It is common to hear – indeed, clients and executives of companies of all sizes often tell me – that IoT -based solutions are out of reach to the majority because of the high costs they involve.
But to me, the cost of an IoT solution cannot be analyzed on its own without taking into account a series of variables that determine real returns on investment in the long term. That’s what we should really be measuring.
For example, some companies make the mistake of starting at zero to research and develop the IoT applications they need without first taking a look at the options already on the market. When approached this way, IoT is very expensive, and companies are reluctant to continue their investments in this area.
A number of companies within the IoT ecosystem, however – including Identidad IoT – have used our knowledge of the industry to create IoT-based tools and solutions as an as-a-service model that is within everyone’s reach.
This model makes it possible for companies, regardless of size, to begin implementing IoT solutions without the need for big investments. By paying only for what they need, these companies have been able to cut costs and simplify their infrastructure.
As-a-service models allow business owners and managers to use IoT technology to create and design strategies that have a positive impact on their growth and guarantee their continued market presence.
The reality is that today’s companies don’t need the financial resources to create new infrastructure and solutions and pay for their upkeep. They can opt for an on-demand model instead.