84% of industrial companies face IoT and ERP gap: IFS study
Lack of integration stands between companies and digital transformation benefits.
WATERLOO, Ont. — Industrial companies in North America are not accessing IoT data from enterprise resource planning (ERP) software.
IFS, the global enterprise applications company (with offices in Waterloo, Ont. and Toronto) released a preliminary study that shows only 16% of the 200 IoT decision makers polled are working the ERP connection, limiting the potential of a digital transformation.
Respondents were divided into leaders and laggards, depending on how well their enterprise software prepared them for digital transformation.
Two groups overlapped, with 88% also qualifying as IoT leaders who made more complete use of data. Leaders are almost three times as likely to use IoT data for corporate business intelligence or to monitor performance against service level agreements, and are more capable of accessing the data in applications used beyond the plant floor. They’re more than four times as likely to have access to data in enterprise asset management software, twice as likely than laggards to be able to access it in high-value asset performance management software, and almost twice as likely to use IoT data in ERP.
IFS says the study suggests the most common use of IoT in industrial settings is condition-based maintenance.
Access the study results here.