Five drivers to gain a competitive edge

The competition is no longer just outside your front door, in your company’s local area or even in your country. What’s more, it’s becoming less common for your direct competitor to be a traditional company from your industry, rather a completely new player. These new companies use digitisation for their business success. Luckily for you, their methods are no secret, and can be put to use for you, so you can survive the increasingly hard competition in this age of digitisation.

What digitisation steps have you already taken for your company?

The discrepancy between preference and reality is a good indication that there is still a lot to do to drive digitisation further - and to strengthen your own company’s competitiveness. But you can quickly check whether you’re already making use of the right drivers.

Drivers for competitiveness

More strategy

As an executive, you have to tackle your own digital business strategy more intensely. Where does it make sense to put the benefits of digitisation to work for your own competitive position? The production industry in particular can considerably expand its business models, redesign products and services and optimise collaboration both internally and externally using new digital technologies.

More agility

Of course, you have to ensure that your company continues to offer a reliable service in your core business area. But you must also display the customer-centered innovation and speed that start-ups are known for. And you can only achieve this with agile structures. So, agility shouldn’t just be relegated to processes in your company, rather also thoroughly established in your set-up organization by building connected, inter-departmental digital teams.

More qualification

Most people agree that digitisation and the Internet of Things will not annihilate jobs. Quite the opposite: automation and digitisation are expected to create staffing growth of up to ten percent annually. Completely new professions have arisen, such as big data analyst and social media manager. Many companies are primarily rising to the challenge of digitisation by building in-house skills. This is where your HR department comes in: in this situation, they should prepare with the right staff and training.

More courage for change

The strongest impact of digitisation will be seen in IT departments. Various cloud models and software as a service ensure that business areas such as service, logistics and production will increasingly take precedence over IT for strategic reasons. In future, IT should move much closer to all of your other business areas without merging together. This is why IT departments don’t just need technical know-how, but also a deep understanding of a company’s business and process requirements.

The holistic approach

Modern management models and methods such as enterprise architecture management offer a holistic approach. Processes and information, applications and infrastructure, staff negotiations and targets - and, not least, customers: all significant factors are embedded into this management model, so can be planned comprehensively. The complete digital support of your internal business process is therefore an important requirement so you can use the benefits of connected processes.

So, in order for you to keep a competitive edge, you need a management model that reflects the new complexity of customer, product and company networking, and functions as a pioneer in the cosmos of opportunities. The strategy can be planned holistically in three dimensions. In the specific context of the relevant ecosystem, the aspects of ‘customers’, ‘products and services’ and ‘company and collaboration’ are taken into consideration, and any interactions estimated.

Digital transformation is so much more than pure technology: it drives the increase of value and performance in a company. And it’s a guarantee that your company can survive competition in the future.