Vodafone has for the second year carried out a survey of executives globally across industries on M2M adaption in companies. As I work with strategy and business innovation in the connected world there are several interesting findings in the report.
The most important result according to me is the ROI outcomes from launched projects where it shows that 89% of companies have a ROI in less than 2 years (66% within one year) which I believe is extremely good. I think that the most common problem that companies that I talk to are struggling with are finding one business case to motivate the investment so this will help.
The second most important finding is that greater competitive advantage has rise to the most important benefit from an M2M solution. This understanding out in the companies are very important to stay competitive and make the right investment, otherwise they will be passed by competitors that understand this.
The third and last takeaway for me is a confirmation that there are certain criteria's that helps in delivering a successful project which the report calls "Business readiness parameters". Companies strongly agreeing with the parameters below have a more than 20% increase in the experienced benifits from the projects.
- “My company is well-organised and efficiently run, everyone pulls in the same direction and we have a clear view of our progress.” In other words, the organisation has effective process and strategy.
- “My company is customer-centric, embraces change, is open to new ideas and values its people.” In other words, the organisation has an adaptable culture and workforce.
- “We have modern IT and communications that are fully integrated, flexible and secure with well-managed service levels.”
- “Our IT enables mobile working, collaboration, multi-channel customer engagement, makes full use of business information and exploits advanced connectivity.” In other words, the organisation is a leading user of technology generally, not just M2M.
I fully agree with the parameters and for many traditional companies they are a true challenge! Especially the point "customer-centric" that many companies claim on paper but when looking at it with open eyes most companies are very internally focused.
All pictures are from https://m2m.vodafone.com/cs/m2m/insight_news/2014-07-02-the-m2m-adoption-barometer-2014