RichWay wanted to use analytics and the cloud to transform its traditional fee-for-deployment and product model into a subscription-based service model and lower solution development costs.
The cloud-based Internet of Things (IoT) platform offers services such as data visualization, which uses geographical mapping to display the latest water conditions and levels to help local agencies manage water supply more efficiently.
reductionin equipment connection downtime by shortening configuration time and enabling automatic connection
cost savingsfor operations, maintenance and application development in a cloud delivery model
increasein data accuracy rate through analytics capabilities that make automatic data error corrections
Business challenge story
sophisticated capabilities needed
Despite its deep expertise in water and water resource conservancy management, RichWay still came up short in the technological capabilities needed to develop advanced solutions and transform its business model. The company wanted to ride the wave of cloud computing and analytics technology to secure its leading position in the water resources sector. RichWay's core businesses are sales of remote terminal units (RTUs) and delivery of water resource management systems. Though the organization did not set measurable objectives before entering into the engagement, the goal was crystal clear: use the cloud to move the company to a services-oriented business model.<br><br>
Creating revenue-generating cloud platform
RichWay knew it had to adopt innovative technologies to transform its business and create the first revenue-generating platform in China’s water management sector. The cloud-based Internet of Things (IoT) platform comes at a particularly critical time since the Chinese government recently invested roughly RMB100 billion in sensor installation for monitoring waterways and floods. The industry needs an effective and efficient way to make use of all the data and generate value from data insights. Being the first mover in this area is expected to help reinforce RichWay's leadership. The organization deployed a data model library management platform that uses analytics capabilities and establishes networking protocols and data standards that are expected to become the next-generation standards for water resource management in China. The solution relies on social media and mobile technologies to speed workflow and enables RichWay to provide services such as flood disaster control, city flood control, flood risk analysis, and water quantity and quality monitoring.<br><br>
Common IoT communication protocol
Since the launch of the beta version of the IoT platform, RichWay has realized several major benefits. The implementation of a common IoT communication protocol has reduced equipment connection downtime by 20 percent by shortening configuration time and enabling automatic connection of new devices to the IoT. Through the cloud, workflow has been substantially streamlined, from equipment connect, data capture, environmental monitoring and analysis, to event responses, eliminating 80 percent of the development work required for solution delivery. The company has also cut costs by 50 percent in operations, maintenance and application development under the cloud delivery model. And data analytics technology features automatic data error identification and correction, increasing the data accuracy rate by up to 30 percent. <br><br>Game-changing outcome - <br><br>By providing a user-friendly, plug-and-play cloud solution, RichWay hopes to convince local, county-level water agencies—which generally have lower IT skills—to move to the cloud to replace the current on-premises monitoring approach and reap the benefits of a best-in-class solution solution that provides insights into managing water quality and supply at a lower cost.<br><br>Before-after impact - <br><br>With more customers shifting to the cloud, the firm now seeks to further its business model transformation from the traditional fee-for-deployment and product model into a subscription-based service model. Instead of selling its telemetry devices, RichWay can now offer the monitoring equipment for free to service subscriptions or charge other device vendors for using the programming model of the cloud platform to develop applications for their customers. <br><br>Systems of record, insight, or engagement - <br><br>The cloud-based solution created a system of insight that is helping drive business model transformation through a new market approach and is expected to generate sustainable streams of revenue for RichWay.<br><br>
About Beijing Jianghe RichWay Technology Development Co., Ltd.
Beijing Jianghe RichWay Technology Development Co., Ltd., also known as RichWay, was established in 1998 in the People’s Republic of China. The Beijing-based organization is now the leading solution provider in China’s water conservancy market, with more than 200 employees. RichWay has a strong relationship with the Ministry of Water Resources and provincial and municipal water agencies throughout the country.
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