Running enterprises: part four of the Accenture Report series
Digital technology levels the playing field in a number of ways. For example, it enables small companies to operate at a level of productivity that would be impossible if a large number of employees were required. Also, the Internet is itself a level playing field. A well maintained and professionally developed website can make a small company look like a big company. Clients and vendors can't tell how big an e business is.
Numerous storage systems, such as virtual vaults, safeguard information by controlling who has access and what they can and cannot do. IT security engineering has become a vital part of digital operations and is continuing to improve.
Businesses are always looking for ways to get things done in a shorter amount of time. IT lightens the burden on staff by enabling them to get on with the important work while computers handle the second tier operations.
IT also provides wireless access to a company’s computer network, enabling executives to work from home or while traveling. This ease of access permits increased productivity and greater flexibility. Communication is at the very core of modern business and digital technology provides the means to utilize employees and service providers more efficiently and with greater productivity.
Digital technology decreases the time it takes to bring a product to market. It begins with computer aided design and moves all the way through testing, usability testing and manufacturing. It also makes it possible for global teams to all work on the same project at the same time. This crowdsourcing approach allows for rapid development and greater innovation.
Digital technology also provides the communication network that supports stakeholder integration on all levels, from employees to investors and it enables customer service to take place in a truly global market.
IT makes process improvement an ongoing reality by integrating sales, resource planning and other metrics into a single real time platform, this cuts costs while improving efficiency. This includes financial planning, product creation as well as real time feedback that permits continuous improvements of operational methods.
Digital technology gives companies the edge to grow domestically and expand globally. It enables the outsourcing of non-central functions that would add to overhead and slow down core productivity. Digital technology is the key to a productive and successful future for companies worldwide.
Other Accenture Series Articles:
New series: Accenture Strategy and Oxford Economics Report
Making Markets: Part Two of the Accenture Report Series