Fast pace and new technology drive new opportunities and challenges in working with Life Cycle Management
We live in a time of change. The pace is ever faster, driven by new technologies and groundbreaking ideas. We are seeing self-driving cars on the streets and we are surprised at how well the net seems to “know” us. We are living in the age of information and in what is sometimes referred to as the Fourth Industrial Revolution. We see that technology is driving change in how we work, but also in what we expect and what is asked of us. It will lead to opportunities and challenges for all of us in industry, society, our daily lives while certainly bringing about a lot of change. These changes are also driving opportunities and challenges in how we address working with Life Cycle Management, including in the design of both the technical and the support systems. Read more about Systecon CEO Tomas Eriksson's take on the future of LCM for the future in my column.
We live in a time of change. The pace is ever faster, driven by new technologies and groundbreaking ideas. We are seeing self-driving cars on the streets and we are surprised at how well the net seems to “know” us. We are living in the age of information and in what is sometimes referred to as the Fourth Industrial Revolution. We see that technology is driving change in how we work, but also in what we expect and what is asked of us. It will lead to opportunities and challenges for all of us in industry, society, our daily lives while certainly bringing about a lot of change. These changes are also driving opportunities and challenges in how we address working with Life Cycle Management, including in the design of both the technical and the support systems.
Making the right decisions throughout the life cycle
The rapid changes in technology and behavior are of course being reflected in Systecon, in our consultancy work and in the Opus Suite. Everything is faster, larger and more complex. The amount of available data, the complexity of the systems and deployment schemes and schedules are steadily growing and continuously changing at a faster rate. This means that even more emphasis needs to be put on making the right decisions throughout the life cycle. This implies the need for being able to work with these issues effectively and to ensure that analyses of greater complexity are conducted more frequently. By doing this it will be possible to maintain a competitive edge by increasing business value, ensuring high operational availability and keeping costs down.
The cornerstones of LCM
To meet these rapid changes and reap the full benefits we need to integrate the work with Life Cycle Management more closely with the procedures of the client companies, authorities and organizations. This requires improvements of management aspects, analysis capability and the integration with the underlying information flow; in other words, to be able to work with the cornerstones of LCM. Read more about this in the article below.
It is more important than ever to be able to communicate analytical results so that they are accepted and have an impact on organizations. To incorporate this in management procedures, it must be simple to understand, even for non-analysts, and furthermore accepted as important input in decision making. It is imperative to convey the importance, and relative simplicity, of the analysis to a greater extent.
Quick turnaround from question to result
One key success factor will also be the ability to achieve a quick turnaround from question to result. When a new scenario or new design appears we need to be able to quickly give a response in what this implies in terms of cost and effectiveness. To enable this, it will be more important to have the analysis readily available through fast and seamless integration with the necessary data sources. We will also have to make it possible to speed up the analysis for larger cases as well as answer new types of questions that arise.
Knowledge is power
In the 17th century sir Francis Bacon once said: “knowledge is power.” This is truer than ever because today we have access to huge amounts of data. How we can turn this data into knowledge quickly, and how can we convince organizations to act on the conclusions reached is and will be the future differentiator between success and failure in all organizations.
Systecon has a clear and valuable idea
Systecon has a core idea that has been in place throughout our existence. This idea is quite simple and is based on a few building blocks. It focuses on the importance of combining the effects of all technical and the support systems decisions and evaluating how those decisions influence total cost and effectiveness. To help us transform this idea into reality for our customers we have focused on building a consultancy service with highly skilled and committed consultants combined with our approach to Life Cycle Management and Opus Suite, our world-leading software suite for Analytical Life Cycle Management.
Taking the helm of a company with such a clear and valuable idea is an exciting and challenging task. With ongoing efforts to fulfill our customer’s high standards combined with committed and skilled co-workers we have built a great foundation for the future. In this combination we have the prerequisites for continuing to develop our methods and deliveries to meet and exceed our customers' expectations, particularly in our delivery of consulting and software. We aim to be the supplier that contributes to cost-efficiency in all the projects we participate in, while also providing new opportunities in terms of the development of work methods, as well as the skills and capabilities of the organization.
Systecon has grown rapidly in recent years. We have successfully diversified into new industries and entered new markets. As the new CEO, I am thrilled to further this development and help bring Systecon’s value-added processes to new customers, markets and businesses.
Looking forward to 2018
My wish is that all of us at Systecon work more closely with all of you, to understand your needs in an ever more complex world, and to be able to serve you even better in the future. Thank you for a great 2017, and I hope we will have an even better 2018 together.
Merry Christmas and a Happy New Year!
Tomas Eriksson
CEO, Systecon AB
tomas.eriksson@systecon.se