Digital Innovation: Revolutionizing business processes in the con-struction industry (Content Strategi)

Digitalization through apps is transforming how we do business. Most organizations have adopted a digital system to handle their business processes. Such digital leaders experience up to eight times growth in their operating profits according to studies by McKinsey and Company.

Companies like Uber, Alibaba and AirBnB are few such supremely successful enterprises that rely purely on digitization.

While the adoption rate of mobile digitalization is quite high in most industry sectors, the construction industry seems to be slow on the uptake. According to a McKinsey and Company report, the construction industry is one of the lowest digitized sectors.


Source: Harvard Business Review

Research by JBKnowledge indicates that construction companies spend less than 1% of their revenues on IT, which is less than one-third of what other businesses spend on the same. It further shows that nearly 40% of construction companies do not even have a dedicated IT department.

Low IT Resource, No Problem – Low-Code/Codeless app building tools to the rescue

There is a rising demand for mobile digitalization, especially in the construction industry. Business units in the field need access to real-time data on resources, materials, logistics and more.

For instance, the greatest benefit of digitalization in logistics services is from crowdsourcing. A report from the World Economic Forum indicates that trucking companies can improve their utilization levels by 20% and greatly improve profits.

A digital transformation in this sector offers the convenience of real-time tracking and lower costs leading to savings of up to $789 billion to the customers in the logistics industry.

Fast Tracking app development

Gartner’s framework for Bimodal IT recognizes that traditional app development practices are no longer sufficient for organizations looking to digitally transform their business. It is necessary to democratize app development so business users who may not be technical experts can still design fully functioning apps without heavily relying on the IT department.

Gartner predicts that by 2018 more than half the mobile apps will be created using codeless tools. Digitalization is the key to providing improved customer experience, increased employee productivity, agile IT and business operations.

AppGyver’s Composer – Gearing towards Bimodal IT

Gartner’s concept of Bimodal IT expounds the need for organizations to have 2 modes of IT – traditional IT with a focus on efficiency and safety (Mode 1), and Agile IT to support prototyping, fast iterative development and rapid delivery (Mode 2).

AppGyver’s Composer is a platform that has a lot of options out-of-box, but it also supports the need for tech-savvy users to write their code. This allows for iterative testing to get the desired results while building their apps.

The Composer also integrates with enterprise authentication protocols, all standard business databases and data sources such as Oracle databases and Salesforce, thereby increasing their flexibility of use.

AppGyver’s Composer – Digitally transforming the construction sector

The construction industry usually has multiple projects at any given time. There is the key requirement to have up-to-date information, tracking and visibility on ongoing projects, materials, sub-contractors and more.

Mobile digitalization makes the information more transparent. It can help prevent design clashes, issues in construction and hence avoid costly rework. Central databases can be continually updated, so users have real-time data on the field.

A study by the Boston Consulting Group shows that full-scale digitalization in the case of residential construction enables cost savings 0.7 trillion to 1.2 trillion dollars. That is 13-21% in the Design & Engineering phase and Construction phase of Building Information Modelling (BIM). In the Operations phase of residential construction, it enables a cost saving of 0.3 – 0.5 trillion dollars; i.e. 10-17%.

Reaping the benefits of Composer’s visual app development platform

AppGyver’s Composer has one of the most extendable visual app development platforms on the market. It is easier to build advanced app logic while the Composer platform rapidly builds the requisite backend.

The business data is secure inside the company firewall and Composer allows for any custom authentication methods with full ACL for app data.

AppGyver’s Composer helps reduces the go-to-market time for apps considerably. Customized apps to suit the needs of architects, tech consultants, contractors, real-estate companies, clients and end-users can be ready for use 10 times faster.

Fast track your business innovation projects using Composer’s high productivity platform from AppGyver.

