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Digital Transformation:
The Journey to Success

Digital transformation (DX) is more than just implementing new technology. Whether you're kickstarting your DX journey or looking to enhance existing operations, you must begin with a clear roadmap.

It’s becoming more important for companies to implement digital projects in today’s competitive landscape. Here are the main factors to consider when beginning digital projects.

Moving to digital transformation (DX) is a golden opportunity for companies to transform their ways of working. 

92% of global manufacturers have started their DX journey. Discover key strategies for identifying the value of the change, streamlining collaboration and engaging your team in new processes.

 

Identifying the Value of Digital Transformation

There's no point investing in new technology without measuring its impact. Companies must establish a baseline of current operational performance from which new data can be compared. Here are five factors to consider before starting the DX process:

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Align with financial goals

Tracking metrics on equipment performance, operating costs and maintenance expenditures are necessary to assess return on investment. This helps to analyse the success of new technology.

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Identify value drivers

Having a range of value drivers aims to address top challenges. Metrics including product quality and energy consumption should be looked at in this step.

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Select high-value use cases

Evaluating use cases before implementing new technology is crucial. This ensures each team within the company has visibility over how new processes will be implemented across different areas.

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Measure operational impact

To evaluate the effectiveness of new technology,  new performance must be compared to previous activity. This helps to flag any shortcomings of expected value. 

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Determine financial outcome

The final step is to determine the overall impact of new technology against financial metrics. This includes revenue, operating margins and asset efficiency.

Three Pillars for Digital Transformation Success

A recent study from PTC revealed that most companies have invested at least 5% of their annual revenue on digital transformation projects in 2021.  Of the 1,500 DX projects in this study, nearly half have failed to show positive ROI. To prevent transitions to DX from failing, three common themes are fundamental to success.
 
 
 

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Digital Technology Must Bridge Communication Gaps


Technology needs to eliminate barriers and enhance collaboration across the company. Workplaces with high integration across engineering, manufacturing and service departments tend to hit return on investment (ROI) goals. 

Better collaboration leads to better utilisation. The key is to streamline communication between teams while getting the balance right in the number of collaborators involved. Digital threads play an important role in linking physical and digital processes to ensure a continuous data flow across all stages of the product lifecycle.

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Leadership Must Redefine Boundaries


Strong leadership can make or break digital transformation success. Leaders must take charge of the entire DX journey, beyond simply implementing new technology. In doing so, departmental barriers are broken down and cross-collaboration improved.

Companies that lack committed leadership increase their likelihood of DX failure, with a 61% chance of falling short of ROI goals. Effective leadership drives DX initiatives to success, preventing delays and maximising value.

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Embrace Cultural
Shifts


Successful journeys to DX need to be embraced throughout the entire organisation. Each employee within every team must feel empowered to take ownership of new technology. 

Leadership is crucial to this pillar, as teams require top-down guidance to achieve bottom-up innovation. Long-term company goals must be communicated across the organisation, so each team is aware of the operational benefits with their department. 

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5 Steps to Identifying DX Value

Discover the benefits of embracing digital transformation to enhance your company’s efficiency. This blog dives deeper into five strategies to get you started with your DX journey. 

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Discover 5 steps

4 Manufacturing Use Cases of DX

Digital transformation is revolutionising the manufacturing industry. Take a look at the top DX use cases to unlock higher levels of operational excellence for your business.

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Manufacturing use cases