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Customer success stories
Lexmark Optra IoT Platform helped us deliver a new predictive service model for our customers, where we monitor device health and reach out before there’s a problem.
Finding Lexmark, who understands the intricacies of what being a manufacturer means, is one of the most valuable partnerships I’ve taken part in. We were able to scale [Optra IoT] in a fraction of the time [versus] if we were to try and do it ourselves.
According to Forrester, 86% [of participants] said adopting a connected products strategy will enable their company to gain a competitive advantage in the future.
Cut deployment costs in half
Budget matters. The cost of a connected products solution delivered with Optra is half the price of developing an in-house solution. When evaluating an IoT initiative, it’s important to weigh the expense of building versus partnering and tailoring a solution.
Some reasons for the cost difference are:
- Invention is challenging, time-consuming, and involves a trial-and-error process — with Optra, we’ve already proven and tested that invention for you.
- Connected Products solutions require scarce resources like data scientists and developers with specialized skills on a broad range of technologies — Optra resources are experts in these solutions, eliminating the training and development time.
- The Optra platform subscription simplifies and reduces the cost of ongoing software maintenance with product updates that deliver new functionality and address security needs.
Forrester reports that 58% [of businesses] lack the internal skills or resources to build a connected products management platform.
| Building IoT in-house | Partnering with an IoT expert | |
| Development time | Years to develop and deploy | Deploy in as little as 90 days with proven solutions and existing expertise |
| Investment | Large investment in hardware, software, and skilled talent | Lower upfront costs by leveraging partner resources and infrastructure |
| Maintenance | Requires ongoing updates, monitoring and troubleshooting | Ongoing support and maintenance handled by partner |
| Expertise | Need to hire and train specialized talent | Immediate access to industry knowledge and experience |
| Scalability | Limited by in-house capabilities | Scales efficiently with expert resources and support |
| Risk management | Greater risk due to the invention required and resources learning new tools and practices | Reduced risk with pre-built use cases, proven methodologies and practices |
According to Forrester, 76% [of participants] said not partnering with a proven solution provider will significantly delay success.
Take the 90-day IoT challenge
Lexmark is more than just a vendor — we understand the journey as manufacturers ourselves. By partnering with an experienced team of experts, you can shorten what would be a lengthy IoT implementation into a 90-day implementation, allowing your team to concentrate on driving business growth.
Fast-track your ROI
At the end of the day, it’s all about ROI. With Optra, you can start realizing value in as little as 90 days. Consider the opportunity cost — the faster a solution is deployed, the greater the business value you can achieve.
- 90-day implementation period
- Realize savings in the first year
- Build a foundation for future initiatives and use cases
Think about it: Do you want to be in the IoT business or leverage IoT to transform your business? Fortunately, Lexmark's expertise is IoT. And while others offer solutions, they don't have Optra.
FAQ
Q: What does "build vs. buy" mean in IoT?
A: "Build vs. buy" refers to the decision organizations face when implementing IoT solutions: whether to develop a custom IoT system in-house (build) or purchase a pre-built solution from a partner (buy).
Q: What are the benefits of building an IoT solution in-house?
A: Building an IoT solution in-house allows you to tailor it to your specific business needs, incorporating unique features that distinguish your company. By building your own solution, you gain complete control over the technology stack and data, ensuring alignment with existing systems and infrastructure.
Q: What are the challenges of building your own IoT solution?
A: Building your own IoT solution requires considerable investments in hardware, software, and skilled personnel. This process can take several months or even years to complete. Ensuring data security and compliance with industry standards can be intricate, and the ongoing need for updates, monitoring, and troubleshooting adds to the complexity.
Q: What are the benefits of partnering with an IoT expert?
A: Partnering with an IoT expert gives you access to a ready-made solution that accelerates implementation, minimizing the need for extensive research and development investment. Established partners offer tried and tested solutions while managing updates, patches, and regulatory compliance. Solutions like Optra IoT are designed to scale with your business needs.
Q: What industries benefit most from partnering with an IoT expert?
A: Many industries benefit from the speed and reliability of partnering to develop IoT solutions, including manufacturing, healthcare, retail, and logistics.
Q: How do I decide whether to build an IoT solution or partner with an expert?
A: When deciding whether to build your own IoT solution or partner with an expert, ask yourself:
- Can I afford the upfront investment for development?
- How quickly do I need a solution in place?
- Do I have the resources to build and maintain a system?
- Can the solution scale significantly in the future?
- Can my team handle compliance and security challenges?
Q: How do I evaluate IoT partners?
A: When evaluating IoT partners, consider those with a strong track record, compliance with industry standards, scalable solutions, and seamless integration with your existing systems.
