27 Jun Challenging The Myth of ‘Better, Faster, Cheaper’ in Asset Resilience
Posted at 10:22 in Flood Resilience by Henrik Pedersen
It is a cliché in business, the idea that when it comes to buying services and products, you’re limited to two of the three: faster, better and cheaper.
It’s understable that traces of this thinking still linger in business though.
Historically, rigid business models and slowly developing technology meant that this cliché more or less defined product positioning for most of the businesses in the B2B sector, as well as many of our expectations as customers.
But things have changed, and I believe this convention is being proved to be a myth.
Let’s just take a look at our everyday lives. Time and again we find our expectations growing as consumers. We expect that what we bought last year will be cheaper, better and faster this year, and companies like Intel, Samsung, Dacia, Amazon (and even older businesses like BT) are actually delivering on this promise.
So if businesses have to compromise and settle for two of the three, how exactly are these companies consistently delivering against all three criteria?
I believe the answer lies with technology and how we leverage it.
As businesses, it is necessary for all of us to use technology. But not just in product development – we need to use it to drive the level of business efficiency required to deliver on the promise of being better, faster and cheaper for our customers.
In our own business, we have been able to leverage technology in some surprising new ways:
- Better ways to access and leverage complex computer systems and data
- Deeper, more cost-effective research and development in our field
- Faster product design, product prototyping and trials
- Falling costs of sophisticated lab equipment
- Faster, more effective patent registration and protection
- More efficient manufacturing and supply chain control
This has resulted in lower product development costs and significantly reduced time-to-market for what traditionally might have been 5-10 year projects.
We have been able to empower customers to adopt an approach like Asset Resilience in ways that would have been cost-prohibitive just a few years ago.
Such accessibility to Asset Resilience has been transformational for businesses wanting to think about the future value and efficiency of assets without being penalised in the present.
With significant future proofing and business continuity benefits at its core, Asset Resilience is universally beneficial to companies across Britain (including UK plc). And this makes perfect sense: in times of enormous change, it pays to use change to your advantage where you can, and prepare for it where you can’t.
Asset Resilience is built on this premise.
It’s a better way for businesses to think about managing and protecting their key assets. it is a proven way for organisations to regain business continuity faster and, by embracing innovation and technology, it can also be a cheaper approach to traditional building, repairs and maintenance in the long term.
With this in mind, we urge you to follow in the footsteps of the companies that are challenging the myth of never being able to be ‘better, faster and cheaper’. After all, the same approach will always yield the same results – Asset Resilience is how we help our customers break the mould for the better.
For more information about Asset Resilience and how we’re helping DNOs embrace it, click here.