Industry competition is technologically advancing at a speed that is hard to keep up with, let alone surpass. Digital maturity has been used as a term to describe the “technological readiness” of an industry or business. As many traditional analog fields adapt to the future, corporations still struggle to reach this standard. They may make some progress, but these companies are still viewed as being “digitally immature.” They are still in the process of making digital infrastructure a focal point of their operations. In a report on digital maturity written by Deloitte, it states that “taking advantage of digital technologies to improve operations are important goals for nearly every contemporary business.”. Realizing this standard remains a corporate priority.
In one of our blogs, “How Digital Immaturity Surges Gas Prices,” we discussed how digital maturity played a role in the oil and gas industry. This type of mindset also has its merits in analyzing other aspects of asset-intensive companies, specifically data management. For many of these firms, it is the epicentre of their efforts to technologically evolve. And with good reason.
Whether it is the integration of a new CMMS or the organization of data in an existing one, there are a few things that companies can do to increase their digital maturity and ease the transition towards operational excellence:
1. Digital to the Core:
Commit to making a key part of your organization digital in some way. A good starting point is data handling. Make sure that the CMMS managing your data is up-to-date, actively supported and future forward. Digital obsolescence is a grave concern nowadays, so choosing a product that will be supported and forward-thinking is important.
A great approach to this is to move away from legacy systems. It’s a costly process that doesn’t help the future of your business. It’s often worthwhile to invest capital in a newer software or a service that will migrate existing data from an old legacy system. What’s the point in moving forward, if your data is stuck in the past?
2. Cultivate a Culture That Encourages Change:
There also needs to be a change in perspective. Educating employees and management on the benefits of digital inclusion in your organization is just as helpful as investing in the means to do so. Drive change in areas where evolved data management will have the most impact. Having a flexible mindset supports a company’s ability to react to emerging trends effectively. This could include both maintenance and operations. Whether you are an industry leader or an employee, being a force for the future can go a long way.
3. Be a Forward-Thinker
The reason why so many companies appear to be digitally immature is due to the unrealistic timeframes they set to enact meaningful change. According to Deloitte, 30% of digitally mature companies establish timeframes of 5 years or longer, compared to only 13% of digitally immature ones.
When it comes to managing your asset data, large changes take time. Moving too quickly could damage the process, which makes you less prepared for future endeavours. Start small by innovating in certain locations or in areas that will yield the most informative results. Once that works, then develop a plan to incorporate it fully into your organization. You can’t jump from optimized data to smart factories instantaneously, pace yourself.
How Can We Help?
NRX AssetHub is a data solution that works with asset-intensive companies to optimize, cleanse and migrate their digital information. We integrate with leading EAMs and CMMS to ensure that our clients get their data right. We make sure our customers are prepared for the future, with features like cloud-computing, legacy data conversion and detailed parts books. If you would like to learn more about how we can help you improve your digital maturity and prepare you for the future, book a Demo or contact us at 1-877-603-4679.
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