Embracing the latest technology in your business can be daunting, especially as technology continues to evolve at a breakneck pace. But trust us, technology is your friend. It can enable you to run your business more efficiently and allow you to focus on fulfilling consumer’s needs, which translates directly to your bottom line. Today, there’s a gap between companies that effectively leverage technology and companies that don’t. Those more effective at utilizing the latest technology often innovate faster, grow bigger, and get higher evaluations (and buzz) than those that don’t. In short – companies that embrace technology win.
Don’t believe us? Let’s take a look at the transportation industry:
The transportation industry didn’t see much innovation for years. The most exciting company for a while was Zipcar, a company that allowed people in urban areas to share cars. Zipcar was the first of its kind. Consumers were no longer forced to live with the longer term, more expensive transportation solutions of car rental companies or owning an automobile. It was a novel concept.
But while it was an innovative idea, Zipcar has been slow to grow. Today, nearly 15 years after its launch, Zipcar is in 31 cities. While profitable, Zipcar’s growth has been methodical and plotting.
Companies like Uber, on the other hand, have experienced stratospheric growth. Uber is only five years old and is currently in 300 cities. To support this rate of growth, Uber utilizes APIs. Uber focuses on finding drivers and matching them with riders and depends on APIs for the rest of their business needs: mapping, location, payment, rating capabilities, and more. Utilizing APIs for these key business requirements saves Uber time and resources so they can focus on what they do best. Uber is constantly in the news and to date, raised close to $6 billion. They can innovate faster and react quicker to market trends because they stay focused on their core competency and allow technology to handle the details.
Uber competitor Hailo seems to be catching on and using APIs one step further. Hailo is now in 20 cities, mostly in Western Europe. They recently announced a partnership with Booktable that will use the Booktable API and allow restaurants to book cabs for diners. This creates a smoother experience for the consumer and benefits both companies with limited administrative hassles or overhead. By simply merging these technologies through a single API, these companies will both benefit and create a stronger experience for their respective customers.
We recently published an article that details what an API is and some different ways it can help your business. APIs can increase the agility of your business, reduce human error, and get you up and running. Onboard embraces the latest technology and provides it to our partners so they can experience a strong rate of growth.
If you’re interested in how APIs and other local information technology can benefit your business, reach out to our team today.
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