DLL launched a bluepaper examining the possibilities for the Internet of Things. The finance company believes in the business potential of this data centric technology trend.
DLL sees the Internet of Things (IoT) as one of today’s game-changing trends and potential source of new revenue streams for manufacturers within several industries.
Egbert de Jong, vice president of strategy, product development, asset management and remarketing at DLL, said, “The Internet of Things is not just a future trend, it is happening right now. We believe that to continue to be successful, you need to get on board today. Since each industry follows its own approach, we’ve, in this bluepaper, set out case studies from several industries. We hope this paper will inspire businesses to follow this path and we are ready to support them along the road.”
Simply defined, IoT uses connected equipment and devices to create customer and business value. This seamless interconnectivity is facilitating the collection of thousands of data points on when and how equipment is being used. All these data help customers manage their equipment more effectively and reduce overall utilization costs. It also helps manufacturers and suppliers better understand when equipment should be serviced and the right time to offer technology upgrades or new products.
“IoT basically makes manufacturers better at the things they do by enabling them to provide better customer service, new and innovative products, digital tools and in the end, enhancing their competitive position in the market, “ de Jong added.
DLL firmly believes that the younger generation will drive innovation in IoT for decades to come and is keen to understand the opportunities it brings for its customers and the leasing industry itself. DLL sees IoT as an enabler in further developing existing and new financial solutions. It will help DLL to drive more proactive portfolio management and help manufacturers and suppliers better understand when equipment should be serviced and the right time to offer technology upgrades or new products.
Additionally, IoT (and particularly real time data on the usage of the equipment) will facilitate the development of pay per use models. To further develop its knowledge on this topic, DLL became a partner of the Startupbootcamp IoT Connected Devices. A global network of industry focused startup accelerators that encourages and helps rising talent in IoT to reach their full potential.
Sales tax compliance can be a daunting task for any company to take on, but it is especially difficult for an equipment leasing company. Why? Because it is a complicated area made even more complex by the types of business... read more
The Equipment Leasing and Finance Association (ELFA) was established to provide its members with a forum for industry development, a platform to advocate for the industry and a resource for industry information. So when ELFA leadership started noticing more gray... read more