VIEWPOINT
THE KEY TO INDUSTRIAL SUCCESS BY LEVERAGING PURE-PLAY INDUSTRIAL SaaS, COMPANIES ARE PRIMED FOR BUSINESS OPTIMISATION AND SPEED TO MARKET, WRITES TIM SOWELL, PORTFOLIO ARCHITECT AND STRATEGIST, AVEVA
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igital transformation isn’t easy, and doesn’t happen overnight, but every day it’s a more vital business necessity. The rapid convergence of IT, OT, and IIoT is creating a new connected landscape, improving work processes, and increasing business agility. But while digital transformation has been on the agenda for many years, in 2020 it went from a five or ten- year initiative to an overnight imperative. To remain competitive in today’s fast-changing markets, companies need to first digitise manual processes with
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CXO INSIGHT ME
MARCH 2022
electronic data capture, then digitalise more holistically – take that captured data, turn it into useful information, then share it across the enterprise. This digital transformation not only minimises wasted work and increases resiliency, but also, by placing the customer at the heart of the business, enables new value creation and growth opportunities. The problem with digital transformation But there is a reason, of course, that every business hasn’t accomplished
its digital transformation already: it’s easier said than done. IT research firm Gartner reports that digital transformation takes twice as long and costs twice as much as most companies anticipate. Around 70% of digital transformation projects either stall or fall short of their objectives. One reason for this, particularly in the industrial landscape, is that businesses often don’t fully understand the objectives of their transformation. When you don’t have a clear understanding of your short and long-term goals, it is difficult to see how you can use your
