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The Caterpillar Business Transformation Story - 'Innovate or Die'

Presented by Greg Folley

Caterpillar is a prime example of a company adapting to the changing market around them to maintain their relevance. We have seen a number of past Fortune 500 companies resting on the laurels of their success to then ultimately fail because they never invested time, talent or technology into moving with the market.

In an interview when asked 'Is Caterpillar a tractor company, a machine company or a technology company?', Greg Folley replied 'the answer is really that we need to become more of a solutions company for our customers and that might take us in a number of different directions.' And they are preparing for this by changing the very mindset of their people and by being unafraid to move away from what has brought them incredible success historically. 

This session will cover:

  • What does innovation mean to Caterpillar and how is that shaping its future direction?
  • How has the market dynamic changed and how is Caterpillar transforming internally to put the customer at the forefront of its solutions strategy?
  • How has Caterpillar driven innovation into its product development process?
  • How is Caterpillar forming a broad analytics ecosystem and leveraging this to accelerate the creation of a platform that can analyze data?
  • Driving, developing and executing innovative initiatives to support customers
Greg Folley, Caterpillar
Greg Folley

Vice President, Caterpillar

Gregory S. Folley is vice president of Caterpillar Inc. with responsibility for the Sustainable, Work Tools and Industry Solutions Division, created in 2015. Under his leadership, the division brings together Remanufacturing, Work Tools, OEM Solutions and Defense & Federal Products in order to drive results and increase partnership with our dealers. Earlier this year, Folley was named Caterpillar’s chief analytics and innovation officer, and he worked to better capitalize on the growing importance and excitement of data analytics and drive innovation to support customers. Later that year, the Caterpillar Board of Directors named him as the vice president of his current division.