New and innovative Internet of Things products and services, created by packaging an intelligent device with a cellular network and software application, are presenting a tremendous opportunity for businesses to achieve rapid growth, enhance customer loyalty, and increase their market share.
Many manufacturing and distribution companies are connecting "things" to the cloud and developing value-added service (VAS) that resembles an application or managed offering. Customers wishing to take advantage of these IoT solutions are demanding an easy path to purchase with services bundled in an all-in-one package. Responding to these demands, companies have created a service model which is dependent on delivering, charging, and managing subscriber relationships. However, they soon face the struggle of transforming their business models from that of a supply chain company, to that of a true service organization. Challenges with internal systems and processes that are ill-suited to manage a service-based revenue stream are coupled with complex wireless carrier operations and managed application support services.
It is for these reasons that RevX Systems has integrated with KORE to deliver an IoT Monetization Platform. Designed as an Operations and Support system for the IoT, RevX’s unique solution empowers businesses to automate various front- and back-office processes including customer onboarding, device provisioning, billing management, and customer support.
Some key features of RevX’s IoT Monetization Platform include:
- Automated customer acquisition and order processing
- Branded portal for end-users to self-activate, suspend and terminate connected devices
- Powerful billing capabilities to charge for subscription, software entitlements, data and metered services
- Global payment processing engine
- Customer and device management with analytics capabilities
Bundling connectivity and applications with products and services will add value to your offering, drive recurring revenue and provide customers with a “one-stop-shop”, streamlined solution.
Coupled with KORE’s global connectivity offering, the RevX platform is a launch pad for businesses to get their IoT applications to market in the quickest and most efficient way possible.