As the former CEO of Honeywell until June 2023, the author emphasizes the crucial role of the company’s transparent and coherent digital strategy in overcoming the challenges posed by the Covid pandemic, inflation, and geopolitical risks in recent years. He attributes the company’s resilience to its ability to develop and implement a comprehensive digital strategy.
The article delves into the multifaceted transformation of the company from a diversified industrial conglomerate into an integrated one. Internally, the focus was on enhancing productivity, transparency, and agility through centralized data to inform business decisions. Externally, the goal was to leverage the data generated by Honeywell’s systems to provide clients with a new level of value, such as the ability to track emissions, conserve energy, and enhance safety.
The company’s transformation involved simplifying and reorganizing its infrastructure by reducing enterprise resource planning systems, websites, and applications. This streamlining allowed for the definition of master data for various aspects of the business. Subsequently, a strategy was developed to effectively utilize this data. The author’s active involvement in the company’s monthly meetings and operating reviews served as a signal of personal commitment to the transformation and organizational readiness.
Overall, the article highlights the pivotal role of a transparent and coherent digital strategy in Honeywell’s transformation, enabling the company to navigate and overcome a range of challenges.