The Challenges of Digitalization and the Digital Thread
We have come a long way from thousands of pages in filing cabinets and snail mail communications, but the digitalization of data comes with its own set of challenges. Digitalization allows for the automation of transactions, but because it deals with people, there are still limitations. How are companies evolving with these changes? On today’s episode of The Digital Enterprise Society podcast, Craig Brown and Thom Singer are joined by PROSTEP, Inc. US Federal Sales Executive and Industry Manger Jim Markwalder for a conversation about the history, progress, and challenges of digitalization. On today’s podcast, you will learn: What is digitalization in 2023? Traditionally, business has been all about people and documents. Digitalization made it possible to save, store, and manipulate documents. The challenge then came with emailing copies and maintaining version control. Digitalization happens when moving from documents to data. Limitations to digitalization Can a contract become just data? Smart contracts and blockchain are designed to manage and control contracts. The legal system is slow to catch up with digital documents. Digitalization is not limited to data sharing, it also includes collaboration. Applying digitalization to the digital thread While digitalization applies across the globe, the digital thread applies specifically to the product lifecycle. The digital thread addresses the beginning to the end and back to the beginning again. The digital twin holds the possibility of a manifestation in the real world. The expression of a part from a digital format is a physical manifestation of the digital twin. Open CLM and PROSTEP allows increased visibility and federate data. Getting the digital thread right Leading industries, including manufacturing, are setting the standard. Healthcare, retail, utilities, and construction are all adapting well. PROSTEP is a vendor-neutral leader who supports end-to-end digitalization. Continue the conversation with us within the Digital Enterprise Society Community at www.DigitalEnterpriseSociety.org. Digital Download: Virtual Round-Table Series