We all know that to be successful these days, businesses must transform and stay on top of the innovation curve. In a study conducted by MIT Sloan Management and Capgemini Consulting, more than three quarters of executives stated they needed to invest in technology in the near term, but face a host of challenges associated with doing so successfully. While we all concede that working with paper processes is, in today’s world, an archaic way of running your business, how do you surmount technology that was cutting edge 12 months ago (or even less). More importantly, what do you do if your business is, quite literally, paper based? Lexmark International, provider of printing, imaging, software and solutions services in more than 170 countries, has done it successfully. Keep reading for a summary of a whitepaper SAP issued on how Lexmark was able to do this, courtesy of Forbes staff writer Chandni Vyas.
Lexmark’s digital transformation, according to Vyas, was hinged on the company’s ability to transform its business model from manufacturing hardware into becoming a provider of business solutions. While optimized customer service is certainly key to any transformative effort, Lexmark had to think about how its machines (and the processes they delivered) would automate and talk to one another. To be successful, they implemented a three-pronged strategy to drive innovation:
Read the full Forbes article here. You can also download a copy of the SAP sponsored report: Looking for a Digital Transformation? Start with Paper.
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