As the Internet of Things (IoT) adoption has started to accelerate rapidly, decision-makers have begun to explore its key benefits in enhancing their business performance. According to Gartner, Inc., the Internet of Things market will grow to 5.8 billion in 2020, a 21% increase from 2019. Internet of Things refers to the interconnection of smart devices via the Internet, enabling them to send and receive data instantly.
Those measured data are moving faster inside business funnels as they do not require human intervention. With the integration of IoT technology in organizations, automation leads to a uniformity of tasks. Moreover, Machine-to-Machine communication maintains transparency in business processes.
Like every emerging technology, the Internet of Things is a debatable topic these days. The business environment is not yet familiar with the advantages and the impact that the Internet of Things brings to their operations. The benefits are more especially if businesses empower IoT with an already process automation software such as a BPM platform.
To understand how the Internet of Things reshapes the business environment, it is crucial to realize the benefits which stem from this innovative technology.
High Levels of Integration
Internet of Things is a technology that businesses can easily integrate with other platforms. Many companies are moving towards automation and they have adopted platforms that allow them to automate their operations. Data are useless if a company doesn’t have software that can manage them.
Business Process Management (BPM) platforms are a vital tool for any organization, which brings all data generated from physical objects in a digital workplace. Internet of Things controls the flow of information and sends it to software that provides monitoring and reporting capabilities.
Also, a perfect example of how the Internet of Things brings advancements in a company when it is integrated with a BPM software is the instance of physical devices being connected to a BPM platform with the empowerment of IoT technology. As a result, employees are able to interact with physical devices via a BPM platform. Some of those interactions would be important for the configuration of the device in real-time.
IoT increases the flow of data inside a company. It is predicted that companies that adopt this technology can produce 40% more data than they already produce. This is not only efficient but also saves a lot of time when we need to execute an emergency action, such as quality checks.
The more data and information are gathered, the easier it would be to make the right decision. Those data can be used for marketing or product development purposes or processes optimization when slack times and bottlenecks are identified.
Increasing data traffic managers and business owners are able to get more accurate decisions and frame effective strategies mainly when data are structured inside a software such as a BPM platform.
Although IoT and BPM integration is still in the early stages, it continues to become more frequent and adopted from businesses. As the Internet of Things adapts and grows, businesses need to manage their needs as well as handle decision-making processes.
This enhanced technological business world will play a vital role in how companies operate. Employees will have the privilege to work in a digital workplace with enriched capabilities. As a result, companies will be able to provide services easier, faster and more optimized. The integration of IoT devices and BPM platforms introduces a viable solution for the interconnection of people, devices and systems. People will cooperate effectively in a business place and enhance the quality of operations in many aspects.