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How IoT will alter the way of Business Process Management

Posted by Anurag

Jan 16, 2020 7:15:00 PM

internet of things

The Internet of Things (IoT) has become the centre of discussion for many businesses. Today, every business needs more control on data. Nevertheless, they want to synchronize more devices so that business processes can be managed from various remote places. To provide these things, the internet of things or IoT has a crucial role to play. Another notable thing is that every business is adopting automation. That means businesses want lesser human interactions in managing different business tasks. To implement automation, the internet of things (IoT) plays the most crucial role today.

An introduction to Internet of Things

Before moving further to understand the importance of IoT for today’s businesses, it is crucial to have some basic knowledge about IoT. The Internet of Things can be defined as a system of devices which are connected to each other. It gives wireless connectivity. Thus, devices at different remote locations can be connected to each other. Users can access those devices and share data with the devices on the network. To understand the usage of IoT technology, you can check some gadgets that we use regularly. For example, many of us have smart kitchen appliances. A large number of people use smart watches which stay connected to mobile devices. Thanks to the internet of things, such smart gadgets and appliances are serving us daily. They are making our life more comfortable.

IoT for Business Processes

We briefly touched upon the implementation of internet of things in smart gadgets and appliances that we use regularly at home or office. Now, the question is how IoT can help the businesses? Well, there are many ways IoT can possibly change your approach for different business tasks. In the following section, those ways shall be discussed. The Internet of things can bring revolution for a business. As a result, the business can be benefitted from different aspects.

According to industry sources, almost 75 billion devices will be connected via IoT by the year of 2025. So, are you ready to adopt the changes for your business? Are you ready to adopt IoT for managing your business tasks? If not, you should check the points that have been mentioned below. It is the right time for your business to rethink the implementation of the internet of things.

1. Managing tasks without human interaction

Already a business can manage a few tasks without human interactions in today’s time. However, it is not enough to reduce the human employees in a business organization. To reduce the number of employees for your business, you need to adopt IoT. With the internet of things (IoT), many tasks can be automated. From office tasks to manufacturing operations, different business processes can be automated with the IoT. Integration of IoT devices to the business process can reduce the cost of operations. Nevertheless, the production process will get more efficient. Human errors can also be removed through automation.

2. Remote business meetings

Business managers often need to travel due to business reasons. As a result, they cannot sit in crucial meetings with the employees. Managing the schedule is always a difficult task for the business managers. Thanks to the internet of things, business meetings have become easier things to be planned for the business owners or senior managers. Through connected devices, business managers can conduct a crucial meeting with employees anytime from any remote location. Managing a business from a remote place was not easy at all in the past. It was almost next to impossible. Previously, people had options like video conference, call conference, etc. Now, business owners have real-time access to all crucial business data and project data at their fingertips.

3. A step towards Green Revolution

Embracing IoT (Internet of Things) is a step forward to support the green revolution. Today, every business wants to become environment friendly. Supporting the green revolution will fetch a good reputation for a business. Nevertheless, it can also help you to gain benefit of tax rebates that are provided by the states to the businesses which support the green revolution. The lighting system of your office and production plant can be managed through IoT. You can switch off the lights from any remote place. Hence, there will not be any wastage of energy.

Lights can be regulated through connected devices on the internet of things (IoT). You can control light intensity, and that will also reduce wastage of energy. Reducing wastage of non-renewable energy is a good thing for the environment. Moreover, it will reduce your cost or expense for the electricity consumption bills.

4. Track & manage inventory from remote places

With the help of connected devices on the IoT, you can track products in your inventory from any remote places. For many retail businesses, the store and inventory are located at different locations. It happens in the case of eCommerce stores as well. Managing inventory at a remote place was a difficult job, until the internet of things has made things easier for you. Thanks to IoT, different devices have been connected together to share data on the inventory items. As a result, retail business owners or managers will have inventory access through a virtual platform. You can check the number of products that are left in inventory. You can mark the products as “out of stock” when the products are not available in inventory.

5. Monitoring equipment

In various manufacturing plants or production plants, different equipment can be found. You need to keep equipment active and running for the production process to continue. To stop production, you should switch off the equipment. Have you ever imagined that you can run and manage equipment at production plants from a remote place? Thanks to the internet of things, it is completely possible today. You can manage your production equipment from any remote places without any issues now. Not just running the equipment, you can get live updates on the performance of the equipment.

You can monitor the performance of the equipment from any remote place. If performance needs to be improved, you can take measure from the remote location. You can call your employees so that human interactions can enhance performance of the equipment. You can also manage the system from a remote place to enhance the performance of the equipment for your production plant. Overall production process will become smoother and cost-effective. Nevertheless, the cost of production can also be reduced as the equipment does not need human vigilance anymore.

6. Interactive product experience for customers

You can provide interactive experience to customers at your retail store. A retail store can completely be revamped with internet of things. With devices connected on the IoT, customers can locate the products at the retail store. They can get product information and specification on the IoT device. Customers can also check the availability of the products. In addition, a guide to the benefits and usage of the products can also be given through the IoT based interactive devices.

7. Know your customers

For a business, it is essential to know the customers. When you know the customers, you can help them to get personalized services. The personalization will help the customers to gain more satisfactory experience. With the internet of things, customer satisfaction can be enhanced meticulously. Customers can easily place their complaints. They can leave their feedback for product or service improvement.

 

These are some of the impacts of the IoT (Internet of Things) for modern businesses in today’s time. In future, IoT shall continue to help the businesses to grow with limited human interactions on the business tasks and production process.

Topics: technology trends, Internet of Things,, IoT, IoT app, Business, Industrial IoT

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