New technologies shape
productivity, growth and
New technologies are a key success factor. Everyone is talking about digital transformation so one might think that is what every company urgently needs to address. In this matter people often overlook that every day many new value-adding technologies are developed that companies do not know or use. Conditioned by globalisation, the internet and rapid knowledge transfer more and more new solutions are being developed in an increasing speed. This is also shown by the global increase of patent registrations. According to the World Intellectual Property Organisation in 2016 there were 233.000 registrations, an increase of 7,3% compared to the previous year and at that time the all-time high.
Transparency steps before technological transformation
- Technology Review
Review of used technology in terms of renewal, adaptation, efficiency, effectivity
- Technology Update
Review of new and disruptive technology for existing and future business functions
- Technology Roadmap
Assessment and scheduling of technology launches and changes including processual implementation
A transformation plan gives answers to the WHAT, WHO, HOW and WHEN
Companies primarily decide based on value creation, investment and maturity level whether they should switch over to new technologies that are more efficient and generate competitive advantage or if the primary goal should be the cross-company digital transformation. Criteria that should also be taken into consideration for technological innovation are technological performance, accessibility and impact.
In any case and despite the hype one should realistically examine at first which new technologies in what order create which benefit for the company.