Sponsored by Marcum: Four steps toward informed digital modernization – Crain’s Cleveland Business
The first mistake many organizations make is assuming IT is really about the technology. They assume it’s about finding a better enterprise resource planning (ERP) system or a better finance system. Quite often, the thought is “if I just adopt the latest and greatest technology and processes, my organization will run better, clients will certainly be happier and the business may grow. ”
However , the new business model has arisen over the particular last decade: clients expect products in hours or days, not weeks plus months. Clients expect to be able to transact business through their phone or tablet. Executives want to anticipate issues and changes, not really review reports from last month, final quarter or even last year. Employees would like to work remotely from anywhere in the country at any time. This new business model is totally unlike those of 20, 10 or even five years ago and is impossible in order to achieve without modern technology. Technology is the new business model.
The new business model includes adopting technology that transforms the way you conduct business with your customers, your suppliers and your employees. It is about being easy to do business with. It will be about removing the four walls of your organization and creating a seamless flow of data, information plus insight with all of these stakeholders. Data used to be siloed in departments, but now it flows freely across enterprises and continents.
So how do you realize this brand new technologically enabled business structure?
Step 1 : Focus on the particular core of your business. Address the three core areas of the business: sales and marketing, operations, finance plus HR. Laying the foundation with modern systems that are cloud based, have high integration capabilities, strong data analytics and dashboards, automated workflow and are highly configurable, will create almost a future-proof design that will grow and expand your business, while empowering staff, managers and executives.
Step 2: Talk to your best clients and focus on their needs. Where are they going, what do these people see over the next five to 10 years and exactly what drives their own business? Businesses that are successful position themselves to foresee the future needs of their customers and prepare for that will now. Great businesses implement technology that increases customer connectedness plus engagement, whilst simplifying transactions and deals.
Step 3: Seek to create a fully integrated, technologically driven supply chain that flows from raw material through a fully connected product in your client’s hands. Supply chains are just that; interconnected links that will through technologies and seamless integration allow raw materials to flow into works inside progress (WIP) into finished goods and services that address client issues.
Step 4: Create smart products that will meet the immediate challenges plus adapt to the changing needs of the clients. These smart products and technology tools also provide feedback to the particular manufacturer/distributor on how the client uses the product. This allows the manufacturer/distributor to improve the product and tailor this more closely to the particular evolving needs of its customers.
While this journey can appear daunting, the alternative is more challenging. The risk of being left out of your own customers linked journey or the incorporated supply string threatens in order to leave organizations outside the particular modern world of connected with each other commerce.
Marcum Technology advisors can help businesses through the highly complex process of building and executing IT roadmaps. We employ a highly collaborative approach to helping companies adopt technologies that transforms the way they conduct business. For more information, visit www.marcumtechnology.com .
5G: Stay ahead of the curve
Regardless of the particular size associated with a business, it’s vital for it to fully understand the wide array of potential opportunities that 5G can offer. First, the technology’s ability to enhance employee productivity must not be overlooked. After all, it enables businesses’ devices to acquire low-latency (the time they will receive responses to requests), along with powerful connections in order to the impair, leading to less connectivity issues plus, in turn, higher efficiency.
Second, employees can have increased bandwidth connections, enabling them to improve their particular sales capabilities, while furthermore training their new colleagues more effectively. Alongside these high connections, 5G offers high frame rates and high-definition content too, each of which is provided without any delays — in a completely wireless fashion, according to Forbes.
Finally, the particular technology can achieve exceedingly high speeds as well — roughly 100 times faster than 4G, according to PricewaterhouseCoopers, resulting within a further rise in productivity. To reap the rewards of each of these benefits, businesses must stay ahead associated with the curve, particularly by adopting 5G’s latest offerings, keeping up to date on news and expanding their own coverage as the technology evolves. In doing so, they’ll handle considerably more contacts faster compared to they ever have before.
5G NETWORK SECURITY: PROTECT YOUR BUSINESS
In order to fully reap 5G’s benefits long term, businesses must understand its risks as well, especially regarding cyberattacks. With such risks in mind, the particular White House has created the National Strategy to Secure 5G, an expansion of the National Cyber Strategy, which features the various ways in which the federal government is striving in order to ensure 5G infrastructure is usually protected within the U. S., as well as globally.
Last 12 months, an Implementation Plan was also developed, leading to further security, as the Cybersecurity & Infrastructure Security Agency (CISA) continues to implement initiatives which will enhance 5G’s deployment plus management. In addition to the federal government’s efforts to ensure 5G is as safe and reliable as possible, businesses should focus upon their own 4 walls too, as they develop 5G protection plans that will are tailored to their particular worker headcounts, industries, objectives plus specialties.
THE BENEFITS OF PRIVATE NETWORKS
In order to help reduce the cyberattack threats associated with 5G, businesses should consider deploying private 5G cellular networks. Such networks will not only protect employees’ identities and locations, but their devices plus overall information as nicely, based on Forbes. And, of equal importance, by implementing private networks, businesses may ensure their security measures, along with their incorporation with several other types of operational systems, are completely customized for their unique requirements.
This customization will be especially important as cybersecurity threats—particularly ones which are common this year, like credential stuffing, ransomware, safety misconfigurations and social engineering, according to Forbes—remain high for 5G users.
By staying ahead of the contour, because they evolve their 5G implementations, systems and security offerings, companies will be able to enjoy the full advantages of the particular technology in a secure, safe manner properly into the future.
Businesses must stay forward of the particular curve, particularly by implementing 5G’s latest offerings, keeping up to now on news and expanding their coverage as the technology evolves. In doing so, they’ll handle significantly more connections faster than they ever have before.
SOURCES: Cybersecurity & Facilities Security Company, Forbes, PricewaterhouseCoopers
Compiled simply by Chris Lewis, Crain’s Content Studio-Cleveland
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