Intertwining Future Technology With Social Mission to Solve Real Problems
And the Role of the B Corp Community in Making It Happen
When you purchase medicine, you probably trust that what’s on the label is what you’re getting. But what if this weren’t the case? Traceability of resources, parts, product inventory, you name it — primarily for pharmaceuticals and medical equipment — is what inspired Louis Roy to found OPTEL Group in Quebec nearly 30 years ago. Now the global leader in track-and-trace technology for pharma, OPTEL, has expanded its mission. The company, a Certified B Corp, is now focused on solving social problems by building transparent, traceable supply chains, relying on what is often still seen as future technology: AI, blockchain, and the Internet of Things.
“OPTEL is applying its technologies to various other sectors by harnessing the power of end-to-end traceability, a process which helps reduce waste and optimize processes throughout the product lifecycle ─ from the cradle to the grave,” OPTEL President Louis Roy says. “OPTEL is now focusing on the deployment of traceability solutions to enable intelligent supply chains that will generate substantial efficiency gains, and this is the key to sustainable development.”
This technology is especially powerful given OPTEL’s understanding of the future of work — one that puts social mission and higher purpose at the root of the company’s raison d’etre and simultaneously has given it a competitive advantage over other similar companies in the field. “[Our] business initiative is perfectly aligned with our social mission, as it combines both profitability and sustainability. OPTEL firmly believes that these two concepts are not mutually exclusive and that companies can be profitable while having a positive impact on the planet,” Roy says.
As more consumers demand transparency in global supply chains — asking where their goods and services are coming from — the work of OPTEL becomes more and more valuable to companies around the globe. And working with OPTEL, with its stated mission and B Corp certification, meets the highest standard of transparent business relationships.
The value of building a business community based on values is alive and well in Canada, home of OPTEL’s main headquarters. “In Québec City, we are the only certified company, so we are working with the BDC [Business Development Bank of Canada] to extend the B Corp movement. OPTEL wants to demonstrate that it is possible to be profitable and have a positive impact,” Roy says. “The company is in fact a tool or a means to help create a better world. All profits are reinvested in the company to develop new solutions and create quality jobs. The more OPTEL grows, the more we’ll be able to influence other companies and inspire them to become responsible for future generations.”
The role of growing the movement of businesses that exist to create a better world is one, as Roy says, that BDC is heavily involved in as a bank dedicated to entrepreneurs. In addition to helping these entrepreneurs meet their banking needs, BDC is investing in partnerships, public events and entrepreneurs’ workshops to help grow the B Corp movement across Canada.
And BDC plans to continue to step up because it believes in the future of social entrepreneurs. In the words of Craig Ryan, director of social entrepreneurship at BDC, “Our strong hunch is that for every public-minded entrepreneur who’s achieved B Corp certification, there are several more who haven’t but whose companies would be prime candidates. … We are focusing on supporting people defined by their belief in the purpose of a company, rather than on promoting the generic business case for sustainability.”
This article was originally published by B the Change. OPTEL Group is part of the community of Certified B Corporations. Read more stories of people using business as a force for good in B the Change, or sign up to receive the B the Change Weekly newsletter for more stories like the one above, delivered straight to your inbox.
