Ervin Leibovici, CEO Shifting from a tactical sidelight to a strategic growth engine, the Internet of Things (IoT) revolution today is perceived by several enterprises as the largest driver of incremental revenue. This transition has enabled CIOs to differentiate their offerings using novel software-defined, cloud-native products and increase revenue through subscription or recurring based business models. Driven by the competitive pressure of making this digital transformation a necessity, CIOs today are charged with not only fathoming how to build, test, and deliver the new digital products, but are also playing a key role in designing and enabling the new business models.
The unconventional world of cloud-native products is very different from their traditional business counterparts—creating new technological and business challenges. Impacting every line of work, this change has urged CIOs to find the perfect balance between new needs without disrupting the existing business processes. This is where Nurego’s Business Operations (BizOps) solution comes into the limelight. “With Nurego, customers and finance teams gain immense control over how rapidly they innovate their business models, and govern the associated costs using an iterative build-measure-learn-adapt approach, on every major component of their business model. This includes product portfolio, product features, packaging, pricing, customer segments, and distribution channels,” explains Ervin Leibovici, CEO, Nurego.
Nurego’s BizOps alleviates the stress of offering customization, embracing a dynamic business model and a faster cycle that enables quick adaption to market, customer expectations, and ensuring customer loyalty. Its BizOps for IoT subscription businesses takes over where DevOps leaves off. “Nurego easily integrates with existing software or cloud-native products, customer relationship management and billing systems to automate key quote-to-cash processes,” Leibovici says. The firm’s methodical approach to product and business model innovation offers companies a consistent approach to invest, build, test, and launch their digital products and business models with clients.
With Nurego, customers and finance teams gain immense control over how rapidly they innovate their business models and govern the associated costs
Spun-off from EMC Corporation in 2013, Leibovici realized that the world of cloud technology was not just about technology innovation. “This new world also required us to retool our business operations to support the new subscription and recurring revenue models,” he adds. Enabling a smooth transition to digital business, Nurego’s core solution leverages technology incubated at EMC and VMware, as a part of the subscription businesses. In addition, the company’s BizOps integration with the MNC conglomerate GE’s Predix—the cloud platform for the industrial internet—has enabled Nurego to tune their products and cater to the needs of large industrial IoT suppliers. With Nurego, GE’s own product managers and customer-facing teams as well as GE Predix app developers can easily customize, and manage the services being offered, the customers (subscribers) of those services and the industrial assets (“things”) that are actually the ones generating the revenue. The business performance of these assets is the missing link in traditional business operations, which is clueless about their costs and revenues.
In addition to BizOps product, Nurego’s consulting services has empowered several companies, to monetize their business platforms effectively. “Our expertise includes identifying gaps and creating best practices for agile product development, DevOps, packaging, pricing strategies, and developing associated cost models,” says Leibovici. “Our partnership with GE and other IoT ecosystem companies puts us at the forefront of how leading organizations build profitable and sustainable IoT businesses.”
A firm believer in lean methodologies, Nurego focuses on enabling their teams to act with speed, measure with confidence, and scale their business with ease. Having evolved into a vital, digital transformation link for the industrial internet space, “our mission is to build, launch, measure, and optimize this new business, enabling the transformation with the least risk.” With a combination of ‘Nu’—short for new— and ‘rego’—meaning ‘to govern’— Nurego will persist to offer a consistent approach to curb problems associated with revenue, customer engagement, and acquisitions.
