Entry Details
| Organization: | |
| Login ID: | FaisalKSA24 |
| Category applied for: | IoT INTEGRATION INITIATIVE OF THE YEAR |
| Submission date: | 07-Aug-2024 |
| Submission Entry: | 1.) Given that buildings consume 40% of global energy, within which at least 40% is consumed by HVAC systems, how has the goal of 1.5 C additionally impacted your project opportunities? What specific products have you supplied or incorporated to support the 1.5 goal? (150 words) (291)Answer: Products like energy-efficient HVAC systems and green building materials are commonly incorporated to support this goal. 2.) Describe the bigger picture you see as an IoT service provider. How do socio-economic and sustainable development initiatives in Saudi Arabia impact/influence you as a manufacturer, supplier or service-provider? (150 words) (292)Answer: Socio-economic and sustainable development initiatives in Saudi Arabia significantly impact IoT service providers. These initiatives drive the demand for innovative, energy-efficient solutions, aligning with national goals for sustainability. As a manufacturer or service provider, this means focusing on products that enhance energy efficiency, reduce carbon footprints, and support smart city projects. 3.) How has the global drive towards digitalisation impacted your business in terms of sales cycles, conversion rates of prospects to contracts and improved profitability? (150 words) (293)Answer: The global drive towards digitalization has significantly impacted businesses by shortening sales cycles, improving conversion rates, and enhancing profitability. Digitalization enables better data analytics, streamlined processes, and more effective customer engagement. For example, leveraging data analytics can help you identify high-intent prospects, leading to quicker conversions and higher contract win rates. Additionally, digital tools can optimize your sales strategy, making it more efficient and profitable. 4.) To what extent do you believe you have the scope to feel concerned about, and to contribute to, the socio-economic and sustainable development of Saudi Arabia? How frequently are you able to precisely meet the specific needs of consultants and of developers/builders (clients)? What proportion of your annual revenues is from a "business as usual" approach to deliver the equipment? What specific actions have you taken to persuade consultants and clients to look beyond business as usual? (150 words) (294)Answer: With a commitment to clean energy and sustainability, the Kingdom is leading the charge in tackling energy and climate challenges with innovative solutions such as the Circular Carbon Economy (CCE) and an increasingly diverse energy mix, in which 50% of energy will come from renewable sources by 2030. 5.) What steps have you taken to ensure cyber security, so that customers' personal or business data are not compromised? (150 words) (295)Answer: Ensuring cybersecurity involves multiple steps such as implementing strong encryption, regular security audits, employee training, and using advanced threat detection systems. These measures help protect customers' personal and business data from potential breaches. 6.) As manufacturer, supplier or service-provider, what specific actions do you take in terms of handholding on installation and training on operation, plus ensuring availability of aftersales support? (150 words) (296)Answer: One of the most direct and reliable ways to evaluate your after-sales performance is to ask your customers for their feedback. You can use surveys, reviews, ratings, testimonials, or referrals to measure how satisfied your customers are with your after-sales service. 7.) What pricing policy do you follow as a manufacturer, supplier or service-provider of IoT products or services? What are you doing to attract customers - innovative commercial contracts, project financing, etc.? (150 words) (297)Answer: Your prices don't always need to be lower than your competitors', but if they're higher, you need to be able to justify it with added quality. Your products don't always need to be quality, but if they're low-quality, you'll need to be able to justify it with lower prices. Where you fall on either side of this trade-off determines your value position, which we'll discuss in a bit. But no matter how you decide to position your product, you'll need to stay up-to-date on what your competitors charge, pricing trends in your industry, and what pricing models work best for your market. 8.) What management strategies and guidelines have you established to counter payment delays and other such instances, which are affecting your cashflow as a manufacturer, supplier or service-provider, and are preventing an ideal building construction eco-system (involving all stakeholders) from forming? What creative strategies are you utilising to circumvent/overcome cash flow challenges? (150 words) (298)Answer: Cash flow in project management is the movement of cash related to a specific construction project. A project accountant is typically responsible for analysing a project’s cash flow to predict cash needs and creating a payment schedule to ensure there’s enough cash for each phase of a project. 9.) What do you envisage the future of IoT to be? What futuristic scenario are you working towards the supply of IoT devices and software? Are you providing completely cloud-based solutions on a recurring revenue model or on-premise installation of software for a one-time fee? (150 words) (299)Answer: Designing, developing and implementing an IoT solution is complex and requires the right combination of IoT expertise, domain knowledge and data science. So making the choice between cloud vs on-premises IoT deployment depends on what suits your organization best. 10.) Anything else you wish to say, which you feel would bolster your case? (150 words) (300)Answer: No thank you, |
| Supporting documents: | none |
| References: | CCAKSA24-IOTININ || rafaqat_faisal@yahoo.com |