"Our managers are expecting a guaranteed >10X ROI return within 6-12 months before we could consider implementing an IIOT solution."
This is often a caveat, or variation of a similar message, we hear when we discuss Digital Transformation strategies with some prospective Clients involving IIoT solutions.
Clearly this is a ‘positive’ stretch target and business case justification, but what isever guaranteed in business and what does this caveat actually mean?
Different IIoT solutions will deliver various returns depending on the type of Organisation or Industry Sector, hence having a narrow reasoning for implementation can limit adoption and potential success.
Understanding how the IIoT solution will be measured against current business work processes, directly and indirectly, is thus vitally important to quantifying true ROI outcomes.
Below we have shared the outcomes from some of our more recent Digital Transformation IIoT involvements. You will note all engagements have presented positive ROI returns. By the caveat above however, some of these deployments may not be considered successful even though they still have provided positive ROI outcomes. But why should they be termed unsuccessful?
Adopting IIoT solutions within your Digital Transformation strategies will bring recurring benefits to your organisation starting today. The actual ROI benefit will depend on adoption and how effectively an organisation can measure the true comparisons between the IIoT solution and the organisation’s operation needs only after investment.