The Internet of Things makes possible new business models that were difficult to imagine and technically impossible to implement even at the beginning of this century. Such IoT-based business models include pay-per-usage, subscription, and outcome-based models.
Personalization and context-based business possibilities have expanded enormously thanks to the IoT, and the circular business model has become perfect.
The features the IoT device management platform brings you are critical to successfully realizing new business benefits. Take the 2Smart Cloud platform as an example and highlight five mandatory features necessary for device production & service businesses.
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What type of businesses need advanced IoT capabilities
The Internet of Things provides excellent opportunities for choosing a business model. Your company may be manufacturing and selling simple consumer IoT devices, so you only need to maintain the infrastructure to keep them running.
You will probably occasionally release firmware updates or slightly modify the interface of the mobile application for remote control, but nothing more. When choosing such a business model, you only need to select a platform with a standard set of features of IoT software and optimal pricing.
Another option is a business that involves selling not devices but services. Thanks to the IoT, the variety of such services is practically unlimited. Examples are numerous. This is integrating cloud solutions into equipment at gas stations so that their customers can pay for fuel using a smartphone.
These are sharing services for electric scooters, cars, and other vehicles. These are networks of charging stations for electric vehicles, etc. In all these cases, the Internet of Things is a technology that allows end users to receive the service they need conveniently.
For businesses that don’t sell devices as much as services, critical additional IoT software platform features don’t matter to those who only sell intelligent devices.
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5 Necessary Features of IoT Software for Device Production & Service Businesses
If you are planning to use IoT benefits for business and launch a service based on the use of IoT devices, you need a platform that has the following features of IoT software:
- advanced device management,
- companies management,
- management of users and their roles in the system,
- mobile application for users.
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If your business is about delivering services using connected devices, provisioning is essential. This term describes preparing the IoT device for deployment by assigning a unique identifier, such as a serial number, to the device. Also, provisioning includes providing a set of initial settings, such as default usernames and passwords.
Provisioning is the first thing you need to implement the above business model. In practice, its implementation is associated with such IoT platform features as the ability to generate the required number of identifiers and conveniently assign them to specific devices.
The platform should also have the functionality of assembling unique instances of the device’s firmware with an ID in its code and the ability to export the firmware and other accompanying files for sending to production.
It is also desirable that the system administrator be able to manually install the firmware on each device if company policy does not allow the firmware to be transferred to the manufacturer.
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2. Advanced device management
Advanced device management means features not used for intelligent consumer devices. If you provide services using IoT devices, it is essential for you that your system administrators have access to the following functionality:
- remote device control,
- device diagnostics,
- remote maintenance and software updates.
3. Companies management
Your company probably won’t be the only one that needs to be eligible for advanced device management. Suppose you plan to scale your business through a franchise model or in other ways that involve partnerships with other companies. In that case, providing separate access to the admin panel is essential.
When creating a custom solution for your business or looking for a ready-made white-label one, ensure that convenient company management is included among the IoT software platform features.
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4. Management of users and their roles in the system
Imagine who will be the people who will gain access to the system and connected devices: an administrator, end users, technicians to support devices and the entire system, etc.
For the security and privacy of your business, you need advanced user and role management. It is enough for the end user to access the main features. A technician must access all sensor data on a device to properly diagnose and fix problems. Partner company administrators should not be able to manage other companies.
The more flexibility in setting permissions for users with different roles the platform gives you, the less your risks.
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5. Mobile application for users
Your end users will likely interact with connected devices via a mobile app. There is no need to explain that this is a must-have feature, without which the implementation of IoT capabilities cannot be imagined today. The more convenient and better your mobile application is, the more satisfied end users will be with buying your service.
However, the mobile application may have some unexpected features. For example, if an IoT platform allows you to customize unique application layouts for users with different roles in the system, you can find several use cases for this.
Provide end users with the bare minimum functionality and give technicians complete access to device telemetry and management. Give your users minimal features and offer them extra for a fee. You can come up with different options for how to use this opportunity!
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Briefly about other IoT software platform features
The above is just about five features that allow you to use IoT benefits for business. When choosing an IoT platform, also pay attention to features such as how identification authentication and configuration are implemented, the presence of an IoT monitoring system, etc.
Choosing the right IoT solution at the start will save your resources and help you quickly enter the market and successfully implement and scale your business idea!
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In the world of tech since 2015. I started writing about it in 2019. I have also expertise in food reviews, photography and travel blogs.