References:

  1. “App development should be democratized” – Burley Kawasaki
  2. “Which industries are the most digital?”- Prashanth Gandhi, Somesh Khanna, Sree Ramaswamy
  1. “Software and digitization are leading business transformation”- John Brigden
  2. “The battle is for customer interface”- Tom Goodwin
  3. “Imagining construction’s digital future”- Rajat Agarwal, Shankar Chandrasekaran & Mukund Sridhar
  1. “Construction industry needs to embrace digital revolution” – Alexandria Cain
  2. “Digital transformation in the construction sector isn’t just about BIM” –Daria Taylor
  3. “What’s the future of construction industry?”Santiago Castaginino, Philipp Gerbert, Christoph Rothballer
  1. “What Gartner’s Bimodal IT Model means to enterprise CIO’s”Bernard Golden
  1. Forklift manufacturer Rocla delivers a 3 month App project in 2 weeks – Jeff Alonzo
  • Digitization in the construction industry – Roland Berger
  • Bimodal IT – Gartner
  • The 5th Annual construction technology report – JBKnowledge
  • Opportunities of the digitalization for construction – Jan Byfors
  • Shaping the future of construction – World Economic Forum
  • Digital transformation of industries: Demystifying digital and securing $100 trillion for society and industry by 2025 – World Economic Forum
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FINANCE TECHNOLOGY INFLUENCING TODAY’S CFO (Content Princess – SEO)

Today every CFO has a specific skill set which is complimented by the rise in finance technologies.  The latest technology developments and finance systems cut through the complexity inherent in basic duties.  This, in turn, makes it simpler for the CFO and CEO levels to integrate with a better understanding.

According to an article published last year in The Wall Street Journal written in conjunction with Deloitte, the CFO insight and analysis professional service, tech innovations such as large data platforms, mobile and social media tools and business analytics are continuously transforming finance technology.

These new financial toolkit capabilities assist in such ways towards support and collaboration between the CEO and CFO.  The modern CFO skills will encompass tech trends that fall into two categories.

Firstly, there are the disruptive innovation technologies.  These are developments that will have fundamentally changed modern business in a few years and definitely impact how it is implemented today.  This includes in its list finance technology big data, crowdsourcing, cognitive and predictive analytics and social media. 

The modern CFO who integrates these big emerging technologies and derives financial impetus from them will be positioned to take their company well into the century.  By using these innovations to further the company finance function, this will drive performance across the board.

The second CFO technology trend is all the enabling tech innovations currently in use.  These have already altered the course and enhanced the daily financial operations in companies today.  Included in this list are such financial tech innovations such as Software-as-a-Service (SaaS), Mobility, in-memory and visualisation computing.

These Finance Technology innovations have been highly beneficial upon implementation.  The modern CFO uses them to achieve such things as to gain better performance from the company’s systems and lowering cost of ownership. These financial technologies hand a very effective toolkit to the CFO.  It is now possible to exponentially advance and enhance financial agenda.

Efficiency and cost reductions can be monitored by keeping the SaaS model constantly in sight.  IT finances can be moved from capital expenditure costs to the operational budget.  This is possible as in place of owning an asset, IT would be consuming a service on a when needed basis.

By employing the SaaS model and technology to gather traditional performance analytics and management, this will save having to invest in hitherto unavoidable integration.  For example, subsuming new organisations into the main enterprise program would no longer be necessary as they would have the ability to operate their analytics.

This kind of mobility can extend and integrate the CFO’s capabilities more seamlessly into the organisation.  The new finance technology trends give mobility to support the business’s need for personal servicing and remote enabling of business processes, reporting and analytics at the point. 

This enhances all company decision support. CFO’s ability to communicate and partner alongside business by rendering financial data into easily consumable and familiar language to business is a powerful tool.  Perhaps the most welcome Finance Technology innovation available to the modern CFO today.

KEYWORDS: Technology CFO; Finance Technology; Modern CFO skills and competencies.

References: www.timoelliot.com www.deloitte.com/ www.deloitte.wsj.com

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Technology Trends Impacting Today’s CFO(Content Princess – SEO)

Being a chief financial officer in today’s world of technology is already a role which is proven to be an ever-increasing challenge. Faced with the stresses of managing finances and making crucial financial decisions, CFOs are often confronted with an abundance of stress throughout their day-to-day life.

Though with this new age of technology thoroughly upon us, the CFO’s role is only becoming more and more stressful and they have to adapt and grow every day to stay on the top of their game.

As well as a lot of trends giving CFOs increased stress, some of them are also granting them further abilities and distances, allowing them to reach out across the financial world and explore in greater depth.

