Cosmetics maker Revlon operates more than 500 of its IT applications in a private cloud built and operated by its IT team. It saved $70 million over two years, and when an entire factory, including a data center in Venezuela, was destroyed by a fire, the company was able to shift operations to New Jersey in under two hours. Cloud-based online services are feeding the trend both by facilitating remote-work patterns that free up space and by connecting that space with organizations which need it. Standard Bank of South Africa said Mobile origination is not only far more accessible for customers; it is also 80 percent cheaper.
In India, Unilever provides mobile devices to rural
distributors. The devices relay information (such as stock levels and pricing)
back to the company, so Unilever can improve its demand forecasts, inventory
management, and marketing strategy—raising sales in rural stores by a third.
Businesses are also integrating the digital world into physical work
activities, thereby boosting their productivity and effectiveness. Boeing uses
virtual-reality glasses so that factory workers assembling its 747 aircraft
need to consult manuals less frequently. The rise of the mobile Internet and
the evolution of core technologies that cut costs and vastly simplify the
process of completing transactions online are reducing barriers to entry across
a wide swath of economic activity. The private sector has a big stake in the
successful transformation of government, health care, and education, which
together account for a third of global GDP. They have lagged behind in
productivity growth at least in part because they have been slow to adopt
Web-based platforms, big-data analytics, and other IT innovations. Technology-enabled
productivity growth helps reduce the cost burden while improving the quality of
services and outcomes, as well as boosting long-term global-growth prospects.
Editing partner: Phindile Khumalo
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