By 2025, chemical company revenue will depend on innovative products and services that derive from new business models.
These new models range from relatively simple after-sales service offerings to complex outcome-as-a-service models and will also include programs to monetize corporate knowledge, intellectual property, and data assets.
Increasingly, these new ways of doing business will rely on real-time data sharing and collaboration with customers on new platforms, supported by extended partner ecosystems.
SAP is ready to help chemical companies deliver innovative products at scale and as outcome-oriented services with prepackaged offerings such as the SAP Best Practices for Chemicals package and SAP Model Company services.
Four Priorities for Success
We have identified four strategic priorities necessary for chemical companies to transform their business.
SELL BUSINESS OUTCOMES INSTEAD OF JUST PRODUCTS
SIMPLIFY TO SHRINK CYCLE TIMES
COMPETE AS AN ECOSYSTEM
ADOPT STRATEGIC AGILITY IN RESPONSE TO MARKET DYNAMICS
Coming from pure B2B push models in the past, by 2025 most chemical companies will apply
business-to-consumer (B2C) business models and concepts, including the “segment of one” concept, leveraging digital technology to deliver sustainable, co-developed applications, services, and business outcomes rather than simply pushing products into the market. They will develop and maintain customer relationships based on trust, joint development, new levels of customer experience, and shared values and risks as the new paradigm.
Companies will become intelligent enterprises on three distinct tracks as they evolve their strategic priorities to match their company’s vision. They will:
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