Close your eyes and imagine this scenario: a VP sales approaches the CEO and says that she knows there are a lot of great sales tools out there, but she wants a budget to build sales tools that are especially well suited to their business. It will only cost $500K to build, and then just a few hundred thousand each year to keep it running. Well, maybe it will cost more. Now imagine that CEO’s reaction.
The reality is that there are great technology platforms that already solve the problems of sales automation. The same is true across a broad set of areas in the enterprise: ERP systems, marketing automation, HR, CRM and the list goes on.
Why do these platforms exist and even thrive? It is because they all share one primary attribute as it relates to the customers that leverage these tools: creating them it is not the primary function of the customers using the tools. There is almost never a high enough ROI for a company to want to build and maintain these sort of tools themselves. The potential benefit they might get from a custom tool doesn’t support the investment, nor does it help them to sufficiently differentiate from competition. In fact the opposite is typically the case: a tool is built in house or by a 3rd party… and then the engineer(s) that built it move on to different companies, or realize they didn’t have the expertise in the first place to take on the task themselves. The company with the tool is left with an anvil of pain, weighing them down.
Today, the same is now true for the Internet of Things.
As companies rush to create solutions with connected devices and applications, many choose to “make” vs. “buy.” Just a few years ago, that might have been the right decision, because there really weren’t any alternative viable options. Today that is very different, and corporations – large and small – should consider the equation carefully before diving in to create their own platform for IoT.
Working with an established IoT platform provider can eliminate a lot of headaches in bringing connected products to the market. Quicker time to market, lower project risk and lower investment are all benefits of working with an established IoT platform provider opposed to trying to create connected products solely on your own.
So why recreate the wheel when you can work with IoT platform partner that can help your get your connected products to market, letting you focus on what you do best.