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The biggest barriers to digital transformation and acceleration in industry: Part 4

Updated: Apr 26, 2023

Welcome to the fourth and final post in the biggest barriers to digital transformation series.

  • In the first post, we introduced the 8 common barriers to digital adoption, acceleration and transformation faced by capital-intensive industries.

  • In the second post, we reviewed those barriers in detail and focused on cybersecurity concerns, difficulty replacing legacy systems, and linking investment with business goals.

  • In the third post, we explored challenges associated with knowledge gaps and silos across the business, and employee resistance to change in a risk averse culture

In this post, we’ll look at the final three common barriers hindering and slowing digital adoption in industry today including proof-of-concepts that never make it to production, lack of leadership buy-in and support, and choosing the wrong technology partner. Then we’ll consider what’s happening in the world today to alleviate some of these challenges.

6) Proof-of-concepts that never make it to production

When it comes to machine learning and artificial intelligence, data science fails to take proof-of-concepts into development. This is frequently due to lack of internal know-how, time, and all associated costs.

Some organizations have attempted to build their own digital twins. These projects often fail when organizations quickly discover it’s just not that simple:

  • It’s very expensive

  • It’s time consuming

  • It’s not their core business (they are producers, they don’t build software)

  • They repeat mistakes that others have made, learned from, and solved

  • It’s difficult to scales to multiple, varying sites with different data requirements

  • It will likely never have as many features & functions, or file format compatibility

  • Creating value for their personas is difficult and very time- consuming, if they get that far

  • Even if, or when, they solve all of that, they have found it’s too expensive to maintain and update the software

How VEERUM alleviates this concern:

At VEERUM, building and perfecting digital twin technology is our core business. We’re the fastest industrial digital twin in the world with a proven track record for creating value for all our personas. VEERUM is fully scalable and improves KPIs for any industrial asset, from a single well site to multiple global assets for the biggest energy producers in the world. We are always innovating, adding value, and ensuring that our clients have all the training and tools they need to maximize that value.

7) Lack of leadership buy-in and support

If leadership does not buy in, you will not succeed, or at least not in time to stay on pace with your industry.

  • Leadership needs to drive change, change management, and be prepared to mitigate all the barriers we have already reviewed - quickly, knowledgeably, and effectively.

  • Without effective leadership and buy-in, your organization will incur wasted cost, effort, confusion, and lack of motivation for future transformation initiatives. What’s more, you’ll encounter loss of potential return on investments, and possibly lost key staff due to frustration and lack of clear direction, guidance and perceived outcomes.

  • Leadership needs to be prepared to champion change, previously unknown risk, training, education, transformation, and adoption. They need to be driving to a clear, positive outcome across the business. This takes time, dedication, perseverance, and commitment. Digitally savvy leadership can support less knowledgeable counterparts, but everyone needs to be aiming for the same goal consistently and relentlessly.

How VEERUM can help:

VEERUM will work with you to provide all tools and information you need to succeed. We do everything we can to empower you and help you every step of the way.

8) Choosing the wrong technology partner

It is common in the initial throes of digital transformation to invest in too many vendors. It is also common to invest in the wrong vendors.

Digital transformation is not about more technology, it’s about the right technology to support your organization’s business strategies.

Pick a vendor that has proven experience in your space, who can show you a list of key players in your industry with whom they already work, who can show you an exceptional NPS score, who are security certified, and have impeccable reliability scores.

Take the time. Do the due diligence. You will not be disappointed.

What’s next?

Before we dive into actual solutions, it’s important to look at the bigger picture of what’s happening in the digital tech landscape that is solving these common challenges.

Our blog series will look at six current trends working to alleviate the barriers to digital adoption. This includes affordable data capture, cloud first and cloud native viewing, data aggregation, data contextualization, machine learning, and data abundance.

Check out our 30 minute live VEERUM platform demos every other Tuesday.

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> No, I'm not interested in the live demo - Download the Digital Transformation Whitepaper


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