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What actually IS the 'Internet of Things'?

Tony Bullock

Accounting Senior Manager

Many will have heard the phrase ‘Internet of things’ but, equally, many will be wondering what it is and why an increasing number of businesses are embracing this technology.

In the simplest terms the Internet of Things is a network of objects that will interact and talk to each other whilst gathering and sharing data. We have all encountered personal examples (albeit maybe unwittingly) of the Internet of Things in our day to day lives as smart thermostats, toothbrushes and pet finders are all examples.

Many business owners are now looking at this technology to help improve the efficiency, productivity and profitability of their businesses. Unsurprisingly manufacturing businesses are leading the way.

Smart manufacturing creates an environment whereby all information in a manufacturing process can be captured in real-time. It creates automated processes that can work proactively to ensure that disruptions are minimised, efficiencies are maximised and customers’ expectations can be exceeded.

In a world where businesses remain uncertain about the future – uncertainty not helped by concerns over how Brexit will finally play out - early adoption of and investment in the Internet of Things could very well prove to be a smart business decision.

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