Is your business growing at the pace you want it to? As a business owner or manager wanting to
grow his or her business, there are various considerations, with financials being only one (yet
important) consideration. For example, you may have a company mission, values, and culture that
sets that growth pace. However, financial considerations are also critical, as “profit is to a company
like oxygen is to a human”. What is your growth trajectory? Is it following the market? Let’s look at
some growth rates for various industries:
You will observe a trend for 3 of the top 4 growth industries. They embrace IIOT or Remote
Monitoring & Alerting. The compounding effect on growth is astounding. For example, look at a $1M
business over 10 years. Companies which embrace IIOT have a ten year compounded growth of
90%-330%, compared to 30%-90% for legacy approaches.
What are some reasons for this? What are the drivers separating high growth companies from those
in the status-quo?
No more “I’m better, faster, cheaper”. In other words IIOT sets your company apart with a tangible
differentiator.
Compliance Management. Regulations continue to increase, whether they be environmental, human
factors, or other liabilities, with penalties per incidence in the tens of thousands of dollars or higher.
IIOT provides real-time information enabling the user to make better informed decisions helping to
reduce risk.
Labor Savings. Continuous real time data in the palm of your hand reduced the amount of manual
on-prem intervention. Freeing up these individuals’ time to more important, complex customer
requirements provides a potential 300% return on investment.
