Tag Archive for: Fourth Industrial Revolution

How Industry 4.0 Is Shaping New Business Models

We live in a connected society that makes the most out of technology. Industry 4.0, the fourth industrial revolution brings with it an ocean of possibilities fueled by technological advancements such as interconnectivity, automation, big data, machine learning, real-time data and more. Examples are a GPS system that helps you get to your destination, virtual assistants such as Siri or Alexa, or even Netflix recommendations.  

The concept of Industry 4.0 refers to machines and products fully connected and exchanging data to digitize the sales cycle and other business operations.  

In this digital era, disruptive technologies such as the Internet of Things (IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way businesses create products and internal solutions, which were hard to envision decades ago. It’s no longer a matter of when, but how quickly you are going to integrate this technology into the way you do business to remain competitive. 

A recent study shows that only 14% of executives are highly confident that their organizations are ready to fully harness the changes associated with Industry 4.0.

Every company is different, but they all have one need in common. With digital transformation, the sales cycle also changes. Every business faces the challenge for real-time insight across processes, product and client engagement. 

That’s why you should consider Industry 4.0 as your best ally. However, that alone won’t do the trick. At the end of the day, it’s about to revolutionize the way your entire business operates and it will result in the scrapping of some old habits within the workforce.

The key Industry 4.0 technologies that transform businesses 

The Fourth Industrial Revolution or Industry 4.0 is in full swing. According to Salesforce, these are some technologies that you should be integrating into your business operation in order to be more valuable and transform the way you interact with customers:

Artificial Intelligence (AI): Forget about tedious workflows. AI is used in many ways, from obtgaining insights about your sales history, to predicting future customer behavior. Even more so if you understand the benefits of combining Artificial Intelligence with your current CRM software. With an AI-powered CRM such as Salesforce’s Einstein and Zoho CRM’s Zia, you will learn from past decisions and historical patterns to score the best leads for sales. You can also increase customer engagement as this technology helps you to get an emotional insight during the sales cycle. 

Virtual reality (VR): This technology offers unique experiences merging the physical and virtual worlds. Also, it will bring you closer to your customers. For example, an app that allows users to experiment with products before buying them will help to secure a sale. By offering them a personalized experience you can increase customer loyalty.

Robotics: This technology is changing traditional production relationships among suppliers, vendors, customers, and also between machines and humans. Automated robots increase business efficiency by learning from humans’ decisions. Machines are already transforming sectors such as healthcare and finance in which error-free activities are crucial. Machines are also great for taking care of some repetitive tasks, but automation won’t take away all jobs. This technology is making workers more efficient rather than replacing them. The human + machine is the winning combination that will make your business thrive.

Internet of Things (IoT): Nowadays it is imperative to have everyday devices connected to the internet and each other. A great advantage for companies is that they can collect customer data from these connected products. They allow businesses to learn how consumers use products or what they’re really looking for in order to launch more targeted marketing messages and shorten the sales cycle. IoT assisted production is already been used by companies such as Siemens, Airbus, and Cisco. 

Benefits of adopting an Industry 4.0 model for your business

The merging of technology and business is what can set you apart from your competitors. Benefits such as improved efficiency, lower costs, higher revenues, and innovation are significant. Therefore the importance of understanding how Industry 4.0 will help you seek new sales opportunities. 

Better supply chain management and optimization. Industry 4.0 gives you greater insight and data visibility across an entire supply chain. It also affects how products are customized, where they are made and how they get to us. For example, technologies like 3D-printing allow manufacturing companies to print their own parts, which can do wonders to improve product quality at a lower cost and faster than traditional processes. 

Reduce costs. Once automation and intelligence are built into products and sales processes, investments will pay off. Higher levels of automation results in less wasted materials and more efficient operation.

Become a consumer-centered business. Companies that monitor real-time data available with Industry 4.0 can give customers better service. It’s recommended that you also rely on a powerful ERP and CRM integration such as Commercient SYNC to be able to provide exactly what the customer wants and keep them happy.

