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Why all companies should become "technology companies"

13 June 2022

This is the first in a series of articles on how technology and the digital world can help improve your business or project.

Usually, when we mention "technology companies", we think of purely digital projects, internet companies or those whose product is based on technology. Such as software companies (Figma), digital services (Spotify), or social media (Instagram), to name a few, among many other possible examples. And it is very accurate.

However, what we do not have in mind is that, in my opinion (and that of many others), experience tells us that almost all companies should ensure that they also become technology companies to a degree or other. They are in whatever industry they are in, have some product or service and are doing what they are doing right now.

Many companies are already or are on their way to it and are not aware of it. Let's look closely at some businesses and subtract everything the digital world offers. Indeed many companies will see that they are a crucial part of their value chain and would not be able to operate without this critical piece. A management system that helps optimize a production chain, a relationship established with the customer digitally, etc...

Here we can talk about the paradigm shift that technology has brought and how it has turned even the traditional industries upside down in a way unthinkable until now. With typical examples of how the largest hosting company in the world is no longer a large hotel chain, it's Airbnb and has no proprietary accommodation. Or that companies like Cabify, leaders in passenger transport, do not have their vehicles.

They have in common the technology that makes it possible to group supply and demand.

Precisely the key to all this is to see how technology and the digital world can add key aspects to your business. Going beyond what we already take for granted today, such as using instant messaging systems (slack or WhatsApp), making video calls (Zooming) or working with cloud storage (Google Workspace). Some of the main areas where you can help improve are these:

  1. Interaction with your customers.
  2. Linking and empowering the workers in your company.
  3. Transformation of your products and services.
  4. Process optimization.

In the following article, we will see how Interaction with your customers can make a qualitative leap using technology, and we will know some examples.