New Digital Transformation Report: Only 25% of Industrial Professionals Say Digitizing Their Entire Company at Once Was The Right Approach
PALO ALTO, Calif. – If you are delaying the implementation of IoT enabled reusables to integrate it into a complete corporate digital transformation, it might be time to reconsider. A highly focused approach to digital transformation is challenging the traditional top-down, all-or-nothing strategy, according to a new report from Plutoshift.
The findings revealed just 25% of industrial professionals said digitizing their entire company at once was the right approach. Rather than embarking on an organizational overhaul, industrial professionals are looking at digitizing and automating specific tasks, departments, and functions within their organizations.
The report was developed by Plutoshift, the leader in automated performance monitoring for industrial workflows.
The report, entitled “Instruments Of Change: Professionals Achieving Success Through Operation-Specific Digital Transformation,” details a more targeted, incremental approach to digital transformation called Operation-Specific (or Op-Specific) Digital Transformation. An Op-Specific approach focuses on implementing digitization and automation techniques to specific workflows. According to the report, two-thirds (66%) of industrial professionals believe Op-Specific Digital Transformation would be more manageable and cost-efficient.
In October 2020, Plutoshift surveyed 500 industrial professionals from various industries to better understand whether or not their digital transformation strategies are working, how they’ve had to pivot their strategies, and to gauge if they were open to implementing new processes.
The report comes at a time when many organizations are re-evaluating or changing their approach: 74% said their digital transformation strategy has changed over the past six months and 84% said that COVID expedited their need to digitize their workflows.
“Industrial companies have felt more pressure to digitize and operate more efficiently, especially amidst the pandemic and changing work conditions,” said Prateek Joshi, CEO and founder of Plutoshift. “A company-wide overhaul is not optimal for companies that need to quickly pivot their digital strategies in challenging market conditions. Industrial professionals are now looking for new approaches to drive ROIs on a more manageable scale. Op-Specific Digital Transformation empowers professionals with the right tools that can transform their day-to-day operations.”
Other key findings include:
- 78% said that as they began to implement their digital transformation efforts, it uncovered underlying issues in the process
- 94% said they’d like to be able to do more with their digital transformation efforts
- 68% said there are specific workflows they would like to improve
- 58% said they have explored Operation-Specific Digital Transformation
- 79% of those respondents said the effort was successful or somewhat successful
To download a full copy of the report, click here.
Prateek Joshi is a leader in AI strategy and solution design and has written 13 relevant books on the subject. He launched Plutoshift in late 2017 with the mission of connecting the constantly changing realities of the physical world with the performance monitoring power of intelligent software. This effort resulted in enabling industrial companies to harness the full potential of existing operational, financial and maintenance data (they invest in collecting and storing) spread across different systems. Plutoshift is the leader in data intelligence for industrial processes.
Plutoshift’s cloud-based solution and GROUNDED AI™ delivery platform proactively monitors the performance of industrial processes and assets by empowering front line and remote workers to drive better results. Their GROUNDED AI™ platform transforms passive legacy monitoring systems and data repositories to active performance monitoring workflows in industries like Food & Beverage, Water Technology, Chemicals, Energy, Agtech, Manufacturing, Oil & Gas and Power & Renewables. Plutoshift delivers measurable outcomes supported by a formal ROI. Plutoshift supports clients globally and currently has offices in Palo Alto, CA, Denver, CO, Louisville, KY and strategic partner relationships in the UK and LATAM.