Next month I have the opportunity to speak at WeDo’s inaugural North American Enterprise Business Assurance Conference, WDC@WDC. While pondering the key issues facing the Revenue Assurance and Fraud Management community and planning my subject matter during a long drive to Las Vegas for CTIA, I happened upon a radio feature on connected devices – already quoted as standing at 10 billion. This got me thinking.The fact is that this number is going to multiply tenfold in the next two to three years, begging the question for any company whose revenue could be in some way related to the new connected world we’re entering into: “Are we really ready?”
Now that connectivity is introducing new elements of commerce to everyday objects, from cars to energy meters, the concept of the Internet of Things (IoT) is slowly but surely becoming the norm rather than a nascent technology that we’ve long dreamed about. Indeed, the connected world is going to be here a lot sooner than we realise – and, although it’s something that the tech / mobile industry and consumers have been eagerly anticipating for some time, the reality of whether we’re ready to embrace and make the most of it from a revenue perspective is probably quite different. It’s something that offers immense opportunity, but is simultaneously quite a frightening prospect.
Driving different behaviours and dynamics across business, the IoT will bring with it a whole new set of challenges and disruption, especially when considering the backdrop of protecting customers, assets and revenues. No longer will the revenue discussion be confined to a purely finance function; there will be implications for IT spend as we know it and company culture as a whole. This will be a board level conversation.
When it comes to the associated software and services for the new connected world, companies are going to need to be at least on the curve – if not ahead of it. Trailing behind will certainly not be a good place to be. This is where WeDo’s event will be invaluable. Having attended and spoken at their events in the past, I know from experience that they have the knack of getting people together to really define a category, in turn listening and driving solutions to meet the demand of what their customers want and need - ahead of the curve. That is their secret sauce.
What is needed to face the new challenges of the IoT is thought leadership, innovation and technology, and that is what WeDo deliver in spades. Their Enterprise Business Assurance approach allows businesses to face innovation such as the introduction of a new range of connected devices head on, capitalising on the opportunity for growth while maintaining tight control over business processes, the customer experience and revenue.
While it’s unusual to see this kind of innovative approach coming from Portugal rather than the usual suspects of Silicon Valley, Israel or Germany, the fact that WeDo are providing a glimmer of hope on how to come to terms with this new reality is something that should be embraced. Their worldwide footprint and impressive list of clients mean that their insights are better and different from others offering similar services. I’m looking forward to seeing how the first event specifically for the North American market unfolds!
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