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Partner engagement is critical for future success in the Internet of Things.
Given the complex nature of the Internet of Things business and technology value chain, ecosystem engagement will be critical to the ability of many businesses to take full advantage of the new growth opportunities offered by, and prevent the disruption possible from, the increasingly pervasive and converging technologies around internet-of-things. The ecosystem, that is, a network of strategic alliances, partners, vendors, evangelists, integrated providers, and specialist business consultants that revolve around a company’s technologies and offerings can make or break sustainable growth in a variety of ways.
Complete the Value Chain.
Internet of Things use cases require differing sensors, gateways, communications, platforms, big data, analytics, visualization, mobile, social, commerce, and security from technology vendors large and small.
Complete Your Place in The Ecosystem.
Internet of Things solutions are delivered in the larger context of a large industry ecosystem of differing players, solutions and technologies. Without a sustainable position for your company within this ecosystem cemented through key alliances and reference customers you will not likely emerge with any value from the Internet of Things tornado.
Accelerate Revenue and Profitability.
Alliances create growth through access to new market opportunities and yield incremental sales. Well structured and properly managed alliances and business development relationships deliver go-to-market efficiency and effectiveness, bottom line improvement, shorter sales cycles and competitive barriers.
Accelerate Access and Reach.
Partnerships give access to companies with whom you would not normally be able to do business. Building alliance strategies with global partners gives you the reach necessary to support new customers worldwide.
Accelerate Market Positioning.
A company's credibility and market positioning improves through close association with brands that have trust and respect in the market. Developing marketing alliances with market leaders expands a company's access to low-cost high-quality sales leads.
Accelerate a Successful Exit.
Companies that see acquisition as their path to liquidity can use strategic partnerships. Deep alliance relationships often become mergers and acquisitions. Building business development strategies sets the stage for a successful exit in the future.
Next article in this series: Changing nature of Internet of Things end-to-end partnerships.
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Accredent specializes in the Business of The Internet of Things(tm). Formed in 2009 out a four year strategy, M&A, and business development engagement with companies that pioneered many of today's Internet-of-Things connected technologies, business models and use cases. Contact Us
Accredent has been successful partnering with business leaders of corporations and emerging ventures to develop and transform their businesses, accelerate revenue, growth and enterprise value through the Internet of Things. accredent.com
