On this week's Industrial Talk we're onsite at MxD in Chicago and talking to Ricky Singh, VP IoT Americas at Software AG about "Aligning Customer's IoT Strategy with Market Trends ". Get the answers to your "IoT Strategy" questions along with Ricky's unique insight on the “How” on this Industrial Talk interview! Finally, get your exclusive free access to the Industrial Academy and a series on “Why You Need To Podcast” for Greater Success in 2022. All links designed for keeping you current in this rapidly changing Industrial Market. Learn! Grow! Enjoy!

RICKY SINGH'S CONTACT INFORMATION:

Personal LinkedIn: https://www.linkedin.com/in/thatsmrsingh/ Company LinkedIn: https://www.linkedin.com/company/software-ag/ Company Website: https://www.softwareag.com/en_corporate.html

PODCAST VIDEO:

https://youtu.be/Dv0CbbXrC1E

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PODCAST TRANSCRIPT:

SUMMARY KEYWORDS ricky, imts, iot, business, industrial, solving, journey, software, enterprises, challenges, industry, mx, run, technology, machine, spreadsheet, organization, universe, problems, people 00:00 Industrial Talk is brought to you by Armis. Yes, you were in the digital transformation game. Yes, you need to find trusted companies, trusted individuals to help you along with that journey. The Armis platform delivers complete asset intelligence, you know what that means, insights into your connected assets, you're in the digital transformation game, you have to have that insights into what is connected, go to Armis.com Find out more, you will not be disappointed. Also Industry IoT Consortium. At industrial talk, we always talk about education, we always talk about collaboration, we are always talking about innovation. And if you're a business that has any desire to be resilient to the future, you need to be able to educate, collaborate, as well as innovate with other industry professionals. That's a must. Industry IoT Consortium brings that all together, you need to be a part of this community, you need to be connected with these leaders that are all apart the Industry IoT Consortium, go out to iiconsortium.org. Find out more again, you will not be disappointed, you're just going to be happy. 01:16 Welcome to the industrial talk podcast with Scott Mackenzie. Scott is a passionate industry professional dedicated to transferring cutting edge industry focused innovations and trends while highlighting the men and women who keep the world moving. So put on your hard hat, grab your work boots. And let's go around once 01:34 again, thank you very much for joining industrial talk the number one industry related podcast in the universe, Ricky that celebrates industry professionals all around the world, because you are bold, you are brave, you dare greatly you're solving problems, you're collaborating, you're making the world a better place and you're making my life better. Why not celebrate you? Again, if you hear noise in the background, we are broadcasting on site, MxD Chicago, Illinois. And it is an innovation center that is second to none. And sort of outside the glass and people are walking in front of us and the food is great. So we are talking to Ricky Singh. They got that right. He know Software AG is the company. Let's get a car wreck it 02:19 great to be here with you, man. 02:21 That's cool. It is I was all excited. 02:23 I woke giddy. That's showing the universe 02:26 and the universe. And I'm telling you I'm not I'm not. Webb Telescope 02:29 has really changed the definition of IMTS. I did you see that? I did. That's why I'm saying coolest show in the universe. And I'm just zooming out in my head and thinking I am on the coolest show in the universe. 02:42 Yeah, but I stopped at that same booth. And I just said, You don't understand. Yeah, you're right there. This is web. And this is the web camera. All right. For the listeners out there, Ricky, give us a little background on who you are. And then we're going to talk a little bit about Software AG. 02:57 I like you, Scott, I'm a problem solver. I have been in Software AG a year I run our IoT and analytics practice in the Americas. Software AG is a connected enterprise truly connect, we empower truly connected enterprises through our software products. As I was telling you, before we got started, the Ag part is really the equivalent of, you know, an agency or an LLC. So the company's name is software, which is pretty phenomenal. Exactly. And the type of software that we really give to enterprises to help them enable their missions has evolved over the centuries, right? So 53 year old software company solving very different challenges in 2020, than we were in the 1950s. Yeah, but today, we're really focused on what I would summarize as sort of integration challenges, right? We're helping companies integrate data, we're helping them integrate data from new things, which is where our IoT platform comes in. We're helping them integrate processes, which you mentioned more, most problems are human problems. Yeah. How do you bring those things together, and especially in the context of manufacturing, start to change the types of outcomes that make investments in digital technologies worthwhile? I find it you know, I love my job. I waking up every I love waking up every day and solving new challenges. And it's exciting. 