By Nicholas Svensson, CEO, SMART Technologies
Building long-lasting tech is something that some manufacturers have lost sight of over the years. What is long lasting? We’ve likely all said or heard the idea that ‘they just don’t make ‘em like they used to’, and that can ring true everywhere from consumer electronics to specialized technology products. What does a commitment to designing, engineering, and building products that are created to last really look like? Let’s explore that in a bit more depth, and what it means to ‘walk the talk’ on ensuring customers’ – and thereby investors’ – dollars are safe in tech.
Corporate Commitment to Sustainability & Longevity
What does it mean for a company to be truly committed to the longevity of its technology? It starts from the very beginning of designing and engineering products and continues through a reliable, ethical supply chain and even into how products are shipped to customers. It’s important to ask the right questions at every stage of the product development journey to ensure that customers and investors are getting what’s promised and that that product will be fit for purpose for years to come.
Designing hardware products in-house means that a company has oversight to every single component that makes up a product and can make the very best choices about quality, reliability, and sustainability. When this type of thought and intention is put into a product from the start, it means that the quality that ultimately meets the customers' expectations with respect to function, reliability, upgradeability and end of life sustainability are baked in. Parts and the product as a whole fail less, require less maintenance, can be upgraded/repaired and recycled - ultimately costing less in the long run.
When products are designed to last longer, they also need to be designed to be upgradeable and repairable. This helps avoid the wholesale expense of constantly replacing outdated technology. This not only benefits individual users, but also entire organizations that rely on technology to operate efficiently – including those in the businesses, facilities, schools, and educational organizations that a company partners with. An example of this ‘future proofing’ is over-the-air updates – meaning that displays and devices receive automatic upgrades to support new features and functionality on a regular basis. This means that the technology can stay in the classroom, boardroom or in consumers’ hands longer. By reducing the need for frequent upgrades, money can be saved and allocated more effectively. It also means less tech ends up in the landfill.
Finally, to ensure top-quality investments, products should undergo rigorous Accelerated Life Testing for extreme temperature, humidity, voltage testing and more. Without all the bases covered, what might have looked like an inexpensive solution initially can end up costing users more, ultimately devaluing a company’s products and brand.
Ethical Production for Product Excellence
Ethical production doesn't necessarily guarantee a sound investment in technology, but it is increasingly important to buyers, should be a high priority for investors, and just makes good sense. A manufacturer should be committed to sourcing components and materials from companies that share similar values on human rights, ethics, and environmental responsibility. A company should be diligent about working with suppliers that source conflict-free minerals. It should ask all of its suppliers and sub-suppliers to sign a Supplier Code of Conduct, which requires adherence to acceptable working conditions, human rights, health and safety, and environmental and ethical standards.
Other considerations that investors and buyers should be asking about include energy savings of technology, the recyclability and overall footprint of packaging and shipping, and product and manufacturing certifications. These are foundational considerations that are not easy to manage. It's crucial to have people or teams who wake up every day thinking about these things and how they can be managed and improved.
There is also a need for cross-functional co-operation between functions when developing a new product. Everything in the end becomes a tradeoff; to optimize complex subjects like longevity you need to balance quality, sustainability, reliability, repairability, upgradeability. If only one group or function is involved, there is a risk of missing details or elements that are of high importance to buyers. Leaders and investors must closely examine who is around the table for these discussions and decisions.
Longevity Drives Innovation
Technology longevity is essential for innovation. For example, consider a firm that invests in new software that they believe will help streamline their product development timelines. If the software is designed with longevity in mind, the firm can be confident that they will be able to use it, build on its foundation for many years to come, and will confidently give the time and resources they need to fully explore capabilities and experiment with different ways of using it.
End users who feel confident in the tech being around for a long time will be more willing to adopt the technology into their daily workflows, and share knowledge with others, ultimately driving better utilization of the technology and getting the most from investments.
It is essential that all creators of technology are transparent with buyers and help to simplify the buying process. This means being upfront about product features, limitations, and potential risks. When users know exactly what they are getting and what to expect from their technology purchase, they are more likely to feel confident in their decision, to use the technology, and to develop loyalty to a brand.
These are all critical components for buyers and investors to consider when looking at veteran and emerging technologies. Choose creators of technology that make a focused practice of listening to buyers and users, and taking their values and feedback into account when they design, build, and market their products. Companies must ‘walk the talk’ with transparency when it comes to sustainability and longevity in tech – shallow promises and unproved claims when it comes to the environmental impact of your products won’t get anyone anywhere. As leaders in tech spaces, we owe it to buyers, consumers, and investors to spend our time investing in creating ethical, sustainable products that will be serving users for years to come.
About Nicholas Svensson
As CEO of SMART Technologies, Nicholas’ vision has been indispensable in SMART’s growth and innovation as a brand. He deftly navigated the COVID-19 pandemic and the supply chain crisis that resulted, positioning SMART Technologies as a much-needed solution for educators and businesses everywhere.
He has overseen SMART’s re-entry into the business sector with cutting-edge collaborative technology, all while maintaining an unwavering commitment to SMART’s priorities in the world of education.
Nicholas keeps the SMART brand focused on the things that really matter, like prioritizing student wellness, remaining indispensable and easy to use for teachers, and best-in-class privacy and security for all customers. As a workplace leader, Nicholas places a high emphasis on authenticity and removing barriers for all his workplace employees across the globe.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.