Not big tech, high tech or deep tech but beyond tech
Weconet Technologies (trade name: Weconomics Solutions) helps organizations with data-driven organizing. We take data en humans as starting point and not IT and companies. We focus on aligning disruptive data technologies with fundamentally new business and operating models. We help with the planned abandonment of the dominant logic and phasing out legacy systems, ecosystem development, and implementation of the digital assembly line. This is a combination of the internet of things (determining facts), blockchain (not being able to unilaterally adjust facts about which there is consensus), smart contracts (using facts for processes), and artificial intelligence (enriching facts, think of ChatGPT). We do this in 4 steps:
According to Boston Consulting Group, only 30% of the digital transformation projects succeed. How is that possible if we spend billions of dollars worldwide? The problem is not IT, but the way we organize work, trust and attention. Weconomics transforms organizations into durable, digital and decentral network organizations (also called DAO’s: Decentralized Autonomous Organizations). We help (public and private) organizations to transform into relevant organizations for all the stakeholders (customers, employees, suppliers, investors, shareholders, partners, governments, environment and society). We focus on the alignment of disruptive data technologies with fundamentally new organization models and concepts. These technologies and concepts will make traditional organizations, supply chains and inefficient markets too expensive, almost by default.
Waste is the death of any achievement. A McKinsey study research has shown that bad data is on average costing businesses 30% or more of their revenue. Gartner has found that the average cost of poor data quality on businesses amounts to anywhere between $9.7 million and $14.2 million annually. At the macro level, bad data is estimated to cost the US more than $3 trillion per year (Harvard Business Review). In other words, bad data is bad for business. In figures are comparable in Europe and in the Netherlands, we could save 2,3 billion hours or 1.8 million FTE. The problem is that we don’t have a shared and accessible reality despite billions of investments. Not the technology, but the way we organize supply and demand of data is the problem. Organizations worldwide are looking for effective ways to reduce digital waste, lower information costs and improve customer services.
One of the new organization concepts to accomplish this is called: the digital assembly line; a combination of internet of things, blockchain and artificial intelligence. A blockchain creates rich data that, together with data logistics, assembles data into information. This will reduce digital waste and organizational costs by tens of percent. What the physical assembly line did in factories, will the digital assembly line do in offices.
Weconomics Solutions in a nutshell
Transforming organizations to be fit for a durable, data-drieven and decentral future is our core-business. We:
- help organizations with digital strategies, the development of data-driven ecosystems, new business- and operating models;
- are the inventor of the Community Model Canvas and blockchain-based digital assembly line;
- help organizations with concepts such as: internet of things, blockchain, smart contracts, digital twin, rich data, tokenization, data logistics, artificial intelligence, Web3 and the digital assembly;
- reduce digital waste, lead times and office costs with > 30%;
- combine modern organization science with disruptive data technologies;
- focus on the organization of data supply and demand;
- have seasoned experts in designing and developing new organizations that are fit for the durable, digital and decentral future;
- are an expert in the field of fundamental transformations, we advise on a strategic level and work industry agnostic;
- have our origin in one of the smartest regions in the world: Brainport Eindhoven.
Organize supply and demand of data with the lowest friction
The future will be durable, digital and decentral. So our solutions are not quick wins, we build to last. A sustainable data infrastructure is not the same as an app, API or website. We advocate a fundamentally new way of organizing supply and demand of data:
- organize access to data instead of ownership
- rich data instead of big data
- decentral data (Personal Data Service) instead of central (CRM, HR-systems)
- a shared and accessible reality instead of local bookkeeping systems
- smallest building stone and network instead of company oriented
- one touch data instead of copying, retyping and manipulating data
- shared reality data instead of bookkeeping per organization
We offer academy services (training, lectures, courses, cases etc.), project support (use case development, digital waste assessments, Community Model Canvas, scenario planning, backcasting etc.), HR-Services (recruitment, staffing, assessment, talent programs), consultancy services, software development (simulations, demo’s, proof of concepts, minimum viable products) and an expert network & knowledge center with dozens of own management books, articles, cases, courses and simulation games.
Some of our customers we could help with our advise, training, design and/or development solutions:
Our latest book: Data Wisdom
Data-driven organizing is man’s greatest and most important invention. Unfortunately, we have been using this ability below par in recent decades. As a result, we are currently insufficiently data-wise. We lack data wisdom to solve big problems of our time. Crises follow each other faster and faster and sometimes seem unsolvable. Think of the waning confidence in the government, shortages on the labor market and the consequences of climate change. Examples of problems that can be easily solved if we let go of our dominant logic and use data ‘wisely’ in decision-making. An average Dutch person is in 250 to 500 different databases with practically the same data. The government alone has 5,000 different databases with personal data. Patients are listed in 20 to 50 healthcare-related files. And per person we produce 15 MB of data per minute worldwide. Unfortunately, most of it is not used.
The way we organize data and information leads to numerous challenges. More and more people experience their office job as meaningless and three out of ten people experience information stress. Productivity is still barely growing, while the costs to our prosperity are increasing by 2-3% per year. This gap is filled with printed money with all the consequences that entails. Cyber-attacks are hardly insurable and we suffer from propaganda, fake news and disinformation. In addition, privacy cannot be properly guaranteed, algorithms are not transparent and the power of American and Chinese tech companies is increasing rapidly.
At least 30% of our time we spend unnecessarily behind the computer. In the Netherlands that is more than 2.3 billion hours or 1.8 million FTE. Spacious enough to solve most shortages.
Only 8% of companies in the supply chain can be called data mature. At the same time, nearly nine out of ten data integration projects and seven out of every ten digital transformation projects fail. Less than half of the companies indicate that they have sufficient confidence in the quality of their own data and only 15% in data from external partners. On top of that, there is also the fact that a quarter of the data in CRM systems is obsolete after a year. In short: there is a world to win!
Although data-driven organization is one of the most important inventions of humanity, we do not use this invention well. Then the question arises why it is so difficult to organize data properly. What exactly is stopping us? What is data and how can you best organize it? And when are you actually data wise?
In the book ‘Data wisdom: How data-driven organization reduces office work’, Paul Bessems and Leon van Ekeren provide answers to all these questions.
‘Data literacy’ teaches you to better understand and organize data. With data literacy you solve social problems, reduce costs and lead times in your organization, and concretely improve the quality of life of large groups of people. The authors are convinced that ‘more time’, not more money, is the solution to today’s social problems. Time currently hidden in redundant and unproductive office work. And we can free up that time relatively cheaply by investing in data literacy. Because it is simply not necessary that we check, email and text each other all day long. We can really spend that time much better on more essential matters such as caring for each other. More information (Dutch only).
Together with our partners we help organizations to transform in a truly durable, digital and decentral organizations. We create awareness and apply the concept of the digital assembly line. Our ambition for transformation programs is to:
- half digital waste, total office costs and information lead times
- double productivity and quality
We focus on:
- The organization of supply and demand of data with the lowest friction
- The transformation from company to network organization
- The transformation from local IT-systems to shared information- and transaction networks
- Organization design, development and implementation
- Challenges in the field of purpose, productivity, privacy, power, propaganda and processes
Weconomics Solutions is associate of the Weconomics Foundation and Weconomics Solutions is a trade name of Weconet Technologies BV.