Written by 5:32 pm Australia, Interesting Reads, Popular Blogs

Digital Transformation Strategies for Australian Businesses: Lessons from Industry Leaders

Digital Transformation Strategies for Australian
Sharing is caring


In the post-pandemic era, digital transformation has emerged as the primary investment goal of almost 40% of Australian manufacturers to boost automation, robotic process automation, mobile, connectivity, and the Internet of Things (IoT).

The Australian government adopted a similar digital transformation strategy for various Australian Public Services with the help of Digital Transformation Agency (DTA) to connect with the information and communication technology (IC) suppliers and the government.

To further support digital transformation strategies in Australian businesses, the Australian government declared an investment of AUD 1.2 billion through the 2021 Digital Economy Strategy, with an additional AUD 347 million in 2022, with projected returns of almost AUD 315 billion.

What is Digital Transformation Strategy?

Digital transformation strategy is the comprehensive framework for the adoption of digital resources such as digital infrastructure, Internet-of-Things (IoT), artificial intelligence (AI), automation, and cloud computing to enable ease of business, seamless integration of industrial operations, and enhanced revenue generation.

Key Digital Transformation Strategies

Boston Consulting Group (BCG) reported that almost 80% of Australian corporations embraced digital transformation strategies and bolstered their revenue by 15 percentage points over 3 years.

Figure 1: A holistic digital transformation strategy

Six key digital transformation strategies were developed by these businesses to augment the odds of success from 30% to 80%. They include a comprehensive and lucid approach, commitment from top as well as middle management, superlative professional expertise, an agile adaptable mindset, establishment of cogent goals and metrics, and deployment of customised technology and data platforms.

Here are a few examples of Australian organisations which embraced an outstanding digital transformation strategy.

Successful Digital Transformation Strategies of Australian Industry leaders

Deployment of Advanced Cloud Services

In 2017, the National Bank of Australia (NAB), the top banking institution in Australia, explored the Amazon Web services (AWS) and AWS Customer Enablement to integrate its existing capabilities with digital technologies for more agile and enhanced customer services.

Cloud capabilities of AWS

Figure 2: Cloud capabilities of AWS

The implementation of the digital transformation strategy over two years involved training of more than 4200 employees in cloud services, with at least 550 receiving AWS certification. Within only 50 days, almost 30 applications were migrated to the cloud with 100% patching and backup compliance. The successful deployment enabled 100% availability for 400 services migrated to the cloud.

Customised Technology for Integrated Operations

In April 2017, South32, a global mining and metals company headquartered in Perth, Australia, with operations spanning over Australia, Southern Africa, and South America, partnered with General Electric (GE) Mining to implement a three-year digital transformation strategy to enhance the safety and productivity of its diverse mining operations. South32 adopted GE’s PredixTM platform to optimise the totality of its operations by integration of individual industrial assets and equipment, rapid and accurate data analysis, and real-time insights.

In November 2021, South32 collaborated with Tata Consultancy Services (TCS) to rejuvenate its IT infrastructure and service desk management. TCS utilised its Machine First™ Delivery Model, powered by ignio™ AIOps and ignio ERPOps to consolidate, streamline, and simplify South32’s IT model as well as implement a unified service desk for its Australian operations, including high priority assistance from on-site IT staff.

Adoption of a Suite of Cutting-edge Technologies

In 2016, BlueScope, a leading steel manufacturer and supplier spread across 16 countries and headquartered in Melbourne, Australia, deployed Microsoft Dynamics 365 (D365) with the Crowe Metals Accelerator (CMA) for efficient enterprise resource planning (ERP), along with a customer portal ‘SteelConnect’ developed to streamline the customer-initiated product exploration.

Customer-centric product portal ‘SteelConnect

Figure 3: Customer-centric product portal ‘SteelConnect’

In 2019, BlueScope further leveraged Microsoft’s machine learning technologies to optimise its steel-making operations through smart hardware, artificial intelligence, and critical data analytics. The organisation adopted AI-powered robotic automation to streamline the financial operations with the help of UiPath’s innovative platform. To date, BlueScope has invested more than AUD 30 million for digital transformation.

Disclaimer

The Content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content), is a service of COLITCO LLP and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is not a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should make their inquiries about any investments, and Colitco LLP strongly suggests the users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice), as necessary. Colitco, at this moment, disclaims any liabilities to any user for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Colitco LLP. Some images/music used on this website is copyrighted to their respective owner(s). Colitco LLP does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions, or are believed to be in the public domain. We have used reasonable efforts to accredit the head wherever it was indicated as or found

Visited 74 times, 1 visit(s) today

Sharing is caring
Close Search Window
Close