Added stress does come with technology changes and advancements, though not all are necessarily bad for the CFO. It can be good, in forcing the current CFO to develop a wider range of skills and competencies.

Some Things That Are Having An Impact

One of the most notable things that are impacting today’s CFOs are platforms which offer regular updates as often as twice or thrice yearly. Platforms which fall under the category of Cloud provide regular updates as mentioned previously, with leading technologies under the Cloud bracket offering as many as four updates a year.

This has an effect on CFOs because instead of having to freshen up their knowledge and become familiar with updates every four or five years as with previous technological platforms, they are now required to get familiar with updated versions far more regularly, resulting in more work and more stress with constant learning curves.

One thing in today’s technological world that can aid a CFO is the broadness of the mobility that they have at their fingertips. It’s this ability to have access to their data or near enough any other data whenever they wish to view it and analyse it.

It grants CFOs with a greater and more in-depth look at their respective market or niche, allowing them to make more accurate financial decisions for their business’s growth. It would aid with investment priorities as they would be provided with a broader range of typically more accurate data on which to base their decisions.

Another positive aspect of having access to mounds and mounds of data would be that CFOs would be able to pay close attention to external information. External Information like trends and tactics in other countries and other businesses – and attempt to apply those strategies to their organisation, coupling it with the internal information that they have already sourced and looked into meticulously.

That does, however, come with a downside to it, as CFOs could become overwhelmed with information if they try to look into too much all at once. This could result in confusion and the over-complication of otherwise simple decisions. Though information is the most valuable asset available to CFOs, it can also pose as just as much a pitfall.

An Important Role

In summary, being a CFO comes with many challenges and downsides, just as any role in technology does. It is a stressful position, to begin with, though in this world of ever-evolving technology and growing trends, they are forced to stay on top of their game.

 Although this can cause much stress and can give them a much harder time, it can also be of a great benefit as they have access to so much more than anyone who has worked in that role previously.

 As in every walk of life: it is all about adapting, learning and evolving to become more efficient and prolific in your respective position. And trends in today’s technological world are most definitely forcing that upon the CFOs of this generation.

LSI Keywords:

  • Technology
  • CFO
  • Finance
  • Organisation
  • SAP
  • Data
  • Mobility
  • Platform
  • Cloud
  • Information
  • Business
  • Systems
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Technology Trends Impacting Today’s CFO(Content Princess – SEO)

As the CFO, your chief concern is the financial health of the business you work with. To remain competitive, you must also be aware of the latest trends in your sector. However, CFO’s may not have the time to maintain a competitive edge in both finance and technology.

This is where the division of labour is relevant. Division of labour is a concept first proposed by Adam Smith in his book “Wealth of Nations” in 1776. The concept of division of labour is centralised on the principle that by dividing tasks into their parts, and subsequently allocating a reduced variety of tasks to individual workers – but a greater volume of these individual tasks – that the speed at which any single process is performed is increased. Thus, the per-worker productivity of each employee is increased.

How does this relate to Systems, applications and products (SAP)? Artificial intelligence (AI) is a strong area of growth in the technological realm. By utilising automated systems for identification of potential problems as well as providing actionable insights, any CFO has a powerful tool for streamlining processes and gaining an edge over competitors.

There is a range of artificial intelligence systems available for customization and application to business processes, allowing human resources to be redirected into more skill-intensive areas. Many people distrust AI due to an inability to understand how they operate. However, the algorithms which AI relies on are significantly more reliable for routine tasks than the humans who make calculations the old-fashioned way.

Since AI is very likely to be here to stay, it follows that people who have a vested interest in such technologies will probably have an important contribution to make to the algorithms which AI relies on. By engaging workers’ perspectives with the development of these algorithms, the usefulness of AI in business can be improved. This will create a more inclusive atmosphere to the field of computer science and by extension, demystify a lot of the misconceptions many people have about it.

What are we to say about the problem of “Robots taking over worker’s jobs”? It is a valid concern that by increasing automation, we are creating a situation whereby people are being made redundant. However, it is not all bad news. As more robots take over the jobs which workers used to do, humans are freed up to pursue those actions which they find more enjoyable.

