Business is increasingly digitized. IDC analysts predict that by 2022 60% of global GDP will be "digital". At the same time, growth in all industries will be driven by enhancing the offer, operations and relationships using digital technologies. * Manufacturing companies are trying to adapt to this trend and not to lag. Business leaders see the fundamental growth engine and the opportunity for competitive advantage in new technologies. Cloud computing, advanced analytics and artificial intelligence, the internet of things and mobile technologies are just some of the "tools" available to transform not only individual organizations but ecosystems and the industry.
However, the experts observe that digital transformation is a serious challenge that is not always a success. One of the main causes of failure is the lack of adequate preparation. The transformation must be well planned, and to plan it, it is necessary to understand the situation of the company.
Innovative technology is no longer just a tool. It is only possible to achieve the planned benefits through an appropriate strategy – one that clearly defines the objectives and sets the time horizon. It must focus on key business areas, those with the greatest development potential, where the smallest changes bring the greatest return on investment. It should enable greater customer focus, greater flexibility and the ability to respond easily and quickly to changing conditions, as well as to facilitate planning and exploring new opportunities.
It is much easier to do this when you have up-to-date, reliable information. Meanwhile, according to IDC** production companies use only 10% of the available data. A clear picture of the situation in your company not only gives you more control, but also enables you to make better decisions faster and, consequently makes growth possible. Therefore, an investment in the ERP system is the cornerstone of the digital transformation of the industry. Only in this way can you gain valuable information to manage your business precisely in real-time.
Moreover, it is not only the best starting point for digitization but at the same time an excellent way to keep up to date on the initiatives taken. Only with enough detail, as presented in a suitable, clear and legible form, one will be able to answer the question: Whether the company is on the right course and what is the value of the implemented new technologies.
The digital transformation is like a tsunami – it cannot be stopped. Organizations that do not make changes or make them too slowly will be irretrievably losing the opportunity for development, at the same time risking losing their position and, in the worst case, even leaving the market. There is no doubt that digital transformation is a challenge. However, it is equally obvious that it provides huge benefits. It is therefore worth having useful tools that adapt to your organization's specific needs and grow with your business. Therefore, investing in a system, such as Epicor ERP and iScala, means a significant increase in the chance that the result of the digital transformation will be a success.
* IDC FutureScape: Worldwide IT industry 2019 Predictions https://www.idc.com/getdoc.jsp?containerId=WC20181030
** IDC FutureScape: WORlwide IT industry 2017 Prediscje https://www.idc.com/getdoc.jsp?containerId=US41883016