Prateek Shukla: Making businesses profitable with his effective IoT solutions

Internet of Things (IoT), which can also be translated as the interconnected network of smart devices, has brought a paradigm shift in the field of business operations. Businesses all around the world now use IoT devices to automate every aspect of their supply chain. Riding on the ability to connect most of the assets, IoT gives access to valuable data and analytics which the business can utilize strategically in their favor.

According to McKinsey Digital, 127 new devices hook up to the internet for the first time every second.  In fact, Forbes estimates that the number of cellular IoT connections is expected to reach 3.5 billion by 2023. Such impressive data alone proves the future potential of IoT technology to revolutionize the industrial sector. Being a tech-enthusiast, Prateek Shukla was ahead of their peers to unearth the future possibilities of IoT and decided to seek growth in the Indian IoT market.

The initial days of his entrepreneurial journey in the market were not really what everyone looks for. Owing to his inexperience in the marketplace and lack of market knowledge, he fell short in terms of producing new and unique business ideas. However, his entrepreneurial zeal kept him steady throughout his struggling days. He, in fact, left no stones unturned to acquire the market expertise he required to set up his new IoT business. Eventually, he collaborated with his current business partner Sandeep Parira to bootstrap his first IoT venture Altorum Leren. With this innovative IoT firm, he aimed at developing cutting-edge IoT products to support businesses in monitoring their business operations.

An IoT ecosystem opens a new dimension of data generation, collection, analysis, and utilization for businesses. It does not only resolve nagging operational issues but also eliminates the time-consuming and repetitive tasks altogether. Through the proper integration of IoT applications, businesses also can witness better inventory and logistics management which in turn reflect in their reduced production costs. Prateek’s Altorum Leren focuses on bringing unique solutions to the IoT market so that businesses can generate better ROI with such products. The IoT solution agency has already launched a first-gen SaaS platform for IoT called Alfinity which is powered by Edge computing and Artificial Intelligence (AI). Using this product, the companies can maximize their efficiency in resource management and asset monitoring.

Sharing his thoughts on IoT and automation, Prateek comments, “Proper monitoring of the supply chain and automation of the supply management are the most effective ways to eliminate the threat of losing revenue. From a customer perspective also, IoT connectivity smoothens every step of their purchasing experience. So, there cannot be any alternative to IoT solutions if a company wants to thrive and constantly grow in this age of digital advancement. IoT connectivity adds value to the businesses of every scale and every sector allowing them to scale the game.”            

Prateek’s business efforts have already gained market recognition following this association with several successful government and non-government associations.  He has even been awarded the prestigious title of ‘Automation Technology Provider of the Year’ by NITI Aayog (Government of India) during the Global Artificial Intelligence Summit held on September 29th. However, Prateek refuses to get overwhelmed by his success and is committed to continuing serving the industrial landscape with Altorum Leren.

Disclaimer: No Deccan Chronicle journalist was involved in creating this content. The group also takes no responsibility for this content.