What happens when technology moves faster than a company can keep up with it?
That was the question facing Casnet’s management team five years ago. The then-microfilming services company suddenly found itself in a declining industry, and its leaders had to take quick action to stay afloat.
Customers trusted Casnet, but their needs were changing due to technological innovations. President and CEO Brad Bowers and his team knew Casnet’s future was in the electronic document management industry.
At the time, Casnet’s operations — facilities, equipment and staffing skills — were set up to handle large-volume microfilming. Changing operations to include electronic document management meant making major investments in new equipment and expanding production facilities.
It also involved retraining workers and changing hiring criteria because employees had to be more computer-literate and possess expanded skill sets. The sales process and sales cycles became much different, and the company had to find new product suppliers and adopt expanded product lines.
Casnet now offers solutions for customers that enable them to be more efficient and effective in their businesses. Offering a broader range of electronic solutions allows the company to expand to new markets, such as education and health care, which, in turn, has led to increased revenue. It has also taken loyal customers by the hand and led them into the electronic age by providing them with a convenient migration path from older technologies to new ones, painlessly and efficiently.
Saving the company from possible extinction taught the Casnet management team to grow with customers and change with technology. Adapting the services provided by the company seemed a daunting task but the company learned that creating broader horizons brings more potential revenue.
Its decision-makers also learned to keep key managers by their side, helping to lead the company’s transition rather than lagging behind.
Today, Casnet is a more sophisticated and complex firm, earning 90 percent of its revenue from newer technology solutions and just 10 percent from microfilming. Revenue from electronic solutions has grown 573 percent over the past five years.
HOW TO REACH: Casnet, (330) 848-8800 or www.gotocasnet.com
