Monetization for IoT Solutions

Monetization for IoT solutions entail tracking and billing all the IoT devices that are part of the IoT solution. The IoT platforms require that they get a clear picture of all their active devices and which customer accounts are using them. It should be easy to track the inventory of the devices with their statuses. Also possible to sync the status to actual provisioning status on the telecom network.

The diagram shows how IoT based OBD port devices are used in cars and trucks. The new generation cars and trucks are fitted with OBD (On-board Diagnostics) devices that help in self diagnostics for the vehicle as well as help with the internet connectivity to the car through the SIM card which is fitted into the OBD device.

The diagram helps understand the use case of how the vehicle moves from the OEM (Original Equipment Manufacturer) to the dealers and from the dealers to the consumers.

The EarnBill monetization platform helps the IoT solution provider to track the movement of devices from OEM to the card dealer and then to the consumer. The IoT provider should bill either the OEM, the dealer or the consumer depending on who is in charge of the vehicle (car or the truck).

The OEM block buys the OBD devices from the IoT solution provider and gets a one time fee (lump sum) for 2 years. After 2 years of no accrual of any charges, the IoT provider will need to ensure and track the movement of OBD devices (the vehicles) from OEM to car/truck dealers and finally to consumers. This involves some complex workflow tracking, which also involves integration with other systems.

The agreement between the dealers with the IoT solution provider can be different for each dealer. This makes the billing of blocks of OBD devices that much more complex. EarnBill excels in tracking such complex billing use cases and manages each dealer’s pricing and rating differently.

EarnBill’s comprehensive inventory management, product catalogue, pricing models, subscription management and recurring billing solution with customised billing aspects make it easy to implement an IoT billing solution for an IoT platform.

As explained in the above business use case, EarnBill helps with billing and charging of complex billing workflows involved in monetization of IoT solutions. Each IoT solution will require some customization, however the core aspects of an IoT billing software are well covered by EarnBill.