such fundamental should be based on –
• Strategic formation to implement digitalization
• Formed a digital body in an organization
• Focus on the making of digital business models
• Creating agile approaches in product development
• Making a flexible IT infrastructure
The formation of diversification in digitalization in the organization aims to initiate digital strategy. Moreover, it is necessary for transformation in the core business and development of a new business offering segment based on digitalization. In the organization, the IT departments are formed to drive the digitalization, but the organizations are also taking assistance from the specialist digital departments and managed service providers to support the digital strategy. In the current market, mostly all the companies are based on the digitalization strategy.
“More than 80 percent of companies believe that they need professional partners for consistent implementation of digital transformation. These should have high competence in IT integration as well as extensive process and industry know-how” – Computerwoche
Advantages of Digitalization for the Business Sectors
Management – Future-proof solution, flexible reaction to market changes, higher ROI, maintaining the competitive edge
IT – Flexible and scalable infrastructure, less effort for development, shorter release cycles
Controlling & Finances – Efficient use of resources, lower personnel costs, current numbers, reduced investment costs
Marketing – Analysis of results, personalized address, better targeting, reduced ad spends, increasing operating range, shorter time-to-market
Sales – Sales and partner portal, automated sales support, simpler onboarding
Customer Service – Customer self-care via a web portal, knowledge management, and central customer data, faster support times, improved support quality
Production – Automated processes, digital control via web/mobile app, improved allocation of production goods
HR – Targeted candidate marketing, talent traceability, CRM for interested parties with all data
Complete Company – Flexibility, scalability, automation, high performance, high software quality in the long term, the foundation for innovation and agility