Powered Services Podcast: IoT Landscape Advancing and What it Means for SMBs

The Internet of Things (IoT) has changed the way SMBs utilize devices across various business processes and operations. IoT not only helps advance SMB digital capabilities, but also improves their productivity and profitability. 

As an MSP, you are in the best position to convey these capabilities to help your SMB customers benefit from IoT’s tremendous potential and the real-time actionable business insights it generates. This can be done by focusing on the most recent market trends and your clients’ constantly evolving business needs. 

In this blog post, we’ll touch upon the benefits of IoT for SMBs, why they are often reluctant to adopt IoT and how MSPs can help SMBs harness the power of IoT.

Why are SMBs reluctant to embrace IoT and how can MSPs help?

SMBs often assume IoT initiatives will overwhelm their current IT infrastructure. They face difficulty justifying it within their limited budgets. Although IoT benefits SMBs and big enterprises in a similar manner, SMB owners often find it unrealistic to implement it at a similar pace or scale as large firms. 

Be that as it may, the real problem, however, is that your customers know too little about the advantages and disadvantages of IoT solutions. 

From an SMB perspective, IoT can significantly slash business expenses by automating time-consuming, low-value tasks. But, what about the initial cost of purchasing and deploying IoT devices? Unfortunately, most SMBs lack the resources, time and budget to research, deploy and support these cutting-edge technological solutions on their own. 

This gives you the perfect opportunity to show your value as an MSP. You can guide SMBs on how best to implement IoT across their business processes so that it becomes cost-viable for them.

Even organizations with a limited budget can avail the benefits of IoT with the help of an MSP. They can easily integrate IoT into their existing infrastructure without facing any critical financial challenges. All they need is diligent planning and a well-executed strategy. 

As an MSP, you should assess the following parameters for your SMB clients before suggesting any implementation: 

  • What are their immediate needs? 
  • In which areas can IoT help them achieve a faster turnaround?
  • How can they prioritize and line up IoT initiatives to ensure faster returns on investment?
  • Does implementation need to happen all at once? What can be implemented at a later stage as and when budgets allow? 
  • Are the devices compatible with their current infrastructure?
  • Are the IoT solutions scalable enough to meet their future business requirements?

IoT-related cybersecurity challenges are creating new opportunities for MSPs

Cyberattacks have been growing by leaps and bounds, especially during the post-COVID-19 pandemic period. What’s even worse for organizations is that attacks have become increasingly sophisticated. Bad actors have been leveraging advanced technologies like IoT, AI & ML to exploit gaps in company networks. 

With technology like IoT, the risk of falling victim to a cyberattack is even greater since hundreds of connected devices are constantly gathering and sharing data on the same network. Without the appropriate security standards in place for IoT applications and devices, no one will be aware of a problem until it is too late. That’s why SMBs need an MSP to show them the right way to use IoT devices to their advantage while protecting their IT infrastructure against cyberattacks. 

As an MSP, your job not only involves eliminating threats but also providing a 360-degree solution to all your clients’ concerns related to regulations and compliance, business continuity, cyber insurance and more. 

It’s time to strategize and formulate profoundly beneficial IoT practices that will meet customer business needs and give you a competitive edge over your peers. 

To learn more about IoT opportunities for MSPs, listen to the latest Powered Services Podcast episode “IoT Landscape Advancing and What it Means for SMBs.”  

In this episode of the Powered Services podcast, host Will Bishop sits down with Mike Steep, executive director at Stanford Engineering Center for Disruptive Technology and Digital Cities, to talk about the current and emerging IoT landscape for SMBs and what it means for you as an MSP.

Here’s a sneak peek of what you’ll hear on the episode:

  • How quickly technologies such as AI, ML and IoT have grown
  • What are the usual ways SMBs implement IoT into their business
  • How MSPs can cope with today’s changing threat landscape in the wake of IoT
  • How MSPs can keep up with today’s security standards
  • What new technologies SMBs should embrace to grow their business

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