By: Jennifer Devitt on April 12th, 2015
How a bank, pizza chain and eyewear manufacturer are all considered tech companies.
In 2015, what do an investment bank, a pizza chain and a fashion eyewear company have in common? The answer is simple. Technology. Goldman Sachs, Domino's and Warby Parker have all recently been dubbed "technology companies". And yet, not one of them sells a piece of hardware, software or a specific technology service. So, what gives?
All three of the above-mentioned firms use technology in one area or another to boost their business. These companies are using innovation and technology to grow their brand. That a bank, pizza chain and eyewear company are finding success through technology should come as no surprise. Technology is at the fingertips of every industry. If companies learn to embrace technology and look outside the box, growth is ready and waiting. Let's take a look at how these firms found themselves tagged as technology firms, shall we?
1. Goldman Sachs. Did you know that Goldman Sachs employees more developers than Facebook, Linkedin, and Twitter? According to Business Insider, the investment bank employees 9,000 programmers and engineers! In the financial sector, technology growth is huge. With the rise of on-line banking, security, compliance and more. Goldman Sachs says " Our engineers build and deploy the innovations that drive our business and financial markets worldwide."
2. Domino's. Domino's which is no longer "Domino's Pizza" has grown from your speedy local pizza delivery service. Not only have the expanded their menu enough to rebrand to "Domino's", in 2014 they were being dubbed a "technology company". In 2014, Domino's Chief Marketing Officer was quoted as saying "We saw then and and continue to see now, is that customers prefer digital ordering over any other type " Domino's has an app available in the App Store, on Google Play and Window's Store. Today, tech news outlets are saying Domino's is an "e-commerce company that sells pizza". Domino's offers multiple ways to order, via Dom, for voice ordering (think Apple Siri) or order via your smartwatch or even in your Ford? Domino's headquarters now has more than a third of its total employees dedicated to technology!
3. Warby Parker. Back in 2013, Warby Parker was called "The tech startup that isn't a tech company at all". Warby Parker started out as an online, e-commerce store selling high fashion eyewear. Today they also have brick and mortar stores. Warby Parker believes that "Technology is the backbone behind everything we do as a company", according to Warby Parker Co-Founder and Co-CEO Dave Gilboa. Warby Parker does not sell software, but they build applications, systems, platforms and databases to enable the company to be more adaptive to customers. Warby Parker does believe in sharing the software they develop by way of an open source program. In 2015, Warby Parker found itself on the Fast Company "Most Innovative Companies of 2015" list - ahead of Apple!
What companies in any industry can learn from these firms is that by grabbing technology by the horns you can grow any business by utilizing the many options available via technology. Programmers and engineers today use innovation to take any industry to new heights. If you find a good programmer or engineer they can assist you in bringing your idea to life. Take a moment though to learn a lesson from Warby Parker, who as a start-up only interviewed a handful of developers, hired the cheapest one and regretted it a short six months later. When it comes to technology, the old saying "you get what you pay for" tends to hold true. It is best to sit down as a company, discuss your needs and goals, then interview several firms and don't just make your decision based on price. In 2015, the companies that are succeeding are investing in technology. And, they are investing beyond just a website or mobile site. They are building complex systems, web applications, and databases that communicate with each other to streamline business and offer more to its clients. It is companies like Goldman Sachs, Domino's and Warby Parker that solidify the importance of education in technology far beyond just being a programmer.