Blog

The Rise of Technology and the Disruption in Established Industries

Aug 5, 2019

It’s no secret that technology has changed nearly all aspects of every day life.

It’s no secret that technology has changed nearly all aspects of every day life. Whether it’s keeping up-to-date on your cousins in Australia through social media or calling into a video conference while en route to San Francisco for a client visit, we are living in a constantly evolving modern age.

According to Forbes, “technology continues to disrupt almost every business sector with constant advancements and amazing new use cases.” In fact, Forrester notes nearly half of executives predict that “47% of revenue will be influenced by digital” and the “US B2B ecommerce market will be over $1 trillion,” all by next year. Organizations are running as lean as ever so enabling team efficiency and increasing productivity is key. Below are a few industries that have embraced this change and the technologies that support them.

Agriculture

Although an extremely established business, technology has rapidly altered the industry (with the term AgTech yielding millions of search results). Genetic advancements for both crops and livestock improve production, quality, and yield. Improved equipment such as larger combines and tractors, have enabled farmers to do more. Agricultural robotics can milk cows, spray and weed crops, and harvest fields. There are even drones that can assist with crop monitoring and provide valuable digital data that farmers can analyze into meaningful information to improve their operations.

Healthcare

This billion dollar industry is no stranger to innovation and one often thinks of new cancer treatments or advances in pharmaceuticals as a common outcome. However, there are other ways this industry is changing the “human” side of the business. Virtual healthcare allows for patients and doctors to connect between in-person visits through telecommunications. Not only does this mean broader access for people in remote areas, but it allows for efficiency through reduced wait times and resource overhead. Video technology also provides easier access to mental health services and can help bring awareness to the importance of this growing subject.

Finance and Banking

Phrases like bitcoin and blockchain seemingly pop into our news feeds regularly, but there are other ways that technology has permeated this sector. Mobile banking and budget apps give customers the visibility and transparency of information at their fingertips. The world of investments has also expanded beyond the experienced and savvy market watchers. Robo-advisors allow those with minimal experience to access and benefit from digital financial advice and grow their personal wealth.

Construction workers on site with sunrise.

Workforce Travel

At LodgeLink, we’ve created a platform to disrupt the status quo of crew-based workforce travel. We know that these crews of front-line workers (tradespeople, truck drivers, field engineers, surveyors, non-briefcase travellers) have different needs than corporate travelers. They generally work in secondary or tertiary markets, work on projects where commuting to and from home isn’t feasible, and maintain unconventional schedules.

We recognized this gap in the current accommodation marketplace so we developed an online solution focused specifically around this unique demographic. Long gone are the days of spending hours searching various websites, calling different hotels and lodges, and referencing maps to determine what properties work best for your workforce. We design and improve based on the needs of our clients, creating the tools to enhance employee experiences.

According to PwC, “it’s no longer if but how fast Canadian businesses go digital.” While most organizations identify as being “digitally aware,” there needs to be more action.

“In businesses that are successful, 75% to 80% of people involved in digital strategy are helping to form the overall strategy of their business. There’s no longer a difference between your digital strategy and business strategy—they’re now the same.”

LodgeLink's early adopters are using the LodgeLink platform to help transform the way they manage their crew accommodation. Our tools allow them to track their projects, manage accommodation budgets, and increase efficiency, saving them time and money and giving them the opportunity to focus on other strategic initiatives. When one of our customers compared our service to a traditional travel management company or arranging their own travel, they estimated LodgeLink saves them between 11-25% and has freed up their administrative teams. Many of the companies we deal with have annual accommodation spend of $500K – $2M, so the savings can be quite meaningful.