04:15 See what's interesting, too, because it is there's their legacy systems out there. And everybody talks about the, the the beautiful future of digital transforming their business, it's, it's great, okay, it's all out there. It's all technology, you got to figure one, get better be engaged and figure out where do you want to fit, but always educate. But we rarely talk about that integration because you have you have businesses that have what 75 legacy systems in a spreadsheet and somebody they're over there doing it on a WordPress 04:48 Yep. I think 75 is a very conservative number, right? In most enterprises, especially in today's day and age where SAS is so prevalent and relevant. You have even more than that. I think I read some recently north of 150 software applications that most enterprises are running. And you contrast that with some of these very traditional manufacturing environments that have run the same way for 50 6070 years that are running on spreadsheets that are looking at equipment effectiveness as Oh, my God did the machine turn on the next morning when it was supposed to. And it is surprising. See, 05:23 see for me, if typical organizations have about 150 legacy systems, and they're doing whatever they're doing, and they're delivering the value of the service, and the, the whatever it is for the organization, when you come to me, if you're knocking on my door and said, Hi, I'm Ricky, I got a solution for you that will help simplify. I'm telling you right now. Where do I even start? Like, where, What? What? 05:50 So I always, we mentioned earlier, technology being almost the easy part now is really starting with, Hey, what are the pain points? What are the problems that you're looking to solve? And I know, I like to refer to IoT. I'm sure maybe you come across this trying to explain to somebody that doesn't know what IoT is, what IoT is, is quite the task. And I sometimes describe it as some the hammer looking for the nail, right? Hey, we can solve any problem with it. But what are the nails? What are the pain points that you're struggling with? Is it worker safety? When you're having too many workplace accidents? Is it downtime in your production line, that you're not able to ship the amount of product that you'd like? Is it quality of the product, if you're shipping the volumes, it's not it's coming back three months later to bite you in the bud? Let's start with what are the levers that can meaningfully drive either operational efficiency or new revenue streams in your business. And then let's back into the technology that can solve those challenges. And the commercial model that makes that investment worth your watch. 06:46 See, I agree with you 100%. And, and I think that businesses manufacturers out there have just got to recognize that this is here. And if you don't begin that journey, and and learn and find whatever it is, no matter how painful it is, your competition is going to do it. And if you want a business that is truly efficient, and resilient, and has some sort of legacy going forward, you better figure it out. 07:15 I saw so many cool machines while we were at IMTS, who was an understatement, right? I know it was fascinating. But if you look at literally the oil that was running many of those machines, if you asked any one of those manufacturers, do you need that oil to go? But yeah, of course, you can't run my machine without the oil. That is what technology is going to serve. When we say the digital backbone of a truly connected enterprise, they're going to come to a point where they're gonna go of course, of course, I need the oil. Of course, I need the technology because my business will not run without it. That's how I think Seesmic the shift is going to be over the next few years. 07:48 Brilliant, absolutely perfect. Because I agree with you 100%. And, and, and for me, personally, I we have to make it approachable, it can't be full of friction. And you know, I've already got a bunch of headaches and I'm I feel like, but but your organization, your company, your you have to make it simple. When I say simple, it's just adoption has to be there that, 08:19 you know, yeah, and just really having an open conversation I, I tell all of our customers partners prospects, even if our solution isn't the right one for you, I want you to learn something through this journey that helps you find the right direction that you want to go in. But it always starts with what what's the problem, right? And if I ever come across a conversation where it's, oh, I am, you know, part of our innovation team that's focused on science projects and connecting word data that usually tells me that I'm, I'm happy that the customer is looking to invest in innovation, but it's so disconnected from the organization that they're not solving real problems for that you ended up 689 months later. Yeah, we collected more data. Yeah, we integrated applications. But so what, 09:05 how do you how do you deal with maybe some people just I don't even know if I have a problem. I just deal with the pain, whatever that pain is, I don't even know if it is a pain. But how do you get people to recognize that there might be a better way? You'd say, yeah, I gotta do something. 