Going Digital – what does it mean to you and your organization?
Going digital is not about taking a few initiatives in the digital space. Most organizations have been using digital technology for a long time in some form or the other. Going digital now means changing the way businesses were done traditionally. Digital has emerged as a key disruptor to established business models. Digital technology is being very effectively used for expanding the reach of business, bringing increased focus on customer centricity by establishing new ways of connecting with customers and becoming proactive in service delivery, seamlessly integrating internal and external business stakeholders like dealers, vendors, employees on common platform, establishing integrated information backbone for organization operations, and enhancing the speed of innovation through collaboration and crowd outsourcing.
There are numerous use cases where digital technology is being used by organizations for transforming and preparing themselves for a digital-driven future.
What is your Digital Transformation plan, strategy and the deliverables you expect or already coming in?
At Escorts we have done a lot of work in digital space during the last few years and it is still continuing. We are using digital technology for better customer connect, enhanced service delivery and establishing new lines of business. Usage of digital technology in R&D has significantly decreased the time spent on simulation testing and New product development. Our digital eployments on the shop floor have led to first time right manufacturing leading to reduced rework and warranty costs. We are making our products smart and interactive by using IOT, BI for deep business analysis, imparting learning through knowledge portals, using the cloud for agility, better reach and cost optimization and protecting our documents by creating the central digital repository. More importantly, by using digital technologies we have been successful in doing department consolidations across the organization and their subsequent outsourcing. We leverage digital to change people and organization culture by bringing the entire workforce on a common communication hosted platform, providing business critical information on anywhere, anytime, any device basis.