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IoT services monetization to be the core of the alliance value proposition for enterprises
L&T Technology Services Limited ("L&T Technology Services"), announced its collaboration with Redknee Solutions Inc, a leading provider of real-time monetization solutions. The alliance will offer a complete architecture for enterprises to enable connectivity, analytics and monetization for the Internet of Things ("IoT").
By leveraging cutting edge technologies from both L&T Technology Services and Redknee, the partnership will enable easy billing and monetization for enterprises across the transport, energy and insurance markets, and support new business models and opportunities for those enterprises utilizing the IoT ecosystem. L&T Technology Services will integrate Redknee's Connected Suite to provide IoT end-point connectivity, advanced analytics and monetization in one integrated solution.
The use case on a solution for Usage Based Insurance (UBI) was demonstrated by the firms in Paris on June 14, 2016 in an event organized by Sierra Wireless.
L&T Technology Services has been deploying IoT solutions through its open frameworks which enable Digital Engineering of Smart Products, Manufacturing, Operations and Services. L&T Technology Services received Nasscom's recognition for 'Innovative Application of Analytics for Business Solution' in 2015.
The Redknee Connected Suite provides all the necessary tools to monetize any enterprise application - in real time – including bundled offers, promotions and new offers with complex pricing models. Redknee's modular solution was built with the diverse requirements of IoT in mind, and its monetization capabilities already support emerging IoT demands.
Keywords: IoT Architecture, L&T Technology Services, Redknee, ARC Advisory Group