For example, one could envisage a future where a Father has more time to spend with his children due to the automation of tasks which he used to perform routinely. This is not to say that there will be no place for work in the future: instead, it means that workers can commit to the process of using their creative and imaginative abilities rather than feeling trapped in a job which involves long hours of routine and monotonous tasks which a machine could perform.

If machines perform the routine jobs which workers once did, what of the people who are made redundant? The answer to this lies in the notion that whilst a machine can perform millions of calculations per second, it cannot carry out the task of navigating its environment nearly as well as a human can. And there are countless examples of where people perform a job better than machines.

So, where we previously thought that machines were superior to humans, instead it seems to be the case that by using machines to perform the monotonous jobs that workers used to do, we are freeing up human resources to work on those other jobs which require a more adaptable kind of intelligence. It is important to remember that being competitive does not mean doing what everyone else is doing, but instead making the best use of the tools available.

While a human cannot calculate Pi to a thousand decimal places quickly, a machine can. On the other hand, while a computer cannot perform what is to a human a fairly straightforward task: such as maintaining a natural conversation, many people can do this with ease.

Since the explosion of the internet, almost all people in developed countries have access to a computer. While not everyone is inclined to jump into piles of computer code, there are still significant contributions to be made to algorithms by those workers whose jobs have been largely automated through AI, via, paradoxically, the face-to-face conversations which humans are so much better at.

Keywords

Technology CFO, Finance Technology, Modern CFO skills & competencies, Artificial Intelligence, Financial Health, Division of labor, Automation, Human Resources, Systems applications and products, Productivity

 

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Technology Trends Impacting Today’s CFO(Content Princess – SEO)

If you are a CFO (Chief Financial Officer), you may not be asking for change and disruption.  However, you need to be prepared for technology to play a significant role in the growing expectations of the job.  Surveys have indicated that executives feel better about finance when they can provide real – time data and consistently – updated predictions.  Cloud, In – Memory Computing, Big Data, Mobile and other technologies can make life easier for CFOs.  The Cloud ERP is a proven technology which is assisting big business to operate more successfully.

Technology Trends to Watch Out for in 2017

The Services Economy Will Be “The Economy” – In 2017 more than half of all businesses will be structured around services – connected revenues.  CFOs will become more occupied with customer approval, retention and rekindling.

Approximately 90% of companies will acquire more than half their profits from services.

CFOs Get Hands – On with Customer Involvement – Businesses are moving from product and solitary transaction sales to service and subscription models.  CFOs will be forced out of the back office and into ongoing customer – facing roles.  Successful software companies must provide tools that:

  • Merge billing sources.
  • Sustain and automate new revenue models.
  • Give end – to – end discernibility across the customer lifecycle.

Revenue Recognition Will Propel CFO Technology Implementation – CFOs will become more dependent on cloud technology to follow revenue recognition standards.  The IFRS15 and ASC606 standards will motivate the next move of technology improvements and encourage more businesses to move to the cloud.

Clever Assistants Move Out of the Echo Chamber – Strong artificial intelligence and voice recognition enable developers to develop systems that:

  • Test the position of project deliverables.
  • Manage reports.
  • Use simple voice commands to respond to business information.

Atlassian released a HipChat Alexa integration to allow developers to revert to code and tackle issues with websites using voice commands.

Evolution from Reactive to Proactive with the Cloud

Cloud ERP (Enterprise Resource Planning) assists companies to consume a computer source such as a virtual machine just like electricity. This negates the necessity of building and maintaining computing bases in – house.

The advantages of single based business platforms are:

  • Affordable and quick to implement.
  • Easy to manage and operate.
  • Sales scales to sustain future growth.
  • Adjustment to the firm needs
  • Data – rich with inbuilt business intelligence.
  • Provision of a united view for total visibility across the firm.

Cloud ERP provides a high return on investment. In a 2015 study, most companies reported an ROI of more than 150% after changing to the cloud which continues to mature.

Business in 2017 will go through significant changes, and CFOs who adapt will reap the rewards.  In – Memory Technology combines real – time actuals with budgeting and analysis in one integrated system.  Financial data is saved just once which makes almost every facet of commercial operations simpler, faster, more effective and cheaper. You will certainly experience the impact of technology trends which will make your job more enjoyable and improve the overall business prospects.

