Businesses that have their sights set on the internet of things (IoT) are seeing strong results with the adoption of connected systems. In particular, vertical-specific IoT systems have gained momentum. Industrial and consumer-focused IoT systems are gaining traction as well, and service providers are working on use cases to build applications that fit both markets.
Recognizing that the IoT market is evolving and growing at a steady pace, ISG participated in HCL’s IoT NXT Summit 2018, a daylong event at the IoT COLLAB, a collaborative center of excellence in Redmond, Washington, managed by global IT service provider HCL deploying technology and solutions from partners such as Microsoft, PTC among others.
It was incubated in 2015 with the objective of helping clients transform their asset value chain. IoT WoRKS™ has worked with 50+ Fortune 500 companies to build and deploy multiple solutions for track and trace, predictive analytics of remote assets and smart wearable products for safety. IoT WoRKS™ now helps clients develop and implement comprehensive IoT platforms and offers standalone consulting and end-to-end IoT products. HCL also manages implementation, technology integration, execution and managed services for its clients’ entire IoT ecosystems.
IoT WoRKS™ has been a significant growth area for HCL since its inception in 2015. The company expects the division to grow at a rate of 35 percent annually over the coming years. HCL has evolved and enriched its IoT offerings since the company started its journey working with clients, applying what it has learned, scaling to add value to its existing clients and understanding the objectives of its new clients. To this end, HCL IoT WoRKS™ has developed more than 30 IoT solutions across functions and verticals, including aerospace, manufacturing, life sciences and healthcare, energy, utilities, transportation and logistics and other industries.
HCL has been a leader in driving digitization as part of its portfolio of offerings, leveraging its strong engineering services heritage, application and infrastructure services, and portfolio of IP and accelerators including HCL's automation and orchestration platform DRYiCE™. The company caters to many buyers across operations, supply chain, services and support, product development and other functions.
HCL has shortened its learning curve with clients, customized its services to their needs and set new benchmarks to increase its offerings. HCL continues to increase the number of delivery locations outside India – which includes ramping the workforce in the United States – and has the highest revenue per employee in the industry. HCL IoT WoRKS™ has grown by more than 60 percent in the past two years. With more than 75 clients and 100 projects around IoT, HCL offers services for a number of verticals and across geographies.
At the IoT NXT Summit, HCL’s clients shared their IoT experiences and presented interesting perspectives on their scope and implementations, including how they are continuously working to enhance additional features and innovate different ways for adding value to their businesses. One interesting case is in the restaurant business, where HCL’s “internet of kitchens” helps clients create a sustainable aftermarket services revenue stream and improve food service while keeping track of equipment needs.
HCL’s IoT COLLAB walkthroughs demonstrated solutions across healthcare, aerospace, utility and manufacturing industries. HCL also explained how it is collaborating with partners like PTC and Microsoft to create enterprise-ready solutions.
HCL’s Lab 21, which started earlier this year, promotes research and solution development around the Microsoft AI platform. In Lab 21, projects start with brainstorming discussions and supports development all the way from the initiation to the implementation phases in partnership with Microsoft. These partnerships lend important credibility to HCL.
It is important for enterprise clients to understand how their implementations support their business goals and how providers like HCL can accompany them in their digital transformation journey. By understanding their clients’ investments, revenue models and support needs, IoT service providers can focus on providing the right mix for their clients. HCL is investing significantly in digital and IoT, leveraging an ecosystem of partners and solutions. Enterprise clients should be on the lookout for this service provider’s growing offerings and their impact on the industry.