You have an industry leading product and a compelling vision to enable your product with technology. The new IOT enabled product has the potential to disrupt your industry and guarantee your place as a market leader. But you don't know how to make it happen, yet.
You don’t have expertise in information technology and there is no budget to add IT staff. You’re not sure where to source the technology, but you expect that you'll need a consistent supply that is validated with your product. Any failure in the technology will result in failure of your product, so this has to be right.
If you don’t have the expertise in-house the best approach is to find an expert that you can outsource the technology work to. This can be a tricky proposition because this partner won't be helping you with an internal issue. But they are helping you with what you bring to market, what you bring to your customers. Trusting an outsourced partner with this can be very risky but can also help you go to market faster and with a better overall solution.
Below are some risk mitigating factors to consider when selecting an IOT technology partner.
- Range of products offered. As you are building out the technology for your new IOT enabled device you need options. Your technology partner should bring a variety of possibilities to you.
- Brand neutrality. You want to make sure your partner isn’t excluding options because they prefer one type of technology brand over another. It is important that you see all options to make the best decisions.
- Experience in product research and development. Many technology companies have expertise in implementing technology solutions but aren’t experienced in supporting R&D. You want a technology partner who has the process and quality controls needed for manufacturing. If technology fails in your product, your customers and your brand are affected. You risk too much if you work with an inexperienced partner.
- ISO Quality Registrations for your industry or under ISO 9001. Working under these registrations keeps an organization focused on product quality and that is what you want for your IOT product.
- Technology lifecycle management. Make sure your partner will track the lifecycle of any technology you incorporate in your product. Technology changes fast. It is important you are aware of technology roadmaps in order to test and manage future upgrades of your product.
Taking your time to choose an IT partner with the right experience will set you up for success in the IOT market.