 

Primary Keyword – CFO

Secondary Keywords– Technology Trends, Cloud, Technology, In Memory Technology, Revenue Recognition, Businesses, Services Economy, Technology Implementation, Echo Chamber.

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Why good WiFi is just the beginning (Content Strategi – SEO)

Wi-Fi is now expected to be ubiquitous with IoT devices everywhere. Travellers expect seamless integration and connectivity for their typical tasks such as checking email, taking work-related video calls, logging onto social media and so on.

The importance of Wi-Fi for your guests

Mobile professionals are actively counting on Internet connectivity for their everyday needs.  Studies by Roomzzz indicate that nearly 67% of hotel guests attempt to connect to Wi-Fi within 7 minutes of arrival. Nearly 33% of the hotel guests ask for Wi-Fi passwords during check-in, and 25% of the guests ignore the TV and focus on connecting to Wi-Fi as soon as they enter their rooms.

Wi-Fi has surpassed being an amenity and turned into a necessity and integral part of life. More than 66% of US travellers place Wi-Fi as their deciding factor when it comes to choosing accommodations.

Quality of your Wi-Fi influences guest’s choices

The iPass Mobile Professional report of 2016 indicates that 72% of people choose hotels based on their Wi-Fi experience.

Good Wi-Fi leads to better guest experiences and better reviews. And reviews impact revenue, especially since 81% of the travellers find hotel reviews important when choosing their accommodation.

Secure, stable and speedy Wi-Fi – A fundamental requisite

Wi-Fi is now emerging as the centre of a new ecosystem. It has become an indispensable component of innovative applications such as facial recognition apps for keyless entry, robotic bellhops [Yotel – New York City], and mobile mission control systems [Mood Pads] to control guest services like room service, housekeeping, room temperature [Peninsula hotel group, CitizenM] and more.

Endless Possibilities

This is just the beginning of visionary applications that will make a guest’s experience exceptional.

From a management perspective, effective Wi-Fi helps develop a leaner and more efficient way to manage the hotel.

How Qlicket can help you

JD Power’s “2016 North America hotel guest satisfaction index study”, shows that despite the increased demand for Internet access across all hotels, almost 31% of hotel guests experience Internet issues.

Qlicket can help solve such concerns and facilitate a consistent Wi-Fi service for your guests.

Qlicket is an enhanced Wi-Fi system that finds your dead spots, sets up access points and ensures uninterrupted connectivity for your guests. We have 99.9% uptime with complete bandwidth management and 24/7 customer support.

We also have free on-site evaluations and a 30-day trial with no contracts or lock-ins. More importantly, we hold a 100% retention rate of our US clients.

Talk to our consultants today to see how we can get you more out of your Wi-Fi with features like instant guest feedback, management dashboards and more.

Make your guests brand loyal with a Superior Guest Wi-Fi experience from Qlicket.

 

Keywords: Qlicket, superior guest Wi-Fi, importance of Wi-Fi, hotel guest connect to Wi-Fi, Wi-Fi amenity, secure stable Wi-Fi, uninterrupted connectivity, better guest experience, enhanced Wi-Fi

References:

  1. “Hotel Wi-Fi more important than breakfast and parking for US guests”PJ Cunningham [Lonely Planet]
  2. “Wi-Fi trends: What to expect in the next five years” – Robert Brown[CIO Review]
  • “Rules for successful hotel Wi-Fi” – Keith R. Parsons [WirelessLAN Professionals]
  1. “Study reveals the importance of Wi-Fi” – Casey Gale [Lodging]
  2. “Even the super rich want free Wi-Fi in Hotels” – Justin Bachman [Bloomberg Pursuits]
  3. “Exceeding Customer Expectations: The Importance of Wireless and the Wi-Fi Password” –Hospitality [Samsung Insights]
  • “Hotel Guest Satisfaction Plateaus as “Perks” Become Standard Expectations, J.D. Power Study Finds” – D. Power
  • “What’s More Important than Sex, Chocolate or Alcohol? Wi-Fi, According to a New iPass Report” – iPass Inc.
  1. “Internet Travel & Hotel Booking Statistics” – Statistic Brain
  2. “Check into the futuristic hotels that push technology beyond free Wi-Fi” – Les Shu [Digital Trends]
  3. “The citizenM room has affordable luxury coming out of its ears” – Citizen M
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Wi-Fi THE NEW CENTER OF HOSPITALITY (Content Princess – SEO)

In a competitive business market, everyone wants to make a difference and offering free Wi-Fi is the latest trend.

