Redknee Solutions Inc. announced the launch of the Redknee Connected Suite, a software platform designed to help businesses capitalize on the monetization opportunities related to the Internet of Things. A recent Machina Research whitepaper highlights the USD $1.3 trillion opportunity that is available to companies that have sophisticated monetization capabilities like those provided by Redknee’s Connected Suite.
“Redknee is investing heavily to ensure businesses of all types are fully prepared to take advantage of the tremendous monetization opportunities within the new digital economy,” commented Lucas Skoczkowski, Redknee’s CEO. “Our recent acquisition of Orga Systems has enhanced Redknee’s Connected Suite from a technology perspective, and fueled our expansion into new vertical markets, with customers that include the likes of automaker BMW, and the largest energy provider in the Philippines, Meralco.”
The Redknee Connected Suite enables businesses to monetize anything – in real-time – and create new offers and complex pricing models instantly. It allows businesses to control their price points and promotions, including where and when they are offered. Businesses can build recurring revenue with Redknee’s cloud-based IoT monetization platform, across any industry – from utilities and smart meters, to transportation, connected homes and more.
One of the modules within the Redknee Connected Suite is the Prepaid Energy Solution, which gives customers a new way to pay for and track energy consumption over their mobile phones. It also helps reduce bad debt for energy providers and enables smart meters to be remotely connected and disconnected, saving significant operational costs. Redknee has signed a partnering agreement with Elster, the world’s leading manufacturer and supplier of metering solutions to gas, electricity and water utility providers, to market the solution to their customers.
Matt Hatton, Founder and CEO, Machina Research commented:
“The growth of the Internet of Things (IoT) will be the defining trend in the technology landscape over the next ten years, and it will permeate every vertical sector and influence the majority of business processes in some way. Redknee provides the ability to rate, charge and bill for digital services across today’s connected world, helping businesses to monetize the IoT revolution.”
The new Machina whitepaper, ‘The Successful Monetization of the Internet of Things’, is now available for download. It highlights that the role of monetization will be critical to success as traditional business models and supply chains are challenged.
Redknee monetizes today’s digital world. We provide a complete portfolio of mission-critical monetization and subscriber management solutions and services that allow communications service providers, utility companies, auto makers and enterprise businesses of all types to charge for things in new and innovative ways. Redknee’s real-time billing, charging, policy and customer care offerings provide the agility and scalability to drive a unique user experience, increase profitability and support any new product or business model. Available on premise, cloud-based, or as a Software-as-a-Service, Redknee’s low-risk, flexible solutions power more than 250 businesses across the globe. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, please go to www.redknee.com.