Having a business digitalisation strategy is very important as it can help your business in a number of ways. The key to having a successful digitalisation strategy is to analyze the effectiveness of digital solutions and to maximize the impact of these on your business. You also need to look at how your IT department can play a role in this process.
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IT departments are the key to digitalisation
Using digital technologies to optimise manufacturing and service processes can improve productivity and efficiency. They can also help reduce environmental impacts. A key benefit is that they can also enable integration of systems. A key element of digitalisation is the creation of digital platforms, which allow for communication between departments. These can also be used to manage a business, or to connect different people.
In the power sector, digitalisation can enable better information on distributed energy resources and electricity consumption. This can reduce physical stresses on equipment, and can increase the operational lifetime of networks. It can also help manage the cost of operations and maintenance (O&M). For example, by using predictive maintenance, it can lower costs for both plant owners and end users. It can also provide real-time status of equipment. This can reduce O&M costs by up to five percent. This could lead to a savings of USD 20 billion per year.
In addition, digitalisation is likely to lead to further efficiencies along the supply chain. For example, it could help in the assessment and development of CO2 storage. This is a technology that has been used in the oil and gas industry, but it appears that it has transferable potential for clean energy technologies. These technologies include the use of digital technology applications for CO2 capture.
The EU has set a target that 90% of European SMEs should be able to reach basic digital intensity by 2030. This means that they should use four out of the twelve digital technologies that the EU identified as being crucial to driving the economy towards digitalisation. It is estimated that the number of SMEs that are able to achieve basic digital intensity has increased by 56% in the past year. These companies will need generic ICT skills, as well as specialised ICT skills to support the digitalisation of infrastructure.
The power sector is at the forefront of the digitalisation movement. There are opportunities to integrate variable renewable energy sources, and there are opportunities to use smart demand response. There are also opportunities to lower costs for plant owners and end users by utilising digital data. This is a major opportunity in the electricity sector, as investment in networks and power plants could be reduced by up to USD 34 billion a year.
Analyzing the effectiveness of digital solutions
Whether you’re considering a digital business unit, a standalone digital legal entity or a dedicated digital sales force, a well-thought out strategy can make the difference between a successful digital venture and a flop. A properly structured digital organization can enhance organizational agility and increase overall profitability. It can also help your company avoid cannibalization of conventional offerings.
A dedicated digital head function is a great way to get the ball rolling. It ensures strategic alignment and coordination of the various digital entities in your company. Having a single head function is also helpful in avoiding misalignment between sales and product management. Having a strong product management role also means that you can get your product managers to provide you with feedback in a timely fashion. This is important because you want to be able to respond quickly to customer demands.
The most effective sales and marketing strategy is to leverage your existing sales team and customer network to generate leads and sell your digital solutions. There are a variety of ways to go about this, but the most logical way to do it is to leverage the expertise of existing employees. This is particularly relevant if your digital solution is complex or you are targeting a new customer segment or industry.
The other possible way to go about this is to have an autonomous digital consulting unit. This is not as cost-effective as an embedded digital business unit, but it does offer the advantages of being independent and ensuring you are offering your customers the best solutions.
Maximizing the effects of digitalization on business
Investing in digital technology is not enough. Your company needs to evaluate its current practices, as well as its customers, in order to determine how to maximize the effects of digitalization on your business. The benefits of digitalization are many, and ignoring them can put your company behind the competition.
Fortunately, there are ways to achieve this. One of the best ways is to conduct an experiment in a low-risk environment. This will allow you to try out new ideas without spending too much money. Identifying your technical bottlenecks will also be key. This will help you to prioritize your investments, as well as plan your next steps.
The most important thing to remember is to make sure that you have a clear vision of what you want to accomplish. This will help you to focus your efforts on the most important projects. Once you have established your goals, you can start to invest in digitalization technologies. These innovations can help your company to meet these goals, while offering you sensational results.
The most important part of this process is to find out which of the many digital solutions are actually the most useful. Some of these may be too expensive to implement, but others will deliver the most impact. This is where intelligent information management comes in. You can utilize technology to help strengthen your customer’s demands. For instance, you might consider using an e-commerce website to streamline the order management process. This could also be a good time to test the effectiveness of your new products and services.
Getting the most out of your digital transformation is not easy, but it is possible. The key is to find the right combination of digital solutions and smart information management.