How IoT is Transforming Field Service
IoT is quickly transforming field service as businesses are scrambling to understand the applications and options available to implement IoT into their products and service offerings. Consumer-based applications such as wearable fitness monitors and self-driving cars probably attract the most attention and are highly prevalent at this time. However, B2B (business to business) applications is estimated to capture at least 70 per cent of the value of IoT, which could have a potential economic impact of $4 trillion to $11 trillion a year by 2025.
For businesses, connected technology can drastically improve the bottom line, especially when it is paired with systems like SAP Business One that can analyse and churn out meaningful reports. IoT is also a key area in changing and transforming field service by improving the delivery and execution of services throughout diverse industries and applications. Placing the right system in place will enable actionable insights from the information and data gathered from the technologies.
Key benefits for businesses embracing IoT
- Continuously monitor and collect device data for more accurate analytics
- Detect anomalies through remote monitoring and provide proactive support
- Perform predictive (instead of scheduled) maintenance
- Proactively identify next best actions for maintenance and repairs
- Leverage machine-to-machine diagnosis and self-healing
At this early stage, IoT is already having a real impact on changing how goods are manufactured and distributed, how products servicing works, and how services are deployed to consumers. A substantial investment in new technologies, capabilities and talent is needed to capture the full potential of IoT applications and further develop the capabilities of IoT in business applications.
To understand how you can use technology to enable your IoT applications, speak to us today