How can companies improve service and gain tangible ROI by remotely monitoring equipment using the IoT? This buyer’s guide offers practical advice for companies starting their remote monitoring journey to transform the way they service their equipment whether it’s on site, in the field, or at a customer location. At the same time, it offers recommendations to ensure that early projects build a foundation for future machine monitoring and Internet of Things value. As usual, this guide helps companies set functional requirements for their solution, but also addresses implementation, adoption, and partner criteria that help ensure companies get value from their solutions today and well into the future.
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Table of Contents
- Improve Service ROI, Build your IoT Foundation for the Future
- Remote Monitoring Drives Service Performance *
- Access Equipment and Equipment Data *
- Communicate with Equipment *
- Leverage the Edge to Pre-Process Communication *
- Share Actionable Service Information *
- Implementation and Adoption *
- Selecting a Strategic Partner *
- Next Steps
- Buyer’s Guide Checklist *
Improve Service ROI, Build your IoT Foundation for the Future
Companies are leveraging the IoT to digitally transform their business and the results are impressive. But many struggle choosing a place to begin. One proven way to get started is by remotely monitoring machines. This initiative allows manufacturers to quickly achieve IoT value while paving the way for even more substantial benefits over time.
The most common way that companies gain tangible ROI from IoT is through improved service. The IoT lets companies transform service to generate more – and more profitable – service revenue. They do this by moving from reactive to proactive to predictive service, and leveraging advanced technologies like AI, machine learning, and big data analytics. They can also adopt new service delivery processes like remote service. But the most common first step is reducing cost of service through remote monitoring.
This guide briefly shares the tangible, practical first steps companies can take to improve service through IoT remote equipment monitoring and how IoT Platforms help deliver the value. Then, the majority of the buyer’s guide focuses on the important requirements companies must consider to ensure a successful initiative.
Leveraging the IoT can help companies improve service for themselves and their customers by reducing cost and transitioning to proactive and predictive service. Remote monitoring allows companies to identify and resolve issues remotely, providing faster service and increased uptime for the customer while reducing the cost of truck rolls and putting service technicians on site. It can go beyond cost savings to create a new source of revenue from paid upgrades or remotely enhancing equipment capabilities or permissions by “unlocking” enhanced capabilities via a subscription.
*This summary is an abbreviated version of the report and does not contain the full content. A link to download the full report is available above.
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