Honeywell’s former CEO underscores the critical role of a comprehensive digital strategy in overcoming recent challenges such as the Covid pandemic, inflation, and geopolitical risks. In his view, the company’s resilience is attributed to its ability to develop and implement a digital strategy that enhances productivity, transparency, and agility through centralized data.
The article explores the transformation of Honeywell from a diversified industrial conglomerate into an integrated one. Internally, the focus was on improving productivity, transparency, and agility by utilizing centralized data to inform business decisions. Externally, the goal was to leverage Honeywell’s systems to provide clients with new levels of value such as tracking emissions, conserving energy, and enhancing safety.
To achieve this transformation, Honeywell streamlined its infrastructure by reducing enterprise resource planning systems, websites, and applications. This simplification allowed for the definition of master data for various aspects of the business. The company then developed a strategy to effectively utilize this data. The author’s active involvement in monthly meetings and operating reviews served as a signal of personal commitment to the transformation and organizational readiness.
In conclusion, the article emphasizes the pivotal role of a transparent and coherent digital strategy in Honeywell’s transformation journey. Through this strategy, Honeywell has been able to navigate and overcome various challenges that have threatened its success in recent years.