Lexmark Reinvents How Manufacturers Use IoT with Launch of Optra IoT Solutions

LEXINGTON, Ky., Sept. 29, 2021 /PRNewswire/ — At the IoT Tech Expo North America virtual event today, Lexmark, a global technology solutions leader, announced a new portfolio of proven solutions to help customers quickly unlock the value of the Internet of Things (IoT), accelerate digital transformation and realize business outcomes. Lexmark Optra IoT Solutions leverage the company’s industry-leading cloud, IoT and connectivity technologies and expertise, supported by its heritage as a maker of connected devices and long-time leader in managed services.

“We believe IoT has the power to transform all types of industries. Companies only need the right tools to harness it, enabling them to grow and innovate,” said Allen Waugerman, president and CEO of Lexmark. “Lexmark figured it out. We unleashed the power of IoT and built a solution that we have used for years in our own business to achieve measurable benefits for our customers and ourselves. Lexmark Optra IoT Solutions can do the same for other companies.”

The first offering, available today, is the Lexmark Optra IoT Platform, a ready-made IoT solution to help customers jumpstart their business transformation, creating better products and more advanced services at lower costs.

Connect data and accelerate results with IoT

McKinsey estimates 84% of companies working on IoT are stuck in pilot mode. Compounding this situation is the vast amount of data that exists in silos across business applications and beyond the organization’s walls. Due to these complexities, uncovering actionable insights from the data is extremely difficult.

Lexmark built an IoT platform to run its award-winning global managed print services business, a leader in the industry. The platform successfully harnesses performance and sensor data from the devices that Lexmark manufactures and manages, combining it with data from core business systems to deliver powerful insights. The company is also able to drive internal and external customer value through outcomes including predictive services, asset optimization, systemic innovation and as-a-service engagements. Lexmark remotely resolves device support issues 70% of the time and has substantially increased profitability per device via optimized utilization.

With the Optra IoT Platform, Lexmark brings the ability to harness IoT and achieve business outcomes to makers of connected devices beyond print. The solution includes:

  • An engineered platform built on leading technologies that enables manufacturers to combine and operationalize siloed data from connected devices and core business systems.
  • A suite of accelerators including algorithms, machine learning and artificial intelligence models, reporting dashboards, and business process templates that fast-track insights and efficiencies and speed implementation, quickly delivering business value.
  • A team of dedicated consultants who will use their expertise to help customers realize the full value of their investment and navigate their IoT journey.

“The Optra IoT Platform is ready-made and proven, enabling makers of connected devices to quickly implement and rapidly achieve outcomes that bring them further success,” said Vishal Gupta, Lexmark chief information and technology officer. “Lexmark is reinventing how manufacturers leverage IoT to transform their business.”

The Optra IoT Platform is available now in North America and select markets in Europe.

Lexmark plans to expand Optra IoT Solutions over time.

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