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IoT a catalyst for global enterprises now and post covid-19

Here, Ioannis Koulioumpas, discusses how the current pandemic should increase enterprises focus on implementing IoT.

Ioannis Koulioumpas, Segment Manager, Industrial Manufacturing
Ioannis Koulioumpas, Segment Manager, Industrial Manufacturing
October 28, 2020

During these immensely challenging times it’s easy to feel hopeless about the future. Now, perhaps more than ever before, there is a need for innovative thinking and innovative technology. I firmly believe IoT can help fast-track recovery whilst simultaneously acting as a key enabler for future business success.

In recent months, supply and demand across industries has sustained a massive impact that’s strained manufacturing, operations, staffing as well as entire value chains. Millions of workers are already furloughed, and many more teeter on unemployment.

Undoubtedly, many complex challenges still lie ahead. But if we do cast our eyes to the horizon, and consider how we recover, there are a few hard truths that every business leader and enterprise need to get comfortable with.

First, it’s unlikely that life as we’ve known it, will ever return to “normal” after the pandemic abates. This means enterprises need to find ways to navigate the current crisis while also preparing for whatever the aftermath holds. To a certain extent, that’s what’s been happening.

Across industries, business leaders have had to concentrate on solving immediate challenges to keep their business afloat. For those who’ve been successful, business has continued, although shakily, due to social distancing dramatically affecting operations.

Unfortunately, it’s simply not enough for enterprises and business owners to only contend with what’s happening now. As hard as it seems, they also need to prepare for what the future holds. And that’s where IoT comes in.

Leaders can build business that is future proofed by embracing innovative technology. This strategy increases resilience, protects operations, and supports workers, whilst also helping to sustain a competitive advantage even when economies enter freefall, like we’ve experienced in 2020.

In terms of IoT adoption, prior to the pandemic, many industrial enterprises were exploring the benefits of IoT for their products, offerings and organization. This has been a necessary reactive approach.

In smart manufacturing, for example, the focus of IoT thus far has, generally, been on the remote aspect of monitoring assets and connecting remote equipment in order to deliver, understand and act upon data. But there are many other use cases for IoT which improve other business functions as well. Just take a look at our customer case studies to get an idea of what I’m talking about.

What’s become increasingly obvious, particularly during the recent challenging times, is a need for enterprises to set priorities and identify long-term and short-term strategies related to their digital transformation. In other words, to be less reactive and more proactive.

Right now, the early adopters of IoT are enjoying a comparative head-start over their nearest competitors, even if they must share the same bumpy road ahead. And for those who haven’t yet adopted IoT, many questions remain unanswered. But time will eventually run out and they’ll be forced to adapt or risk being left behind.

If your enterprise is in that position, do yourself a favor and get in touch with me or my colleagues so that we can discuss your situation and needs.

In today’s constantly changing world, one thing is certain: IoT is a vital enabler of business and adopting it now will act as an enabler for future security as well as catalyst for success. That’s a win-win.

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