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How can SMBS Benefit from the Internet of Things tech?

Internet of Things

Internet of Things is a fascinating new area of technology that has a lot of promise. It is already being used in industrial settings, but is also becoming more and more utilized in customer-facing businesses, and also in office settings. We spoke with TechQuarters, an IT partner that offers business IT support London based SMBs have been using for more than a decade. They gave us insights into how SMBs can benefit from utilizing Internet of Things technology.

Cost reduction

There are many ways in which IoT can help businesses become more cost-effective. For example, IoT devices can be used to monitor business equipment, ensuring they are running efficiently. TechQuarters also described how, in their IT support for small business, they implement IoT technology to monitor their customer’s network equipment. Troubleshooting is performed more quickly and efficiently when IoT devices are implemented into a business’s IT infrastructure – this can reduce downtime, and by extension make operational costs more effectively.

Efficiency and productivity

A great way SMBs can utilize IoT technology is by cutting down on repetitive and time-consuming tasks. There are many ways in which IoT technology can be used to automate common business tasks and functions – therefore it can free up the time of employees. Additionally, IoT technology can help to optimize things like the office floor plan, printing and copying machines, and WiFi. It can also help to provide insights into employee productivity and efficiency, identifying when users’ most productive hours are, and suggest insights into what heightens or impedes productivity.

Revealing business opportunities

The amount of data produced by IoT devices is immense, and being able to drill into that data and make insights into it can help reveal business opportunities that may have previously been hidden to a business. Some studies even suggest that up to 36% of companies are considering new directions due to the influence of IoT solutions.

IoT technology has the ability to establish connections between products, services, and customer behavior. This in turn helps business assess their products and services, and adapt them to better meet customer behavior.

Customer experience

IoT is becoming more integrated into the customer-facing side of businesses. Usually, it is best utilized in the back-end of business processes. However, it is proving to be a powerful tool in sectors such as retail, as it can enhance the customer experience. For instance, in the UK, businesses such as Sainsbury’s and Co-op have integrated IoT to enable users to scan and pay for groceries with their smartphones, thus streamlining their shopping. In other areas of retail, such as fashion and clothing, some retailers have implemented smart fitting rooms to enhance the customer experience, and thus competing with online shopping.

Hybrid working

TechQuarters has been helping businesses adopt hybrid working practices with the help of their London IT services, and they have said that IoT can also be implemented to help manage these new work models efficiently. For instance, implementing IoT technology in the office, as well as across the devices of remote employees could help assess the balance between on-premise work and remote work. This in turn can help businesses make decisions about how to optimize the use of their on-premise workspaces. If, for example, businesses have rotas for employees that split their time between home working and the office, IoT can help analyze individuals’ productivity trends to create rotas that reflect the times and places that employees are most productive.

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