IoT Cheat Codes: unlocking monetization and scale

RevX hosted an exclusive webinar, “IoT Cheat Codes: Unlocking the Key to Monetization and Scale,” featuring Robert Entrican, CTO and Co-founder of RevX Systems, sharing insights specifically for those with 5G/LTE IoT services.

Robert provided tips and strategies for seamlessly monetizing a cellular-based IoT business and scaling from hundreds to millions of subscribers without restructuring the charging model. He discussed the key elements of an IoT solution and how they relate to a business's pricing model, as well as the top challenges companies face when monetizing and scaling. Participants ranged across connected health, fleet and asset management, and surveillance and access control — all sharing the added complexity of 5G/LTE-based products.

Three “cheat codes” to IoT monetization that can be put into practice immediately:

• Downstream device management. Giving subscribers the ability to manage their own entitlements creates stickiness and eliminates the need for large back-office headcount. Self-service enhances the experience and reduces operational costs.
• End-user tools for billing and device management. Through a dedicated portal, subscribers handle their own billing inquiries and device management — extending carrier functions into your user pool for a seamless, efficient experience.
• Policy-based subscriber revenue collection. Automating payment processing improves collection: policy-based retries and service interruption for delinquent accounts encourage timely payment, and services restore automatically once the balance is cleared.

RevX offers complimentary 30-minute consultations with its experts. Email Sales@RevXsystems.com to schedule one.