Raghu Bala, Founder & CEO
With the onset of Industry 4.0 and digital transformation in manufacturing, the Internet of things (IoT) has emerged as a core component of the technological revolution. Smart, connected products powered by IoT technology have the potential to transform business models, increase output, and automate processes. Consequently, companies are redefining their strategies to integrate IoT into product capabilities, infrastructure, and operational processes to gain a competitive advantage in today’s connected economy.
Manufacturers operate in an ecosystem of many suppliers that requires a network to prevent information technology silos. When the different systems in a supply chain do not communicate, it causes delays, production stoppages, labor inefficiency, and performance issues. Helping industries bridge the gap between the physical and the virtual world, NetObjex provides a comprehensive platform for implementing IoT solutions and rapid turnkey deployment of smart IoT device networks. The company partners with enterprises and technology providers to develop industry-leading solutions. “Our technologies enable the development of solutions that collect valuable data in real time. They aid in decision-making while providing a channel for engaging consumers and a platform for information dissemination,” states Raghu Bala, CEO, NetObjex.
NetObjex is a platform as a service provider for IoT solutions, which coupled with smart products, enables better performance, utilization, efficiency, tracking, and traceability of assets. “We install, customize, and integrate our platform into a client’s environment,” says Bala. The company also accommodates legacy enterprise systems through its “Enterprise Gateway” and industrial equipment that require retrofitting with sensors and edge devices to enable data collection. The resulting data from IoT devices is visualized in the cloud using big data analytics.
Smart, connected products possess the ability to communicate, enabling proactive preventative maintenance, overall efficiency, and allowing devices to be remotely controlled for safety and accessibility reasons. IoT facilitates feedback from users and this data can affect engineering and design to improve product features and functionality. Additionally, NetObjex leverages blockchain technology to allow partners in an ecosystem to share data securely and utilize smart contracts to enforce business rules and legal covenants.
“Blockchain is immutable, transparent, and tamper-proof which is perfect for recording data,” says Bala. For instance, a bottling plant acquires ingredients for its beverages from several different suppliers, and processes, stores, and distributes the beverage to retailers. If contamination was to occur, the company would need to issue a recall and take products off the shelves. The company would also need to figure out the store location carrying the contaminated batch, down to the last bottle. With NetObjex’s IoT platform, products are traceable anywhere in the company’s ecosystem, and the firm is currently developing “smart caps” that can be placed on top of any liquid container to determine when a refill is required. These devices will automatically place an order and have the product delivered.
In addition, NetObjex has developed capabilities into smart products that enable payment, using cryptocurrency. Our platform models a digital twin for assets and associates them with a digital wallet. “To date, we have done four proof of concepts in Smart Metering, Smart Charging, Smart Parking, and Smart Media with partners around the world. This holds great promise where you can have smart devices that have their own wallets, and pay for goods, and services without human intervention,” says Bala.
Connected products enable a fundamental shift from reactive to preventive, proactive, and remote service. “NetObjex helps companies navigate the transformation process by helping create smart products with an automated feedback loop that helps in innovation and product improvements,” explains Bala. The company has a number of partnerships with systems integrators to help implement its solutions. While partners focus on building relationships with end customers, NetObjex invests in research and development to further enhance its offerings. As companies begin their journey toward Industry 4.0, NetObjex will guide the transformation with its range of IoT and blockchain products and services.