Digital Republic IoT Business Suite for
Smart Product Manufacturer and Service Provider
The Internet of Things, digitising and connecting the physical world, has received enormous attention during the last few years. The ability to monitor and manage objects makes it possible to arrive at data-driven decisions. Companies that use IoT in novel ways to develop new business models or discover ways to monetise unique IoT data are likely to enjoy more sustainable benefits.
We enable the transformation from one-time and product-based, to a recurring and service-based business model.
With the advantage of IoT Business Suite, Digital Republic provides the ability to rate, charge and bill for digital services across today’s connected world, helping businesses to monetise the IoT revolution.
Subscriptions & Services for Things Economy means for you…
Unique Customer Experience
Anytime, Anywhere & Real-Time
The ‘Recurring’ Opportunity
Connecting a device brings a potential for new recurring business models and services such as Product-Feature as a Service, Pay per Use, Add-on and supplementary Third-Party Services, Product as Point of Sales and many other possibilities and combinations.
It is also possible to offer and activate built-in features as a subscription later on. This can considerably simplify production with different product variants. The user can decide on-demand which functions he or she wants to use.
Don’t struggle to transform and enter into a World of Services.
As the IoT becomes increasingly sophisticated, ‘As a Service’ business models are getting more complex with regard to multi-tenancy billing, cross charging to other accounts, usage based charging billed to a third party, etc. New policies, processes, and systems are required to track, invoice, bill and collect on a recurring basis. IT, Finance and CRM systems must be reconfigured or customised for recurring billing.
How do you price hardware versus services? How do you bundle for different categories of buyers? How do you innovate faster than the IoT market? Don’t worry. With the IoT Business Suite from Digital Republic, you’ll nail it.
We help you to launch Subscription-based IoT Products quickly and at low Cost. The Digital Republic IoT Business Suite provides the complete BSS stack and more for a unique customer IoT experience.
Business Model Opportunities
According to forecasts from different research companies, consumer IoT connections will grow much faster than other IoT applications. By combining B2B, B2C and B2B2X models the manufacturers of IoT enabled devices will obtain the chance to provide a complete product and service transaction.
Digital Republic IoT Business Suite delivers all the business processes and capabilities to launch any IoT relevant business model with ease and get it to market in an incredibly short time.
Multitenant and reseller capabilities make it possible to simultaneously serve multiple business customers and operate different business models on a single IoT Business Suite instance:
Monetising Consumer Connectivity with M2M Data Buckets
One of the challenges in cellular networked products is the cost of connectivity, which has to be included in the product for the markets over the lifecycle of the product. As a result, although the product is connected and smart, it increases the sales price and makes it more difficult to compete. Integrating the IoT Business Suite with the M2M Connectivity Management Platform enables the offering of Data Buckets and Connectivity on Demand for consumers. This helps manufacturers to offer a complete product to their consumers with a SIM-based connectivity solution including branded and user-friendly web cockpits, e.g. Internet in the car products for WiFi and infotainment applications.
Product as a Service / Leasing
Connecting a device has the potential for new recurring business models and services. Instead of the full one-time price, the consumer pays for the connected product with a subscription. Large Enterprises like General Electric and John Deere have been early pioneers of the product as a service business model. IDC Manufacturing Insights estimate that 40% of Top 100 discrete manufacturers will provide product as service platforms by 2018
Knowing the geographic location and availability of a device allows you to share the device with interested parties. The usage is billed according to the duration or quantity and the revenues are distributed to the respective parties via IoT Business Suite billing module according the agreements.
Pay per Use
The IoT brings the possibility of measuring the usage of a device. In a pay-per-use business model, the use of a product or service is measured, and customers are charged when they use the service. This can lower the acquisition cost and enable sustainable recurring revenues. The usage data can be determined via the IoT application, evaluated with the Rating & Pricing Engine of IoT Business Suite and settled directly with the consumer.
Product as Point of Sales
Measuring the use of a device also brings knowledge of the need for complementary goods such as washing machine tablets, coffee capsules, tyres or even insurance. The placement of suitable offers at the right time brings with it a large increase in sales potential. If services are offered by third parties via the networked product and purchased by consumers, IoT Business Suite ensures the correct and transparent distribution of revenues according to defined criteria.
Feature as a Service
Manufacturers often struggle with the complexity of different product variations and the inability to monetise future software enhancements of features. By offering features as a Service the customer could profit from a lower acquisition cost and the freedom to use the product according to their current needs. At the same time, cost of production can be reduced by only building one model. In addition, existing or new features/upgrades can be offered in a freemium/trail model to raise conversion rates.
Enabling IoT Business Models beyond the technical Stack
Our unique Offer for Manufacturers and Service Providers will help you to focus on your core competencies, without compromising.
IoT Business Suite
An emerging path toward monetisation is enabling both stakeholders in the IoT ecosystem and consumers, by applying a scalable, open, agile and flexible framework. Digital Republic IoT Business Suite provides the complete BSS stack and more for a unique customer IoT experience.
- Categorises every customer interaction and document
- Multi-channel capable (online, telephone, e-mail, SMS, fax, letter) with support for current technologies (click-2-chat, click-2-video, knowledge-base) highly configurable and customizable
- Supported by the integrated workflow module
- Modelling of any product and subscription structure
- Modelling of promotions and trials
- Fully configurable: add new products and subscriptions without development effort
- The central data source for all incoming orders, provisioning and invoicing
- Highly scalable rating engine (optimized for IoT applications)
- Integrate any M2M/IoT Platform and rate CDR’s (call detail records) or other usage information directly from the M2M connected devices
- A reliable rating engine is a key component for the creation of accurate invoices.
- Integrated billing and accounts receivable management solution
- Multi currency capabilities and compliant with tax regulations
- Flexible and expandable based on customer-specific requirements
- High level of performance and scalability – proven in practice
- Genius and generic solution for mapping complex business processes
- Enables maximum automation
- Each manual interaction clearly defined and controlled
- Comprehensive, transparent, clear and reliable
- All modules are Multi-tenant capable
- Reliable reseller integration (separate user interfaces with own workflows)
- Enabling secure data sharing across multiple parties
- Highly customisable (for each tenant)
- Powerful reporting module
- Linking and evaluation of all data in the system
- A transparent and high-performance data model makes the work straightforward
- All relevant data can be made available to DWH or Business Intelligence solutions at any time
- Unique solution for the implementation of interfaces to other systems
- Latest technologies (EAI message queues)
- Fast, cost-effective, reliable and flexible
- Many standard interfaces available (e.g. OSS, M2M or IoT platforms)
For Manufacturer & Service Providers
- Enabling new business opportunities and revenues with B2C, B2B and B2B2X business models around the IoT
- Fast time to market with a complete BSS platform with ready to use API’s and user interface
- Scalable, secure, open and flexible SaaS solution without infrastructure requirements and low TCO
- High-performance rating and billing engine designed to scale for millions of customers and devices.
- Multi-tenant enabled for versatile integration with various partners and stakeholders
- Effortless project coordination – agile and result-oriented way of working helps to focus on core business
- One point of entry for all smart products and services including historical usage reporting
- Easy and user-friendly access to the accompanying services of the smart product
- Empowering and encouraging the user by giving full cost control for all related services
- Secure and convenient payment and authentication services for trust building in the user experience
- Access to the cockpit and control of the services – anytime, anywhere and on any device
- Confidence-building effect through recognition of the brand and increase in brand awareness