The Internet-of-Things (IoT) has become beneficial for large and small businesses alike. However, the Internet of Things has given small businesses and startups an advantage over larger competitors, and here’s how…
Increased Efficiency With Fewer Employees
Increasing productivity is a constant struggle for small businesses. Less money for salaries means fewer employees, which can lead to less output. However, when IoT steps in, it allows small businesses to automate their production and supply chains for far greater output, making the most out of the existing employees. IoT can make almost every system function handled by a human possible with a digital helper instead. And all of it can be controlled remotely.
Faster Access to Useful Data
When it comes to small business, the focus leans heavily to the service side. And that means data and information are premium. Because most small businesses rely on humans to input & recall important data, the process can be slow. People become the bottleneck. When you replace those roles with IoT tools, you free up people from these menial tasks, and the small business can realign its people in high productivity roles.
Waste and materials loss happens naturally. And it builds up over time. The loss can be in the form of fuel, energy, utilities, travel, fees, and more. With the IoT in play, miscellaneous expenses that use up a large percentage of a small business’ budget can begin to shrink dramatically. Just think about how much money is saved in vehicle fuel alone if one doesn’t have to run around from location to location to check on processes and activity. That’s the kind of funds that can be redirected into more critical expenses that produce new income versus being necessary cost losses.
Offer a Different Range of Products or Services
Finally, because small business doesn’t have to be tied up with the logistics and sunk cost necessities of above, they have far more ability to be diverse in services. Again, being freed from activities locked into a ratio of required personnel being present allows activities to occur via equipment controlled remotely. Freed up funds from automation allows small business to reinvest more and create more products and services for customers, offering a more robust delivery to the market and diversifying their market base far more. That, in turn, creates more stability and increases the chance of business long-term success. And most notably equipment being able to gather and transfer data and information far more accurately and automatically gives small business far more information to work with, improving their operations overall and around the clock.
At SOLTECH, we’ve built custom software for businesses of all sizes, for nearly 20 years. if you’re looking to streamline your small business, our developers are ready to take on your next IoT project! Reach out to us!