4 Tangible Benefits to Creating a Digital First Organization

Building a digital thread using IoT, RM, and AR to boost revenue and profits requires creating processes and a culture to support them. Undertaking a digital transformation to prepare you for the future and create sustainable competitive advantage requires commitment from your entire management team. As with any fundamental change to your business operations, building a Digital First Organization will require an analysis of benefits and costs to secure support across your organization. As you make your case, here are 4  compelling arguments that support a serious consideration for transitioning to digital-first organization:

1. A digital-savvy workforce can manage and operate equipment and assets, analyze the data, and think strategically about how digital initiatives improve the business.
   
   
2. An accessible infrastructure for capturing and sharing data—along with reliable data storage and transmission—allows people to easily find and access company information.
   
   
3. Convergent technologies such as machine learning or artificial intelligence analyze data and provide insights to improve business operations and product design.
   
   
4. A robust cybersecurity infrastructure ensures networks and data are secure and private while complying with all relevant regulations.

Worth noting is that when building a digital thread, it's necessary to define goals for the technologies that effectively and efficiently solve business challenges and also align with the business goals and objectives. A subsequent action is to set key performance metrics and milestones to measure program success. For most organizations, the first steps to adoption are to engage with an organization that understands a digital-first landscape (to learn what digital first means for their own organization) and then to adopt a pilot program for IoT, RM, or AR.

It’s important to think about adoption of these technologies as future-proofing the organization. Also be sure to look at the transformation for the business and its operating model as a whole as opposed to thinking about adopting IoT, RM, or AR individually or as a single project to complete. Making this transformation has significant potential value: enterprises will achieve financial payback for IoT projects much sooner than they realize.

The Result: While the journey starts with understanding the current state and thinking strategically about how to use advanced technologies such as IoT, RM, and AR and the data they produce to increase efficiencies, the outcome is something any business can understand: increased  margins, higher profitability, and the creation new lines of revenue.

Smart connected products and operations and the analytics and operational efficiencies they enable can add real value to all areas of an enterprise ready to make the investment. Whether directly via product improvement or development or indirectly by increasing efficiencies, these technologies are already changing people’s lives for the better.

Ready to Make the Change? Across industries, businesses are facing up to the risks—including workforce management challenges, the impact of not updating existing infrastructure and legacy technology, and security risks—and making the investment.

Boston Engineering has the team and the experience to make your implementation of the digital thread a success. If you are considering making the transition to a digital first organization, we would appreciate the opportunity to lead you through the many challenges involved in making it a reality. Reach out to us today and let’s start the conversation.

Imagine your Impact: Stay up-to date- with the latest insights and trends we're watching. Add your email address below and sign up for a Monthly Summary of our most impactful posts!