Digitization pays off: Everything is going digital
In industry and in the field of information technology, the term digitization can be heard everywhere. All other industries are going digital, too - or at least talking about it long and hard. Hardly anyone wants to or can avoid the topic anymore, new jobs are being created and departments founded. Meanwhile, there is talk of Industry 4.0, but for many it remains a nebulous term, something that is simply unspecified very modern and digital. That's because Industry 4.0 is not the same for any one company as it is for another. The approaches are individual, and so individual solutions must also be found.
The web magazine Echo-online.de has published an article about a study by PwC that deals with digitization and how it pays off for companies. The business journalist Anja Ingelmann deals with the topic and makes specific reference to companies that operate in the south of Hesse (Germany) or have their headquarters there. Below, we summarize her article for you.
Regardless of whether you are convinced by the digitalization hype or rather annoyed by it: You won't get past it, because digitization is the future. It pays off in the end and will become a stumbling block in the long run for all companies that refuse to embrace it. A new study by Pricewaterhouse Coopers has now proven this once again.
Networked production chains
Think about it for a moment: Have you heard the word digitization in your private or professional life in the past few days? Perhaps used it yourself? That's very likely, at least. Digitization is on everyone's lips, and for good reason. Almost every week, industry and IT bring new products to market that can ensure that work can be done at even greater speed and even more easily, even better, even more efficiently. Industry 4.0 and the networked production chains that come with it ensure a pace that hardly anyone can keep up with without the help of IT tools. While the accident of a mega freighter in the Suez Canal and a pandemic show us that, despite all the digitization, we must also pay attention to other factors and continue to rely on them, the pandemic is simultaneously acting as a driver of digitization. Suddenly, people are working from home for whom this was never even considered as a possibility before 2020. And it works. Most of the time, anyway.
Competitive advantages are quickly recognized
PwC has now published a new study that clearly shows that companies' investments in digitization are ultimately worthwhile. The study surveyed decision-makers at companies in Germany and Scandinavia, mainly from industry. Those who put their money into digital products can help their company succeed in the long term. Those who digitize development gain enormous advantages over other competitors. The important thing here is that the technology chosen fits perfectly into the company in question. It is always difficult to work with ready-made standard solutions. The company managers surveyed stated that a customized solution had led to an increase in productivity of around 17 to 19 percent in their respective companies. In addition, production costs were reduced by an average of 13%. However, this was only ever possible where digitization was customized, so to speak, i.e. precisely tailored to the company's needs. Of course, this takes time, because the IT experts have to work with each company to develop a customized and unique solution. However, if you take this time and invest in these measures, you will see a respectable level of success. Of course, you also need a little patience.
What is the situation in Hesse (Germany)?
Anja Ingelmann took a closer look at the situation of companies in Hesse, or more precisely, companies in southern Hesse. Here, too, many companies want to benefit from digitization. Ingelmann brings up the example of Isra Vision AG, a company listed on the Tech-Dax. It will open up two new business areas. It is a company active in the development of seeing robots and surface scanners. Isra Vision is currently developing systems to automate entire production chains. Analysis software for all processes in production is also to be created within this framework. Isra Vision plans to generate half of its total sales with these two new areas in the next few years.
More examples of future-oriented digitization
Darmstadt-based Software AG is investing in the area of Digital Business Platforms, or DBP for short. This is integration software that can be used to network IT systems. Darmstadt-based Software AG plans to reorganize its entire range of products and services and use marketing strategies for the Internet of Things (IoT) in the future. The intelligent networking of devices and appliances is to be included in the Industry 4.0 portfolio, as are cloud services. The company Devoteam GmbH from Weiterstadt in Hesse is also focusing on cloud solutions. New products incorporate AI, or artificial intelligence. The company Spot Consulting GmbH from Darmstadt, which employs around 30 people, is also a specialist in IT project management and is pursuing various individual approaches to take industry to the 4.0 level.
Author: IAPM internal
Key words: Project management, Industry 4.0, Internet of Things, Digitization