Technology Vs Humans: Who Is Right Or Wrong? Part 2
When technology makes a real difference ...
Posted by Pritesh Ganatra on 16/07/2024 @ 8:00AM
Supercomputers have been around since the 1950s and have assisted in historic moments such as helping to compute the complex calculations of sending a manned spacecraft to the moon ...
Is your business like a Tesla, packed with the latest technology, or just a rusty old truck?
But compared to the Quantum Computers that have been developed over the past 20 years, the first IBM supercomputers now seem like rusty old trucks and nowhere near a modern Tesla.
"Businesses require more and more computing power to keep their competitive edge!"
So, it comes down to how businesses adopt technology and more importantly, how the technology is deployed and the information is relayed on how to utilise and optimise new ways of working to accelerate past your competitors at full speed.
Here is a hypothetical scenario. Two firms manufacturing and selling very similar products (minor differences so that patent laws are avoided) and sales are neck and neck. Both have similar operating costs, overheads, natural losses (damaged/lost items, warranty claims etc) and profit levels. Both firms' route to market is through an independent installer network.
The first firm decided to spend double on both external innovation and internal IT, Telecoms and Technology deployments. Operating costs go up by 30% and affect the profit lines on the P&L ... or so it seems.
They implement a piece of smart tech into their product design on the external innovation costs. They hold a launch event to show how they are now one step ahead of the other firm and how it will be a benefit to the installer network by having a competitive edge when selling to consumers.
In terms of IT, Telecoms/Technology deployments, the IT team develop their own asset tracking apps(Internet of Things/IoT), apps for electronic signatures of inventories and proof-of-deliver (PoD) documents. The telephony system was upgraded to integrate with the CRM software so that customers details pop up when they call into their supplier.
Twelve months later, they have not only increased sales through the added tech in their product, but have increased customer satisfaction and confidence, with reduced damages/lost items through the use of IoT assets and real-time PoD tracking. This had an overall positive impact across the business and despite the increased expenditure, this was offset by the overall sales performance.
Profits increased by 20% year-on-year!
The other firm decided that they did not want to spend any extra external or internal technology as they felt that they had the better product in the first instance. They relied on the loyalty of their network, not knowing that consumers were almost demanding to have smart technology products when considering their next purchase.
The installers, not wanting to miss out on sales, started to buy more and more products from the first firm to the detriment of the second. This was not a choice of price, but rather to give the consumer a product hat suited them better.
"Customer satisfaction and confidence is important!"
So do you give your IT team the financial means to strategically put systems in place to allow the rest of the company to do their job efficiently? Do you give your customers and clients the best experience and elevate your company over and above your competitors?
Until next time ...
PRITESH GANATRA
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more, it may be a great idea to give me a call on 01604 926100 or take a look at my website which you can find by clicking here.
The word 'Technology' has too many connotations in today's world!
Where do we start? Simple terms like 'IT' and 'Telecoms'? or terms that appear NOT to have an actual meaning at all!, e.g. 'Internet of Things (IoT).
Technology also encompasses specialist products and services like 'Rugged' and 'Tough' android devices, Lone Worker Software, panic alarm devices, smart energy devices, low energy lighting, credit card terminal (PCI DSS) security, indoor/ outdoor Wi-Fi systems, Ultrafast Gigabit internet connectivity, access control systems, industrial IoT circuit controllers.
BTS UK can consult from simple solutions to the most complex, provide some of the products through a wholesale channel, bring together a multi-disciplined 'Task Force' to deliver and implement complete Technology 'projects'.
I am your technology problem solver and I look forward to helping you.
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