Five Theses on the Ingredients of a Successful Digitalization Process

Digitalization is more than IT and automation

Successful digitalization requires a coherent concept which covers prioritized optimization models, technical aspects as well as a sustainable organizational development process. Uncoordinated individual projects automating isolated process steps will not yield the desired success on a long-term basis. The goal is to establish a continuous digital improvement process which helps the company’s digital transformation to unfold in an orderly manner. This overall process is ideally managed by a central role, e.g. a CDO.

Digitalization is a prerequisite for competitiveness

In most industries, a changeover to processes which are largely automated and which can be varied at any time is more or less inevitable. In the medium term, companies which fail to unlock the advantages and efficiency gains associated with comprehensive digitalization will no longer be competitive. Their competitors are following through on this process of transformation, and it is they who will dictate the pace of development and cost levels, such as in the design of customer-oriented products. For instance, a competitive time-to-market is not possible without a rapid changeover of a company’s internal processes and its production system.

Holistic concepts deliver enhanced efficiency

Holistic concepts for the process of digital transformation offer the opportunity for company-wide digitalization which systematically integrates every process in the value chain. For instance, once a high level of automation and integration of digital processes has been achieved, there will be less need for manual interventions and coordination, reaction times will be shortened and productivity will improve. A holistic digitalization concept will increase the speed of implementation for digitalization initiatives, optimization effects will be more rapidly realized and the use of synergies will become possible.

Digitalization must provide an economic benefit

Digitalization is not an end in itself. Like all strategic business initiatives, it only makes sense where it provides a significant contribution to improving a company’s earnings position and enhancing its enterprise value. For this reason, strategically oriented concepts should focus on forward-looking technologies and competences and ensured improved levels of efficiency, productivity and quality. Only then will a digitalization process make financial sense.

An organization’s “digital readiness” is a key success factor

The digital transformation of a company is not a process which is completed after a few months. Digitalization is a continuous process which must be embedded within an organization. The expansion of internal competences and resources is frequently necessary in order to achieve the requisite level of “organizational digital readiness”, to establish a permanent digital transformation process and, ultimately, for the long-term management of this process.

"Ensure a continuous digital optimization process."

The development of a business strategy means formulating an action plan on the basis of comprehensive market and competitive analyses. We will use this plan in order to deliver a long-term boost to your competitive advantages and your business development strategy. Haselhorst Associates will also examine the possibility of strategic alliances, such as joint ventures or mergers, and assist you with the successful integration of partnerships. We will develop strategic concepts in a targeted and rapid manner which are attuned to your market situation and your business objectives.