While many businesses are just beginning to integrate IoT business automation into their enterprise, there are many organizations that still don’t understand the essential success of doing so. Not only does business automation software reduce operational costs and increase efficiencies. Given the impact of the overall budget, many companies have can create another avenue of growth with this type of integration.
The answer lies in Energy Expense Management (EEM) programs, which is purpose- enables you to create customized operational processes based on real-time data analytics. RadiusPoint has partnered with Locbit on it’s platform that allows clients to quickly identify inefficiencies, lower operational costs and improve performance in order to facilitate growth. Locbit’s IoT system collects and analyzes data trends such as store traffic, product displays, refrigerator openings, and climate changes so you can make data-driven decisions that will reduce cost and allow you to capitalize on hitherto missed opportunities.
The Smart Building Technology at Work
While it’s early, initial adopters seem to be leveraging smart building to improve enterprise efficiency, IT security, employee time management, and real-time communications. As a direct result of these innovations, The Locbit platform is able to monitor, measure and create efficiencies through the interpretation of the data collected from IoT devices.
When global enterprises have access to the right data points and decisions are made for the right reasons, it creates greater cohesion within the organization. It allows building owners to reduce operating costs and optimize their asset all the while making buildings sustainable through automation
Consider These Demand Charges Challenges
For many commercial customers, the peak demand part of their utility bill can be 40–50% of their total electric bill. In recent years, Utilities have received approval to increase demand charges at alarming rates. Demand charges are calculated based on the highest peak demand during the monthly billings cycle based on a 15-minute interval. It is that highest peak during one of those 15-minute intervals that dictate the cost of your bill.
EEM supports and understands the importance of maintaining a solid control over your property and energy management process. With our partner, Locbit An IoT-connected business creates a safer and more secure environment. Integrate Locbit with popular automated home security systems for instant notifications when issues are detected. This alone can result in major savings for your company. With this type of innovation it allows organizations to see and pay for their actual energy use instead of a pro-rated bill based on the square footage that they occupy.
Does your company have the need to track your Demand Meter readings, water readings or IT devices and wearables? The Internet of Things (IoT) is creating an avenue for information overload. Join us and our partner Locbit to learn how to decipher the data to better forecast your expenses at our Accelerate Innovation conference this October.