How the Internet of Things (IoT) Can Revolutionize Your Business
Embrace Workplace Evolution Using the Latest Emerging Technologies
IoT, or the Internet of Things, refers to everyday devices capable of sending and receiving information through a connection to the internet. Regardless of the size or sector of your business, leveraging IoT and Digital Transformation can help you create efficiencies, drive business growth and enhance your organization’s bottom line.
CDW Canada’s most recent trends report, How IoT is Maximizing Operational Efficiency in Canada, reveals how organizations of all sectors and sizes are benefitting from implementing IoT and emerging technologies within their organization and how these are helping them achieve their business goals.
The State of IoT Adoption in Canada
Our survey found that nearly all (96 percent) Canadian organizations value IoT and emerging technologies, yet more than one-third (37 percent) are not adopting them. The top three most invested emerging technologies included Artificial Intelligence (60 percent), IoT (59 percent) and Business Process Transformation Tools, such as ServiceNow (58 percent).
When it comes to the adoption and investment in IoT, the financial services sector leads the way with nearly three-quarters (71 percent) reporting their organizations have adopted these technologies. In comparison, overall adoption of IoT and emerging technologies in the healthcare sector were the lowest across all industries (39 percent), citing budget (55 percent) as a key barrier to adoption.
The Values and Barriers of IoT and Emerging Technologies
Our survey found that there are many perceived benefits to investing in IoT and emerging technologies, including operational efficiencies (76 percent), increased data/information availability (70 percent) and improvement to customer experience (68 percent).
Despite the numerous benefits of IoT, many organizations still face challenges when it comes to its adoption and maintenance. The top risks and challenges organizations have experienced related to IoT include increased security threats, such as cyberattacks and ransomware (64 percent), technology failures (61 percent), maintenance requirements (54 percent) and increased dependency on technology (48 percent).
While organizations are well aware of the importance of IoT implementation, many are still hindered by various factors that prevent them from investing in it. Our data revealed the biggest barriers to adoption include IoT not being a company priority (57 percent), lack of budget (34 percent) and lack of employee expertise/talent (30 percent).
How an External Third-Party Partner Can Help
Regardless of industry, it is important for organizations to continuously evaluate and optimize their security posture. A key component of this is ensuring their IT team has the tools and knowledge needed to troubleshoot any technology challenges and risks they may face. Partnering with an external third-party IT partner with a fulsome scope of IoT and security capabilities can help alleviate internal pressures and ensure a successful and smooth digital transformation.
CDW’s team of experts can help orchestrate a successful digital transformation strategy so you can focus on other parts of the business. Having a clear digital transformation strategy can help your organization leverage and maximize the benefits of IoT and translate those into large and scalable returns. We’re here for you.