With the fast-paced ongoing technology and workforce advancements, what is your company's strategy to support investments in related technology?
We have a deep understanding of not only how digitalised technology works, but also of how technology can be practically implemented to deliver its benefits. We support Industry 4.0 adoption for all our customers by providing customised financial solutions that can help them achieve their goals. We offer specialised software finance solutions for solutions like MindSphere, because we understand that this is what the industry needs – fast, effective and smart finance solutions. Our comprehensive range of financial solutions makes it possible for manufacturers to ease budgetary constraints and profit from the benefits of digitalisation effortlessly.
With today's innovative and data-rich work environment, analytical-based decision making is of utmost importance. How is your company evolving itself in this area, so as to have the ability of carefully taking risks and making well-organised decisions?
Analytics and data mining solutions offer a host of information at our fingertips, allowing us to make calculated decisions. But since our inception, our decision-making has always been centred on both, financial data and industry insight. Close ties with customers & vendor partners makes us privy to industry information. This combination of data and on-ground information gives us the advantage of being informed and aware of our risks, enabling us to make swift and sound decisions. We keep a tab on industry trends and adapt our decision making to suit future requirements.
Siemens Financial Services published a whitepaper 'Countdown to the tipping point for Industry 4.0', which talks about practical steps for manufacturers to gain competitive advantage from Industry 4.0 investment. How does this whitepaper stand out as a guideline from the rest?
Our research doesn’t just pertain to the information we gather from topic experts; we reach out to our biggest and most reliable source of information – our customers. The whitepaper talks about real challenges faced by manufacturers today and brings to light how only many manufacturers are piloting digital transformations in developed countries. However, it is challenging to make this a sustainable mode of manufacturing without cash flow pressures. Showing a significant boost in short-term returns or managing cash flows because of investment in technology is proving to be difficult. While digitalisation has numerous benefits, the cost of digitalisation is often an obstacle to adopt new technologies, making Industry 4.0 Finance, or as we call it, Finance 4.0, critical to a company’s ability to invest in new technology
Could you please share some insights on overcoming the challenges of adopting Industry 4.0.?
Our study showed that one of the top reasons for challenges in adoption of digitalisation is lack of the right financial solution. An organisation moving towards Industry 4.0 needs a customised finance plan that can cater to a business’ short-term and long-term goals post digitalisation. One should find the right partner for the company’s success – one should collaborate with organisations that can provide solutions that are best for the business. Industry 4.0 is for everyone, irrespective of the size or scale of operation. High precision at low costs is what the industry demands and the only way to meet that demand is to ensure that one has superior technologies and the right finance to back this change.
What does the year 2020 look like for your company?
I believe we are in an exciting phase in the industry currently. With technology upgrades come customer demands that are also challenging for us as finance partners. These demands push us to continue to think beyond the obvious and adapt to changing market demands. 2020 is going to be about Finance 4.0, and we are setting ourselves apart from the mass of traditional financers by doing what we do best – financing the future of manufacturing.