IoT Reduces Cost and Gain Competitive Edge

By Jyoti Nigania |Email | May 17, 2018 | 8025 Views

The Internet of Things delivers real-value to the business and the term Internet of Things commonly referred to as IoT has increased popularity over the past few years. For small to medium-size businesses, IoT devices have the potential to optimize resources, streamline processes and in the end, result in significant overall savings but in order to achieve these benefits.

Technically, the Internet of Things is set to become the next big thing. IoT has already spread to office buildings all over the world, and some companies are already enjoying the benefits of this technology. One of the leading reasons why cost-saving IoT is being developed is to optimize business operations through preventative maintenance.

IoT plays a vital role in retail, energy management, smart homes and buildings and Transportation. Lots of effort is directed towards saving energy. Companies have implemented various strategies such as limited use of air conditioners, cutting the number of shifts, and use of the more efficient motion-sensitive bulbs. However, these measures tend to affect productivity in one way or the other. Scrutiny reveals that energy conservation occurs at the expense of productivity.
Instead, incorporating cost-saving IoT into your energy savings plan will help you to monitor various systems in real time which result in optimum energy use. 

However, there is a much bigger issue to it than just tracking your systems in real-time. The real-time monitoring of different systems is only supposed to help you predict energy usage within the company so that you can implement the right and effective load-level energy equipment. Secondly, you no longer have to move from room to room and office to office adjusting the thermostats to save energy. With IoT, your thermostats are now connected to sensors that can easily be controlled remotely. You can save a lot of money on your energy bills by powering down all parts of the business premise that are not in use. The Internet of Things is here to level the playing field for various companies in their quest to reduce operational costs and gain agility.

Summing up IoT delivers the real time value to the business. IoT is bringing remote access and optimization opportunities to every aspect of a modern business. It obviously saves the time and energy and lowering the fixed cost of the company. 

Source: HOB