Page 87 - SAMENA Trends - March-April 2023

ARTICLE SAMENA TRENDS

ecosystem extends, as well as how many One-to-Many Partner Model at developing an IoT ecosystem, they may
links in the value chain they are willing and • Customers manage relationships seek to broaden their web of many-to-
able to connect – such as with technology between partners many partners for a more end-to-end IoT
partners, resellers, wholesalers, etc. • Access providers provide access only offering.
• Revenue potential and offerings are
IoT Partner Ecosystems limited to access This could go beyond familiar CSP
the Critical Link in the Value Chain services to new adjacencies such as
Moving to Many-to-Many with IoT financial services, insurance, logistics and
IoT was described earlier as an architecture, • Products, services, applications, and third-party connectivity. Not only will this
constituting a system of integrated content are all linked to create a richer enable CSPs to maximize IoT revenues, but
elements that use Internet technologies to value chain it creates closer ties with end customers,
connect “things” at scale, from which new • Connectivity becomes a means of which will help reduce churn. All CSPs can
business value can be created. The IoT transportation to deliver high-value, easily aspire for these outcomes, but to
architecture takes the form of a platform, customized IoT services achieve them, IoT needs to be viewed as
which has become the model of choice for • Solving a single use case now involves both a platform and an ecosystem play.
today’s digital businesses. a complex mix of multiple partners
Transforming CSP Operations for
Platforms are a product of the cloud, which Aside from being complex, IoT ecosystems Monetizing IoT
provides unprecedented capabilities to must be built strategically. With an endless IoT initiatives can easily fail, as CSPs will
scale exponentially both quickly and at stream of partners to draw from, CSPs face great challenges in revamping or
little cost, and to bring buyers and sellers need to determine which end customer remodeling their operations. This is where
together in completely new ways. IoT is the gaps and needs can be addressed by IoT, digital transformation plays such a key
ultimate platform by virtue of connecting and then build around that with the right role, and if a CSP is at the early stages
both people and devices, creating orders partners. of its digital transformational journey, a
of magnitude higher points of interaction. major shift will be needed. Aside from
CSPs provide the connectivity that Once built, this ecosystem needs to be the technologies being new and complex
makes all this interaction possible, and actively managed, since new customer to manage, CSPs must have the right
that positions them as an ideal platform requirements will arise as IoT evolves. capabilities in place to effectively monetize
provider for IoT. Platforms, however, are Furthermore, as CSPs become more adept IoT.
little more than a marketplace, and only
have value when attracting both buyers IoT initiatives can easily fail, as CSPs will face great
and sellers.
challenges in revamping or remodeling their operations.
Understanding IoT Ecosystems This is where digital transformation plays such a key
At the heart of any IoT platform is a partner role, and if a CSP is at the early stages of its digital
ecosystem, and CSPs need to understand
the complexity around building this as transformational journey, a major shift will be needed. Aside
well as managing it. The starting point is from the technologies being new and complex to manage,
the need for multi-channel partnerships,
which differs from the linear one-to-many CSPs must have the right capabilities in place to effectively
model from the analogue world. monetize IoT.

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