The Digital Journey: Banking, Trucking & Logistics
The need for enterprises to go digital has never been greater than it is today. CIOs who once relied on analog methods of distributing and recording information now know how important it is to make the switch in order to thrive. A transition that requires immediate attention, the digital journey that banking, trucking, and logistics industries undergo is transformative. It allows companies to remain competitive in an ever-evolving world of new technologies.
Caught in an impasse, bank CIOs face a unique set of challenges. They must be capable of handling risk. They do this by creating a healthy marriage of modern tactics that make customer-focused finance the priority and setting aside a majority of their budget to handle everyday bank operations.
This two-step process requires future-forward thinking. In order to successfully navigate the transformation, they must first lower overhead costs without sacrificing the quality of the services being offered by the financial institution. Next, they must take the money they saved while doing so and invest in business initiatives that change the business entirely.
A tremendous tool in-the-making, next-generation IT infrastructures give CIOs as much as 50 percent of costs for customer-focused digital technology. The savings come from legacy IT architectures. By reinvesting the money into digital offerings, banks are able to become scalable and therefore, more capable of surviving the future.
To make the journey, a systematic process must be deployed. It involves taking older systems and replacing them with new systems as well as custom applications. Making the move to cloud-based platforms preserves valuable resources by lowering the day-to-day operations spending necessary to keep the bank’s doors open.
Modern applications help shape the customer experience. They’re necessary for growth and innovation. Without these changes, it’s hard to remain competitive considering how quickly other financial institutions evolve.
Trucking / Logistics
There are four things driving the trucking industry currently. They are Asset Tracking which accounts for trucks, shipping containers, and other tools of the trade, Fuel Management, Driver Safety, and Shipping Management. To better understand the importance of logistics technology, one must know why these areas of emphasis matter.
Let’s explore each idea fully, shall we?
1. Asset Tracking
Trucking technology has improved by leaps and bounds in recent years. It allows the focus to remain on the road and getting from Point A to Point B on schedule. Trucking companies are able to take stock of their entire fleet of trucks, shipping containers, and other pieces of equipment with greater ease thanks to a type of logistics technology known as asset tracking. CIOs are able to account for each and every ‘asset’ they have available so they can track individual performance and evaluate the necessity of what they have to work with.
2. Fuel Management
One of the biggest overhead costs CIOs in the trucking industry have to deal with is fuel. Trucking technology that allows truckers to take better account for the fuel they’re using and the miles they’re getting per gallon allows companies to reassess routes and come up with better solutions to keep costs down. With the proof available digitally for them to evaluate, CIOs can work around issues that cost them more than they anticipated by formulating a plan that makes fuel usage less wasteful.
3. Driver Safety
This part of the digital journey is among the most important as it has to do with safety. By keeping better records of safety issues, CIOs are able to reduce the amount of liability they carry as a company. Other entities are able to access the records with greater ease, too, which avoids delays and keeps more truckers on the road long-term. Without trucks delivering goods, there is no money to be generated.
4. Shipping Management
Accounting for every item loaded onto a truck or in a shipping container is time-consuming. One of the best ways to reduce the amount of time spent on paperwork is to switch to a digital option that automatically creates packing slips and invoices based on the items scanned and loaded. There’s less room for human error and more opportunity for flexibility.
It may be time for you to give us a call, send us an email, or browse our website – especially the testimonial page to see what some of our clients are saying about us. We are here to help you succeed, and to make sure you invest your time on what is really important. Contact nQuery today.