How Digital Transformation Halts Competitors & Market Erosion
A Story of Digital Transformation – Assisting an 80 year old manufacturing company to innovate to stave off competitor and market erosion
We’ve all heard it before. “Digital Transformation”. It’s the hot new term that technology companies can’t repeat fast enough. However, whether you’re a start-up or a Fortune 100 enterprise, the need to reconstruct traditional processes and business practices with technology has never been more vital. Driving innovation with Internet of Things (IoT), machine learning, and artificial intelligence (AI) are just a few areas that are enabling trailblazers to disrupt their markets and reap the substantial rewards.
This is a story of how an 80 year old manufacturing company leveraged our consulting services to implement technology innovations to stave off competitors and protect themselves from market erosion.
We started with a workshop of both IT and business leaders. The following were some key points that we heard:
- Though they offered a competitive solution at a more affordable rate, foreign competitors were eroding their market share by 20% or more over the past 2 years.
- They were utilizing proprietary hardware to capture real-time data from their products ($500 landed)
- They were utilizing proprietary communications channels to transmit and receive data from their products ($400/month)
- Inventory of custom rugged tablets ($2000 landed)
- They wrote and maintained an application for their customers, with multiple versions for iOS, Andriod, PC and Tablet (4 apps)
The resulting solution?
- Lowered their costs and price to the customer (regained market share)
- Could not easily be duplicated by their foreign competitors (protection from competition)
- Used RasberryPi controllers (reduced the cost by 90%)
- Used cellular data service (reduced the cost by 80%)
- Allowed the customer to use their iOS or Android Phone, Tablet or any modern browser based device (eliminated cost of a device 100%)
- Delivered a single responsively designed platform (reduction from 4 to 1 app which netted 75% reduction in maintaining multiple version of the application)
We were also able to drive innovative technologies in the areas of IoT, Big Data, Artificial Intelligence, Cognitive Services, Neural Network/Deep Learning, Predictive Analytics, and more!
All you need is someone to show you how. Call us! We’re easy to talk to and can develop a strategy to help you achieve your goals.