A popular topic these days is the Internet of Things, and there seems to be some misconceptions about it. In this blog, we uncover some of the most common misconceptions about IoT that every business should ignore.

Misconception #1: IoT Is Only For Large Corporations

There is a common misconception that the Internet of Things is only for large corporations. However, open platforms and low-cost sensors have made IoT solutions a cost-effective option for small to medium businesses. According to an AVG survey, 57% of small business think the IoT will have a significant effect on their bottom line. So, contrary to popular belief, IoT is not only leveraged by large corporations, but smaller businesses are adopting it as it has become more accessible. For example, Bike Lane, a Houston bike shop began using electronic tags to digitally manage inventory. In this way, the bike shop was able to streamline their business processes, boost sales, and reduce labor costs. Another great tool is Commercient’s IoT Pulse app, which integrates your ERP to over 815 apps, giving your business full access to important information, and can help improve efficiency, cut costs, and more.

Misconception #2: IoT Is Too Expensive

Another common IoT misconception is that IoT are devices too expensive. But, this is not true. The costs of IoT are decreasing every day so much that even small and mid-sized companies are leveraging IoT technologies. The concept of connected objects resting on open standards and technologies is inexpensive and does not require considerable financial resources. Our IoT Pulse app is an affordable option for small businesses, and supports several different ERPs, including QuickBooks, which is one of the most affordable ERPs.

Misconception #3: IoT Devices Are Unsafe

Some people also believe that IoT devices are unsafe. Of course, nothing in this world is completely safe, but IoT devices come with layers of security, ensuring that the majority of your data is safe as long as you take appropriate precautions. Take Commercient IoT Pulse, for instance: It allows you to connect your ERP to the Internet by installing a sync agent that creates a secure connection with your ERP.

When speaking of connected devices communicating in the Cloud, there is no escaping the possibility of attacks. But companies and individual users can adopt quality standards and best practices that minimize those risks to ensure IoT becomes a pro, not a con.

Misconception #4: IoT Is Just About Sensors

Sensors are an integral part of the IoT environment, but there is much more to IoT than just sensors. Because it is called the ‘Internet of Things,’ it involves APIs, software, networks, cloud, gateways, hubs, and the communication between the physical objects, and much more. It’s about management and support of the entire IoT solution. Sensors are just one part of the overall equation.

Do you have any more questions or concerns about IoT? We would love to speak with you. We’re always here to serve you. Also, if you’re interested learning more about our IoT Pulse app, check out our IoT Pulse page.