Finding the right support for your digitalization plans

In a recent newsletter sent to Canadian Machine Tool Distributors Association (CMTDA) members, association President Marc Hasrouny made reference to how the industry has seen notable advancements in digitalization and connectivity. He pointed out that the integration of Internet of Things (IoT) technology and data analytics has “revolutionized machine tool operations, enabling enhanced productivity, predictive maintenance, and improved overall efficiency.”

Hasrouny stressed how important these advancements will be to sustain growth and remain competitive.

The challenge for a lot of shops is that they may not know where to start on this digitalization and connectivity journey. Beyond the advanced machines at the core of their business, shop owners have to consider ERP systems, MRP systems, any legacy technology, and the general online security of their operations.

For those with the bench strength, it could be worth having a point person in the business responsible for mapping how a potential IoT strategy might roll out.

For those not sure how to strike out on this path, the Canada Digital Adoption Program (CDAP) might be valuable. This program offers government funding to digitalize and boost a business. It gives businesses access to $15,000 in grant money to evaluate problems, discover opportunities, and create a custom digital adoption plan.

Beyond this plan, the CDAP can provide $7,300 to hire a post-secondary student or recent graduate to implement your digital adoption plan.

The CDAP also offers as much as $100,000 in interest-free loans (based on company size) to support the implementation of the digital adoption plan. This could be used for software, hardware, and training.

The analysis looks at a business’s internal and external communication, automation and AI, branding and marketing, and security to see where it can be strengthened.

The program is geared to Canadian-controlled, for-profit businesses with 499 or fewer employees. Visit https://tinyurl.com/yckk2a45 for a full list of requirements.

The benefit of this kind of analysis is having a fresh pair of eyes evaluate a part of the business that, while not seemingly at the core of what you do—making parts and delivering to customers—can be critical for smoothing out workflow, from raw materials to final invoice payment.