Seattle, Washington and Noida, India– Aug 23, 2018 – HCL Technologies (HCL), a leading global technology company, today announced the launch of IoT COLLAB, dual-location IoT innovation centres in Seattle, Washington, and Noida, India. Each IoT COLLAB serves as a collaborative incubation lab that lets Fortune 500 companies accelerate IoT initiatives by bringing together technology experts, partners, financial advisors, and other relevant IoT stakeholders to take advantage of what is expected to be a $1 trillion market opportunity by 2021.
IoT innovation labs, such as HCL’s IoT COLLAB, help organizations navigate the journey from concept to full-scale deployment by offering a sandbox environment to expeditiously experiment with different technologies across the IoT ecosystem, leverage the framework to chart out impact on business process and articulate business value, and develop a roadmap to graduate into pilot stage and eventually to full-scale deployment. Participating companies work from a prototype unique to their business models and goals, leading them to modify processes and discover new opportunities through the collection of data produced by IoT endpoints. Tools to simulate multiple end-point devices, gateways, connectivity and data ingestion drive faster time-to-value.
Collaborative efforts already underway include co-created solutions for predictive maintenance, cold-chain logistics, and specialized asset tracking in the aerospace, manufacturing, and medical technology market segments. In one such collaborative approach, HCL is enabling a leading medical technology company to embark on its Industry 4.0 journey and substantially improve OEE (Overall Equipment Effectiveness) across its manufacturing plants by leveraging state-of-the-art sensors, gateways, and machine learning techniques to predict equipment failure and take corrective actions.
“IoT needs a mix of existing and emerging technologies, systems, and standards that are constantly evolving, making the IoT solution implementation process difficult for companies,” said Sukamal Banerjee, Corporate Vice President and Global Head of IoT WoRKS™, HCL Technologies. “Our vision for IoT COLLAB is it to help businesses transform into true 21st century enterprises by co-creating their transformation blueprint and execute it with award winning IoT-led solutions and leveraging our expertise to bring the to reality.”
IoT COLLAB was established to address a void in the market. To this point, an independent survey sponsored by HCL Technologies last year found that 82% of organizations embracing IoT believe they have a stronger place in the market. However, half of the companies surveyed said that they were behind in their IoT implementation plans, with 43% saying that if they fall behind with IoT their customers will be the ones who suffer.
About HCL Technologies
HCL Technologies (HCL) is a leading global technology company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 41 countries and has consolidated revenues of US$ 8.0 billion, for 12 Months ended 30th June, 2018. 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 integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services 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 124,121 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
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
(1) International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide, June 2017.
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