Businesses today rely on technology to perform the most basic actions. From basic VoIP to complex enterprise asset management (EAM) systems, the technology you use in your day-to-day operations defines your organization’s efficiency and profitability.
With all of the new opportunities available, many SMB’s and minority business owners wonder what steps they should take and which emerging tech areas will produce the best returns on their hard-earned investment. Working with slim margins leaves little room for error.
However, you can build business solutions that will ensure future success by embracing emerging technologies and the unlimited potential they represent.
The Internet of Cars and Connecting Customers
Smart mobility is changing everything. Incredible strides in “connected vehicles” have provided the groundwork for many innovative concepts. The concept of the IoT (Internet of Things) is poised to revolutionize not only the way businesses market their products and services, but according to Thilo Koslowski of Wired Magazine,
“Connected vehicles will also expand automotive business models to include a much broader set of industries — IT, retail, financial services, media, consumer electronics.”
Practically everyone owns some sort of mobile device and wearables are steadily gaining ground in the consumer marketplace. Businesses have capitalized on existing connections such as Bluetooth™ and GPS to initiate a far more engaging driving experience. On the opposite end, when marketers incorporate any of these technologies, marketing automation and the ability to precisely target customers based on location becomes yet another reason why to get on the innovation band wagon.
General Motors: The path to innovation starts with their suppliers
Developing smarter, better, and more valuable products are what innovation is all about. For many years, automotive leaders such as General Motors have been on the frontline in discovering the many ideas that have improved the cars that we see on the road today. Surprisingly, many of these ideas did not originate from within or from their traditional suppliers. According to GM’s Chief Technology Officer, Jon Lauckner,
“Many of the best ideas for cars of the future won’t come from car companies at all, but rather from non-traditional auto suppliers, like Microsoft or Google, and from start-up enterprises that are on the leading edge of fields like advanced materials, telecommunications and green technology.”
Knowing where your clients are going and developing solutions that will help them get there, ensures that your company doesn’t get left behind. For example, in the automotive industry, electrification and lowering fuel costs through innovation is a crucial driver. Suppliers can leverage their competitive advantage by:
- Working to develop lighter weight parts, components and assemblies
- Improving parts consistency, reliability, and delivery performances through ERP system integration or similar advanced software
- Adding component embedded sensors that “talk” to smart car apps (again, the IoT) to improve vehicle performance and longevity.
How to Make it Happen
In order for your business to meet today’s challenges and help usher in tomorrow’s reality, it is vital to partner with IT innovators who can develop and run business applications designed to promote sales, improve operational strategies, and listen to conversations from your potential customers.
To find out more about innovations in the automotive industry and how your business can be part of it, attend the Michigan Hispanic Chamber of Commerce’s July, Tercer Jueves (Third Thursday) event. This event will be hosted by General Motors and will feature special guest speakers Carmen Weimer, Guy Lynch, and Matthus W. Joshua from GM’s Supplier Diversity Team, who will offer intuitive and valuable information in an environment tailored for building strong industry connections.