What is the Internet of Things and how is it changing the business landscape?
New Business Models
New IoT based products and services drive new business and enhanced revenue.
IoT is changing the way business interact with their customers, improving efficiency and quality of service.
Differentiation from Competitors
IoT allows businesses to generate strong differentiation from competitors.
Enhanced Customer Retention
By better interacting with customers and predicting their needs, IoT based products and services can offer enhanced customer retention.
See how the Internet of Things is changing entire sectors below.
New Revenue Models
- IoT allows business models to change from one-off sales to recurring revenue
- Anything “As a service”
- Removal of upfront capital costs removes barriers to sales
- Simple, predictable monthly charges could unlock sales opportunities
- Embedding the brand more deeply with customers unlocks new revenue opportunities
One Irish business moved from one off sale of capital goods to a recurring revenue “As a service” model. They provide equipment, IoT based monitoring service and access, and predictive maintenance for a single monthly fee.
Customers get enhanced cashflow, more reliability and don’t have to worry about depreciation or breakdowns.
Facilities Management / Maintenance
- IoT enables a change in how companies do business – predict customer’s needs
- Predictive Scheduling reduces labour costs
- Predictive Maintenance offers the customer an enhanced proposition
- Optimised workflows and workforce lead to lower costs and better customer experience
Monitoring of lavatory and other facility usage on a footfall basis allows predictive cleaning schedules, reducing labour costs and driving staffing efficiencies, allowing a more competitive proposition.
Monitoring equipment to allow predictive maintenance and fast response offers an enhanced service to the customer.
- IoT enables food producers to enhance quality and yield
- Allows monitoring of supply chain, environment, inputs and output
- Track and optimise factors such as feed, water, CO2, temperature and more
- Optimised processes reduce costs and improve production volumes
- Insight into production data allows further gains
Monitoring of CO2, feed and water in chicken houses enhances final weight. Control of temperature of farrowing pads in pig farms helps reduce piglet loss. Control and monitoring of water for irrigation helps improve crop yield.
Optimisation of key areas of the supply chain lead to better production, higher efficiency and reduced costs.
Environmental / Waste Services
- Predictive waste collection lowers ongoing costs
- Optimise routes to match needs
- Waste monitoring can help lead to waste reduction
- Enhanced service differentiates from competitors
Monitoring of waste storage across all commercial customers allows on-demand collection when needed, which reduces the cost involved in partial collections.
By monitoring waste production more closely, customers can better meet environmental targets.
Energy / Utilities
Enhanced Customer Retention
- Enhanced services allow the supply of more than just commodities
- New propositions differentiate companies from your competitors
- New types of contracts possible
- Enhanced Customer Retention
The provision of new IoT based products and services to commercial customers allows a smarter approach to energy/water consumption.
By breaking out of the bi-annual sales cycle, the conversation moves to be more than just commodity price, allowing for enhanced customer retention and higher ongoing revenues.
- IoT allows traditional products to get smarter
- Products with historically fragmented solutions can be disrupted with a more integrated approach
- Sophisticated IoT products provide differentiation in more traditional product segments
- Modern IoT based products give customers an enhanced experience
One partner wanted to create a sophisticated IoT based product to replace separate equipment controls, zone controls, and energy monitoring systems for their commercial HVAC customers
With a single integrated solution, they gained strong differentiation from existing products, along with opportunity of both new and incremental revenue.
Sophisticated New Products
We can help companies in all these sectors and others.
Lattice Research partners with companies who want to develop new IoT based products and services. We can help you realise new business models and new ways of doing business.
We provide the Technology
Our product, the “Lattice Framework” is a beginning-to-end IoT solution consisting of hardware, cloud, mobile apps and web.
We provide the knowledge
Many businesses find it difficult to access the right IoT technology. It can be confusing and there is a high risk of failure. Lattice removes the technical risk and provides clarity.
We provide the ability
We can deliver – we’ll rapidly tailor a solution to your specific business needs and get you to market quickly.
We follow a detailed process to ensure success.
We help you join together the initial thoughts, to identify the real value, and quantify the vision.
We deliver a live, working prototype which lets you test the waters, and is a substantially complete version of the final product.
We help you roll it out more widely in your organisation, helping you capatilise on IoT and realise the business opportunities.
Lattice Research is an Irish IoT company with roots in engineering and business.
We don't offer technology platforms for software developers - we offer solutions for businesses.
We know how to make real-world solutions work, and can help put them to work for your bottom line.