09:22 Yeah, for sure. And depending on what segment and where in the market, they play, I'm, you know, I haven't met one customer that doesn't have some sort of a efficiency challenge, a compliance challenge, or their executive leadership wanting to hit new revenue goals, right? So in that case, if you're not growing, you're dying, right? And if you continue to have challenges as an organization, but you start to ask the types of questions and back to IoT, I feel it's always a progressive journey. We keep painting this Northstar of all equipment as a service and predictive maintenance and you know, Your parts are going to show up at your door before your machine ever breaks down. And yes, there is absolutely a journey that that helps enterprises get there. But even just starting by giving your equipment, a voice, that's what I think IoT is, is giving your machinery the ability to talk to you and tell you what's going on in the field. They are they're doing that today, but they're putting a software engineer on a plane to go to your site and listen to that machine in person right. Now, they may not think that's a pain point. I think that's a big point. Right? What if that talent weaves? What if COVID happens and things shut down? So and I will say one of the silver linings of COVID has been that has shone a light on some of these challenges that can be solved with technology that's affordable, accessible, and can be implemented rapidly, where many of these customers are saying I have that happened to me and happened to me three weeks ago, I didn't think it was a pain point before but it is now. And that journey starts with Okay, now you give your product a voice, then your product tells you what's wrong with it, then you start to design your maintenance procedures from being reactive. And here we're talking about, yeah, you can start to move to a condition based maintenance, that means you can start to sell a different kind of maintenance plan. That means you can start to sell your equipment differently in the future. It's a journey. And that's what kickstarting right started that that, hey, what can you receive value with at the smallest part of that journey is where we like to focus and 11:20 see. And it is a journey? Because you're just, you're you're touching on multiple points that that yes, they are painful. And I think in the past, and here's the education component, that in the past, you just sort of dealt with it, you dealt with the fact that you had 150 doggone legacy systems. And you do, you go over here and get this and then you got to get the data here, and then you put it on a spreadsheet and, you know, spits out a result that those we've really got to push it and go down the road of being able to be more efficient, 11:52 absolute efficiency. Those are the two things that I think it always comes back to is how do we do things better? Or how do we do new things? Right? Doing things better means savings in the bottom line? That means compliance. doing new things means how do we diversify our revenue stream? How do we make money, Louis? 12:10 All right, Ricky, you are fantastic. They're starting to kick off this whatever this open house. Let's go we just rolled right into it. How do people get a hold of 12:18 Ricky that's saying it's all for ag.com Twitter at that's Mr. Singh, or come find me at IMTS if you're still around. 12:24 Wonderful. All right, I'm gonna have all the contact information for Ricky out on industrial talk.com. So I'm sure you got a major in LinkedIn stat cartoon. 12:34 We'll see it's subjective. All right. Once 12:37 again, thank you very much for joining industrial talk. And once again, we're broadcasting from NXT this open house just telling you gotta come to Chicago, visit this place. We're going to have all the wrap up information on the other side. Stay tuned, we will be right back. 12:54 You're listening to the industrial talk Podcast Network. 12:59 All right, once again, as we wrap up another incredible conversation. Thank you to Ricky, thank you for saying yes. And being on industrial talk. Also an extended thank you to those wonderful people out at MxD up in Chicago Innovation Center. That is a place that you must check out if you're in manufacturing, if you're thinking about digitally transforming your business, if you're thinking about cybersecurity, that is your first stop. Without a doubt. That's MxD. All right, we're going to have all the contact information for Ricky out on industrial talk, you knew that. And and one last thing, we have a revenue growth series out there go out to industrial talk, it's free. It's on demand, sort of like the Netflix and we want you to succeed we have to have you succeed. And so whatever education whatever strategies you can deploy to be successful, we're all in go out check that program. It's five parts. We've got sort of an overview. Then we have that corporate side of what that looks like. Sales, Marketing, as well as the technology all there. Enjoy, download it. Take care of business like that. All right, once again, thank you very much. And you need to hang out with people like Ricky because we want you to change the world because you are bold, brave and daring greatly. You educate you collaborate as well as innovate. Thank you very much for what you do. We're gonna have another great conversation shortly. So stay tuned.