What's IoT and Why Should You Care?

We’re living in a world where machines can think and talk. As futuristic as that sounds, the possibilities that go alongside artificial intelligence and permaconnection are profound. This connectivity and modern living happens through a little thing called the Internet of Things.

What is the Internet of Things?

The Internet of Things (IoT) simply involves connecting a piece of hardware to the Internet. Although simplistic on the surface, this connection can spark powerful possibilities. In fact, this industry alone is expected to grow to $832 billion by 2020, according to Business Insider. That’s because the number of cases for this technological connection and the data it affords are growing at an exponential rate.

New doors are opening daily for businesses of all sizes. Here are just a few ways you can use IoT to build your business.

Accept Mobile Payments

Consumers carry less cash now than ever before. Today, it’s all about the plastic payment methods because so many businesses are able to accept credit cards anywhere, anytime. That’s thanks to the IoT devices that plug into your smartphone. You don’t have to take risks accepting checks or rely on customers to carry cash. You can accept payment at the moment your customer is ready to give it.

Add a Layer of Security

Small business owners cannot afford to lose inventory or pay for property damage. Having a security system in place is essential and IoT is making security that much more powerful.

Cameras, smart locks, and smart lighting systems can keep businesses safe from thieves and vandals. You’ll have access to lock your doors or turn on the lights from anywhere, anytime via an app. Or, you can peek into your business whenever you’d like. If you’re on vacation, you can keep an eye on employees. After hours, you can make sure everything is as quiet as it should be while you’re out of the office.

Increase Productivity

There’s a chronic problem among small business owners — not enough time. But, IoT can help you regain some of those precious hours every day by making operations more efficient. For example, using a voice-enabled device, such as Amazon’s Alexa or Google Home can help you cut down on time needed to schedule meetings, order office supplies, or even track usage of machines in your office. The list is endless.

Become More Efficient With the Internet of Things

IoT is making business owners more efficient and more profitable. By being able to accept payments on the go, keep inventory and property more secure, and boost productivity, IoT has helped companies refine operations in a new way. What modern way will you use IoT to build your business?

By Andrew Patricio

November 12, 2018