B2B Payments

Sprint Targets SMBs With IoT Commerce Platform

Sprint Targets SMBs With IoT Commerce Platform

Sprint has announced it is launching a redesign of its Sprint IoT Factory, which is a marketplace of Internet of Things (IoT) solutions for small and medium-sized businesses (SMBs), according to a release.

The service provides plug-and-play solutions for IoT needs in industries like healthcare, foodservice and others. It is essentially a B2B eCommerce solution that aims to provide a clear avenue for SMBs to add IoT tech to their businesses.

“Small businesses are looking for simple technology that can save them time and reduce costs. The revamped, easy-to-navigate design of the Sprint IoT Factory streamlines the problem-solving process, giving business owners confidence as they select solutions to manage their operations and customer processes,” said Ivo Rook, senior vice president of IoT and product development at Sprint. “The Sprint IoT Factory provides a one-stop shop to guide decision-makers through every step to reach the best solution to meet their needs, while presenting costs in a clear manner.”

This has implications for supply chains. Buyers, suppliers and logistics service providers are now able to directly integrate their back-end platforms with each other.

A recent survey by Honeywell found that 70 percent of senior business professionals have already invested “significant” amounts in industrial IoT, and over two-thirds of this group plans to increase their investment within the next three years.

Why so bullish? The vast majority (82 percent) said that existing investments in industrial IoT had already either strongly or somewhat improved their supply chain issues, and 92 percent believe that industrial IoT will help make the supply chain more efficient and profitable.

As for Sprint’s solution, SMBs can either procure an IoT-in-a-box option, which is available by industry function or type, or they can get a tailor-made solution for a specific need. Sprint also said that no technical expertise is required to integrate the IoT solutions into the business.

There is, of course, the matter of security, an issue that PYMNTS touched on recently.

“While industrial IoT presents immensely exciting possibilities for businesses across the transport and logistics sector, it also increases the risk that they will face cybersecurity issues, and our research suggests that they are unprepared for these risks,” said Inmarsat’s Vice President for Industrial IoT Tara MacLachlan.

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