Your IoT starters’ pack – Step 2

According to Deloitte, only 44% of companies feel prepared to navigate ongoing digital disruptions affecting the manufacturing industry. Market forces and continuous innovation have  driven a countless number of companies to become digital. They embark in a complex transformation journey designed to redefine the entire enterprise-wide operations.

The digital value proposition that compels companies to make the switch:

  1. Substantial cost reduction thanks to the growing number of ecosystems accessible through digital channels
  2. A liberalized access to digital entry allows companies to accrue their offerings and extend their market outreach beyond their installed base or market verticals
  3. Value chain multiplier with higher speed and increased transparency
  4. Data acceleration has repurposed the discussions about ownership, privacy, trust and transparency

Making the switch to digital is preceded by a comprehensive assessment that evaluates your company’s digital capability across 5 business verticals and generates a global view of your digital maturity. This digital readiness assessment allows you to:

  • Assess where they are in their transformation journey  
  • Create goals and plans, both short and long term  
  • Make impactful transformation project investments

Overall, checking whether or not your organization is ready for the digital journey translate into 5 key steps:

Step 1 – Checking your customer satisfaction levels

Knowing whether or not you can provide an experience where customers view the organization as their digital partner. Your customer will choose you as their preferred channel of interaction in order to control their connected future on and offline

Step 2 – Determining a sound strategy

Here you focus on how your business should operate and could operate in order to increase its competitiveness through digital initiatives. These insights must be aligned if not embedded within the overall corporate strategy

Step 3 – Reviewing your existing technology, assets & infrastructure

At this point, you know that the future success of your digital strategy relies on the efficiency and sophistication of your tech assets. You need to know if you have the right capabilities to create, process, store, secure and exchange data to meet the needs of customers at low cost

Step 4 – Future-proofing your operations

Making sure that your operations are future-proof and scalable is key to rolling-out a complex enterprise-wide digital transformation. At this stage, you have already understood that executing and evolving processes and tasks by utilizing digital technologies will drive strategic management and enhance business efficiency and effectiveness

Step 5 – Building and living in a digital culture across the organization  

Some companies use digital evangelists, change ambassadors and transformation agents to help carry the “digital journey” across departments. It is therefore critical for you to define and develop a smart organizational culture. This would entail governance and talent processes to support progress along the digital maturity curve,  thus providing the flexibility to achieve growth and innovation objectives.

Next chapter in this IoT Starter Pack by Copperberg
Be simple & transparent

Learn more about Conference of Things here