Checklist: Platform selection for CRM, CPQ, and Commerce in manufacturing
The manufacturing industry is a cornerstone of the global economy—accounting for nearly 16% of the global GDP in 2018. It is also notoriously resilient to change. This trait, however, works both ways. It helps the industry withstand the roughest of economic volatility but is also the primary reason why Industry 4.0 is still a buzzword ten years after it was first mentioned at the Hannover Trade Fair in 2011.
To be fair, manufacturers should not take the computerization of manufacturing lightly. It requires Herculean efforts that do not always pay off. Even businesses outside of manufacturing find it hard to achieve digital success. And the same is true for manufacturing firms.
The difficult journey to digital success
Globally, only 50% of digital efforts mature. And even then, only 26% of the companies that embarked on a digital transformation find success. That is because digital transformation requires a dedicated team of people. In a recent McKinsey survey, 21 keys to digital success were identified—all of which points to internal alignment and leadership. That means the drivers of digital success in your manufacturing business are your employees.
However, like in any transformation, businesses cannot fully transform from within. External technology vendors play a massive role in any digital transformation initiative. Manufacturers need to employ a good strategy to find the right digitalization platform and the matching partner who has expertise and experience in transforming manufacturing companies.
Your checklist to find the right strategy and platform
Manufacturers can start this strategy by identifying the processes that need to be digitalized and the software supporting the desired transformation. Next, manufacturers need to ask themselves what is the right technology platform to support their initiatives:
- Cloud or on-premise?
- Big tech or purpose-built?
- What are the minimum viable product capabilities?
Once these three questions have been answered, the number of platforms that can do the job will be significantly reduced. Then comes the hard part. Narrowing down on the partner that can deliver on their promise to transform your business. To help you find the right one, we’ve compiled a platform selection checklist that you can download and refer to during your search.
If you need further guidance, you can always contact our manufacturing experts for a free consultation to learn more.