You’re at a conference lunch, and someone at the table asks everyone to share how the “Internet of Things” or “IoT” impacts their business. What do you say? If you’re not sure, keep reading, and I’ll give you some details and insights that can help you start to navigate that question.

What is the Internet of Things? 

The Internet of Things, or IoT, is a term used to describe a network of connected devices that collect, send, and store information. Chances are you’re already leveraging the internet of things at home. If you’re managing or interacting with anything using your smartphone, for example, the thermostat, the Instant Pot, or your smartwatch, you’re using the Internet of Things.

In the business world, it’s very similar, except instead of managing the temperature in your house, the IoT is used to understand and manage things like customer data, office energy use, and inventory.

How the Internet of Things Benefits Small Business 

The Internet of Things provides numerous advantages for small businesses stemming from increased data fluidity. It just makes sense. If you can better track and understand information about your business, its operations, and its clients, you can uncover what works and what doesn’t more effectively. You can then leverage that information to optimize your business, boosting efficiency and customer satisfaction while reducing spending. An article from DataProt, from March of 2022 revealed that over 80% of companies had increased efficiency leveraging the internet of things.

Let’s jump into an example. Let’s say your company sells various products stored in a central warehouse. By incorporating the IoT into your storage and shipping processes, you’d be better able to manage your inventory and optimize how quickly and seamlessly products get delivered to your clients.

Managing Endpoints and Cybersecurity 

It is important to remember that the increase in connectivity and data sharing among devices also provides an elevated risk for cybersecurity issues. Companies must have a cybersecurity strategy to thwart security threats and provide backup should an attack happen.

As the internet of things expands and more businesses take advantage of its benefits, managing the resulting endpoints and their security is a growing concern. That’s where managed service providers, like Smooth-IT, can step in. We’ll help you get the most out of the internet of things, properly oversee your endpoints and ensure their security.