Why offer free Wi-Fi?

Recently, the Wi-Fi revolution has taken the world by a storm, unlike the past few years. Today, restaurants of all types offer complimentary Wi-Fi to their patrons. It doesn’t have to be a restaurant alone but any industry.

The fundamental idea is understanding the benefits of offering the services. Providing a fast and reliable internet connection would be more advisable due to its advantages.

What are the benefits of free Wi-Fi to the customers?

Is there any real evidence of the advantages? Here is the answer. Here are some of the advantages;

  1. Security to the customers
  2. Nurtures community development
  3. Makes waiting time seem short

 Security to the customers

Room key cards have been replaced by facial recognition applications, therefore, increasing confidence among the customers. This has been made possible by fast internet connection.

Nurtures community developments

Free Wi-Fi access not only gives individual customers an excuse to stay around for your business but also provides reasons for groups to gather there and do something beneficial. The different groups might gather or frequently come into your store to have a free Wi-Fi access.

Makes wait time seem short

At a business where customers must wait for services, free Wi-Fi helps time fly. When clients are using Wi-Fi, they are less likely to be disappointed by time consumption in case a delay occurs.

Benefits of free Wi-Fi to businesses

Free Wi-Fi is certainly an added advantage to venue owners to attract new customers. Here are some advantages to the site owners;

  1. Email marketing.
  2. Promotion analysis.
  3. Increased spending.

Email marketing

Many companies specialise in offering free Wi-Fi through custom portals which provide their guests promotional information in exchange for their email address. The service does not only get you a new chance to promote your industry but offers the opportunity to send exclusive promotion code. You can also wish them happy holidays and simply thank them.

Promotion analysis

If there are no increased total receipts at your company, then you need to do something. Tracking your customers could be the only solution. When a promotion is done, more customers tend to come in, and this helps to identify whether there is progress in the total number of its clients.

Increased spending

When customers spend more time accessing Wi-Fi, the more is their spending. Research shows that clients spend 50% more time and some of them even said that it increased their spending.

Conclusion

A fast internet connection that is brought about by free Wi-Fi access does not only bring about the benefits to both the customers and the business but also helps in the management of the company. There are a lot of advantages in offering this kind of service and the probability of thrilling in your business is huge.

According to this article, some words may be of a guest author. The ISL keywords used are,

  1. Fast internet connections.
  2. Email marketing.
  3. Wi-Fi access.
  4. Reliability.
  5. Availability.
  6. Research.
  7. Customers.
  8. Benefits.
  9. Offerings.
  10. Promotion.
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INTERNET OF THINGS(Content Strategi – SEO)

Internet of things is considered as a third wave of internet helping to revolutionise the world. After several decades of improvements and developments in technology and revolutionising of the world, there have been several changes that have been deemed crucial for better services and improved products across the globe.

It is perceived that in the current generation, companies’ success is dependent on the internet of things to thrive. An overview description of internet of things describes it as a sole platform that connects devices like consumed services and products onto the network and revolutionises management making it highly efficient with expanded room for further developments. It is also considered that consumer demand is an aspect affecting internet of things adoption.

INTERNET OF THINGS TRENDS

Internet of things is mobilising followers in large numbers in its transformations. It helps in bringing about changes in the entire work process, helping in the productivity improvements, cost containment and also helps in the enhancement of user experiences.

Some of the recent trends in IoT are:

  1. APPLICATION PROGRAMMING INTERFACE (APIs)

It serves as a bridge where it connects useful information and plentiful of data to the IoT. Through the exposure of relevant data to connect devices, it forms a vital interface between the internet and things to actualize previously unseen forms.

  1. SECURITY

Most individuals are highly sensitive when it comes to the issue of security and concerning their personal devices and information and data. This is achieved by all market players doing their part. To attain this level of security, a good system should be employed which can help attain the full potential of Internet of Things.