Transform your business into a “smart factory”. According to Forbes, Industry 4.0 introduces what has been called the “smart factory.” In which cyber-physical systems (computers and networks) monitor the physical sales processes and make simple decisions on their own and become as autonomous as possible. This will make your company an evolved business that adapts to new demands. 

The positive impact of the above-mentioned technologies can have on your business is undeniable. Is your company ready to make the most out of those changes? Let’s talk about how connecting your ERP with your CRM can get your business into Revolution 4.0.

The Fourth Industrial Revolution: Rise Of The Intelligent Era

These are times of monumental change. A phenomenon is creating a new normal, a paradigm shift so life-changing that it’s rapidly transforming the way we live, communicate and do business. Life as we know it will never be the same again.

The entire world is in the midst of an incredibly exciting revolution known as the Fourth Industrial Revolution. Changes are taking place at lightning speed. Breakthroughs in emerging technologies are exposing a wealth of opportunities, allowing us to reimagine the world and reinvent business models.

The Fourth Industrial Revolution: The Era of Intelligence

The Fourth Industrial Revolution, also known as Industry 4.0, is poised to change the world like never before. It’s marked by the fusion of several technological breakthroughs. This fourth major revolution comes with the promise of radical changes and major overhauls of business models.

How Did We Get Here?

The world has seen three industrial revolutions, beginning with the First Industrial Revolution starting in the 18th century. This revolution was centered around steam, water, and iron. There was a seismic shift from rural to industrial and urban societies. In 1870, the Second Industrial Revolution saw the arrival of electricity and mass production.

Also known as the Digital Revolution, the Third Industrial Revolution began during the 1980’s, and saw the development of personal computing and mass electronics.

We are now amidst the Fourth Industrial Revolution where technological breakthroughs have the potential to drive tremendous growth and automation across industries worldwide.

Technologies Driving the Fourth Industrial Revolution

The Fourth Industrial Revolution was triggered by advancements in state-of-the-art technologies. These include artificial intelligence, robotics, blockchain, 3D printing, the Internet of Things (IoT), quantum computing, and others.

Industry 4.0 and the Industrial Sector

The industrial sector stands to benefit the most from the Fourth Industrial Revolution. We are already seeing massive changes driven by Industry 4.0 technologies across industries. From improving efficiency and productivity, to reducing operating costs and machine downtime.

Relative to other industries, manufacturing is undergoing its greatest change in decades. Manufacturers are moving forward with digital transformation and transforming into intelligent manufacturers in order to meet ever-changing markets and the emerging wants and needs of their customers.

The Impact of the Fourth Industrial Revolution on Your Business

The rules of the game are changing rapidly. In the face of evolving customer needs and competitive threats, technology has now become a key asset in helping businesses overcome these challenges.

Industry 4.0 technologies can empower your business to solve problems. It will expose a wealth of opportunities to meet growing demands and drive growth. Digital capabilities have the potential to enhance and increase the value of physical products and services.

Business assets can also be made more durable and resilient, and data and analytics can drastically improve how they are maintained. These are just some of the many potential benefits that Industry 4.0 technologies have to offer.

Data is the Holy Grail of Business

According to Gartner, data and analytics will drive modern business operations.

Data is at the heart of Industry 4.0. In this new age of digitization, the pace and flow of data has exploded and continues to increase. There is an urgent need for businesses to possess the ability to accurately collect and interpret the increasing volume of data.

Artificial intelligence can tackle large volumes of complex data with speed and ease. This can empower businesses to make intelligent data-driven decisions using insights gained from this data.

Speed is of the Essence: How ERP and CRM Integration can Help

To compete in the Connected Age, fast access to data is critical. Relying on manual data entry, or out-of-date technologies will no longer cut it. Customer and suppliers now expect responses faster than ever before.

Many businesses have multiple systems in which data is stored in silos, and nothing is quickly accessible. Integrating your business systems can change that. It brings all your data together in one place, making it available and easily accessible to the right people at the right time.

As a provider of innovative application tools and technologies, Commercient fully understands the importance and necessity of digital transformation. Commercient SYNC, the #1 data integration platform for sales, integrates your CRM and ERP systems, which eliminates data silos. It makes important information available in real-time, and accessible to people who need it the most.

