Robotics in manufacturing opens many doors — new career paths for employees, economic gains, business growth opportunities — but it is a business network that takes your innovation and success beyond your company walls.
Therefore, it’s better to embrace the business dynamics and build your digitalization strategy around networks that connect your different ERPs and applications. Why? Because without a business network, your underlying data quality will not be good enough for the rest of your business applications to reach full potential.
2. Tap into the power of high-quality data
The crudest way to start digitalizing written business communication is to scan physical documents and digitize these business transactions. Today the infrastructure, regulations and technology to implement end-to-end digitalization of your business transactions already exist in most places across our globe.
Once you have all your transactions digitized, you can start collecting data. And this is when it starts to get interesting. Essentially, any business is a small step from realising a digitalization strategy and tapping into Big Data. Most stop after digitizing the transaction and thus miss the opportunity of digitalizing the complete business network to start harvesting the vast amounts of data which reside in the transactions.
For each order and invoice, there is so much more information stored than any one person or department might realize — trends, patterns, pricing insights and buyer preferences are just the beginning. The data will flourish, enabling the entire C-level to tap into new insights, and allowing the company as a whole to move forward making better business decisions.
3. Opt for the holistic approach to digitalization
Business leaders seldom see the promised or expected benefits of digitalization from a holistic view, but if we continue to work with digitalization in siloed approaches the full benefits will remain untapped.
Take the life cycle of a single transaction. The accounting department is usually concerned whether the amount is correctly booked to the right accounting code or if the invoice or order is compliant to accounting rules and legal requirements. The IT department is more concerned about the transaction getting stuck somewhere, lost or even stolen. The supply chain department is busy digitalizing its flow of goods and production sites with IoT gadgets and is not necessarily concerned about the financial settlement. Meanwhile, the CEO is wondering what happened to the digitalization strategy the board decided on a while back…