In a globally highly networked business world, businesses risk losing business opportunities if they invest too little in unlocking and using non-corporate data.
In the age of digitization, the lack of transparency is getting worse all the time, as the scale, scope, depth and dynamics of supply-chain data increase complexity.
CHALLENGES OF A MODERN BUSINESS WORLD
Digitization has long been arrived in many areas and stretches across all industries and sectors. New and more complex service offerings as well as digital business models are emerging and changing the way people and organizations act and above all interact. Digitization is the result, but also a facilitator of related developments such as globalization, mobility as well as the platform and sharing economy. Data is the most important resource and the biggest driver of this change as well as in areas such as Industry 4.0, Smart Grid and Smart Mobility. However, the quality, availability and the sharing of data often comes with enormous challenges for many organizations.
As companies expand globally, they can no longer be seen an island. It is rather an consolidation of different companies working together on projects. Together, they need to be flexible in responding to changing customer requirements to meet their needs. In such a networked world, the ability to work efficiently with and coordinate with external partners can make the difference between success and failure. Especially in the optimization of these interfaces as well as inter-organizational cooperation and associated processes lies great potential.
The fundation for optimization as well as a smooth and efficient interaction with partners in a global network is the availability of relevant data. According to studies, up to 80% of the required data are outside of the organization and are difficult to access due to silo-like IT systems and multiple isolated applications. The result is intransparency, inefficiency and error susceptibility within the collaboration. Studies also show that companies risk missing business opportunities if they invest too little in developing and using non-corporate data.
Heavily inhomogeneous IT landscape through silos and isolated solutions
Availability of current and reliable data
Ensuring the necessary process and data quality
Limited control over data usage
Lack of legal framework for the exchange of data
Ensure a consistent view of the data
HOW IT WORKS
Neutral instance based on a decentralized infrastructure
Multilevel and decentralized role and rights management
Decentralized data management to ensure data sovereignty
Legal framework and a trustworthy relationship with business partners
Safe, traceable and GDPR complaint data exchange
Fast and easy on-boarding of business partners
The functions are similar to those of a cloud-based platform. These include, for example, centralized access to data, the possibility of collaboration between all parties, and a consistent view of the data. The key difference, however, is that the data is not stored centrally, but is still kept decentralized with the owner and their original systems. The Datea is made available, if needed, through the virtual data room or the virtual reference level of the ConnAct platform in real time. This, in combination with a non-manipulable audit trail, ensures data sovereignty, control, and traceability for the data owner at all times. It also always provide up-to-date data for any application and service at the required location.
In order to make the exchange and use of data as convenient and efficient as possible and to ensure the access to reliable data, first of all it is necessary to connect your own data sources and systems and to administer internal and external access options. Thanks to the fast and easy on-boarding process of business partners and the possibility to exchange data, ConnAct supports a flexible and agile way of working with partners, customers and manufacturers. This as well as the continuous and transparent collaboration and coordination allows a much stronger customer orientation and shorter product cycles.
The use of data mining and machine learning algorithms allows a comprehensive analysis of internally and externally available data. It makes it possible to make precise predictions, analyze existing processes and uncover optimization potential as well as automate your own and cross-company processes.
Create understanding of the demand for data
Ensure a single source of truth
Enable synchronized and transparent processes
Enable a consistent data view for all parties involved
Ensure GDPR conformity and information security
Possibility of implementing new business models
Making predictions and uncovering optimization potentials
Analyze internally and externally available data
Automate individual business processes through machine learning