Lexmark presented investments to assist users in quickly uncover the benefits of the IoT and accelerate digital transformation at the IoT Tech Expo North America virtual event.

Lexmark’s Optra IoT solutions make use of the company’s cloud, IoT, and connectivity technologies and experience, as well as its history as a maker of connected devices and managed services work.

“We believe IoT has the power to transform all types of industries,” said Allen Waugerman, CEO of Kentucky-based Lexmark. “Companies only need the right tools to harness it, enabling them to grow and innovate. Lexmark figured it out. We unleashed the power of IoT and built a solution that we have used for years in our own business to achieve measurable benefits for our customers and ourselves. Lexmark Optra IoT can do the same for other companies.”

The Lexmark Optra IoT platform is the initial offering, and it is a ready-to-use IoT platform that may help users accelerate their business transformation by generating better goods and more advanced services at reduced prices.

According to McKinsey, 84 percent of IoT organizations are still in the pilot stage. The large volume of data that lives in silos across business systems and beyond the organization’s gates exacerbates the dilemma. Finding relevant insights from data is incredibly tough due to these complexities.

To handle its global managed print services business, Lexmark developed an IoT platform. The platform collects and analyses performance and sensor data from Lexmark’s devices, merging it with data from core business systems to provide insights.

Predictive services, asset optimization, systemic innovation, and as-a-service engagements are all examples of results that the organization can use to produce internal and external value. Lexmark remotely fixes device support issues 70% of the time and has enhanced device profitability through better use.

Lexmark’s Optra IoT Platform gives makers of linked devices beyond print the ability to utilize IoT and accomplish commercial results. It contains a technology-based designed platform that allows manufacturers to aggregate and operationalize siloed data from linked devices and core business systems.

Algorithms, machine learning, and artificial intelligence models reporting dashboards, and business process templates are part of a package of accelerators that accelerate insights and efficiencies while also delivering business value.

Customers will be guided through their IoT journey by dedicated advisors who will utilize their experience to help them realize the value of their investment.

The Optra IoT platform is currently accessible in North America and a few European markets.

“The Optra IoT platform is ready-made and proven, enabling makers of connected devices to quickly implement and rapidly achieve outcomes that bring them further success,” said Vishal Gupta, Lexmark’s chief information and technology officer. “Lexmark is reinventing how manufacturers leverage IoT to transform their business.”