• Ilya Chubanov

How IoT Integration and Transformation Could Reduce Your Business Costs

Updated: Nov 29

Cut the costs and boost your business’s potential with the IoT and Invatechs

You might not realise, but the Internet of Things (the IoT) is already embedded into our everyday lives.

Research has projected the IoT’s ability to reach a value of USD 1,386.06 billion by 2026. It’s becoming essential for transportation companies and localised transportation infrastructures. Beyond its market value and productivity-boosting qualities, it can also reduce and transform your businesses’ costs.

Its potential and scope are genuinely unlimited. That’s why if you’re not leveraging the IoT, now is the time to integrate it into your operations. This article will cover some of the practical, evidence-based ways the IoT could reduce your expenditure. We’ll look at case studies from Invatechs and some of our own IoT portfolio.

We’ll then explore how Invatechs approaches IoT projects with clients and creates the most optimal solution for them. This article is perfect for large enterprises, start-ups and SaaS platforms alike looking to capitalise on the IoT. How are you going to seize this expanding technology and market?

Stick with Invatechs, and we’ll inspire you to truly mobilize IoT’s full potential.


An Overview of the IoT


What is it?

The IoT refers to the networks of connected devices that gather and share data. The devices’ sensors continuously emit data to an IoT platform. The platform provides a common language for all the devices. They use this language to communicate with each other. The IoT’s platform will extract this data, perform analytics and share the information with other devices. These platforms could include the IBM Watson IoT, Google Cloud and Microsoft Azure IoT.


How can it be used?

The IoT is deployed in a number of ways in everyday life. This could be from tracking a parcel on your phone, to smart parking, which alerts drivers about vacant parking bays they can use. The sensors installed and used in devices can range from transportation to social media use. Wearable devices also utilise the IoT. Whether it transmits exercise data to an app or it’s used to monitor a patient’s health. Already, it’s being used across a number of industries, not just transportation.


So, how does it reduce costs?

The IoT is already saving people money in their homes. For example, energy and thermostats that utilise the IoT can communicate to an app when a household uses too much energy needlessly. The app could then suggest cheaper energy suppliers.

Comprehensive research conducted by DHL and Cisco details how businesses have reduced their costs and boosted productivity with the IoT. They describe how, for example, lighting accounts for up to 70% of energy use in an average warehouse. With smart warehouse energy management, you can regulate energy expenditure. Lighting and heating systems monitor a room’s activity. This can have a drastic impact on cutting both overheads and your carbon footprint.

DHL and Cisco predict the IoT could save businesses close to £1 trillion in productivity costs alone. The IoT even improves your internal operations and collaborations. Whether you’re using the IoT for energy, maintenance, security or logistics, many companies stand to benefit.


Invatechs’ IoT Projects

At Invatechs, we’ve helped to boost our clients’ productivity and potential with our bespoke IoT solutions. With the Invatechs approach, we identify our clients’ pain points and unnecessary spending, and work alongside them to build an IoT solution that specifically addresses their needs.

Whether you’re looking for the best cargo and data tracking systems, you’re looking to reduce waste or plot the best routes for shipments, we can help. Here’s how some of our projects have benefitted our clients.



Analytical Satellite Tracking System:

The Task:

• We were tasked with building an analytical satellite monitoring system. This would allow users to track a vehicle’s location through a web app or mobile device.

The Impact:

• Presently, a lot of commercial vehicles are used inefficiently as the owner doesn't have the ability to track its location. Using modern technologies, our system gives such a possibility and helps owners to optimize their business processes.

Partial Discharge Analysis Project for Large Power Storage and Transmission Plants:

The Task:

• Utilise trackers and a web application to monitor and determine the degree of wear and tear on large transformers.

The Impact:

• By introducing more flexibility into the grid, energy storage can help integrate more renewable and distributed energy resources. It can also improve the efficiency of the grid – increasing the capacity factor of existing resources – and offset the need for building new pollution-emitting peak power plants.

Temperature Tracking System for the Transportation of Medicine:

The Task:

• Build a temperature tracking system that can control and monitor the temperature of environments medicines are transported in.

