Digitalisation in manufacturing could add more than 6% to company revenues, according to a report by Siemens Financial Services (SFS), if new methods of finance are deployed.
SFS released the report ‘Digitalisation Productivity Bonus’ at Hanover Messe 2017, the technology trade fair, and claims that digitalised technology could boost manufacturers’ annual revenues by between 6.3% and 9.8% by 2025.
SFS said: “New-generation digitalized technology (also known as Industry 4.0) is enabling manufacturers to improve performance through increased manufacturing productivity, improved planning and forecasting, enhanced competitive capabilities and greater financial sustainability.”
The report includes data from more than 60 companies, management consultancies, and academics, and names the potential for technology to boost revenue the ‘global digitalisation productivity bonus’.
SFS said that specialist finance options must be used to allow firms to harness these benefits, and the paper examines methods such as pay-per-use, working capital solutions, and technology upgrade finance.
Brian Foster, head of industry finance at Siemens Financial Services in the UK, said: “Intelligent financing arrangements…play a vital role in enabling organisations to access cutting-edge technology and start benefitting from the Digitalization Productivity Bonus.”