Enterprises today are very dependent on their information systems and data. The IT environment has also become more complex, increasing the risk of information compromise. Cyber security risks are a fundamental type of risk for all organisations to manage. Potential impacts include higher costs, lower revenue, reputational damage, and the impairment of innovation. Protecting a company and its information assets requires a holistic approach: various security controls and compliance aspects need to be understood and addressed to get comprehensive protection.
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In this Midagon Point of view, we focus on how digitalisation supports production efficiency development and enables the implementation of emerging technologies. All these innovations reshaping manufacturing require the ability to collect, share and process data. The flow of information through each manufacturing stage is necessary for using new technologies. New technologies will help companies tackle challenges in their supply chain and give a competitive advantage against their competitors.
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In this Point of View, we explore the Data Platform concept and how it can improve data-based decision-making and lead to better and new business services. A Data Platform is an essential part of the modern IT owned technology stack, providing vast opportunities for better business performance.
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In the traditional manufacturing context, existing production units always strive for performance improvements regardless of how successful they have been in the past. When recent improvement opportunities have been utilized, new targets are set and new developments planned. The changing business environment makes it necessary to adjust; new technological opportunities will be used by competitors and stakeholder expectations continuously become more demanding.
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In the last few years, industrial sales have seen many changes and much uncertainty about the future. Logistics challenges have resulted in a huge increase in contacts from customers asking when their delivery is arriving. Remote work has changed how we interact with customers. Global and local component shortages have changed delivery schedules, quarantines prevent employees coming to work and so on – the list is almost endless. All this means a seamless information flow in industrial sales is now very critical, salespeople and customers need to be notified about changes and updates instantly, and the correct information always needs to be available online.
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New technologies enable us to build highly automated financial management functions, releasing educated financial professionals from number collection and reconciliation work to supporting business leads in decision making and creating strategic growth.
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An ICT strategy defines how ICT creates value to a business and enables achieving strategic business objectives. It also ensures that business and ICT capabilities are aligned – instead of just designing ICT to address business requirements and setting a direction for the ICT function as a part of an enterprise. ICT strategies should be developed and refreshed in an iterative manner. This includes regular checkpoints and observing the changes that take place in the operating environment.
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The business environment is getting more and more complex every day. Simultaneously, we still have a large amount of manufacturing and process industry companies working in much the same way as they have done for the past who knows how many years. The companies in this area need to step up their digitalisation game and not only take initial steps, but real leaps, towards a more digitalised way of operating and managing their business.
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Construction industries are facing major digital transformation challenges. They have long been under internal pressures to increase productivity but have gained very little so far. In addition to struggling with efficiency challenges, there are now external pressures created by new customer expectations of digital solutions. Expectations are high for all lifecycle phases from planning to construction and to facility services.
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