Digital business transformation and technology adoption are not just buzzwords, but strategic imperatives for large enterprises that want to stay competitive and agile in the face of changing customer expectations, market dynamics and regulatory pressures. The pace of digital transformation (DX) is rapidly increasing as organizations of all types look to adopt new technology solutions to provide differentiated products and services in an ever more challenging operating environment. Let’s explore three topics that are essential for large enterprises that want to reduce costs and improve operational excellence with DX: managing endpoints, digitizing physical assets and prioritizing application modernization and migration.
Optimizing Costs and Achieving Operational Excellence
One of the key challenges that enterprises face when embarking on DX is how to optimize their costs while achieving operational excellence. Cost optimization is not only about cutting expenses, but also about investing wisely in the capabilities and technologies that can deliver the most value and impact. Furthermore, operational excellence is not only about improving efficiency and productivity, but also about enhancing customer experience, innovation and resilience.
Achieving both goals requires a holistic and integrated approach that leverages the power of digital platforms and best practices. According to the International Data Corporation (IDC) Worldwide Digital Transformation Spending Guide, worldwide DX spending is forecast to reach nearly $3.9 trillion in 2027 with a five-year compound annual growth rate (CAGR) of 16.1%.1
Gaining a Competitive Edge with Endpoint Management
Endpoint management is the process of centrally monitoring, managing and securing the devices that connect users and customers to an enterprise’s network and applications, such as laptops, smartphones, tablets and IoT devices. Endpoints are critical for enabling remote work, collaboration, mobility and customer engagement, especially in the post-pandemic era. However, endpoints also pose significant challenges for enterprises in terms of security, performance and management. With remote working here to stay, these challenges aren’t going anywhere and IT teams need to respond to enable efficient and secure working models while avoiding disruption and costly downtime.2
Efficient endpoint management can help enterprises achieve cost reduction and operational excellence by:
- Reducing the complexity and overhead of managing diverse and distributed endpoints
- Enhancing their security and compliance
- Improving their performance and availability
- Enabling the automation and orchestration of endpoint processes
To gain a competitive edge and deliver better outcomes for users and customers, large enterprises need to leverage a digital platform that can provide a unified and comprehensive solution for endpoint management, integrate with the enterprise’s existing network and SD-WAN provider and help with the transition to a more secure and optimized endpoint environment.
Investing in Digitizing Physical Assets
Digitizing physical assets entails transforming physical assets into digital assets that can be accessed, analyzed and optimized through digital technologies such as cloud, data, AI and IoT. Digital documents can be shared by multiple people simultaneously, facilitating better collaboration and enabling organizations to respond faster to market trends and customer needs. Also, digitization can significantly reduce the costs associated with printing, copying and storing physical documents.3
Digitizing physical assets can help enterprises achieve cost reduction and operational excellence by:
- Reducing their maintenance and operational costs
- Increasing their utilization and productivity
- Creating new revenue streams and business models
- Driving innovation and differentiation
To invest in digitizing physical assets, enterprises need to leverage a digital platform that can provide a scalable and secure solution for digitizing physical assets, integrate with the enterprise’s existing physical assets and systems and help with the transition to a more digital and data-driven asset environment.
Prioritizing Application Modernization and Migration
Application modernization and migration is essential for the enterprise’s performance and competitiveness, but also represents a major challenge and expense for IT. According to PWC, a deep assessment of an IT environment can yield insights about the state of legacy code, dependencies and technical challenges within the stack, data security and where the greatest cost and value drivers reside.4
Application modernization and migration can help enterprises achieve cost reduction and operational excellence by:
- Reducing their technical complexity
- Enhancing their scalability and performance
- Improving their security and compliance
- Enabling their innovation and agility
Enterprises need to leverage a digital platform that can provide a flexible and agile solution for application modernization and migration, integrate with the enterprise’s existing applications and infrastructure and help with the transition to a more cloud-native and modern application environment.
Leverage Lumen Expertise to Help Drive Better Cost Outcomes and Maximize Return on Investment (ROI)
Deploying new technologies and solutions to enhance customer experiences and operational efficiency can be costly and complex. DX and new technology adoption is a journey that requires clear vision, strong commitment and smart execution. Large enterprises need to balance their IT budgets with their strategic goals, to help ensure they get the best ROI from their technology spending.
Lumen is your single provider to enable DX, igniting business growth by connecting people, data and apps—quickly, securely and effortlessly. Limit spend with a single provider and benefit from network connectivity delivered by our expansive self-owned and operated Tier 1 global network. Our network, platforms and applications are built, supported and managed together to help maximize efficiency by providing peace of mind and limiting overall system management costs.
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1IDC, Worldwide Digital Transformation Spending Forecast to Continue Its Double-Digit Growth Trajectory, According to IDC Spending Guide, November 2023.
2Data Centre Review, Endpoint management: Overcoming common challenges in 2023 December 2022.
3AIMultiple, Digitization Benefits in 2024: Harness 7 Strategic Benefits, January 2024.
4PWC, Application Modernization: Unlocking Greater Business Impact, February 2024.
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