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Industrie 4.0

Family-owned companies digitize with an eye on the bottom line

Although Germany’s large family-owned companies are increasingly investing in digitization projects, innovations and new business models are not the priority.

26 Nov. 2017
Claudia Witte
PWC
Family-owned companies digitize with an eye on the bottom line (graphic: PWC)

The testing and consulting company PwC dubbed the survey " Fit for Growth: How family-owned businesses are positioning themselves to ensure their future growth ", the findings of which it has now published. Key finding: The willingness to invest in digitization projects has grown significantly. However, the willingness to open up new business areas in the process has not increased to the same extent: Only 18% of the approximately 300 German companies surveyed cite innovation leadership as the most important positioning target. Instead, almost one out of two companies focuses on quality leadership.

As a means to an end, managers also consider digitization from the point of view of cost reduction. Around 85% of respondents want to leverage digital technologies to reduce expenses, primarily through process automation. One reason for this one-sided orientation of the digitization projects could be the current lack of profits. So far, only a minority of decision-makers (14%) have benefited from monetary added value through the digital transformation, as a study by the IT management firm Kobaltblau showed last autumn.

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