Can you (or your delegate) answer most questions/statements with a strong 'yes'?

1. The Internet of Things (IoT) and digitalization are not just buzzwords in our marketing materials; they are viewed as essential realities within our organization. 

2. Our enterprise resource planning (ERP), sales, manufacturing execution system (MES), and finance systems are already integrated into a singular, cloud-based data stack, essentially a modern data warehouse. 

3. Data is extracted from our source systems (such as SAP, Salesforce.com, MES, etc.) on a daily basis at a minimum. 

4. We have hired data scientists to work with our departments to develop appropriate algorithms for interpreting the data across our entire value chain. 

5. Our Chief Digital Officer, and/or Chief Information Officer, is responsible for both customer-facing and internal digitalization solutions. 

6. Our progress in digitalization is discussed at every board meeting, and it is owned by the CEO who reports progress to the supervisory committee on a regular basis. 

7. We have evaluated our competency framework for digitalization and made necessary updates. 

8. We hold regular skip-level meetings with our digital native employees to understand any gaps they perceive. 

9. (Bonus) We have discontinued the use of PowerPoint to report on business performance, and instead use display tools such as Power-BI, which are directly linked to our data lakes.

If you answered ‘yes’ to most questions, great!

You have your digitalization strategy under control and are in pole position for any tomorrow.

If you answered ‘no’ or are unsure about it, you most likely have an excellent opportunity to speed up your value chain to new levels.

Feel free to get in contact for an exploratory dialogue with the helmig advisory AG to assess the art of the possible.