In the era of Industry 4.0, the real and virtual worlds of manufacturing continue to merge as processes are becoming increasingly automated and digitized in both the United States and Germany. The Hannover Messe industrial trade fair, the leading event for Industry 4.0, has selected the U.S. to be this year’s Partner Country. The U.S. economy has a GDP of almost $ 17 trillion, meaning the U.S. accounts for nearly one quarter of the entire world economy GDP.
In a piece titled “The Future of Manufacturing in Germany and the U.S. – two success models enabled by smart financing” – which was published by our Siemens Financial Services Global CEO, Roland Chalons-Browne – he discusses the trend of digital manufacturing and how financial services can be a strategic value add to enabling organizations to harness the true benefits of Industry 4.0.
He emphasizes how the U.S., serving as the Hannover Messe Partner Country, will add further momentum toward digital manufacturing. As he writes, “technological advancements in digital manufacturing – coupled with financial solutions - are creating huge opportunities for manufacturers, promising better quality products while improving internal efficiency and reducing overheads.”
This blog showcases how finance can help pave the way for manufacturers to digitalize without vast initial outlays, creating value for customers. He explains, “by using smart financing techniques – such as tying payments to the performance or longevity of the underlying technology – specialist financiers can help manufacturers to identify worthwhile technology to implement by increasing transparency into the cost and value of the investment.”
I encourage you to give it a read.