Internet of Things (IoT) is a new industry buzzword that refers to the addition of internet communication capability to common devices found in homes, offices, industrial settings and more. By securely connecting a company’s “smart” assets to a digital infrastructure, businesses procure new ways of increasing revenue and meeting customer needs.
The Venform IoT strategy consulting team works with customers to define what constitutes success for them and, if it is directly able to be influenced by technology, match that business goal to a cloud-based solution. For instance, a customer may state their goal as “improve asset utilization by 20 percent in the next fiscal year to reduce new capital allocation by 10 percent.”
We are able to translate customers’ business goals into an IoT/cloud application project by not only defining their strategy but also fulling investing in their success by directly signing up for incentives we receive only if they achieve success. If we weren’t completely competent in our ability to help our customers meet their business goals, we wouldn’t take this risk.