Organizations Must Embrace New Ways to Manage Connected Products as Part of their Digital Transformation Initiatives
Boston (MA) – Jan 23, 2019 – MachineShop today published a white paper entitled “Device Relationship Management – Managing Connected Products Has Never Been This Important.” The white paper challenges organizations to embrace management of connected products the way they manage their customer relationships, with a CRM-like mentality and CRM-like tools. Device Relationship Management (DRM) embraces the entire lifecycle of a Connected Product from deployment to de-commissioning. But DRM doesn’t stop there. DRM extends the relationship of the connected product to a multitude of stakeholders including the manufacturer, customer and even distribution, support and supply chain partners.
CRM software was the largest category of enterprise software technology spend in 2018, according to Gartner. It accounted for $39 billion of enterprise budgets and is projected to be the largest and fastest growing category in 2019 as well. And yet most organizations still build and maintain homegrown systems for Device Relationship Management. But as Harbor Research emphasized in a report earlier this year, “A Smart Systems, Assets, and Services vision will re-think the whole relationship of devices, machines and people to business systems and processes.”
“With one exception, during every conversation we had in 2018 with CEO, CTO, Engineering and Product Management leaders they admitted significant shortcomings with their device management systems,” said MachineShop CEO Michael Campbell. “Systems are incomplete from a feature standpoint, offer limited diagnostics, poor visibility into the status of software updates and an inability to group updates by customer, geography or channel partner. Yet each organization is willing to roll the dice every day that it won’t be the day of a catastrophic failure from poor product monitoring and management.”
MachineShop’s Device Relationship ManagementTM software offering helps organizations with the complete lifecycle management of connected smart products – onboarding, provisioning, monitoring, management and decommissioning.
According to Harbor Research, while most “product-centric” businesses are now embracing the concept of growth creating services, many aren’t developing new business models or investing in new digital systems to realize true strategic potential and value. As organizations embrace the value of connected products and smart services, they must also invest in balanced and distributed computing architectures.
To learn more about MachineShop and Device Relationship Management, download a copy of their white paper at www.machineshop.io/drm-white-paper.
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MachineShop is the Edge Computing Company and provider of MachineShop DRMTM, a complete solution for Device Lifecycle Management and orchestration between edge devices and upstream cloud services. MachineShop delivers brilliantly simple edge computing solutions to the hyper-connected and highly distributed organizations worldwide. MachineShop DRM is a distributed software solution that serves connected product OEMs, enterprises and ISVs worldwide. Founded in 2012, MachineShop is headquartered in Boston, MA with offices in Denver and distribution partners worldwide. More information about our products and offerings can be found at www.machineshop.io.
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