Auring Technologies provides predictive maintenance and machine monitoring solutions that help the manufacturers in increasing their shop floor efficiency and to keep a check on their machines remotely.
In an interaction with EFY bureau, Deepak Dhingra, co-founder, Auring Technologies, speaks about the IoT industry, deployment of IoT in India, segments driving IoT demand, Auring’s IoT business and unique proposition and many more.
Q. Many opine that IoT is just a buzzword that industry Gurus have coined to create hype? Do you agree with that line of thought? Or do you feel that IoT is opening an entirely new market?
I don’t think it is just a buzzword because, if you look around, internet has changed the way we live and IoT, which is the extension of internet to the non-living things, has started creating value in different segments such as manufacturing, retail, logistics and others. This value which IoT is creating will eventually have an impact in our day-to-day life also. Also, Hardware-as-a-service, has now become a viable business model for lots of different organisations which is eventually opening up new markets.
Q. What are your expectations from the GoI in terms of the initiatives they should take to make India an IoT-super power?
We suggest GoI to start new initiatives related to real-time monitoring of the services that it provides like electricity, water, etc. It will help the government in identifying the problems and increase the efficiency and eventually makes us an IoT superpower.
Q. Are you satisfied at the rate of deployment of IoT solutions in India?
Although the IoT market was initially slow, but it has now picked up the pace. Organisations have better clarity on what output they expect from IoT and have dedicated profiles for digital initiatives, which make the decision making faster.
Q. How do you see the IoT market evolving in the next 2-3 years?
In my opinion, the testing phase of IoT has passed and organisations are now moving towards production projects for their IoT initiatives, particularly in manufacturing. The same would be catalysed in the next two-three years.
Q. Which industry segments do you believe will be driving a larger chunk of demand? Why?
We think manufacturing and retail would be driving the larger chunk in the future. Manufacturing have already started getting the benefits of industrial IoT in the form of increased efficiency due to machine monitoring/predictive maintenance and other solutions. Retail will again be a huge market in the coming years. If you look at China, they now have solutions like ‘smart retail’ and ‘new retail’, which we think would be massively replicated in India in coming years.
Q. What’s your bigger challenge – acquiring customers or acquiring talent? What’s your strategy in resolving the same?
Acquiring customer as well as talent is not an easy thing. For us, acquiring talent is a slightly more challenging because of the kind of qualities that we look for in our employees. Our strategy for hiring talent is: “We look for individuals who are passionate about technology and are willing to learn new things.” We don’t concentrate on skills, degree and background of a potential employee.
Q. How do you see your IoT-related business growing in the next 2-3 years both in terms of revenue and as a fraction of your overall revenues?
Auring’s IoT business has been increasing every year. We have seen a steady growth in the past three years. Our revenues per project have increased and the size of deals is also bigger now as compared to previous years.
Q. What’s your strategy to create a differentiation for your solutions vis-a-vis your competitors?
We are always working with a mindset to OUT-INNOVATE our competitors. Nowadays, we are focusing a lot on intelligent edge for manufacturing and have created solutions which we don’t see with our competitors.
Q. Any innovative strategy being planned or implemented by your team to create demand for your solutions amongst customers or channel partners?
We sell our solutions as software-as-a-service (SaaS) for IIoT, in which customers can start their IIoT journey at an extremely low price. They don’t have to spend huge amount on expensive proof of concepts (PoCs). This is also helpful to our channel partners, who are not traditional IT companies. In addition, it creates a new line of business for them without much changes.
Q. Who is the key decision maker for you – the technology decision maker or the business decision maker? With whom do you start the conversation – and how do you balance the interests of both types of decision makers?
When it comes to IoT initiative, both technology and business decision makers play a crucial role. Sometimes, in organisations, the digital initiatives come under the umbrella of technology and other times, under the umbrella of business. It is a mix and match for us when it comes to starting engagement with the customer. Managing the interest of both the decision makers is a crucial part. Therefore, while communicating, we always try to keep the interests of both the departments in mind.
Q. Have you come across any successful deployment of IoT in India that’s worthy of being noticed by other decision makers? If yes, can you share details of the same?
One of our customers in the manufacturing domain wanted to improve the efficiency of shop floor by reducing the maintenance time before production starts. Before the production starts, every day the maintenance department used to check the machines and give go ahead for production at the start of daily shift. In order to reduce their maintenance time, we deployed the machine monitoring solution through which they started getting all the details of the machines in real-time without requiring to go to every machine for check-up. They would only go to the machines which are showing error. This whole process saved them about 15 minutes of production time every day.
Q. How would you describe your solutions to a non-technical decision maker at the clients’ end?
We help manufacturing firms in increasing their efficiencies by providing real time monitoring of their machines for better production.
Q. What’s unique about your solution or your firm for them to opt for it vis-a-vis competitors?
The first thing is innovation. When it comes to delivery, we have automated most of the work required to complete an IIoT implementation. Our delivery time is a lot faster than our competitors.