You might have just recently heard about Augmented or Assisted Reality (AR) as it relates to entertainment, such as games or amusing software.
However, due to the equipment’s time and money-saving advantages, AR equipment is increasingly being targeted towards professionals in the Industrial Metaverse as new developing technologies grow globally.
As technology advances, it becomes more available and affordable. For example, anyone can now get AR equipment for relatively minimal expenditure, and that investment will quickly “pay for itself” as it eliminates more business travel.
And as the cost of business travel rises, a crucial question is: Could Augmented Reality Be the Solution to Reducing Business Travel Expenses? Let us dig deeper into how is augmented reality saves money.
Imagine every trip your employees make in a year, and then consider how many of those trips could be avoided if you invested in augmented reality (AR) gear to complete the necessary activities remotely.
An exemplar Case Study is Nemco, a Nordic manufacturer of equipment for the food industry, which has installed RealWear-aided reality head-mounted displays so that front-line staff can communicate remotely with the organization’s experts.
Does augmented reality acquire more benefits than just saving money? Let us find out.
Benefits of Employing AR Tech in Your Organization:
In smaller companies, fewer employees are likely to handle the workflow. It means that when one employee is absent from the office, even for only one day, a lot of work may be overlooked, neglected, or postponed. While business travel may ultimately be fundamental for meetings, pitches, and site scouting, it may result in immediate losses due to missed work and the loss of an employee’s time.
When using AR for a meeting, an employee stays in the same facility as their office. Even though they are not physically travelling, they have the impression that they are in the same space as their counterpart, whether they are on the same side of the planet or simply down the street. It is impossible to exaggerate the potential of AR.
It can be a plus for small organizations that can’t afford to lose employees for even a single day, let alone several weeks of business travel. Employees can get right back to work after long-distance meetings when they may do so from the office or the comfort of their homes. Less time spent travelling means reduced lost sales or time with clients. Time is money, as we all know.
Augmented Reality is saving money in multiple ways. When a business must pay the trip expenses, in addition to the lost time, there is also a significant cash loss. “Face-to-face” interactions are seen as the pinnacle of authenticity in an increasingly digital environment. In some ways, we’re even going back to favouring in-person conferences over conference calls.
When it pertains to sales, a lot of big businesses won’t even think about finalising a deal if they haven’t met the sales representative in person. While it’s crucial to leave a favourable impression, it’s not always possible to meet clients all over the country or even the world due to travel, lodging, meals and entertainment costs.
Travel Expenses and Equipment Uptime
The field service business recently evaluated the potential of remote work structure due to the pandemic. Even though AR cannot completely do away with the requirement for service visits, it can make a remote diagnosis and repair possible. It has been demonstrated that eliminating travel time-related delays and giving consumers visual repair instructions can considerably shorten the time of service restoration. Even when they categorize as few-day outages, some are fixable in a matter of minutes. Hence proving that augmented reality saves money as it transforms day-to-day work.
Nemco’s VP of sales stated that due to the wearable technology, Nemco’s workers have been able to receive remote support while working in the field, which has benefited both the company’s and its clients’ bottom lines. Nemco has recognized the advantages of having a fully aligned workforce, laying the foundation for the food industry to adopt a new way of working that maximizes machine uptime and reduces travel costs. Although this new way of working was forced upon us by the travel constraints of the pandemic, it was born out of necessity.
Decrease in Consumer Visits
The cost of business travels to a customer’s site to diagnose and repair equipment is one of the most expensive parts of product support. Travel, fuel, and labour expenditures are all associated with customer visits. The price of purchasing, maintaining, and transporting tools and vehicles is also covered. Businesses frequently swallow a large chunk of their revenues to pay these expenses.
The expenses can be minimized with remote expert AR smart glasses. Thus, proving that while augmented reality saves money, it also drives enterprises to make smart choices. Most of the time, field service professionals conduct their visits while still in the office. They monitor the hardware via a live feed through their chosen software and walk the customer through the procedure in real-time via a wearable device.
Because it is so realistic and seems like an in-person meeting, augmented and assisted reality is a wonderful substitute for in-person meetings, where neither party has to travel anywhere. It makes teamwork incredibly successful.
The delivery of services has been fundamentally altered by the addition of augmented reality to field service activities like travel, allowing businesses to become more productive while spending less money.
Meetings may take place more quickly and easily. Similarly, technicians may complete repair and service activities more quickly and efficiently with the aid of augmented reality-enabled mobile devices and smart eyewear.
Therefore, it can be concluded that it is not just about augmented reality saving money but the plethora of advantages that it offers to industries across the world.