I remember the first time I heard the term oil fracking. I learned about it in the context of reprovisioning old oil wells that supposedly dried up.
Oil well fracking is the process of shooting high-pressure water into the oil well. The high-pressure water expands the cracks in the well and releases untapped oil. This process causes the oil well to be renewed.
Oil well fracking is the process of shooting high-pressure water into the oil well. The high-pressure water expands the cracks in the well and releases untapped oil. This process causes the oil well to be renewed.
So what does oil fracking have to do with untapped business potential?
Our businesses, just like oil wells have untapped potential that can be converted into productive business growth. One such example took place on the very first day, of my very first job, right out of business school. I remember sitting in a meeting with the COO, IT Manager and Senior Underwriter for a small Professional Employer Organization (PEO).
At that time, it took about 3 weeks for the company to bring on a new client. The process involved a number of people, including clients, sales people, the underwriter, and executive management. At each stage in the process, information was passed from one individual to another.
Miscommunication between sales and underwriting caused client files to be passed back and forth delaying a decision. Sometimes a potential client would be denied, sometimes a new client would be undercharged for the amount of risk they carried.
My assignment was to improve and automate the process. Over the next few weeks and months, I would spend time working with the underwriter to understand the process. I also became skilled with the tool the IT Manager expected the solution to be implemented in. It is hard to describe the excitement I felt, when delivering a solution that collapsed the underwriting time from 3 weeks to about 4 hrs!
Technology has drastically evolved since that time and continues to advance at a rapid pace. All over the U.S., small businesses are discovering how to harness these technological advancements to grow their business. They are unlocking untapped business potential and increasing the speed and effectiveness of acquiring new clients and customers. Unlocking that potential for clients is what we at Orbsi Services are so excited about!
Our businesses, just like oil wells have untapped potential that can be converted into productive business growth. One such example took place on the very first day, of my very first job, right out of business school. I remember sitting in a meeting with the COO, IT Manager and Senior Underwriter for a small Professional Employer Organization (PEO).
At that time, it took about 3 weeks for the company to bring on a new client. The process involved a number of people, including clients, sales people, the underwriter, and executive management. At each stage in the process, information was passed from one individual to another.
Miscommunication between sales and underwriting caused client files to be passed back and forth delaying a decision. Sometimes a potential client would be denied, sometimes a new client would be undercharged for the amount of risk they carried.
My assignment was to improve and automate the process. Over the next few weeks and months, I would spend time working with the underwriter to understand the process. I also became skilled with the tool the IT Manager expected the solution to be implemented in. It is hard to describe the excitement I felt, when delivering a solution that collapsed the underwriting time from 3 weeks to about 4 hrs!
Technology has drastically evolved since that time and continues to advance at a rapid pace. All over the U.S., small businesses are discovering how to harness these technological advancements to grow their business. They are unlocking untapped business potential and increasing the speed and effectiveness of acquiring new clients and customers. Unlocking that potential for clients is what we at Orbsi Services are so excited about!
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