Capitalize On IoT’s Measurable Results

According to Vodafone, adopters measure, on average, a 20-percent improvement in key business indicators. Partners need to pinpoint what these measureable indicators are – whether it’s revenue, system uptime, cost or asset utilization as a result of using the Internet of Things - so that customers can track improvements in their systems.

Mike Beamer, president of goTransverse, an Austin, Texas-based solution provider that uses IoT solutions to improve subscription billing, said that tracking how IoT has brought in money for his clients is an important measure for his business.

“When you are planning your IoT initiatives, remember to think creatively and include monetization in your roadmap,” he said. “Solution providers should recognize that even hardware-driven vendors should have some form of long-tail revenue stream to account for upgrades and support.”