Transportation technology company, Hyperloop One, recently completed the second phase testing of its ultra-high-speed transportation system, successfully hurtling a prototype vehicle faster and further than it has ever gone before. The Hyperloop, as it is known, is comprised of a series of interconnected, low-pressure tubes in which pods (that eventually will be filled with passengers and cargo) can travel near frictionlessly at incredible speeds. The innovative system is on track to completely disrupt the transportation industry.
Each phase of the current Hyperloop builds on the successes of prior accomplishments. The Hyperloop concept itself was first introduced via a crowdsourcing idea from Tesla CEO, Elon Musk, back in 2012. Given his high-profile reputation as a business visionary, he was able to overcome the resistance of skeptics who doubted the viability of the Hyperloop concept. From his initial push, the idea and the technology gained a momentum of its own, and eventually a distinct company, Hyperloop One, developed the first working prototype of the Hyperloop in May, 2017.
Phase 1 of the Hyperloop proved that the basic technology was sound and that it actually worked in the real world. Phase 2 exponentially improved the speed and the distance that the Hyperloop vehicle was able to travel. Engineers, investors, and end users are now one step closer to realising the dream of a better transportation system throughout the world, thanks to innovative thinking and investments in technology to solve complex problems.
Given the pace of technological advancement in today’s world, it sometimes seems as if almost there’s no limit to the removal of friction. Embracing the digitisation of your data is a small yet achievable step that can uncover business insights that were once hidden. Transforming your paper-based invoicing system to an e-invoicing platform can unlock your supply-chain data— enabling shipments and payments to flow (like the Hyperloop) frictionlessly from point-to-point.
What areas of friction in your organisation can you eliminate that will lead to great leaps forward? To get started, view the results of our Friction Index 2017 at www.tungsten-network.com/procure-to-pay-friction/