Advantages of connected machines
Read our whitepaper "Connected Machines" to learn about how the connected machines ecosystem is affecting business operations and processes in the manufacturing industry, how it can be implemented, how the necessary funding can be raised and why the implementation of a connected ecosystem is necessary to survive and thrive in the Industry 4.0 era.
Connected machines are changing the processes and business models of manufacturing companies.
Digital innovations, such as the Internet of Things (IoT), artificial intelligence (AI), advanced analytics, cloud computing and robotic process automation (RPA), are fundamentally changing how manufacturers operate, thus taking them to a new development level. Machines and industrial plants are connected via intelligent technologies - forming a connected machine ecosystem. In this connected system, machines can exchange information, execute processes autonomously and facilitate in making quick and agile decisions.
The ecosystem of connected plants and machines allows manufacturers to exploit the advantages of Industry 4.0 and to achieve an increase in production and efficiency.
There are many reasons why manufacturers should be focusing on connected machines, for example: remote maintenance at short notice can increase customer satisfaction, predictive maintenance can help in achieving cost savings. Companies which don't seize these opportunities, run the risk of being left behind by the competition.
While there are no defined rules for implementing connected machines, in this whitepaper, we will analyse few options. For example, the ecosystem can be created by upgrading existing machines and systems or by setting up completely new facilities. Another option is partnerships and strategic alliances with service providers specialising in this field. The most suitable method will depend on the individual situation of each specific company.
Financing and funding programmes
Though implementing a connected machine ecosystem can entail a significant financial impact, the companies can leverage various initiatives by the EU and Germany. An example is the financial support provided to the companies through the EU's Digital Decade programme which has made more than five billion euros available for digital projects. Furthermore, there are financing possibilities through private equity, venture capital and simple bank loans.
Our whitepaper, which you can download here, outlines numerous aspects of connected machines and explains why it will radically change the manufacturing industry.
Partner, Advisory, Head of Transaction Services
KPMG AG Wirtschaftsprüfungsgesellschaft