Michael E. Porter on "How Smart, Connected Products are Transforming Competition"

In the November 2014 issue of Harvard Business Review there is an article titled “How Smart, Connected Products are Transforming Competition” by  Michael E. Porter and James E. Heppelmann.

This is a great article - an eye opener to understand the industrial revolution in front of us and where the money in IoT is.

We’ve talked about IoT and M2M for quite some time now,  and as a legacy software provider for TR-069, Axiros has been around now for over 10 years providing solutions to the equipment and telecommunications industry. This past year has put us at a crossroads: and we have seen that there are multiple paths forward.

The authors state: “In many companies, smart, connected products will force the fundamental question, ‘What business am I in?’” At Axiros, we ask our customers this daily. We challenge the future of the connected world to keep our customers ahead of the competitive curve.

Service providers will no longer offer just data or voice.  Remember when “triple-play” was a big deal? Now the laundry list of service offerings will span a couple of pages. They will (have to) offer healthcare and home security services. Fitness and safety. Tech support and home maintenance.

Utility companies will no longer just deliver power – they will be a one-stop shop to all things digital. Look at Axiros’ customer Lyse Smart – they have a drastically different business model in the Nordic region – and it is working!

Equipment manufacturers will offer value-added services to enhance their product offerings. Retail will change overnight. We believe that service contracts will become a major part of consumer buying behavior.

Our role in all of this is to manage all these devices and networks so everything works seamlessly and effortlessly. When you plug in a new connected widget, it knows its role. Provisioning, troubleshooting, support, updates and management all happen with Axiros’ assistance behind the scenes – we keep the chaos out of your network. We work with our customers to help them reinvent and stay ahead of market needs.

If you want to find out what the future will hold, talk to Axiros!