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Listen in to the Challenges and Opportunities of Digital Transformation Across Industries

Tune in to this special edition of S.M.A.C. Talk (Social, Mobile, Analytics, Cloud) Technology Podcast

Want to learn how you can jump-start your organization’s journey? Listen to these short podcasts to gain tips and insights from the experts helping pioneering firms blaze the way toward digitalization.

Automotive

Today’s automotive world is driven by customer demands for hyperconnected products and services. What’s more, the interconnectedness of people, places, and things is creating new business models as digital technology not only permeates the driving experience, but creates innovative ways to engage customers.

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Banking

Proven banking business models based on established client relationships and billions of dollars in assets under management are currently under strain. Clients are increasingly exploring banking alternatives for their financial needs, eroding loyalty and profitability.

But the news isn’t all bad.

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Building Products

There are tremendous opportunities for the building products industry. Thought-leading companies are totally changing the game, transitioning from pure manufacturers to technology and solution providers.

Meanwhile, new approaches are creating challenges for organizations to fully transform and compete. But technology can help.

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Chemicals

In today’s world, everything is connected and software is embedded in our lives. Cycle time for innovation is 5x–10x faster, and chemical companies can no longer compete without reducing complexity, reinventing business, and relying on data as the fuel for value creation.

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Construction

Fifteen trillion dollars – that’s the projected size of the construction market by 2030, up from $8 trillion today. What’s more, a recent study expects that 75% of the infrastructure that will exist in 2050 does not exist right now, and that the design and expected outcomes will be transformative.

In short, we will have to double the current infrastructure, and then double it again by 2050.

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Consumer Products

Consumer products companies are facing pressure from all sides. Easy access to information about products, pricing, and availability means consumers wield greater power, and the barriers of entry for new players with the “next big product idea” are lower than ever.

At the same time, channel partners, from more traditional retailers to Amazon, are expanding their own private-label businesses. And, of course, tremendous volatility persists in the basic costs of doing business – from raw materials, to labor, to shipping, and beyond.

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High Tech

IDC estimates that 70% of all high tech revenue will be directly related to other industries adopting the digital economy by 2020. Smart devices, ubiquitous connectivity, and the processing and analysis of massive amounts of data are giving rise to new challenges and opportunities for high tech companies. In response, these organizations are reimagining their business models, processes, products, and talent engagement strategies.

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Industrial Manufacturing

The digitalization of business across industries is happening rapidly, and there is no turning back. Companies are looking for new ways to deliver value to their customers by using digital channels and creating personalized, digitally-enabled products.

The industrial machinery and components industry is at the heart of this shift, providing the intelligent machines and equipment needed to power this transformation, and spearheading innovative processes like connected manufacturing and predictive maintenance and service.

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Life Sciences

Life science companies must put patient outcomes first. But the patient experience doesn’t stop at the channel experience; rather, supply chains and services must be aligned with the customer experience. To achieve this, life science companies need to collaborate more closely within the entire health sciences network to innovate and deliver high-quality drugs, devices, and services – at a reasonable price.

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Metals

There are tremendous opportunities for the metals industry. Thought-leading companies are totally changing the game, transitioning from pure manufacturers to technology and solution providers.

Meanwhile, new approaches are creating challenges for organizations to fully transform and compete. But technology can help.

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Oil & Gas

We’re at the dawn of the next monumental technology revolution, where everything is connected and software is fully embedded in our lives. It’s a revolution that will transform the oil and gas industry away from the traditional, vertically integrated business models into an industry where access to information will overtake access to reserves, and capital is the competitive differentiator.

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Paper and Packaging 

There are tremendous opportunities for the paper and packaging industry. Thought-leading companies are totally changing the game, transitioning from pure manufacturers to technology and solution providers.

Meanwhile, new approaches are creating challenges for organizations to fully transform and compete. But technology can help.

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Professional Services

In today’s digital economy, there is immense pressure on professional services firms to do more for less. New entrants into the marketplace have changed the way firms deliver services, forcing them to adopt novel approaches or face stagnant or declining revenue growth and margins. The digitization of four fundamental elements – expertise, talent, service delivery, and customer engagement – is forcing professional services firms to rethink their business models and focus on how to drive revenue growthwithout corresponding growth in their employee base.

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Public Sector

The new digital reality has had a big impact on governments – at all levels.

But the opportunities that come along with digitalization will allow government agencies to serve their citizens better than ever. Policies and decisions will have much better outcomes when they are based on citizens’ insight and ideas. The analysis of sentiments expressed in social networks and e-participation tools can help governments understand the electorate. And agencies can use their data to drive policy decisions, set goals, measure performance, and increase government transparency, allowing them to act on facts and insights rather than on beliefs and opinions.

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Retail

The age of digital transformation has arrived, and everything is connected. Retail CEOs need to keep up with innovation cycles that are becoming 5x–10x faster and answer tough questions, including: How can we build a customer experience that competitors cannot easily replicate? How can we conquer new segments or markets? And how can we create new business models to outpace existing competitors?

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Telecommunications

As telecommunications operators are disrupted by new and aggressive over-the-top (OTT) players such as Apple or Google, they’re at risk of becoming frontline casualties of the digital revolution they helped create. To remain competitive, they must turn to new and previously untapped domains.

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Utilities

Disruptors in the marketplace have changed the way utilities deliver services, forcing them to adopt new approaches or face stagnant or declining revenue growth and margins. The digitalization of three fundamental elements – customer engagement, asset management, and financial optimization – is forcing utilities to rethink business models and focus on how to drive revenue growth without growing their employee base.

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Wholesale Distribution

To succeed in the digital economy, distributors must reinvent themselves, from existing as a warehouse of products that answers demand to becoming information-centric organizations that employ new business models. It will no longer be possible to survive by simply breaking bulk and having great, legacy customer relationships. The time to digitally transform is now.

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