Is your business ready for the 4th industrial revolution?
The 4th Industrial Revolution (4IR) is taking automation to new heights, disrupting the physical, digital, and live science spheres. Through the use of new computer technology, business leaders can perform routine tasks with more efficiency.
As such, technology trends are increasingly shaping a firm’s business strategy and redefining “rule-based” jobs. So, what does the 4IR mean for businesses? What is it? Read on to find out all you need to know about it and how it influences IT services in Tampa.
Savvy enterprises utilize a “business model” to support their bottom line, create value, and improve customer experiences. These needs cover propositions, products, resources, returns, and cost structures. And often, a traditional business may choose to engage a managed service provider to help the enterprise fast-track transformation and help it gain a competitive edge.
Despite the substantial impacts of digitalization in the business environment, only a significantly small number of firms integrate a viable digital platform business model into their corporate strategy. In fact, fewer than 10% of management teams in various organizations appreciate the economics behind the digitalization of the business model.
Challenges Associated with Business Model Digital Strategies?
Incumbents in the business world are continuously making substantial investments in digitalizing their organizations. More so, in reaction to customer demands and elevated competition.
Nevertheless, fewer than 15% of these firms reap adequate financial returns from their digital investment. Further, internal IT innovation efforts, accelerators, incubators, and hackathons can prove inadequate when you want to improve business performance substantially.
For the above reasons, when you seek the services of a proficient IT Company in Tampa, you should first pursue how the managed service provider can help you harness technology trends that are beneficial to your business.
How Will 4IR Influence a Firm’s Strategy?
Fundamentally, the underlying idea of the 4th Industrial Revolution is to link embedded systems to smart production facilities and thereby generate a digital convergence canvassing different industries and businesses. Equally, 4IR aims to transform an enterprise’s internal functions and processes.
Subsequently, 4IR takes into account several technologies and business designs. These offerings include the Internet of Things (IoT) and digital business. Even so, 4IR is not synonymous with, nor a replacement for, any particular technology.
By advancing manufacturing, 4IR impacts other business environment segments such as utilities—culminating in the evolution of new IT solutions, technology-centric onboarding experiences, investment opportunities, the advancement of real-time data, besides increased demand for efficient data backup services.
Which Businesses will 4IR Affect?
4th Industrial Revolution may have a significant impact on businesses running in an industry that is gradually adopting automation, is more data-driven, or deploys more technology. Correspondingly, 4IR can touch every firm linked to the internet, produces data or consumes it for purposes of supporting operations and creating value.
While 4IR may bring about far-reaching initiatives, it also epitomizes a quantum leap for many organizations. Industry leaders may, therefore, have to dispense with the “one size fits all” model and accommodate smaller, manageable elements with a focus on outsourced IT infrastructure and services in incremental steps.
How can these 4IR technology trends benefit a business?
- They enable a business to utilize internal and external data sources to gain insights, thus boosting decision-making processes
- Adoption of these technological trends improves competencies through the integration of IT within your enterprise—including the blending of security and risk management
- Help you inventory prevailing IT architecture and identify areas that may require further digitalization
- Enable you to design smart products and adopt proficient processes that will bring an optimal return on investment
Ultimately, the need to transform from traditional business models that curtail a business’s ability to compete override the cost associated with scaling to efficient technological trends.
Nevertheless, as you seek to ensure that your organization is operating at an optimal level, your business needs to keep the downtime during such a process to a minimum.
Are you looking for managed services in Tampa to help you transform your business and secure its future in any particular industry? We dedicate substantial amounts of time to providing solutions to any of your business’s IT concerns. Our team is available to provide IT support to your employees—remotely or on-site. Contact us to get started.