How Digital Technologies are Transforming Markets
Advanced digital technologies have completely transformed our way of life. From how we shop, read the news, make appointments, and most significantly, how we work. It’s reported that over 90 percent of global enterprises use cloud computing in some part of their business daily.
The workforce is reliant on digital technologies for success. As the world becomes more and more connected, upgrading your IT environment is no longer a way to get ahead, rather, it is a requirement to keep pace.
In traditional industries, such as manufacturing, engineering, and construction, taking the leap to a cloud solution from a legacy system may seem like a big undertaking. As a trusted digital transformation consulting business, we can ensure you that the benefits far outweigh the threats. An effective digital transformation strategy is key for your project-driven business’ success.
What is Digital Transformation?
Digital transformation helps businesses reimagine their existing processes to meet the evolving needs of modern technologies and market requirements. For project-driven businesses, this means taking a step back from existing practices and incorporating processes that are automated and data-driven. Cloud solutions, like Oracle Netsuite, can help businesses achieve a more streamlined supply chain, unified project development, end-use visibility, and much more.
Why Project-Driven Businesses Need Cloud Solutions
Cloud solutions are no longer reserved for the big tech companies. Traditionally non-digital workplaces reliant on manual labor, such as construction, manufacturing, and other project-driven businesses, need advanced technologies more than ever to accelerate growth. Whether expanding into a new channel, market, or country, to fundamentally restructuring business models, manufacturers need agile technology that can keep up with innovation in order to capitalize on market opportunities.
ERP for the Non-Digital Workplace
Enterprise Resource Planning (ERP) is one of the most popular forms of cloud solutions organizations are utilizing in their digital transformation strategies. At a basic level, ERP integrates all essential processes, including inventory and order management, financials, human resources, and customer relationship management, into one complete system. For project-driven businesses, ERP can eliminate core issues slowing processes by freeing up time and resources needed to scale, drive innovation, and remain competitive. Oracle Netsuite’s comprehensive ERP software offers extensive benefits for project-driven industries while integrating all preexisting and new operations:
- Design and Engineering
ERP cloud solutions improve product design and BOM management for engineering firms. As your project grows, so does the amount of paperwork necessary to get the job done and to ensure quality and compliance. When you’re ready to bring your design to life, it’s important that your system and processes are adequately positioned to deliver on-time, in scope, and within budget. Netsuite’s system integrates with many CAD applications, helping to simplify costs while supporting easy imports of BOMs. Their unified suite ensures any production engineering changes are reflected in real-time while providing extensive capabilities for tracking inventory, planning, and controlling costs in project-oriented environments.
- Manufacturing and Distribution
Successful manufacturers recognize that upgrading their back-office processes and legacy solutions. is essential to capitalizing on new opportunities. With Netsuite’s unified model, manufacturing organizations can minimize downtime with disorganized operations and improve financial, inventory, and supply chain management. Additionally, manufacturers can benefit from better decision making through the cloud’s exceptional procurement modules, giving organizations the security of an automated, centralized purchasing process.
From a project management standpoint, construction projects are some of the most complex to keep aligned. With staff in the office, contractors on site, and other vendors in and out of operations, digital transformation solutions are an excellent way to keep projects in scope, on time, and within budget. Netsuite’s specialized ERP construction modules, such as the Construction Assistant tool, offer construction site survey and monitoring, with the addition of supplier documents to be digitally accessible via a notebook, tablet, or smartphone. By incorporating cloud solutions in your construction company’s digital transformation strategy, you can document and control your project progress in real-time, on a single system.
The days when the workplace, or worksite, was merely a physical space that employees occupied is seeing a drastic transformation. Today’s always connected, instant access digital environment is blurring the lines between what is and isn’t attainable for non-digital workplaces. If you’re still pondering whether your project-oriented business needs cloud solutions or ERP tools, it’s time to take the leap of faith. Working with a digital transformation specialist can help your business realize its digital potential while enabling innovation and growth.