Posted on: 2 October 2024
Lloyd’s Register (LR) announces the launch of its Digital Maturity Framework and Index, a pioneering tool designed to help companies assess and benchmark their digital maturity.
The need for greater clarity and transparency in maritime digitalisation efforts has become increasingly evident. In response, LR commissioned Thetius to develop ‘The Benchmark’ report, which outlines LR’s detailed digital maturity model. The model is a starting point for understanding where an organisation sits on the maritime digital transformation spectrum — from foundational stages with little or no digital infrastructure to mature advanced data-driven decision-making.
LR’s Digital Maturity Index (DMI), a free, web-based platform based on real maritime use cases, allows shipping companies to self-assess their digital readiness, compare themselves against industry competitors, and identify potential areas for investment in technology and skills. In the pilot phase, five leading tanker and bulker companies participated and examined digital maturity across all aspects of their operations, from digital infrastructure to cultural integration.
Mark Warner, LR’s Global Content and Communications Director, said: “The LR Digital Maturity Index has been developed in collaboration with our pilot clients and gone through a rigorous and robust discovery process. It is unique in the maritime industry and incorporates close to 50 digital use cases. Our aim is to continue the pilot phase with more clients, primarily from the tanker and bulker segments, and then widen into other segments.”
“The preliminary results highlight that although companies are showing higher levels of maturity around the core enablers of connectivity, cloud computing and cyber security, there is far less maturity around the implementation of digital culture, skills, training and data standardisation. This reinforces the need for clear digital strategy adoption and a uniform approach to data standards.”
Thetius report’s findings, presented during the Smart Maritime Network event in Copenhagen this week, emphasise the importance of a comprehensive digital strategy orchestrated at board or C-Suite level, resource allocation both in technology and staff skills, willingness to take risks and experiment with new technologies and leveraging support from external expertise.
In alignment with the Digital Maturity Index, LR will also launch a new digital transformation advisory service designed to assist clients with overcoming the challenges of maritime digitalisation.
James Frew, Business Consultancy, Director Lloyd’s Register, said: “The Digital Maturity Index provides a useful framework for shipowners to assess their digital maturity, also allowing them to explore advisory support/services tailored to their needs. We are already supporting some of the largest vessel charterers around the digitalisation of their maritime businesses and now we are able to offer trusted advice to owners as to how they can reap the real benefits of digitalisation.”
More information about LR’s Digital Maturity Index and The Benchmark report available here.
