Cloud software company Operations1, which works on adaptive employee-led production processes, announced an €11.1 million ($12.5 million) funding round on Monday (Jan. 31).
This will help the German company scale its solution, which allows manufacturers to analyze and optimize work and processes, letting teams focus on “more complex and innovative activities.”
Per the release, industrial companies have also seen a competitive pressure to address customer requirements for product individuality and more seamless documenting. There’s also been a shortage of skilled labor, along with more challenging and complex processes.
Operations1 helps out with automating tasks and adding cloud-based knowledge to help with speeding up activities. Data gathered on the spot can help with optimizing maintenance, quality, assembly or audit processes, letting companies be more resilient and become more flexible.
“With many manufacturing companies still using paperwork in production today, it comes as no surprise they are struggling to compete against digital-savvy competitors as it blocks the possibility of making data-based decisions for continuous improvements,” said CEO Benjamin Brockmann.
“At Operations1 we empower operational workers and the company through intuitive, highly flexible software that can help navigate the turbulent and ever-changing challenges ahead.”
PYMNTS wrote recently that the modern chief financial officer, in this current environment, has new responsibilities, including scaling the business.
Related: Today’s CFO Focuses on Scaling Business, Making Data-Driven Decisions
“In my mind, the CFO’s role today is very focused on scaling the business and making data-driven decisions,” Avi Israel, CFO of Ermetic, told PYMNTS. “We need to build the infrastructure to support rapid growth and use data to measure all aspects of the business.”
In his new role, Israel said he’s facing new pressure including building and continuously refining the business model, including efficiency metrics and tracking data on the business. He said there was significant growth going along with that, and that a challenge included staying ahead of the game and letting the company keep growing.
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