By the DynaSis Team
Although a growing number of business owners understand that technology can increase productivity and reduce risk, in our experience, only a few have made a solid connection between technology and their company’s financial health. In his recent article, “Technology Outcomes Every C-Level Executive Should Expect,” DynaSis President Dave Moorman explains how system availability is a key factor in effectively reducing expenses because of the productivity gains it supports.
This benefit is a fundamental and realistic goal for every firm. However, to reap the greatest benefit from technology, companies need to keep moving their efforts forward. Digital technologies—from the cloud to predictive analytics—are transforming the revenue generating capabilities of organizations at all levels.
Using technology to touch more customers, more often and more easily, for example, forges stronger relationships that increase loyalty and sales. Ecommerce and the automation it enables streamlines product sales and delivery in ways never before possible, reducing overhead and increasing margins. Perhaps most importantly, none of these solutions is an island, and firms that interconnect technologies in new and inventive ways are seeing even greater benefits. We recently read a case study that illustrates this point.
Royal Caribbean Cruise Line has a class of ships (the Oasis line), each of which carries more than 5,000 passengers. To avoid diminishing the passenger experience on such a massive ship, Royal Caribbean decided to eliminate waiting lines for dining and other onboard activities, which research showed would create a more intimate, personal environment for the passengers. To achieve this goal, the cruise line deployed an integrated network of shape-recognition cameras, smart cards, hundreds of wireless access points and other digital technologies to provide the information necessary to eliminate these lines. The project was a rousing success.
We don’t have room to explain how they did it here, but the point is that they leveraged technology in a broadly connected way—one they had never considered—specifically to achieve a profit-based goal. Technology is more than a set of discrete solutions—the network, the desktops, the website, the CRM system, etc. When companies stop viewing each technology solution as the response to a problem and start to consider all of them collectively as an interconnected opportunity generator, they can create a value chain that strengthens customer relationships, fosters greater competitiveness and promotes business innovation.