In an industry facing declining growth and reduced earnings over the past decade, the race to win in the industry 4.0 setting was at full speed.
The company’s new Digital Executive, assigned with the task of addressing the challenges of digitalization, set up a new digital organization to work cross the different business units. He launched an ambitious effort to build a leading industrial IoT and automation backbone with the intention to digitally enhance the current product portfolio, launch new software-as-a-service solutions and digitalize internal operations and own production.
Being a traditional mechanical engineering company, technology strategy practices were well developed and had deep roots. However, to fit the software-focused new endeavor, a modernized approach was needed.
The Executive engaged Konsert to help navigate the multitude of new digital use cases and understand what digital technology building blocks that are key for the company’s success.
By gathering key business and technology experts from the company’s different business units and collecting inspiration from industry 4.0 leaders, an extensive digital use case and digital technology matrix was created, revealing available strategic options.
To be able to make business-driven strategic choices to proactively direct resources, business strategic priorities for digital was distilled from the various of business strategies and challenging the existing technology roadmaps of the company. This created a joint agreement on what the company wanted to achieve with its digital innovation.
The outcome was a fit-for-digital approach to digital strategy, creating the ability to make deliberate and proactive choices on where – and where not – to invest.