The Impact:

• Monitoring temperature inside the cold rooms helps to ensure the temperature is well in the range of the required temperature. Monitoring temperature helps in the protection of these kinds of products which quality can easily be compromised in high temperatures.

The Invatechs Approach

A quick fix solution isn’t sustainable if you’re looking for an effective, scalable IoT solution. That’s why at Invatechs, we take clients from strategy to development. Once your IoT systems and solution have been built, we continue to offer maintenance support. With the Invatechs approach, you’re guaranteed a sustainable and scalable IoT solution.

Here’s how we take you from concept to launch and beyond.

• Discovery Phase & R&D:

Building and integrating an IoT system and solution is challenging. Different sized companies will have certain budgetary and structural requirements. An IoT solution for a start-up can be different from a larger corporate environment, for example.

That’s why together with our expert Business Analysts, we will define the strategic goals of your IoT solution. We get into the DNA of your organisation, identify your ambitions for growth and work with you to unlock that potential with the IoT.

We’ll also outline the maturity model for your solution and plan for its evolution. We take everything we’ve learnt from the discovery phase and put it to the test with a dedicated R&D session. This helps us ascertain if the solution is appropriate and good enough for your business. From there, we also build a Minimum Variable Product (MVP) to prototype the solution’s efficacy.

• Architecture, UI & UX:

We create a detailed solution architecture designed specifically for your business environment. Data is integral to powering the IoT. That’s why we create systems that can aggregate data from multiple sources.

During the development stage, we build your IoT system iteration after iteration. Adapting it every step of the way to match the criteria we establish in the discovery and R&D phase. This is to ensure it fulfils your expectations and business’s goals.

With mobile and web app development, we build an application that’s best suited for your users. We make sure to build a UI/UX experience that is clear, effective and flexible for your demands. During the development and launch, we’ll provide a full run-down on the app’s usability and troubleshoot any flaws that come up.

• Quality Assurance:

Quality Assurance is vital if your system is to run at its most optimal. By this point, your IoT solution will have been adapted to any new challenges or requirements that appear throughout the development process. Before its launch, we make sure to thoroughly test the system, ensuring that all of the sensors have accurately reported and captured the data across the IoT.

• Launch & Maintenance:

By this point, your IoT solution will be built and ready for launch. We understand that adopting a new IoT system can be incredibly challenging. That’s why we continue to provide maintenance and support post-launch. We stay by your side to help you navigate the buy-in process, help your team get to grips with the system and scale the solution to your business’s growth.



FAQs

  • How many IoT connected devices are there? In 2021, there were a predicted 46 billion connected devices.

  • What is M2M? M2M refers to the technology that enables Machine to Machine communication. M2M refers to smaller scale, isolated sensor systems. However, M2M is still crucial for IoT operations.

  • What popular IoT operating systems exist? Windows IoT and Android Things are amongst some of the popular IoT operating systems.

  • How can the blockchain be used with the IoT? Private distributed ledgers and smart contracts can level up the traceability in your supply chains. Invatechs use their blockchain expertise to elevate supply chain management even further.


In Conclusion – Optimize, Save and Grow with the IoT and Invatechs

From our homes to our global transportation networks, the IoT has profoundly affected our lives. Whether we realise it or not. As this article has highlighted, a bespoke IoT solution has the power to reduce your costs and optimize your business’s operations. With Invatechs’ IoT projects, we’ve created bespoke solutions for several clients.

Each has come with their own challenges and demands. However, with the Invatechs approach, we’ve identified the best systems for our partners. From strategy to development, we’ve built solutions designed to reduce costs and leverage data.

So, whether you’re looking to reduce waste, enhance your analytical metrics or leverage the blockchain, we can help. With our IoT services, we’re committed to creating value for your business. We understand that integrating or building an IoT solution can be a big undertaking. Thankfully, we’re experts in this field.

You can find out more about the IoT over on our blogs page. You can cover everything you need to know about the IoT in more depth. Discover how it’s changing the face of logistics and transportation. Furthermore, you can even learn how we use this technology to build fleet management systems, step-by-step.

Do you want to unlock your business’s potential and slash costs with the IoT? We can help you discover that potential with our fintech expertise. Contact us today and book a free consultation. We can’t wait to make 2022 your business’s best year with the world-changing power of the IoT.

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