Whether you’re planning a digital transformation or developing connected devices, secure IoT connectivity is vital for the success of your business. It protects the device, the data, and your reputation and ensures that new business models can be implemented securely.
Cybercriminals are constantly re-inventing their attack strategies, so working with an expert who understands how to defend against these threats is essential.
Reduced Downtime
Downtime is a major stumbling block for businesses and can decrease revenue. Fortunately, a secure IoT connectivity solution can help reduce downtime and increase business efficiency.
IoT can transform your manufacturing or supply chain operation by enabling you to improve safety, monitor security and manage devices remotely. IoT solutions can also help you create new value for your business and customers.
IoT can improve machine reliability and reduce downtime costs through data analytics and remote management. Using sensors, the equipment can communicate vital information about health, usage, and performance to floor managers so they can anticipate breakdowns or schedule equipment maintenance to limit downtime.
In addition, IoT sensors can enable manufacturers to track inventory and ensure it is stored correctly. This allows companies to deliver on promises to their customers and ensure stock isn’t damaged.
Using IoT by IoT connectivity providers, a business can increase productivity through enhanced communication between man and machine. This enables a higher output from employees without worrying about downtime and can lead to increased profits.
A solid backup disaster recovery (BCDR) plan is crucial to ensure that downtime does not affect your business. This is especially true for industries that depend on near-24/7 operations like manufacturing and logistics.
Increased Efficiency
IoT connectivity helps businesses enhance efficiency and productivity by enabling several streamlined processes. These include intelligent inventory management that allows companies to track demand patterns and adjust production in real-time, resulting in higher profit margins. Likewise, automation of managerial tasks helps SMBs cut down on downtime and costs associated with maintenance.
Another way IoT devices can increase efficiency is by reducing the number of manual steps in the production process. This is important because it can lead to less labor cost, allowing for greater output per hour of work.
A third way that IoT can increase efficiency is by improving energy usage and efficiency. With smart thermostats and lighting that turn on and off based on the time people are in the space, companies can reduce their energy consumption.
In addition, IoT sensors can help businesses save money by preventing unnecessary power losses. For example, motion detectors that sense people moving through the room can be linked to intelligent LED lights that switch on only when people move.
Similarly, IoT applications can increase efficiency by delivering real-time insights into operational performance and equipment maintenance. This provides a 10-12% performance boost that reduces downtime and equipment failures, increasing efficiency and profitability.
Secure IoT connectivity is vital for any business that uses connected devices. Without this security, hackers can target your company’s network and steal sensitive information. To ensure the integrity and security of your business’s data, you must implement a robust IoT security plan.
Increased Productivity
Productivity is a critical factor in business growth. It can drive higher wages, increase access to capital, and improve profitability. In addition, productivity increases help the economy grow and provide a more excellent standard of living for all sections of society.
When companies achieve maximum productivity, they can produce more goods and services with less time and resources. They can also increase their profits, making obtaining funding from banks or other sources easier.
A company’s level of productivity determines its competitiveness and long-term survival. A firm must measure its current productivity levels and make continuous improvements that maximize productivity and efficiency.
In the example of a toy factory, productivity would be measured by how many toys can be produced in a given period. A factory that employs ten workers and produces 120 toys daily might have an average productivity of 3 toy cars per worker.
However, a company that employs fewer workers and produces 150 toys daily might have an average productivity of 10 toy cars per worker.
While the benefits of increased productivity are apparent to everyone, achieving this goal for every business can be difficult. Many factors can impact productivity, including external conditions and internal management decisions. Monitoring productivity regularly and addressing any issues as soon as they arise is essential.
Increased Revenue
One of the key business goals for any service-based company is to increase revenue. Whether through new product or service introductions, price increases, or other methods, increased revenue can increase profits.
While increasing revenue can be good, it can also mean increased costs and decreased profit margins over time. This can make determining which strategy is best for your company challenging.
To increase revenue, consider focusing on the quality of your products and services instead of lowering prices. This may help you to sustain higher prices and maintain your premium market status in the face of economic downturns.
Another way to boost your business’s revenues is by using an all-in-one system to manage your processes, automate communication and manage customer relationships. These systems are often expensive at first glance, but they can save your business time and money in the long run.
Security is a crucial part of IoT connectivity and needs to be a priority throughout the lifecycle of your devices. It’s essential to hire/source experts who understand how to protect your business from sustained attacks and who can work with you continuously to secure your connected products. This includes implementing FOTA (Firmware Over The Air) updates, countermeasures, security telemetry from your devices, and managed security services.
