For today’s modern businesses, customers reign supreme, so many organizations face the challenge of transforming into a digital business to meet growing customer demand. The power is shifting from institutions to customers, so it’s up to businesses to master both digital customer experiences and digital operational excellence. To do this, they need to increase operational agility and speed-to-market using digital technologies.
Leveraging Technology-driven Innovation
That said, firms need to take advantage of technology-driven innovation, an advanced discipline of rapid technology experimentation, to unleash disruptive change. The firms that leverage this tend to grow three to four times the industry average. Emerging technology practices evolve as the firm advances in their maturity:
- Beginner: Firms in this stage focus operations on things customers value and lay the technology foundation for digital business.
- Intermediate: Firms in this stage are scaling their new operating models and building digital platforms that generate revenue and insight.
- Advanced: Firms in this stage are digital leaders that execute for the future and harness emerging technology to differentiate with digital.
Leveraging emerging technologies support operational excellence at all maturity levels. They compose your innovation portfolios that drive disruptive innovations. One example of where this has made a significant impact is in the transportation and logistics industry, specifically using data in motion for insights and automated decisions.
Best-In-Class Digital Leaders Embrace These Four Guidelines, June 25, 2019, Forrester Research
Emerging Technology Innovation in Shipping & Logistics
The traditional technology approach to logistics has been to host everything in a data warehouse and use extract, transform, and load (ETL) tools to rationalize data followed by a series of business intelligence tools to analyze it. However, innovation has taken place across the customer and partner ecosystem when it comes to tracking, analyzing, and responding with data.
By implementing a real-time open digital platform, shipping and logistics companies now have access to data in motion for intelligent automation, shipping optimization, rule-based alerting, and connected community. Results include the fast collection of traffic events from ships/ports/authorities, a better way to describe and manage shipping and port assets, and transition from existing IT systems to ones that leverage IoT, AI, ML, cloud, and blockchain.By implementing a real-time open digital platform, shipping and logistics companies now have access to data in motion for intelligent automation, shipping optimization, rule-based alerting, and connected community. Click To Tweet
A leading provider of global shipment management solutions, CargoSmart uses big data for greater visibility and benchmarking. Its digital services enable shippers, consignees, logistics services providers, and ocean carriers to get the information they need to strongly compete.
TIBCO’s agile technology allows CargoSmart to facilitate, or to co-design with customers, custom analyses, and dashboards. It’s shortening time to market and delivering exactly what customers need to meet their business objectives. As a result, the company has seen a four-time increase in vessels monitored and a 3.5 percent reduction in carrier fuel consumption.
Join us for this webinar featuring CargoSmart and Forrester to learn why your firm needs to leverage technology-driven innovation and how CargoSmart has implemented emerging technologies to drive operational excellence.