There have been some reforms that have been undertaken to attain maximum levels of security, and some of the concerned organisations helping in this are Industrial Internet Consortium (IIC) and IoT Security Foundation (IoTSF).

  1. PLATFORMS

It is an area that received great attention in the previous year. Business goals are attained by giving them the right platforms with right elements. A reliable IoT platform should connect devices, have the ability to gather reliable data, and furthermore accommodate a number of users.

As an addition to the above, a good platform should also have the capability to handle millions of messages at an instance. This makes it an agent of transformation in the business sector.

  1. COGNITIVE COMPUTING

This is where the developed technologies around make the use of IP addresses to hover beyond connection and make it an intelligent feature. It helps different devices to be able to diagnose and adapt to their environment without, or minimal human interference. This has been made possible mainly through the use of sensors.

This feature can also handle large inputs and generate meaningful outputs. It has been able to keep up with the growing complexity of the Internet of Things by managing data.

CHALLENGES OF COMPANIES THAT FOCUS ON IoT

  1. SECURITY AND PRIVACY

There is a notable inadequacy of security of user data. It is a vital problem that is mainly affecting big scale levels. Different individuals, software and products also have a varying level of security needs.

Despite the cited case of insecurity, tremendous efforts have been made to curb this problem.

  1. INCONSISTENT STANDARDS

Product development has been quite rapid over the years, and there is a notable pattern in their variations.

To help curb this, solutions have also been developed to support new development like guidance from skilled individuals and solution integration.

  1. TECHNOLOGY CONSTRAINTS

This is where the developed products lack the efficiency or effectiveness required. It is not considered a problem among many users, but affects a number of individuals and has been solved through technology innovations in the IoT sector.

  1. The need to extract more value from each application.

TOP CONTENDERS FOR THE IoT PIE

There is high competition among companies and individuals but some of the top contenders to watch in the near future, or that have succeeded in recent past are mentioned below:

(a) Honeywell

It is considered a part of the Industrial Internet of Things and is focused in implementing digital technology into the manufacturing sector.

(b) Hitachi

It is a consulting company in Japan well known for helping companies apply IoT solutions in IoT spaces independently.

(c) Comcast

It is a well-known cable TV service provider and has developed a well-paying strategy to compete in the market.

(d) T-Mobile

It partnered with Twilio to make a cellular communication platform that could change IoT developed works.

Other companies that are succeeding are AT&T, Cisco (CSCO), IBM, Amazon, Skyworks, Apple, Google etc.

KEYWORDS

Internet of things

developments in technology

Trends

user experiences

IoT

Industrial Internet Consortium

IoT Security Foundation

IIC

IoTSF

IoT spaces

IoT solutions

Industrial Internet of Things

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Today’s IoT Trends – A Worldwide Phenomenon(Content Strategi – SEO)

IoT is rapidly becoming one of the most looked-into and studied trends in the technological world of today, with many firms, organisations and businesses firmly believing that it is paving new pathways in technological advancement, providing companies with an enhanced outlook and greater chance of betterment.

IoT refers to ‘Internet of Things’, and it is one of the hottest topics in today’s ever-expanding world of technology. Many of today’s firms believe that IoT is the key to all of this. Although there have been many keys, they see this as sort of a master-key – almost like the Holy Grail of business growth, both financially and in terms of viewership. IoT is believed to be able to aid in many things, including enhanced customer relationships, business growth, reduced risk, cost and theft, better insights and improved customer satisfaction – and that is only the tip of the business-expanding iceberg.

How Exactly Does IoT Impact Businesses Who Choose To Focus On It?

Although it is thought to be the answer to all questions, IoT – just like anything else – does come with its setbacks. One of the most major flaws of IoT devices was discovered back in October 2016,  when a DDoS attack struck a colossal 1600 websites in the US, crippling their services and distributing important and more importantly, private and confidential information. It proved that IoT devices are somewhat vulnerable and penetrable as opposed to what was originally thought.

