Most of us have come across the term “IoT” (Internet of Things) by now, but a few are aware of its possibilities and doors that it can open up for consumers and businesses alike. IoT that has been long associated with the smart home concept is fast catching up heat amidst businesses as well, as it can offer tangible and real benefits that go beyond smart homes. Unfortunately, businesses fail to recognise that IoT can play an integral role in streamlining and simplifying day-today business operations.
It is not the ‘sensor’, which makes IoT this cool, but in fact, it is all about providing a holistic experience to the end users. It’s high time businesses and consumers do away with this long-prevailing misconception about Internet of Things and acknowledge its positive impacts. Right from the food we intake to the clothes we put on, IoT is unravelling a new wave of convenience assisting us to optimise on our resources. Here’s why we are crazy about the Internet of Things and you should too:
There’s A Lot to IoT Beyond Fitness Trackers And Bands!
Most of the folks are aware of wearables (bands, smartwatches, etc.) that help track fitness and health status. However, the Internet of Things is driving fitness machines a step ahead by creating tangible and realistic user experiences. For instance, there are indoor exercise bikes that allow users to connect to fitness classes hosted by health experts in real-time. They provide users with access to health instructors enabling them to indulge in competitive fitness sessions right from the comforts of their homes.
How IoT is solving some of the biggest problems for the hospitality sector?
Yes, even hotels are catching up on the IoT heat, as many are offering their guests with connected exercise bikes eliminating the need to head down to the hotel gym. This excellent move can help a hotel stand apart from its competitors in terms of providing premium experience to the guests. Further, the connected bike’s ability of importing data from the wearables means that the guests can receive real-time health metrics.
Cutting Down Operational And Admin Costs:
Taming operational costs whilst improving return on investment (ROI) is what every business dreams of. This often turns a nightmare for a business particularly if it fails to manage machinery and manpower costs properly. Internet of Things can be of great help here, here’s how:
For instance, when we can easily share business documents from our computers to smartphones then to the printer, you tend to get things done in a much faster way. Also, you cut down significantly on admin costs. In addition, with the help of improved and connected -devices, you can get rid of intermediaries as well. You get to execute direct transactions. Long story short, letting the machines do it for you will help curb unnecessary operational expenses to a great extent.
Mobile/Digital Payment Is Fast Becoming The New Normal!
Today, businesses get to leverage a number of mobile/digital payment options. It is certainly a smart solution if your clients and you are busy to meet personally. It saves a great deal of time and processes payments much faster. Yes, with the help of IoT, your customers can pay you directly irrespective of where they are and you can get the money in a relatively shorter period.
Worried about security? You don’t have to be, as there are a number of security measures that help to safeguard your finance. Bid adieu to the long queues at the bank and the time-consuming check payments. Also, startups can save a fortune here by averting the fees bank levy on them.
Artificial Intelligence (AI) As Customer Support!
Why have a customer support crew to respond to customer queries when your business can have AI technology work for you?
AI-powered chat support can converse with your clients in real-time and much faster assuring that your clients don’t have to wait long to get their queries resolved. For a small business or startup, this is a boon when it comes to finances.
How IoT Can Change The Game Of People Management?
We live in an era where almost every employee walks in at work with high-speed internet in his/her fingertips. Yes, we are talking about smartwatches, smart bands, smartphones, tablets, etc. This indicates a highly connected staff for every business. Further, cloud technology makes it easy for these smart devices to share data. IoT though a novel tech phenomenon can efficiently connect and communicate everyday devices via Internet and this is where HR leaders and managers need to spare a thought.
For example, the Internet of Things can assist a company’s project planning tool to effectively communicate its hiring needs to the hiring department. Skills and job experience of potential candidates can be automatically matched with the requirements and new hires can get their offer/call letters directly onto their smartphones.
Also, the real-time information provided by IoT and connected devices could help a business optimise and manage its staffing needs. For example, employees working on a particular shift can be notified via a text message reminding them when to clock out. Similarly, the HR can keep a track of clock in and out times of the staff leading to accurate payroll calculations. You just have to complement your connected workforce with a time tracking software.
It is not about the latest gadget or device, in fact, it is all about integrating technology in our day-to-day lives. It is about creating a wonderful user-interface in terms of both design as well as usability. In simple words, IoT is about making lives better and the opportunities are limitless. Every industry stands to reap the benefits. Though the Internet of Things is a long voyage, it is thus advised to stride ahead with small steps.
Last but not the least, IoT is here to ease the load and keep operational costs down. It can aid to bring folks together to be more productive.
Guest Author: Anwar Shaikh writes about enterprise management, human resources management, technology, business intelligence and analytics software that include CRM, ERP and payroll solutions. A self-made and reared up writer, Anwar writes for Pocket HCM, a leading provider of cost-effective and user-friendly cloud HRMS software.
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