DLL has launched a strategy paper to address the Internet of Things (IoT), and the role it could play in its customers’ businesses and the leasing industry at large.

In ‘Tapping into the potential of the Internet of Things’, the Netherlands-based asset finance provider included examples from manufacturing, and emphasised the role of increased collection of data.

Egbert de Jong, vice president strategy and product development, asset management and remarketing at DLL cautioned that the IoT was not a futuristic concept, and urged businesses to adopt a strategy to use it.

He said: “It is happening right now. We believe that to continue to be successful you need to get on board today. We hope this paper will inspire businesses to follow this path and we are ready to support them along the road.”

DLL said that innovation in IoT will be driven from younger generations, and stated its interest in understanding the opportunities it offered businesses and the leasing industry.

The lessor said that IoT could help it to develop financial solutions, and facilitate better portfolio management, as relevant data could be used to better predict replacements and provide updates when needed.

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De Jong added: “IoT basically makes manufacturers better at the things they do by enabling them to provide better customer service, new and innovative products, digital tools and in the end, enhancing their competitive position in the market.”

DLL became a partner of startup accelerator Startupbootcamp IoT Devices.