Internet of Things in companies: “make it or buy it”?

Develop an IoT solution internally or adopt a ready-made and tested solution?

Choosing between one solution and the other can make a big difference.

The Internet of Things is now one of the most sought-after technologies in companies, because it is clear that the connected and digital product brings with it many advantages, just for the amount of data it allows to handle.

Many are enthusiastically launching into the project of creating IoT in-house, with their own resources, because they aspire to the advantages it offers: smarter, more efficient and personalized products and services, automation of activities, predictive maintenance, operational efficiency. It would be crazy to give up all this!

The awakening, however, is rather abrupt and the problem arises when one impacts with a harsh reality, when one discovers that the costs of IoT are prohibitive, the internal resources insufficient and the path technically complex.

The pressure to remain competitive in the market is pushing many companies to consider IoT, but at the same time it can be very challenging to develop and the fear of a failed investment is always around the corner.

This is why more and more companies that want to exploit all the advantages of IoT prefer to access standardized, ready-made and tested solutions.

This allows them to gain competitive advantages, without succumbing to all the problems that risk causing the project to fail.

IoT for Business: Better to “Buy” than “Make”

Purchasing the technology that enables the Internet of Things in companies is often the smartest move, and the reasons are very obvious:

• Predictable costs
  With a ready-made solution, costs are transparent from the start. Unpleasant surprises or hidden investments are avoided.
• Reduced implementation time
  Skipping the development phase means you can benefit from the technology almost immediately.
• Standardized solutions
  are the result of years of research and development by industry experts. The chances of failure are minimized.
• Ongoing support
  which ensures constant support in managing any problems.

If the prospect of implementing IoT still seems daunting, a ready-made, proven solution can take the guesswork out of it.

Ready-to-Use Software: IoT Benefits for Businesses with Ready-to-Use Software

Let’s dive into some key aspects that can help you better understand how adopting out-of-the-box IoT solutions can minimize the risks associated with in-house development.

1. Minimize technical risks

Developing an in-house IoT solution exposes you to some technical risks: design errors, hardware and software incompatibilities, unexpected events in the integration of existing systems.

A proven solution, on the other hand, reduces these risks because it has already been refined through several other implementations and rigorous testing.

2. Access to specialist expertise

Companies that provide ready-to-use IoT solutions have deep knowledge and specialization in the IT and digitalization sector. Therefore, they do not just offer a product, but also everything that is behind its creation, a wealth of knowledge that can help you handle technology with much more confidence.

3. Updates and maintenance

Another huge benefit of off-the-shelf systems, or plug and play in tech jargon, is access to ongoing updates. IoT technology is evolving rapidly, and keeping up can be challenging. With purchased software, the vendor takes care of the updates needed to ensure safety, efficiency, and compliance with evolving regulations.

Opting for an out-of-the-box IoT solution may seem like a forced compromise for those accustomed to in-house development, but the benefits of reduced risk, access to specialized expertise, and ease of upgrade and scalability can transform this uncertain choice into a smooth ride.

It is clear that the company supplying the product, the software that enables the IoT must be a valid partner, capable of understanding the host context and of proposing a product with a high level of customization.

But that’s not all. It’s necessary to establish your goals downstream by following some steps for a focus as clear and analytical as possible.

 

8 Steps to Understanding How to Get Started with the Internet of Things

Let’s see what steps to take to get started on the right foot.

1. Define specific goals

First, clarify what you want to achieve by implementing IoT. These goals may include increasing productivity, reducing operating costs, improving workplace safety, or optimizing maintenance.

2. Analyze the features offered

Learn about the features of different IoT solutions available on the market. Look for features that directly match your defined goals. Pay attention to integration capabilities with your existing systems, ease of use, and scalability options.

3. Evaluate technical compatibility

Make sure your IoT solution is compatible with the hardware and software your company already uses: interoperability with machines, database systems, and management software. Incompatibility can lead to extra costs for additional hardware or custom software.

4. Consider security and compliance

Security is a critical aspect of IoT. Review the security measures built into your IoT solution, such as data encryption, secure authentication, and compliance with applicable data protection and privacy regulations.

5. Calculate the total cost of ownership

In addition to the purchase price, consider all associated costs, including installation, integration, staff training, maintenance, and future upgrades. This will give you a complete view of the total cost of ownership (TCO) of the solution.

6. Request a demo

Before making a decision, ask vendors to give you demonstrations or trial versions of their system. This will allow you to see the solution in action and evaluate whether it meets your expectations.

7. Read reviews or case studies

Reviews and case studies of other companies that have implemented the solution can provide valuable insights into the vendor’s reliability, effectiveness, and customer service.

8. Evaluate support and training

Good technical support is critical to the long-term success of any technology implementation. Find out if the vendor offers excellent post-sales support and training opportunities for your employees.

9. Look beyond…

Consider your current needs but also how they may evolve over time. A flexible and scalable solution is always preferable to adapt to the growth of your business.

Conclusions

Machine Builders and Production Companies, making the Internet of Things (IoT) accessible to everyone, through a flexible and easily integrable platform.

Our packages IoT they are customizable, designed to optimize production and activate predictive maintenance, ensuring a competitive advantage that translates into more satisfied and loyal customers.

Contact us to find out how Logbot, our IoT solution, works.