The complex IoT world calls for extreme monetization agility. The move from a simplistic M2M world to a more complex IoT reality means companies are now finding themselves having to adjust to a multifaced ecosystem environment, where products are increasingly servitized and business conducted in an any-to-any relationship fashion. Flexible pricing for products and services, improved management of recurring revenue and enterprise contracts, and changing business models without constraints serve as a great competitive edge. However, few enterprise billing solutions supports this fast-paced agility – but we do!
The key to success in monetizing IoT lies in the monetization structure being able to support all business relationships and all levels of charging and processes across the entire billing chain. Ericsson’s IoT Monetization solution is powered by Ericsson IoT Accelerator and was architected from ‘day-one’ to be metadata based – meaning it is a full service- and industry-agnostic, hence applicable to any business model and relationship.
Ericsson IoT Monetization is a next generation billing and settlement platform for any industry, any business model, any revenue stream - if you can measure it, you can monetize it. An aaS offering built on Ericsson Enterprise and Cloud Billing functionalities.
Included in the Ericsson IoT Accelerator platform, Ericsson IoT Monetization supports a range of services from subscriptions to usage based services, multiple-partner business models, complex services and cross product discounting and bundling. The service used could be calls, device data, digital services, cloud usage, M2M, aviation, cargo, concessions or complex financial transactions – any type of activity where usage can be quantified and needs to be priced, billed and/or settled to a participant monetary relationship.
Ericsson IoT Monetization is built on a metadata-driven architecture, whereby services can be easily created, added to or used to replace an existing set of services – while internally and externally remaining loosely coupled. Once parameters are defined, Ericsson IoT Monetization has a further unique ability to implement the service by automatically creating any associated data models, user interfaces, workflow, and settlement processes.
Simply put, our IoT Monetization solution monetize any IoT business.
Today’s IoT business models are relationship-driven and characterized by changing, individualized agreements across partners, customers and channels. Ericsson IoT Monetization provides businesses with:
With its billing-on-behalf-of and billing-and-settlement capabilities in one, Ericsson’s event-based IoT Monetization solution has been applied to a wide variety of use cases. One prominent example is Chicago’s O’Hare airport, where the solution automates the billing process for over 20 aviation and non-aviation business lines while reporting requirements within a single system for a full understanding of airport revenue streams. Another is smart mobility in the Netherlands, where multi-model fare collection is in use, providing commuters with one seamless payment mechanism across various transportation modes.
In an IoT world where agility dictates success, having a transformation partner with end-to-end capabilities, industry knowledge and a rich ecosystem is essential. When it comes to monetizing IoT, a sophisticated and extremely agile solution puts you ahead of competition regardless of the services you launch, business models you introduce or ecosystem partners you team up with. Contact us to learn more about Ericsson’s IoT Monetization solution.
For more information download the IoT Monetization solution brief