| | march 20148CIOReviewopinionin myRegardless of the industry, there are a variety of technological, demographic and economic factors driving an unprecedented era of change for today's businesses. The "always on," hyper-connected customer often uses more sophisticated and intuitive software at home than at work. For the first time in history, Millennials are outnumbering Baby Boomers in the workforce, affecting how today's businesses hire, retain and engage talent. On top of this, increased pressure on natural resources is causing companies to adjust their approach to areas such as manufacturing, supply chains and employee management to effectively manage scarce resources. For aerospace and defense industry, there are additional pressures driving the need for business transformation. Airlines and defense customers are expecting products that are more capable, cost-effective and reliable. And with the volume of usable industry data being generated growing exponentially, aerospace and defense companies need to find ways to extract value from that data. These changes in technology, workforce demographic and resources are just a few factors driving today's companies to adjust the way they engage, react and respond in order to grow and stay competitive. The question that will begin separating the successful organizations from others is if they are prepared to capitalize on these opportunities. Fortunately, this environment is rapidly evolving at a time when groundbreaking new software technologies, such as in-memory computing, cloud computing and mobile platforms are readily available. Today's CIOs need to understand and embrace these new technologies to prepare their businesses for the future. With cloud computing, mobile and in-memory computing, aerospace and defense companies can further streamline and optimize business processes to cut waste and improve responsiveness. Aerospace and defense businesses of the future will have information readily available at the fingertips of decision makers, program managers and material planners. In a rapidly changing world this is critical. Defense contractors need to adjust to shifting priorities from the government, while commercial aerospace and defense manufacturers need Resources, People, and Innovation: Driving Business Growth in Aerospace and DefenseBy Magnus Bjorendahl, VP-Aerospace and Defense, SAPThe Aerospace & Defense division of SAP [NYSE:SAP] helps A&D players address the challenges of market consolidation, reduced program funding, and increased globalization. SAP has a market cap of $93.48 Bn.
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