Sales can access valuable ERP data from within the CRM. This includes customer information, sales history, invoicing multi-ship to addresses, serial numbers, inventory, and much more. Our two-way SYNC allows new orders, accounts, and invoices created in CRM to be integrated to ERP, eliminating double entry and errors.

Change is Inevitable, Resistance is Futile

In a race to reinvent business models and become a digital organization, growth and competitiveness has become increasingly dependent on digital transformation. Set a standard for the rest of your industry and embrace change.

Find out how Commercient can help your business prepare for the “new normal,” and survive and thrive in the Fourth Industrial Revolution. Please contact us today to learn more about Commercient SYNC and our other data integration apps, including IoT Pulse.

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The Drivers Of The Fourth Industrial Revolution

Change is the only constant, and innovation is the key to growth in any sphere. And with changing times, there arises a need to come up with novel concepts that offer solutions to current issues and bring operational convenience and efficiency.

A massive upsurge in ideas that evolved and are currently evolving in the minds of innovators, developers and leaders, has given rise to technologies that were merely dreams a few years back. Such disruptive technologies are growing and expanding at break-neck speed, carving out what is now being called the Fourth Industrial Revolution (4IR).

What is the Fourth Industrial Revolution?

This massive and rapid technological change, carrying the collective term Fourth Industrial Revolution, is heralded by the fusion or merging of technologies. They come together to form a cohesive whole system that thrives on connectivity.

Klaus Schwab, the executive chairman of the World Economic Forum, refers to this phenomenon as the second machine age. Here, digitization is equally supplemented by advanced research, developments and innovations in biological and other technologies.

What these disruptive technologies have done is change the entire landscape of the world we live in. It leaves no area untouched, and transforms the way we manufacture, manage, consume, and even live.

How it Began

The earlier industrial revolutions gave birth to cities and urbanization, automating labor-intensive manual jobs through the use of machines. Besides these, there were some landmark discoveries and inventions such as the lightbulb, telephone and the steam engine.

Similarly, what the Fourth Industrial revolution has done is introduce and spread digital technology, be it the internet or telecommunication. Today, at the helm of this is the inter-mingling of technologies, connecting individuals, societies and nations.

These technologies that are tying us together like never before are likely to continue this growth and connect billions of people. Experts predict that even the most remote areas of the globe will likely be connected in the near future.

Growth and Expansion

Leading the pack of trendsetters and trailblazers are the businesses and providers. They have made possible such mass consumption of new-age technologies through innovations that allows their scalability.

Taking a cue from current and future needs of customers in the areas of convenience, economy and resource conservation, latest concepts have taken shape and are likely to set the tone for the time to come.

Some of these marvels include artificial intelligence, seamless integrations, internet of things, machine learning and robotics. They are sophisticated in performance and inspirational enough to have an entire generation of users adopt these products and technologies. The possibilities they bring are sure to delight.

Such a mass adoption and use of these disruptive technologies makes each and every one of us today a contributor to this revolution.

Commercient as an Active Participant

In this rapidly changing scenario, to stay competitive, every business must change or face the possibility of redundancy. Customer success paints an entire gamut of interactions with the customer at its core, and that calls for smart connectivity.

Commercient SYNC integrates Sales and ERP systems, creating a seamless data bank that brings efficiency and improves sales and service. IoT Pulse offers micro-integrations between ERP Systems and over 815 commonly used apps, such as eCommerce solutions, email, marketing programs, and more.

Businesses are seeking such powerful solutions that seamless integration provides. Commercient aims to become a key player in supporting its customers with these capabilities that are driving this revolution.

The Impact

The widespread awareness of the Fourth Industrial Revolution means that we are in a position to direct the course of this transformation for the benefit of humankind. It is difficult to forecast the impact of this in its entirety, but the possibilities are many.

There is a need to maintain a fine balance between technological advances and core human values. After all, machines can never replace the human dynamic, and must only aid human progress.

