Annual Report 2018 of TÜV AUSTRIA Group

Real and Digital

Digitalization and interconnectedness of business are the engine for growth, jobs and new business models. Key added value here is provided by safety/security and sustainability. TÜV AUSTRIA provides guidance and support to its customers and partners in the process of digital transformation in an application-oriented and cross-sectoral manner.

What was initially a strictly technological change has now long since become a dynamic reality for society as a whole – digitalization has reached business, science, politics and personal reality of life all in equal measure. Now the task is to find the right approaches: to explore expenditures and benefits, to raise potentials and thus make digitalization a success factor – real added value for companies and employees.

The economy can benefit to varying degrees from the use of new technologies. The convergence of conventional production with information and communication technologies is making the structuring of production processes and workflows more flexible and efficient, thus boosting productivity.

In the service sector, on the other hand, digital technologies are not only creating innovation processes but are also making it possible for existing services to be modernized and new ones to be developed. And finally, developing and deploying digital technologies holds enormous potential for innovation. It promotes the implementation of new ideas and products, which opens up new business segments and markets. This is because digital change is also changing consumer behavior. And it is doing so at high speed. The classic task for every company, finding customers, has remained the same. What has changed is how and where. So, digitalization is not only an important issue for industry and big services companies – sooner or later, digitalization will affect every small and medium-sized enterprise in the B2B or B2C sectors. Digital change is affecting all industries, challenging established business models and creating new business ones.

Read the Report here