In the time of uncertainty and the market getting more competitive, businesses are forced to look for ways to gain more profit and maintain their existence. But how? The answer is hasten the digitalization agenda to eliminate any form of waste and eventually turn loss into profit by gaining more visibility of data within the business process
But in reality, digital transformation is no easy task. Digital transformation really requires careful planning, especially for a sustainable digital transformation strategy. Sustainable digital transformation is about doing the right thing by building the thing right. We must make sure that the digital strategy will result in more good than harm.
The question is, what are the digitization challenges that make Boston Consulting Group state that 70% of digital transformation processes fail?
Why 70% Digital Transformation Fail?
Digitalization is not a project that can be realized overnight. It requires mature preparation and approach. However, the reality is pretty different. Some companies see it as a race to see who transforms the fastest. Instead of solving their biggest problem, they just focus on technology.
The philosophy of “just do it first” is also still attached to several high-ranking company officials. As a result, they are trapped in an inappropriate transformation process. Budget funds that have been disbursed previously did not produce results.
It doesn't stop there, the understanding of digital transformation turns out to cause many different perceptions. This also drags the output of the digitization itself. Some companies claim to have succeeded in carrying out digital transformation, whether it is digitizing manual processes or running automation. However, when explored further, this digital transformation raises other challenges such as inefficiencies.
Inefficiency is a loss that is often not realized by companies when executing digital transformation. And this kind of loss can be turned into profit only if companies understand the core challenges behind this efficiency. Some of these challenges include:
1. Need dozens of solutions
Each department has their own problems, needs and priorities that are often different. In the process of solving those problems, other problems arise such as limited IT resources. Responding to this problem, each department ultimately digitized separately, using different vendors for each solution. This creates other inefficiency, and that is the difficulty of data integration and differences in standardization of terms and processes.
2. Limited resources
Time constraints and IT resources play a very big role in the timeline for implementing the transformation. Is it possible with one IT department from several people to be able to complete each priority transformation of the entire department, from build, maintain, to scaling up?
3. Changing constantly and rapidly
Over time, the needs of any digitization solution will inevitably change and require re-adjustment. While digitization is not a one-time project, when adjustments are needed, companies have to contact external vendors again.
4. Data silo
A decentralized digitalization agenda creates inefficiency in data problems and the emergence of data silos. Because each department has their own agenda, this creates a culture of one vendor, one solution which in the end in one company depends on multiple vendors. Yes, it is true that departmental problems can be solved, but in fact it raises other inefficiency problems because multiple vendors require high integration complexity, additional features require more costs, and require more procurement/administrative efforts.
The Rise of Low Code Platform
Low code platform is an application development that uses a visual approach for anyone to build applications quickly. This platform eliminates the need to build applications by writing line-by-line coding and replaces it with visual drag and drop with a simple logical interface.
Broadly speaking, low code platforms provide an easier way of creating visually modern applications. This will speed up the process of solving any unique problem. Especially, the low code platform can be used by anyone without depending on one's IT expertise and experience. Not surprisingly, Gartner estimates that around 80% of application programming will be done without coding by 2024.
Forbes research states that the use of low code can increase productivity by 15-20% compared to building applications using hard-code, because it provides many advantages including:
1. Speed
Low code provides freer access to create, replicate and customize applications in less time than hard-code. According to Forbes, low-code can significantly speed up application development time by 10-15x.
2. Innovation and business agility
With the speed of low-code, businesses are free to experiment with new products and services and create value chains that more quickly adapt to market changes and customer needs
3. Development for all
Because everyone can participate in creating applications with low-code, these “citizen developers” and “citizen data scientists” can become important parties in the technology ecosystem by donating applications that they can build themselves.
With the above advantages, a low code platform has the potential to be the key to accelerating business modernization plans and being more agile than before.
How Machine Vision Low-Code Platform Can Help
With the rise of low-code, Machine Vision sees this as an opportunity to help businesses tackle various inefficiencies of digitalization that they don't realize and turn loss into more profit. Bringing the low-code approach into our digitalization platform, Machine Vision believes that a successful digitalization must connect people, machines, devices, and systems continuously within it. Our platform enables anyone with no coding experience to scale end-to-end digitization solutions to gain insights that drive better products, optimized operations, and reduced costs.
ARTICLE WRITTEN BY: MACHINE VISION INDONESIA
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