TECHNOLOGY TRANSFORMATION
this represents a major threat which could derail IoT projects by postponing the time-to-value , and thereby reducing the competitive advantage that businesses stand to gain .
Matthew Dunkley , a Director for IoT at Flexera who works with businesses to monetize their IoT investments , recently penned some notes around best practice for intelligent device manufacturers .
“ The Internet of Things is transforming today ’ s landscape – promising higher margins , new revenue streams and steep profits . Manufacturers used to be able to deliver updates yearly , which seems almost inconceivable today ,” he says . “ Constant updates are now the
“ The Internet of Things is transforming today ’ s landscape – promising higher margins , new revenue streams and steep profits ”
MATTHEW DUNKLEY Director for IoT , Flex norm – be it weekly , daily or even hourly . Producers must absolutely do that to keep their software safe and secure and mitigate vulnerability risk .
“ Companies making this transition are already reaping the rewards and commanding premiums . Why ? Because they understand the power of their device is in the software , which includes all of the features buyers desire . And managing the software in devices requires a different way of looking at their entire business model .”
He expands : “ Take software upgrade management , for example – the process of making sure customers have the latest and greatest technology powering their devices . IoT companies that think like software companies know they must manage the core processes ( renewals , delivery of software and updates , maintenance and services ). If they do not do this right , they will suffer from low renewal rates .
“ For instance , IoT companies often do not have processes in place to manage the software lifecycle over time and drive renewals – meaning that end users are often unaware of available upgrades , or have trouble finding them . When
26 January 2018