If you’d like to bring the Fourth Industrial Revolution to your own business, contact us and learn how Commercient SYNC and IoT Pulse can help, please contact us today.

About the Author

Raj Adhi is a professional writer, editor and blogger. She has completed her Graduation in Chemistry and Masters in Journalism from University of Mumbai.

SYNC Demo integrate CRM ERP

Commercient at Dreamforce: Fourth Industrial Revolution Rocks Tech World

Wow! Dreamforce 2018 was on fire! An army of Trailblazers gathered in San Francisco in the tens of thousands for the biggest and the greatest Dreamforce ever! And the Commercient team was there as an exhibitor.

The Commercient Team meets with customers, prospects and partners

Commercient met with customers, partners and prospects at our booth. There, we discussed and demonstrated Commercient SYNC, our leading Salesforce integration app for over 85 ERP’s. We also introduced our new Partner Program, which you can learn about here.

In addition, we showcased IoT Pulse, which connects your ERP to over 815 apps, and our eCommerce solutions, SYNC for Magento and Sync2Pay.

The Commercient Team meets with Salesforce’s Keri

The Commercient team also attended the following events and keynotes:

  • Financial Force meeting at Fogo de Chao
  • Benioff Keynote
  • Dreamfest concert
  • 1% Pledge team meeting
  • Bluewolf Success Reception
  • AppBash party

On Tuesday, September 25, 2018, Marc Benioff, Chairman and co-CEO of Salesforce, got on stage and gave his most important speech of the year for the official “Celebration of Trailblazers” keynote. The Fourth Industrial Revolution was the highlight of his address.

“Everyone has to come in for the Fourth Industrial Revolution. It’s inclusive capitalism. Capitalism means we’re all going together into the future. We are leaving no-one behind.

“In a world where technology is taking us over and in a world where technology through the Fourth Industrial Revolution is grabbing us, realize that we all have a higher responsibility to ask that question, especially to see the gambits that are unfolding before us, especially as Artificial Intelligence gets released into the world.

“All of us have to ask the question – what is really important to us? What is the most important thing? What are our values? What are we going to stand for?”

Marc Benioff’s words moved and inspired Trailblazers to transform the way they do business, and make the world a better place.

Commercient Co-Founder John Angove talking to a customer

The Fourth Industrial Revolution is happening right now, and it’s changing everything. Technology is changing; everything and everyone is connected – all the time, everywhere.

Commercient is part of the Fourth Industrial Revolution, and we are ready for it. We are blazing a trail towards connection and integration.

At the Pledge 1% area with Commercient’s Corinne Allgaier, John Angove and Richard Jenkins

Salesforce is all about the 1% pledge, and our 1% pledge is about doing well and doing good. Doing well in business and also doing good in the world. It’s about expressing our values, and being aligned with our values. We have a higher responsibility to ask ourselves the question, what is really important to us?

Which is why Commercient leadership is committed to community efforts with Girls Inc, Habitat for Humanity, and the mental health advocacy group, NAMI Georgia. Commercient is committed to being involved in organizations that strive for human dignity and well-being.

Commercient’s Alex Damron and Richard Jenkins before the concert

On Wednesday night, legendary performers Metallica and Janet Jackson rocked the Dreamfest charity concerts in aid of the UCSF Benioff Children’s Hospital. The concerts were followed by an after party inside City Hall, which had Trailblazers partying up a storm until the early hours of the morning.

The conference ended on Friday with Dreamtalks from the likes of Deepak Chopra, Arianna Huffington and Jack Kornfield.

The Commercient Team at Dreamforce

After four days of fun and excitement, the Commercient team and other Trailblazers left the conference feeling tired, informed, inspired and motivated.

If you did not attend Dreamforce 2018, be sure to make it for next year’s conference. We hope to see you there!

Would you like to learn more about Commercient SYNC, IoT Pulse and our eCommerce solutions? Please contact us today!

About the Author

Anna Kinnear is a Sage Financials Consultant at Edgeware, and holds a Bachelor’s Degree in Accounting Science from the University of South Africa. She has always had a passion for reading and writing.