LEO. Just what was it exactly, and why did it fundamentally change the business of business forever?
J. Lyons and Co. started out as a caterer to the 1887 English Newcastle Exhibition and grew to be the largest catering and food manufacturing business in Europe during the first half of the 20th century. The first Lyons’ tea shop opened its doors to the public in 1894. With their notable interior designs and delectable teas and foods, the chain eventually grew to more than 250 locations in its heyday, with many of its locations featured on several of London’s upscale high streets.
As with many business ventures past and present, inventory management was key to the ongoing success of the tea shops. As early as the 1930s, the company’s Controller, John Simmons, had wondered about automating many of the backroom manual tasks involved in managing the sprawling network of Lyons’ tea shop locations. Tracking ingredients used in the café breads, cakes, and assorted menu items was critical to ensure that each tea shop exceeded customer expectations.
Enter the Lyons Electronic Office, better known as LEO. In 1951, fulfilling John’s vision, and taking up 2,500 square feet of floor space, LEO was the very first computer used to successfully manage business activities. Initially hosting the “Bakery Valuations” application, the program calculated the various costs associated with all of the ingredients used in the production of the tea shop breads, cakes, and other food offerings. Eventually LEO’s application programs expanded to include payroll processing, invoicing, and delivery-schedule management, making it the first recorded instance of an integrated computer-based information-management system.
Over 70 years later, we have made astounding leaps in all phases of business applications and computing technologies. Alongside traditional mainframe-based applications like the ‘Bakery Valuations’ all those years ago, cloud computing now delivers a revolutionary set of internet-based applications that take full advantage of agile computing-power allocations, scalable-storage memory banks, and intuitive Graphical User Interfaces (GUIs).
With round-the-clock data flows and heterogeneous information sources, how do you pull all of your risk data together? Do you have the right tools for the job? And importantly, with all of the advances in computing technology that pervade our enterprise environments, has your organization outlined a successful migration path from traditional risk data processing to Total Cost of Risk (TCOR) information management?
We have. Prevailing risk-program requirements demand analytics-based computing technologies that include traditional core RMIS data sets as well as additional tools that support a wide array of information-management requirements. Successful modern-day risk- and claims-management programs need timely views of ALL applicable program factors impacting your TCOR. Our goal at Gallagher Bassett is to continually evaluate client, carrier, and broker risk information-management requirements to ensure that we successfully deliver the most robust RMIS tools available in the bundled TPA marketplace.
There is certainly no shortage of disparate TCOR data sets currently stored in our mainframe computers, desktop spreadsheets, and cloud environments across the globe. While many organizations excel at stockpiling transactional data in massive data warehouses, those that break out and lead their sectors have successfully tapped into the actual context and meaning of their risk-management information, driving deliberate decisions and actions that lower their TCOR.
Our strategic partnership with Origami Risk has allowed us to implement a truly unique RMIS solution. Alongside core RMIS data-transaction details, we have integrated our own proprietary computing tools to extend our RMIS product-offering functionalities and decision-support capabilities. Drawing from our repository of claims-management intellectual capital, we provide our own add-on suite of data benchmarks, scorecards, and AI-driven predictive analytics to deliver the actionable information required to drive superior claims outcomes.
Our best-of-both-worlds solution has revolutionized the TPA industry and taken risk-management decision support to The NEXT Level. Use our LUMINOS RMIS tools to really understand your litigation-management program and legal firm performance details and decide to work only with the best firms. Thoroughly understand your managed-care program performance with our Interactive Dashboard tools. Compare medical-treatment qualities to foster exceptional employee healing and drive in-network provider utilization recommendations. And, review all relevant program Key Performance Indicators (KPIs) to outline action enhancements, communicate effectively, and monitor action plan results.
So go ahead. Think about LEO. The Lyons’ tea shops were the best of the best in their day, with LEO successfully managing their relevant data and information-management activities. Is your organization a leader in its space? If not, does it want to be? Utilize our RMIS tools to support all of your risk-management program decisions, deliberations, and action plans. Start or continue the conversation. Align all of your risk-management program efforts around a consolidated set of pertinent data facts. Then definitively move your program forward. Take YOUR program to The NEXT Level.
Interested in learning more about our LUMINOS RMIS product suite? Or any of our Expanded Service offerings available to Gallagher Bassett clients? We’d be delighted to talk with you. Stop by and visit us at the upcoming RMIS conference in San Francisco. Engage a member of our Sales or Client Service teams, or contact Jennifer Turner, SVP RMIS Solutions, at firstname.lastname@example.org.