Tech-Enabled Companies Shaping the Future

Posted on Dec 1, 2023

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Tech-Enabled Companies Shaping the Future

In the digital age we live in today, technology plays an essential role in all industries. Companies that use technology as a key part of their business strategy are at a competitive advantage, driving innovation and achieving success at a rapid pace. These companies are called “tech-enabled companies”.

What is a tech-enabled company?

A tech-enabled company is one that incorporates technology into its DNA. It recognizes the importance of adapting and leveraging technological solutions to optimize its internal operations, boost efficiency and improve the customer experience. Technology is not just a support for these companies, but a central element of their business strategy.

The difference between a tech-enabled company and a technology company lies in its focus and core business nature. A tech-enabled company incorporates technology into its operations and strategies to improve efficiency, process automation and the customer experience. Technology is a support or enabler for achieving its business objectives. On the other hand, a technology company (or “tech” company) has technology as its main product or service. It develops and offers innovative technological solutions, such as software, hardware, applications or platforms, which are the essential elements of its business model. In short, while a “tech-enabled” company uses technology to enhance its business, a technology company has its essence and value proposition based on the creation and supply of technological products or services.

Advantages of tech-enabled companies

Tech-enabled companies enjoy several competitive advantages. By adopting advanced technological solutions, they can:

  1. Automate tasks and processes: Technology enables the automation of repetitive tasks, which increases productivity and frees up resources for more strategic activities;
  2. Scalability: With the right technology, companies can easily scale their business to meet growing demand, without compromising quality or efficiency;
  3. Agility and adaptation: Tech-enabled companies are able to quickly adapt to changes in market demands and emerging trends, seizing growth opportunities and overcoming challenges;
  4. Innovation: Technology is a catalyst for innovation. Tech-enabled companies are constantly exploring new solutions and ideas to improve their products, services and processes.

Examples of successful tech-enabled companies

Several companies stand out as examples of success in the tech-enabled world. Here are four of them:

  • Buser: revolutionized the travel sector by employing a digital platform to connect travelers to road transport companies. Just like Airbnb and Uber, using technology to offer a more affordable, convenient and personalized experience to its users;
  • Airbnb: revolutionized the hospitality industry by using a digital platform to connect people who want to rent spaces with those who have accommodations available. Technology enabled Airbnb to scale globally and create a more convenient and personalized experience for travelers;
  • Uber: combining mobile technology, geolocation and electronic payments, Uber transformed the transportation industry. Its platform connects passengers to drivers, providing a more affordable, convenient and flexible service than traditional taxis;
  • Amazon: started as an online bookstore and became an e-commerce giant. The company invested heavily in technology to automate and optimize its supply chain, improve the customer experience and offer a variety of products at competitive prices.

Not only “tech” lives the success of startups

Although tech-enabled companies have expanded their possibilities for growth and innovation, it is important to highlight that not all startups need to be technology companies to succeed. Sectors such as food, health and services also offer significant opportunities for startups that offer innovative and differentiated solutions.

Startups in the food sector can focus on sustainable ingredients or the delivery of healthy, ready-to-eat meals. In the health area, startups can develop technologies focused on well-being and remote monitoring. In the services sector, they can create digital platforms that facilitate on-demand services.

The success of a startup does not depend only on its classification as a technology company, but on its ability to identify problems in the market and provide effective and innovative solutions.

Although tech-enabled companies have their advantages, other startups (and/or companies) also have room to shine, the important thing is to find the right combination of innovation and value proposition for the target market

==Do you work for a tech-enabled company or a tech company?==

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