‘Digital revolution’ is a hot topic, especially for B2B companies. With the introduction of industry 4.0, increasingly more machines have been connected. But how can you capitalize this in terms of business?
Why bother about the digital revolution?
Suppose you are a supplier and your machines provide you with very valuable data. If you have the right software which can read out this data, you will be able to analyze it and predict how your machines will behave. This, in turn, means that you will be able to create effective maintenance and earning models as well as combine all data to serve your customers better – objectives that virtually all businesses aim to achieve.
To give you a clear picture of the importance of the digital revolution, we listed its three key advantages for you below. These explain why you should join ‘the movement!’
1. Zero touch
Basically, this means that you need less employees and can work more efficiently with the ones you do have as a result of automation. As the banking industry currently demonstrates, running your business with less people gives you the opportunity to work leaner, smarter, and faster. Once you digitalize your processes, the employees you hire will only be cream-of-the-crop people who can greatly improve their efficiency because automation supports them.
Additionally, don’t underestimate the benefit of empowering your customers: they demand to organize more things independently, and expect transparency on everything.
2. Improved planning and control cycles
The fact that machines, vehicles, and equipment yield data is very interesting, especially to industrial branches. Production lines and factory processes offer a wealth of data, which should be given a place in the digital landscape. If, for example, you send the data retrieved from systems and equipment to an ERP system, you can improve your planning of maintenance and control. This will ensure that you can close better, more cost-effective deals.
3. Digital business models
Say, you are selling agricultural machinery or maybe raw materials. In the old days, you would set up an office and hire great sales people to get on the road and meet your targets. However, things are different in this day and age. The majority of your prospects is aware of online information on prices. They will opt for a time saving way of purchasing, for example via their own customer portal.
So, how do you attract and convert new leads? You will need to create new, smart business models and develop digital tools to retrieve useful information from your online (sales) data.
What we are saying is: embrace the digital revolution. Use it for your business by gaining the insights you need, and you will be able to realize a significant boost!