Noida, India – 7th March, 2017 – ‘IoT WoRKSTM by HCL’, the Internet of Things (IoT) business unit of HCL Technologies, announces the launch of IoT Maturity framework titled, “IoT Maturity: Bridging the Gap Between Devices and Value”, as seen in MIT Sloan Management Review. This Executive Scholar Exchange (ESE) provides a roadmap for large enterprises for IoT–led business transformation and how to exponentially increase the value derived from IoT investments. Among the key findings of this framework are the three stages of enterprise–IoT maturity:
- Maturity level 1: Process efficiency using IoT–enabled data
- Maturity Level 2: Building new revenue streams
- Maturity Level 3: Business transformation leveraging IoT data–led insights
The Executive Scholar Exchange (ESE) describes how moving across different levels of maturity requires an IoT platform at the core. To that end, defining the right IoT platform strategy remains the key. The IoT platform can integrate with enterprise IT & OT systems and centralize data from all instrumented assets, making data visible to key stakeholders so they can make better, faster decisions. In addition, it provides the flexibility to modify the services needs over a period of time as the business needs change and evolve.
“Realizing value through the Internet of Things may begin with simple goals, but it can catapult a business towards new horizons. Full IoT maturity depends on cross–organizational commitment to identify new revenue sources, spurring innovation, investing in supporting technology and nurturing relevant skills,” said Stephanie L. Woerner, Research Scientist, MIT Sloan Center for Information Systems Research. “The level of commitment to completing the journey depends on organization’s willingness to translate threats into opportunity by finding new sources of revenue in the face of changing industry trends, turning to innovation, investing in partnerships or acquisitions in case there is lack of capabilities in any specific area and finally ensuring organizational readiness.”
“Many companies have made inroads into use–case based IoT projects, but very few have embarked on transformative programs. It is only by doing so that these firms will reach the intended IoT goals of efficiency, profitable business models and gaining a competitive edge,” said Sukamal Banerjee, CVP & Global Head – IoT WoRKSTM, HCL Technologies. “Defining the IoT platform strategy is the inflection point and there are four key components while choosing the right IoT platform – security, data analytics, scalability and agility.”
This Executive Scholar Exchange carries insights from a recently concluded, first–of–its–kind Global IoT Survey 2017, commissioned by HCL Technologies, that captures the challenges and journey of early enterprise–wide adopters of IoT. The ESE articulates how enterprises can link IoT data with mobile apps and real–time analytics to drive faster decision–making and boost revenues.
Enterprises today are seeking transformative value of IoT beyond use–case based IoT projects. This paper provides a blueprint towards driving real business outcomes. To read the full report please click here.
About IoT WoRKSTM
‘IoT WoRKSTM by HCL’, the dedicated ‘Internet of Things’ business unit of HCL Technologies, enables organizations to leverage best–in–class IoT solutions for maximizing returns from their asset investments and create entirely new services that deliver measurable business outcomes. IoT WoRKSTM offers end–to–end IoT services for organizations across the three phases – Define, Build & Run, to help design enterprise IoT programs, develop and implement IoT systems for realizing business value. Recognized as a market leader in IoT by independent analyst firms, IoT WoRKSTM continues to strengthen its leadership position in fast growing global IoT services market. For any further info, please contact: firstname.lastname@example.org
About HCL Technologies
HCL Technologies (HCL) is a leading global IT services company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 32 countries and has consolidated revenues of US$ 6.7 billion, for 12 months ended 31st December, 2016. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCETM Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented services such as Digital and Analytics Services (BEYONDigitalTM), IoT WorKSTM, Cloud and Security, utilizing DRYiCETM Orchestration to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business.
HCL leverages its global network of integrated co-innovation labs, and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail CPG, Life Sciences Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government. With 111,092 professionals from diverse nationalities, HCL focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com
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Sumit Ranjan Aggarwal