Leaders vs. Strivers - Industrial Internet Consortium · 2020. 2. 26. · About Genpact Genpact...
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Industrial Internet of Things 2016: Not "IF" but "HOW" SURVEY INSIGHTS Current challenges prompt a “Lean Digital ” approach vs. Leaders Many falter on IIoT strategy and execution Strivers OPPORTUNITY PRIORITIES CHALLENGES consider successful adoption of IIoT technology and related analytics critical to future success of their company Leaders see Industrial Internet of Things (IIoT) as a game changer Growth is clear priority for leaders Leaders see high IIoT impact on growth; others have only limited success on cost reduction Growth Agility Cost Compliance 97% 76% 90% 85% 76% 41% 71% 70% 70% 39% Data security, legacy systems top concerns But hurdles perceived by leaders are often not same for strivers IMPACT Source: A survey of 173 senior executives from manufacturing and related industries spearheaded by Genpact Research Institute in collaboration with GE Digital, Industrial Internet Consortium and IndustryWeek Custom Research For more information, visit http://www.genpact.com/internetofthings, Contact us on [email protected] Follow us on Twitter, Facebook, LinkedIn, and YouTube Expected overall impact, and levers to achieve it, vary strongly between leaders and others Respondents rating their organization’s IIoT usage more advanced than competitors Others GENERATING INDUSTRIAL INTERNET IMPACT 56% say their organization has a clear IIoT strategy 14% say their organization has a clear IIoT strategy 33% of those say their execution of the strategy is excellent 11% of those say their execution of the strategy is excellent About Genpact Genpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. Our Lean Digital SM approach and patented Smart Enterprise Processes SM framework reimagine our clients’ operating models end-to-end, including the middle and back offices – to deliver growth, efficiency, and business agility. First as a part of GE and later as an independent company, we have been passionately serving strategic client relationships including approximately one-fifth of the Fortune Global 500, and have grown to over 70,000 people. The resulting domain expertise and experience running complex operations are unique and help us drive choices across technology, analytics, and organizational design. % of respondents rating the challenge as problematic Data security concerns Legacy systems Insufficient skills of IT staff Data quality issues Data privacy and confidentiality concerns Inability to do fast experiments Poor collaboration/functional silos Insufficient budget Insufficient data analysis and insight Lack of standards for interoperability and interconnectivity Unclear business case for IIoT Governance and change management Low appetite for risk Insufficient skills for ongoing operations 10 25 55 40 39 37 15 27 12 32 20 27 34 17 27 34 29 51 31 25 25 23 30 28 25 32 32 34 30 32 34 36 Operational improvement New products and services Enhanced customer experience New revenue streams and business models Business agility Supply chain optimization Creating a new market, or growing the existing one Better asset utilization More market share Better pricing Regulatory compliance 58 63 65 49 33 49 40 46 44 43 29 22 67 67 77 67 43 40 55 47 47 28 20 50 80 IIoT-specific process redesign Use of digital technologies for IIoT Advanced organizational models to leverage IIoT Estimated annual positive business impact from IIoT specific initiatives (USD million) 526 126 88 59 530 446 % of respondents rating the current impact as high on LEAN DIGITAL SM Leaders Strivers Leaders Strivers Leaders Strivers Leaders Strivers
Transcript of Leaders vs. Strivers - Industrial Internet Consortium · 2020. 2. 26. · About Genpact Genpact...
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Industrial Internet of Things 2016: Not "IF" but "HOW"
S U R V E Y I N S I G H T S
Current challenges prompt a “Lean Digital” approach
vs.Leaders
Many falter on IIoT strategy and execution
Strivers
OPPORTUNITY
PRIORITIES
CHALLENGES
consider successful adoptionof IIoT technology and related
analytics critical to future success of their company
Leaders see Industrial Internet of Things (IIoT) as a game changer
Growth is clear priority for leaders
Leaders see high IIoT impact on growth; others have only limited success on cost reduction
Growth
Agility
Cost
Compliance
97% 76%
90%
85%
76%
41%
71%
70%
70%
39%
Data security, legacy systems top concerns But hurdles perceived by leaders are often not same for strivers
IMPACT
Source: A survey of 173 senior executives from manufacturing and related industries spearheaded by Genpact Research Institute in collaboration with GE Digital, Industrial Internet Consortium and IndustryWeek Custom Research
For more information, visit http://www.genpact.com/internetofthings, Contact us on [email protected] Follow us on Twitter, Facebook, LinkedIn, and YouTube
Expected overall impact, and levers to achieve it,vary strongly between leaders and others
Respondents rating their
organization’s IIoT usage more
advanced than competitors
Others
GENERATING INDUSTRIAL INTERNET IMPACT
56% say their organization
has a clear IIoT strategy
14% say their organizationhas a clear IIoT strategy
33% of those say their execution
of the strategy is excellent
11% of those say their execution of the strategy is excellent
About GenpactGenpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. Our Lean DigitalSM approach and patented Smart Enterprise ProcessesSM framework reimagine our clients’ operating models end-to-end, including the middle and back o�ces – to deliver growth, e�ciency, and business agility. First as a part of GE and later as an independent company, we have been passionately serving strategic client relationships including approximately one-fifth of the Fortune Global 500, and have grown to over 70,000 people. The resulting domain expertise and experience running complex operations are unique and help us drive choices across technology, analytics, and organizational design.
% of respondents rating the challenge as problematic
Data security concerns
Legacy systems
Insu�cient skills of IT sta�
Data quality issues
Data privacy and confidentiality concerns
Inability to do fast experiments
Poor collaboration/functional silos
Insu�cient budget
Insu�cient data analysis and insight
Lack of standards for interoperability and interconnectivity
Unclear business case for IIoT
Governance and change management
Low appetite for risk
Insu�cient skills for ongoing operations
10 25 5540
39
37
15
27
12
32
20
27
34
17
27
34
29
5131
25
25
23
30
28
25
32
32
34
30
32
34
36
Operational improvement
New products and services
Enhanced customer experience
New revenue streams and business models
Business agility
Supply chain optimization
Creating a new market, or growing the existing one
Better asset utilization
More market share
Better pricing
Regulatory compliance
58
63
65
49
33
49
40
46
44
43
29
22
67
67
77
67
43
40
55
47
47
28
20 50 80
IIoT-specific process redesign
Use of digital technologies
for IIoT Advanced organizational
models to leverage IIoT
Estimated annual positive
business impact from IIoT specific
initiatives (USD million)
526
12688 59
530446
% of respondents rating the current impact as high on
LEAN DIGITALSM
Leaders Strivers
Leaders StriversLeaders Strivers
Leaders Strivers
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