Where your company does stands on Technology Platform?

In present COVID situation, every company has an opportunity to evaluate on various business & technology parameters. This will guide to draw strategy plan for next 5 years with goals.
This is a challenge, who & how this evaluation will be done to draw plan. Few guiding parameters are listed. However companies based on their strengths & opportunities targeted in next five years can decide priorities.
A holistic approach is always recommended, which consider following parameters in order like

  • People
  • Processes
  • Technology

Companies can be classified in 4 categories from A to D, in increasing technology adoption.

Class A

  • Legacy product/ services are supported
  • Traditional business approach
  • Mostly family owned
  • Supported by loyal old customers/ employees
  • Manual Planning for most business processes
  • Information in silos from finance, operations etc
  • No defined next 5 years plan

Class B

  • Improved processes compared with class A, but no KPIs(Key Performance Indicators)
  • Functions optimized with limited integration
  • Digitisation in limited processes & start use of analytics
  • Young team but guided/ depended on few individuals for decisions
  • Few business operations are identified for improvements & optimisation

Class C

  • Well drafted vision for next 5 years
  • Better cross functional integration
  • Business Models to predict process changes are drawn
  • Digital technology adoption plan is drawn & implementation is in process
  • Integrated KPIs are defined to evaluate operational performance
  • Most employees are professional qualified, trained & motivated
  • Standard operating procedures are drafted & followed

Class D

  • End to end processes are defined & integration is in operation
  • Business processes like Sales & Operation Planning is implemented
  • Integrated Business Planning is available
  • Digital Supply Chain is implemented, linking customers, suppliers & operations.
  • Effective use of emerging technologies are used to achieve operational excellence
  • Follow Industry 4.0 guidelines
  • Focus on Customer Centricity
  • Employees are highly professional by qualification, trained & motivated
  • Strong Financial Planning

Please compare parameters of present operations to identify your class & draw new strategy plan