When you think about IoT, what’s the first thing that comes to mind? Business Value or Complexity?
IoT or “Internet of Things” has the power to transform businesses, but most of us start looking at technology first, instead of identifying the business value it brings to the table. Whether it be improving customer loyalty, improving product design, optimizing production, improving service or reducing costs by managing warranty and recalls more effectively, IoT has a significant role to play in digital business transformation.
The term IoT is outside of most of our technical comfort zones – the different devices, protocols, technology, and security threats alone can seem daunting. Not to mention the sheer volume of data emanating from products, posing the challenge of filtering out the important information from the noise. So how do you drown out the noise and tap into the potential of IoT?
Transformational value of IoT happens when secure information is shared through trusted interactions between entities (People, Systems and Things).
What if you could?
- Verify People are who they claim to be, and Things are what they claim they are, do what they are supposed to do.
- Provide product owners and process operators a way to manage access and grant or revoke rights.
- Ensure rights and permissions granted are exercised accurately, and protect the resources adequately.
- Broker secure and seamless data exchange across organizations and screens.
- Control environment variables and states, including offline and disconnected modes. sync data across networks & cloud.
- Manage the entire lifecycle of complex ecosystems.
You’re probably rolling your eyes thinking, “Oh sure, Covisint, piece of cake”, but hear us out – we’ve been doing all of this for 15 years. Established in 2000, Covisint started as the first industry-wide business-to-business information exchange system (we even patented this groundbreaking technology). Flash forward to present day – enterprises continue to de-construct and re-aggregate to accommodate the explosion of data between people, devices, machines and things. Covisint sits squarely in the middle of this new highly connected world.
The solution to managing a complex and dynamic ecosystem is this backplane which enables trusted interactions and security and privacy with one purpose-built platform-as-a-service, the Covisint IoT Platform.
With IoT, the concept of connected economy and “servitization” has become real. The products that are being produced have, on average, a higher service component than ever before. IoT can be your competitive differentiation in the market, so It’s not when or if you can implement these solutions and see tangible benefits but how fast can you launch at a global scale in a secure and compliant manner.
Think about IoT as a transformational technology. Start with engaging your customers across the channels, devices and formats. Think about IoT initiatives as opportunities and not risk. But…have a strategy to mitigate and manage risk. Finally, engage a trusted and experienced partner to build out your vision.
Want to learn more?
Check out our webinar which highlights the tangible benefits of digital business transformation initiatives driven by IoT!