Even everyday devices that are powered by IoT such as CCTV cameras and smart-home devices were hijacked and taken control of, then used against the servers. This would be a massive issue for those focusing on IoT in the world of business, because, in a place in which money is at stake, security is of utmost importance. With this hack already making people sceptical, businesses will have to be extra careful to make sure that their own IoT devices are sufficiently protected.

Another challenge that companies choosing to focus and incorporate IoT have to face is talent shortage in the IoT field. Surveys have shown that forty-five percent of IoT companies struggle to find security professionals and thirty percent have the same problems when searching for digital marketers. It seems as though there just aren’t many professionals out there who have adequate training, understanding or experience in the IoT area. Though it seems that in 2017, major vendors must act upon this and are looking to invest in IoT certifications and training. They will make it a part of the mainstream training programs undertaken in the tech industry.

Inevitable Leaps And Bounds

It seems as though with IoT rapidly growing in popularity and becoming more and more of an everyday thing in not just the technological world, but also the normal world, that big companies and businesses are starting to venture down the IoT route. With a lot of corporations beginning to place their focus on IoT devices and programs, there is no doubt about it that others are following suit. Though they may face a heap of challenges along the way and end up having to revise and edit their strategy now and then, it certainly still seems that IoT is the way to go for the corporations and businesses inside of today’s world of technology.

LSI Keywords:

IoT

Internet of Things

Corporation

Businesses

Company

Growth

Technology

DDoS

Firm

Organisation

Digital marketer

Security professionals

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Why and How do downstream fast supply chain systems benefit from IOT? (Content Strategy – SEO)

IOT (The Internet of things) has trended very popularly with manufacturing and businesses. A research firm (Gartner) has researched the huge surge and predicted that by 2020 a supply chain system would operate significantly different than in the past.

How does IOT impact the supply chain system presently?

Currently IOT offers the following:

  • M2M (machine to machine) contact
  • Devices can be monitored, and instantly recognised if not running correctly.
  • Everything will be internet connected.
  • Supply chain leaders can gain much more information on their technology.

In 2015, the IOT market was sized at $900M – McKinsey (see source) predicts that by 2020 the industry will grow to over $3.7B.

A downstream supply chain system

Downstream just means where the company takes part in production; upstream is manufacturing raw materials, whereas downstream is closer to the end user.

Although IOT is very vast amongst business and isn’t a one size fit all, we can use the oil industry as an example and how the players have benefited from using the internet of things.

Upstream supply chain system

Production and exploration

Midstream

Transportation and storage

Downstream

Petroleum retailers and refineries

Let’s look at the benefits of IOT for Petroleum retailers.

The figures:

In previous years’ oil rose to $100 per barrel. However, new technologies recently enabled prices to drop to $20 – $30 per barrel.

This has resulted in well-performing oil companies to preserve top and bottom lines.

Source here

How does IOT help with a downstream supply system?

It will solve a lot of challenges that petroleum retailers face, especially with the following factors:

  • Outlets will be better at organising assets.
  • Easily manage supply chains.
  • Better customer relationships.

Most lucratively, IOT will provide information on every element of their business.

This can include monitoring of petrol pumps, equipment, health and safety, precise logistics handling, stock control and IT equipment.

Can it help downstream players with marketing?

The new IOT system offers more efficient advertising, by expanding visibility into the hydrocarbon supply chain and reaching new consumers through digital marketing.

This is just sticking to the example of a petroleum company; it can fit any business to improve performance, reliability, save costs, and work to maximum efficiency.

How IOT can change how downstream view suppliers

The system can provide retailers of all the suppliers available, an accurate reading of delivery, who’s got the best value stock and to check their reliability.

This will cause much heavier competition between the suppliers, as areas where they lacked before, will need more attention because of higher visibility to clients.

In Summary

Looking at why and how IOT can help a downstream fast supply chain system, we can see the countless benefits it can do to improve a business – and it doesn’t stop there because it’s only still the beginning with this new technology.

When we do reach the year 2020 (when the IOT industry is expected to expand in value by $3), the technology available will ultimately change how the business landscape works altogether.

Keywords:

IOT, supply chain system, the internet of things, upstream supply chain system, downstream supply chain system, How does IOT help with the downstream supply system? How IOT can change how downstream view suppliers, hydrocarbon supply chain, improve business performance

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