Halma is a global group of more than 40 technology companies whose strategy is to acquire and grow businesses in global niche markets in the company’s chosen areas of safety, health and the environment. Part of their new growth strategy is focused on scaling digital opportunities for their companies that take advantage of a range of new technologies.
The company’s Chief Innovation & Data Officer, Inken Braunschmidt, was tasked with unlocking each company’s potential to exponentially scale digital solutions. As Dr. Braunschmidt explained, “Many of Halma’s companies were already on the digital playing field, but they needed clearer direction about where and how to play. I wanted to understand how best to develop the right digital strategic framework, support and capabilities that would sustain them long-term and then embed these in every company.”
The goal was to define a process that could be used across the group—one that could make the assessment effective on every level, ranging from leadership, capability, assets, structure, people and technology. This would enable them to continue to grow in existing markets while also seeking out new ways to exploit their technologies in-market as well as in adjacent markets. The key question, however, was: How could they move up the stack and transform their business through digital?
Halma and one of its operating companies, CenTrak, worked with Hitachi to identify 10 potential models for scaling digital. They used this framework to prioritize investments for the next phase of their evolution by defining how to more effectively use digital / IoT to drive efficiency and maximize resources, identify new customers and create a strategic business roadmap. This built on CenTrak’s existing technical superiority of medical sensors that provide real-time location services, and extended their thinking on markets, partnerships, ecosystems and the value-stack.
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