ARC has been tracking the digital transformation initiatives of companies by conducting surveys and analyses for the last 5-7 years. All this information has been collated and the Top 25 global industrial digital transformation leaders, across multiple industries and geographies, have been identified. ARC’s Industrial Digital Transformation Top 25 report highlights companies that are successfully integrating digital technology into all areas of business, fundamentally changing the way they operate and deliver value to their customers. BASF features in the Top 25 as digitalization is an integral part of BASF’s business.
The tidal wave of digital transformation has restructured global industrial operations. In a pandemic-affected world, digital transformation has moved beyond the “nice to have” boardroom jargon to a “must-have” imperative. Organizations were forced to adapt with agility and flexibility to this new normal and accelerate industrial innovation. Established practices and business models were disrupted and destroyed, but destruction led to reconstruction and new ways to resolve challenges.
Defining “digital transformation” is complex as it encompasses the gamut from technologies, processes, and collaboration across teams and geographies. ARC Advisory Group defines digital transformation as: “The integration of digital technology into all areas of business, fundamentally changing the way companies operate and deliver value to customers. The organization is typically charged to innovate and improve across multiple dimensions such as digital/disruptive technologies, culture and leadership, operational agility, workforce engagement, customer experience, environmental, social and governance, and competitive performance.”
This is the fifteenth in a series of blogs on the leaders in the digital transformation space.
Digitalization is an Integral Part of BASF’s Business
BASF takes a holistic approach to digitalization with the use of technology being used to solve concrete issues that translates to business outcomes. For BASF, digital is a tool to make the business better and the company invests in the company culture to make sure the tools are put into use. BASF strives for its vision to make digitalization an integral part of its business to create additional value for customers, grow the business, and improve efficiencies. The company is using digital technologies to integrate the supply chain with customers, suppliers, and partners. Climate protection is a crucial component of the corporate strategy.
The prevailing philosophy behind digital transformation has been that this transformation naturally translates to success. ARC will continue its research in all areas related to digital transformation to learn more about what is working – and what isn’t – as companies pursue their unique digital transformation activities. The Industrial Digital Transformation Top 25 report will be published annually. With this being the first issue, your feedback is very important to investigate new approaches and measures to adjust our methodology, identify successful digital transformation initiatives, and help the industry as a whole digitally transform. To download the final report, please click here.