Mastering digital transformation for manufacturing companies in the Industrial Machinery & Components (IM&C) industry introduces special challenges – and unique opportunities.
Thanks to new technologies, social media and increasingly powerful mobile devices, customers have unprecedented access to information – and they have high expectations for service and performance. Buyers are also looking to adopt connected manufacturing processes, employing intelligent machines with Internet of Things (IoT) capabilities. They want digitally connected products that enable them to extract massive amounts of valuable machine sensor data.
That dynamic puts IM&C manufacturers at the center of the digital transformation revolution.
A recent Cisco report, “The Internet of Things–How the Next Evolution of the Internet is Changing Everything”, predicts that the size of the machine-to-machine (M2M) market could balloon to $1 trillion by 2020.
For IM&C manufacturers across the industry – consumer products, heavy equipment, industrial machinery, and more – success in the digital economy means mastering digital transformation. And that requires adopting processes, practices and technologies that help you maximize customer centricity and boost digitally connected products.
While manufacturers in other industries may be able to meet customer expectations simply by pushing data to a smart phone or other mobile device, IM&C manufacturers need to think a lot bigger.
That’s where customer centricity and boosting digital products come in:
Maximize Customer Centricity
- Access deeper customer insights and gain a comprehensive view of the customer life cycle. Placing customers at the center of operations is imperative for ensuring success in the digital age leading to greater loyalty and margin growth.
Boost Digitally Connected Products
- The Internet of Things (IoT) is positioned to transform the IM&C industry with greater access to real-time information. For IM&C enterprises, the digital connectivity of products results in greater awareness of machine and component health to extend the operational lifespan and reduce maintenance costs.
Digitally empowered buyers demand highly personalized customer experiences. Becoming more customer centric is about meeting customer expectations by developing deeper understanding of customer behavior and requirements. IM&C manufacturers are also pressured to create innovative, digitally connected products with value-added services, and do it in a way that helps drive top-line revenue growth and bottom-line cost savings.
For IM&C executives, the digitalization of physical assets and products will impact not only their operations, but also the way products and services are sold and serviced.
Mastering digital transformation for manufacturing companies in the IM&C industry equals success in the digital economy. By driving customer centricity and delivering digitally connected products, your organization can grow revenue and reduce costs. Learn more about digital transformation for manufacturing companies in the IM&C industry by reading the itelligence industry insight white paper, How IM&C Companies Can Compete in the Digital Economy.