Given recent developments in the global economy due to Coronavirus, the once stable industry has been thrown into turmoil. And with price transparency, deregulation, and fluctuating fuel prices on the cards, competition amongst the crisis is set to curate a cocktail of issues for this sector.
And we have the remedy. Whilst the transportations industry has always relied on up-to-date digitalisation and technology and has even been a vital force is leading the world in tech-terms, failing to keep up with it threatens the existence of your business.
Turbulence is forecasted - change is guaranteed.
Whilst digitalisation has always maintained a strong grasp on the transport industry, innovation is not to go amiss.
The process of R&D notoriously takes many years to complete, but armed with digital technologies that can provide data-driven insights into your business, and reduce the time taken to design and develop products, you can beat the clock. This is especially vital given the changes on a global scale that have rocked this sector to its foundations. And by streamlining each side of product innovation and commercialisation, improved efficiency can also be met.
An overhaul might seem unnecessary for such a quick-paced industry, but military precision starts with innovation.
Running a transport firm is by no means a simple feat. In fact, the challenge behind keeping the sector up in the air is down to one thing: meeting the customer’s expectations and keeping them happy. At the fore of achieving this for your business is sourcing an operating model that aligns your operations with your customers, and this pivots on a data-driven approach.
By bringing together the complex amalgamation of data between customer service agents and colleagues meeting the customer’s needs at each and every stage of the buying and travelling process can be achieved.
On top of this, businesses operating in the sector are fuelled by immense volumes of data that can be far too much to cope with at one time, especially when being translated for the customer. Monitoring and controlling it via operational models is key.
Michael Garcia Director of Marketing, Answering Legal
For those with an ear to the ground, this is also known as a Digital Transformation. A Digital Transformation rethinks how you manage your employees, your client’s and business’ data, and how you carry out your business operations. Or, in simple terms, a DT is the technological revamp your business needs to stay competitive.
The transportation industry stands firmly as a unique industry, bringing together technological innovation and the need to satisfy and protect customers at all costs. But it’s the dual-focus which confirms that the sector is due an intense digital transformation.
Alongside this, surviving the instability of this sector brings out this need to strive for loyal customers and innovative methods of communicating with them and your entire team, as well as the innovation required for such forward-thinking technology.
This starts with technologies devoted to that all-important communication. In fact, this is where the future of the industry pivots around, ensuring you can find security in the absence of stability, and streamline complex business processes with digital solutions for the entire supply chain.
Only recently has analytics, automation, the cloud, AI, augmented reality and the Internet of Things been integrated into the industry’s technological stance. And only recently have your competitors realised the importance of staying one step ahead. By harnessing third party services and algorithms in particular, cutting out development time and reaping the rewards of digital innovation are much easier to grasp.
SOURCE DATA-DRIVEN INSIGHTS
No customer can be reduced to a statistic, nor should they ever be - but using data-driven insights to tap into their exact desires is far more effective than assigning them a number, ensuring you can personalise the traveling experience.
TESTING PRODUCTS AND RECEPTION AT PACE
As with all leisure-focused sectors, the chief perspective looks at the customers’ satisfaction. By ensuring your products will satisfy your customers, you can be sure to score sales thanks to high-speed insights from data.
As the world around your sector changes, altering your transport company to grasp a hold of relevant business operations is key. Detect the exact products and services your clientele expects, and fine-tune your business’s innovation via data-driven insights.
VIA BUSINESS MODELS
Fundamental to this industry’s digital transformation is adapting to the disruption courtesy of new competitors. By harnessing new business models, the technological innovation can align with the business.
Innovation might be the buzzword of the industry, but putting it into practice is no understatement. Align your whole business digitally, and rethink production, supply, and communication with customers.
AND VIA YOUR BUSINESS’ GROWTH
Central to the industry’s future is that of driving growth to cope with the onset of thriving demand. And growing a business can start with something as simple as planting technology in all departments.
PREPARE FOR EVOLUTION
The current disruption evolving the industry is not a wave that will crest and crash onto the shore; it is simply part of the tide to come. It’s time to rethink technology, and never stop rethinking it.
DIGITALISE YOUR MILITARY PRECISION
Problems cannot be predicted, thus, by rooting technology in all facets of a business, issues can be identified, analysed, and solved at speed. That’s what you call customer service.
STAY CLOSE TO YOUR SUPPLY CHAIN
Collaboration is a core principle of the industry, but outside of the military perspective often taken, this should stretch into all areas of the business. And the supply chain must be a part of this, too, to guarantee customer care from underground tunnels to up in the clouds.
Taking things technological might seem a challenging feat set to put your troops through their paces, but with Lolly at every step of the way, navigating the new territory need not be difficult. In fact, with our tech-team assessing your business’ exact needs and walking you through each step, you don’t need a map, either! But, if you do fancy finding your way around tomorrow’s business technology, you can start here.
Join global leaders who depend on Lolly Co to transform their businesses with advanced technology & automation.
Discover how digital transformation can help your business accelerate by reaching new technological heights via a free consultation with one of our expert consultants.
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