Financing options help make a strong IoT business case Sponsored Content by IBM
Adoption of IoT (the internet of things) solutions is a necessity to be competitive. In fact, for most companies the question is not if they will use IoT, but when. Engaging quickly in targeted experimentation followed by careful scaling of scope is a judicious approach. Speedy deployment is critical to gaining competitive advantage and staying ahead. A fast way to get started that also minimizes the risk of any new IoT project is to take advantage of vendor financing.
Why the need to rush? Leading companies in energy, telecommunications, manufacturing, and other fields are already reaping benefits by using IoT. They have found that IoT has the potential to radically improve visibility in operations and processes resulting in operational improvements, smarter decisions, more efficient use of resources, and many other benefits.
At the heart of all IoT initiatives is the use of sophisticated analytics to gain extraordinary value from the data delivered by digital processes, sensors, and devices. Analytics enables the use of that data to make more informed business decisions.
For example, IBM TRIRIGA provides a single system to manage the lifecycle of facilities. Its integrated workplace management system increases the operational, financial, and environmental performance of facilities. Through business analytics, critical alerts, and automated process capabilities, IBM TRIRIGA can increase visibility, control and automation of real estate management, capital projects, space management, facility maintenance, and energy management.
Another is IBM Predictive Maintenance and Quality (PMQ) which accesses multiple data sources in real time to predict asset failure or quality issues so your organization can avoid costly downtime and reduce maintenance costs. Driven by predictive analytics, these solutions detect even minor anomalies and failure patterns to determine the assets and operational processes that are at the greatest risk of problems or failure. This early identification of potential concerns helps, maximize equipment uptime and enhance quality and supply chain processes.
But investing in these technologies often requires new funding sources. It is likely that you’ll need new technology to support your transformational initiatives as your company’s demand for data-driven insights grows.
Financing IoT to change the game
Organizations that digitize their processes and make use of IoT and data analytics realize amazing benefits. A survey by the American Society for Qualityi of manufacturing companies found that 82 percent increased efficiencies, 49 percent experiences fewer product defects, and 45 percent increased customer satisfaction.
Unfortunately, as is the case with any new technology there can be obstacles to deployment. A major issue to overcome in most companies is quantifying the benefits to make a business case for IoT’s use. A recent study foundii that difficulty determining ROI was one of the top barriers to implementing IoT.
This is where financing such as that offered by IBM Global Financing can help.
IBM Global Financing allows companies to get started faster on their IoT projects while minimizing risk by providing payment options covering all elements of the solution, including on-premise software, SaaS, multi-year Subscription and Support costs, leases on IBM and non-IBM hardware, and business and IT services.
With financing from IBM, companies do not have to allocate large sums of money to start a project. A company does not have to incur huge CAPEX costs, thus making it easier to get initial approval to undertake a venture. As a result, financing mitigates the risk of taking on an IoT project. A company can safely dip its toe in the IoT waters knowing financial risks are minimized. This makes it easier for companies to try innovative IoT projects that potentially have a large return on investment.
To that end, IBM Global Financing allows faster deployment and realization of IoT benefits. Financing from IBM gives companies the flexibility to be bolder and try different ideas without large upfront investments.
IBM Global Financing offers custom payment plans to help a company manage its money more effectively. IBM’s global reach, technology expertise, and industry-leading financial services address an organization’s needs from start to finish, no matter the size or complexity of a project.
Through customized financing solutions, your company can:
- Accelerate time to value by deploying new IoT and analytics technologies now
- Consolidate funding from one source to invest in technologies needed for tomorrow while conserving cash today
- Gain financial flexibility through predictable monthly payments based on a company’s specific needs
Furthermore, IBM IT financing specialists can show you how to reduce budget barriers, accelerate deployment, and better align project costs to goals.
Simply put, IBM offers a wide range of funding options that can help your company leverage the benefits of IoT and analytics to gain a competitive advantage.
To learn how IBM Global Financing can help your organization speed the adoption of IoT, visit: www.ibm.com/financing
i http://www.industryweek.com/operational-efficiencies
ii http://www.businessinsider.com/internet-of-things-in-manufacturing-2016-2
