Siemens Digital Industries Software is emphasizing the significant opportunities available for machine builders in the UK and Ireland to enhance efficiency and productivity through digital transformation. According to a benchmark report, a substantial majority of machine builders identify increasing productivity and efficiency as their primary challenge, with 48% lacking a strategy for digital transformation.
Ben Sheath, VP and Managing Director, UK & Ireland, Siemens Digital Industries Software, highlighted the transformative potential of digital readiness, stating, “Machine builders who are digitally ready can respond to market trends and customer demands faster, better, and at a lower cost. The old objections of scalability and affordability no longer apply.”
Siemens emphasizes that digital transformation is inevitable, with smart technology poised to significantly improve critical processes in the machine building industry. The report indicates that over two-thirds of machine builders recognize the need for increased efficiency, making digital transformation a crucial imperative.
The industrial machinery benchmark report also highlights key insights:
Strategic Focus: Improving delivery speed and reducing time-to-market are identified as the primary challenges for respondents.
Digital Transformation Strategy: Almost 50% of respondents do not have a digital transformation strategy in place.
Parallel Product Development: Only 21% of respondents practice parallel product development, creating both physical and digital products simultaneously (referred to as a Digital Twin).
Value from Services: While 15% of respondents add value through remote maintenance, training, and other services, an alarming 48% claim to generate no value from services.
Confidence in Measuring ROI: Only 14% of respondents are very confident in their ability to measure the return on investment in digital technology and skills for manufacturing processes.
Maintenance Benefits: Nearly half of the machine builders consider preventive and predictive maintenance to deliver the greatest benefits in reducing risks and downtime.
Siemens urges machine builders to recognize the changing landscape and take advantage of the current fiscal incentives. With the UK Spring Budget allowing companies to write off the full cost of IT equipment, plant, and machinery against taxable profits in the year of investment, Siemens emphasizes the enormous first-mover advantages available. The company encourages immediate action, asserting its commitment to helping machine builders navigate and leverage the opportunities presented by digital transformation.