How to unlock new business models using the IXON Cloud
New business models for Industrial IoT
As a machine builder or system operator, you're constantly under time pressure to build, service or maintain your industrial machines. In these revolutionary times of Industry 4.0 and upcoming industrial trends like IoT solutions, you need to quickly stimulate innovation and digitalisation.
While this could be very complicated, solutions like IXON Cloud can make things easier for you. Get started today with a cloud-based IoT platform and integrated connectivity to your machines, keep up with new business models and you'll generate ROI in no-time.
Keep reading to find out 5 ways you can implement new IoT (internet of things) business models and make money using the latest industrial innovations.
Maximise service flexibility and set up a data strategy
When you're testing machines for delivery, performing recurring maintenance or providing emergency support, you need quick access to your machine's control system. So you can find and solve the issue, deploy new and improved software and reduce (unplanned) downtime.
Maximising your service flexibility is unthinkable without industrial remote access. Secure web-based access to your PLC or HMI – from anywhere on any device – will save time and costs for on-site support. It opens the door to new possibilities, such as upgrading your SLA agreements and taking your machine service to a higher level. Upgrade your services with faster response times and reduce costs for travel. Customers benefit from better service while you reduce useless costs and time by providing highly efficient support.
Collecting and storing machine data is an integral part of Industry 4.0. How and why to implement machine data in your business strategy is, however, still unclear to most. The most important aspect is to set up a data strategy that allows the creation of new revenue models. Such as monitoring your machines to predict upcoming maintenance or calculate usage reports.
5 ways to implement new business models and make money from Industrial IoT
1. Predictive maintenance for scheduling and upselling
Use machine data to prevent or predict when your service engineers need to perform maintenance, allowing you to upsell spare parts and prevent unplanned downtime. Logged data checks the machine's state (e.g. temperature, sensor state or production hours) and helps you predict when to replace parts. With alarming triggers, you avoid the need for manual data monitoring to plan when maintenance should be provided.
2. Provide a company-branded IoT platform for your customers as a new business model
Add value to your company's brand by delivering a custom web-based IoT portal where your customer can access and monitor their machines from anywhere. Make it simpler, safer and more transparent for your customers to access their machines.
Stop developing Industrial IoT platforms by yourself – use proven standards such as IXON Cloud. Ready to use in minutes. Using the knowledge and platforms provided by Industry 4.0 experts will shorten your time to market, save R&D costs and expensive training for your engineers. Just focus on what you're good at - building machines and delivering top-notch service to your customers.
3. Consulting and advising customers for improved performance
Visualising collected data in a machine dashboard creates valuable machine insights. Like a productivity overview, amount of waste, machine operating hours. Your customers may require different insights, so provide them with their very own dashboards with only information that's valuable to them.
Consult your customer on how to upgrade the machine's performance with actionable machine insights. It creates opportunities for training or consulting and leads to better customer experience.
4. IoT subscription model for machine insights
Set up a subscription model to provide your customers with live and historical machine dashboards. Make it easily accessible, user-friendly and informative. To satisfy various needs, you can even provide different dashboards for management, production and service. Supply your customers with valuable machine information that they can't go without.
5. Pay-per-use model for lease or rental machines
Machine data is essential when introducing a pay-per-use model (also known as Machine-as-a-Service). Depending on the leasing contract, machine usage usually needs to be calculated when you lease or rent machines instead of selling them. Use a dashboard or notifications to generate insights when a set limit has been reached or calculate costs based on the machine's usage.
Want to learn more? In this blog we've listed four opportunities for machine builders on how to increase revenue with digital services.
How the IXON Cloud is designed to help you implement these new business models
Benefit from the power of IXON Cloud. Built for machine builders, system integrators and building automation to deliver better service and machine insights. Step into the world of industry 4.0 in no-time and implement new business models to increase your revenue potential.
IXON's all-in-one solutions combines connectivity and the cloud. The industrial VPN router connects your machines to your company branded IoT portal in minutes.
- Create your own company SaaS platform in IXON Cloud and invite all your customers. Just register your company and apply company branding with logo, colours and premium branding features.
- Work remotely through your own portal and securely connect to your machines. Easy configuration and fast ROI – saving expensive travel costs & time.
- Collect and store the machine's data using Cloud Logging and create stunning dashboards for your customers or service team.
- Inform service engineers with alarms and stick to your SLA agreements using Cloud Notify.
- Save R&D costs using IXON's existing, high performance and secure cloud platform. Maintained, secured and continuously evolved by our in-house IIoT specialists. No coding or recurring costs for cloud environments needed (such as Azure, AWS or MindSphere).
Discover the power of IXON’s all-in-one solutions
Experience for yourself why 1.000+ machine builders chose IXON's Industrial IoT platform and benefit from new business models.
In an online demo you can explore the advantages of IXON Cloud. Just sign up and in 30 minutes you'll know how to keep up with the industry 4.0 revolution.
or request a 30-day free evaluation kit.