COVID-19 and your business
The challenging time of Covid lockdown has impacted on people in many ways, some withdrawing into hermit like isolation, some going a bit crazy to entertain themselves, and some have used the opportunity to hit the ‘pause button’ on their task oriented working life, to reflect and take stock on some strategic issues that we often do not have the time to contemplate.
Certainly, at LossLess Group we fall into the latter category. As a relatively young business we have been flat out doing today’s important things and not always allowing our strategy and purpose to catch up. The Covid ‘pause’ has allowed us to reflect on what we are trying to achieve, and how we are going about it.
We have also been able to document in detail, and after careful consideration, our strategy and business plan. This has led to our development of a new website, social media presence and a clear sense where we a travelling.
Perhaps the toughest challenge has been to define what we actually do. In the past, businesses have had a simple definition, as retail, manufacturing or banking etc. However, today businesses have far more complex definitions, as generally their definition would encompass some element of service, technology, marketing or innovation.
At LossLess Group we provide many activities that combine to make our business unique and compelling. We use highly complex technical RFID equipment to produce data. We have patented algorithms that create valuable information for our customers.
We use the Internet of Things to provide new processes to transform our client’s businesses. We provide a hands-on service to help our clients change the shape of their own operations. We provide leasing solutions to make the transformation cash efficient.
This all makes the challenge of describing our business within conventional terminology as quite mind boggling. Undoubtedly, we provide an asset tracking technology service, using RFID and the Internet of Things to allow businesses to maximize the availability of their key assets. Perhaps we are a ‘transformation enabler’?
Applied to the Hospitality sector, the technology converts commoditized rented hotel linen to valuable tangible assets that can be tracked through their lifecycle journey from room to laundry and back again.
The data generated allows hotels and laundries to reduce the amount of linen in circulation, improving reliability and reducing costs. As an asset, the linen can be financed by leasing it through LossLess Group, resulting in improved cash utilization and increased EBITDA performance.
It all makes perfect sense to us, but if you need more of an explanation about how we transform our client’s businesses, why not get in touch.
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