6 minute read
SUSTAINABILITY & BUSINESS GROWTH in іGaming Tech Supply Chain
The pursuit of sustainability has become a trend in the iGaming industry. Through sustainable development approaches, the industry is evolving with a focus on social responsibility, environmental protection, and conscious governance. These trends have affected all types of companies in the market, but are especially relevant for tech suppliers.
Anna Dobrovolska, driver of GreenIT projects at Internet Vikings and active participant of sustainability initiatives in the iGaming industry, explains how sustainable trends implemented into a company's business model not only impact the world, people, and systems around you, but can secure your business longevity.
A company's journey to sustainability cannot only be for internal gain. Sustainability choices need to be personal to the company, and leaders need to invest sincerely in our planet's wellness to make a difference.
Having sustainability credentials can help a company attract its partners and clients, investors, and employees. Additionally, it can strengthen ties with all parties along a company's value chain, particularly with regulators. An improved variety of sustainable measures can result in greater innovation, producing long-term growth. Businesses that set the bar high for ESG may gain from easier access to funding and lower capital costs.
The following could be the basis of iGaming tech suppliers' sustainability measures.
Customers and Partners
iGaming and sports betting providers, operators and industry players are continuing to show signs of purchasing services from tech solutions companies with set values, including environmentally responsible and moral practices. iGaming tech suppliers that take responsibility and initiative into their own hands making a positive impact are favored above those who aren’t.
For example, we cannot forget the weight that sports team sponsorships have within a company's marketing strategy and overall exposure. Media sponsors, sports partnerships, and other strategic partners will want to partner with tech suppliers that are ESG drivers and align with their own sustainability goals. This links back to my point about being diverse in your journey to sustainability, covering all ESGs equally, and powerfully offering more value to your company.
Employees
As an iGaming supplier it’s crucial to represent your organization as a leader in sustainability and supporter of community wellbeing. To have the most skilled workforce, you need to attract and retain them with a strong company ethos, making your employees proud to be a part of the positive changes you are making to the environment and community.
Global Influence
For a technical contractor that operates globally, it is a top priority to implement sustainable approaches wherever they operate. In this way, the hosting supplier or any other tech supplier to the online gaming industry makes a positive contribution all over the world.
Sustainability Measures
One of my favorite quotes comes from Bill Gates' book "How to Avoid a Climate Disaster," where he emphasizes the importance of reaching zero emissions. It resonates strongly, particularly as larger businesses must take even more proactive roles in this endeavor.
The challenges faced in implementing sustainable business practices can seem too big to be realistic to achieve. Everything starts from strategy; think bigger and be ready to make confident moves in major fundamental changes.
Drawing upon my background and the hands-on experience of our team in successfully integrating sustainable solutions, I've crafted a guide, and I'm delighted to share out insights with you.
Your Sustainability Guide
Step 1. Audit. As detailed as possible. Review your suppliers, operations, source of energy, markets of operations and identify challenges by each area.
Step 2. Goals. Short- and long-term. Discuss with your company how you wish to make a positive impact on the world within our industry and identify the SDGs (Sustainable Development Goals).
Step 3. Analysis. Identify weaknesses to recognize how your current business practices negatively affect your SDG goals.
Step 4. Research. Discover innovations. Do market research and see what the options are in each market that can offer your business smart eco-solutions. From data centers where your servers are to where your apps and tools are stored. From the social impact your company has to the innovations development your company can initiate.
Step 5. Planning. Divide the steps from the bigger scale as annual to monthly achievements.
Step 6. Execution. Implement actions to achieve SDGs. Update internal policies, attend master classes on sustainability with management and the team, collaborate with industry partners that share similar sustainability goals, participate in environmental initiatives worldwide, and actively reduce CO2 emissions within the office environment and data centers. Always aim for Zero.
Step 7. Influence and Inspire. Report the results of sustainability initiatives. Your audience as well as your partners will always appreciate your transparency in all aspects. To say you are sustainable is one thing, but to show your efforts and results is another. Documenting your sustainability changes can impact your fundamental ERG which is the governance, inspiration, and overall ethos within your organization.
Step 8. Reevaluation. Reevaluate the development of new actions / initiatives and how they will lead to better results in the sustainable journey.
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As a tech supplier, you cannot grow without any clients. Your clients cannot grow without their customers. And the customers cannot live in an unsustainable environment.
Over the past few years, our world as we know it has rapidly changed, and the topic of sustainability has become more popular than ever. Companies that choose to run sustainably will stand the test of time, and grow, develop, and become resilient to the inevitable changes we will need to make for future generations.
For a tech supplier in iGaming, sustainability will become synonymous with success. To remain relevant and needed in the market, sustainable solutions will be the most popular option, as iGaming operators will need to consider the long-term effects of partnerships. Ignite a journey to sustainability by starting Step1 today and secure your place for the future in the iGaming supplier market.
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internetvikings.com
Internet Vikings is a leading provider of first-to-market licensed in-state hosting for the sports betting and iGaming sector in the U.S., serving solutions in 23 states. The company, founded in 2008, offers dedicated servers, co-location, and cloud hosting with a premium status proven by its ISO 27001 certification and intensive DDoS protection.
