Flutura becomes the world's first IIoT company to create a path-breaking per asset business model predicated on per asset pricing now. This has now been executed on the ground with 3 new customers in Houston & Europe signing up in the last 90 days. We have an array of 120+ industrial customers expressing a keen interest to spawn new digital revenue streams in 2017
Since our birth in 2012, We at Flutura have always believed in the power of new business models, not just technology to leapfrog and get the competitive advantage in the marketplace. While many IOT companies focussed on IOT technology, Flutura was obsessed with the business model to monetize IOT technology.
This business model is orbit shifting in 3 specific ways for Industrial sector
1.It offers them a completely NEW digital revenue pool for asset manufacturers, previously nonexistent
2. This revenue stream is not one time, it is CONTINOUS and PREDICTABLE
3. The revenue earned is directly proportional to no of FIELD ASSETS
The Cerebra platform is the foundational bedrock on which new digital business models are being created.The platform allows a variety of business model configurations as outlined below
Task-based pricing model - Diagnostic tasks, Prognostic tasks, Advanced state assessment
- Asset complexity - Nodal vs "Non-Nodal" asset
- Breadth & depth of electro-mechanical & hydraulic signals in scope
- No of subsystems
The final outcome is the Unit pricing model - Per asset per year, Per asset per app, Per asset per month, Per asset per app per month
While we are excited about the headroom we are also grounded in our expectations as the shift in mindset is massive and is predicated on 3 core organizational dependencies foundational to success
1. Institutionalization of Chief Digital Officer by Industrial companies
2. Skin in the game by allocating Dollars for digitization
3. Shift in industrial mindsets at the CXO level ( where progress on Digital IIoT becomes a board review item )
We are confident that this digital trend is irreversible and momentum will unfold in 2017
Flutura's stellar customer impact team has got 2 more orbit shifting business models up its sleeve. We would make announcements about these in the 3rd quarter of 2017. Stay tuned for 2017 is the year Industrial companies shift from technology to business models to power their future
Congrats Rick, Okubo San, Sugato & Ganesh for your stellar efforts in making this model the new reality in Houston, Tokyo, and Europe.
As they say, The best is yet to come :)
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