How Cos Can Leverage Digital Tech For Gain

by CXOtoday News Desk    Apr 07, 2015

digitaltech

Companies are increasingly showing an interest in emerging technologies such as mobile, cloud, big data social and related technologies. However, mere adoption of these technologies will not be of any use, unless effectively planned and implemented. This is what IDC recently explained in a new research report, giving specific scenarios where businesses can look at for impactful adoption of these technologies.

According to IDC, for companies looking at aggressive growth organically or inorganically, third platform, as IDC calls it, can provide a flexible IT infrastructure that can be deployed faster. IT is the backbone of businesses today and cannot be overlooked in a growing environment. Cloud type of application deployment can provide a flexible, elastic and robust way of on-boarding new divisions using standardized ways of running the business. Mobility increases the distribution reach and provides a technology future proofing for sales teams.

For commoditized products such as cement and paint where not much product differentiation is possible, these technologies along with CRM can provide better customer experience and insights for the sales and marketing teams in a timely fashion until the last mile. Many more stock keeping units or SKUs can be offered as product combinations based on customer needs and handled efficiently, says the research firm.

 Automobile, construction and agriculture equipment type of companies are leveraging the Internet-of-things or IoT to come up with foolproof and disruptive business models – product-as-a-service where customers need not buy the equipment but pay only for specific hours of usage. For example, revenue streams from aftermarket services and sale of spare parts can be made much more reliable and predictable.

 At the same time, customer feedback is usually unstructured in nature. It is vital to get timely voice of the customer and 3rd platform can again help by leveraging hand held devices. Quick decision making and action to correct a product or a process before it goes out of hand can be avoided by using analytics to leverage the data feed from customers and create proactive alerts. B2C companies such as telecom have used analytics to predict customer churn and reduce it before they lose any, it says.

Regulatory requirement for environment, health and safety and product traceability is another scenario where third platform adoption can help businesses, says IDC. Internal collaboration is becoming key today in organizations not just for productivity but to foster innovation and leverage the internal tacit knowledge available and convert it into tangible opportunities.

“Companies that have clear policies on what decision to take for what standard scenarios with clear fact-based policies, decision trees, prior approvals, and rigorous follow-through will find it easier to go through the rapid changes happening in today’s world of evolving technologies,” says S Ramachandran, Principal Research Manager, IDC Manufacturing Insights.

IDC states that business benefits need to be taken into account considering both the low-hanging fruits and, more importantly, the long term implications in terms of maintainability and total cost of ownership (TCO) throughout the lifetime of the application.