Exosite Licenses IoT Technology to West Pharmaceutical Services, Inc.: West will utilize Exosite software and solutions to accelerate its digital transformation initiatives in the healthcare marketplace.
In today’s fast-paced world, people expect personalized information and services in the moment across almost every aspect of their lives — and especially when it comes to technology. Modern applications need to be fast and smart to stay ahead. Yet, despite this growing need for speed and personalization, many companies are clinging to legacy data infrastructures built on traditional relational database management systems (RDBMSes) that do not provide the necessary scale, data management at the edge, and virtual/cloud deployment capabilities required to keep pace with digital transformation strategies.
The internet of things is one of the biggest market drivers for retiring these legacy systems. Most legacy data infrastructures simply cannot meet the stringent requirements to power IoT applications and respond to the explosive growth in connected devices. In Gartner’s most recent IoT report, it predicts that the number of connected devices in use will grow rapidly throughout the next couple of years. Organizations are dealing with millions, if not billions, of connected assets that are streaming vast amounts of data into the enterprise every second. Simply capturing, processing and analyzing all this data poses a huge challenge on its own — but more importantly, organizations need to then make that information useful by applying the insights to their business. The most powerful IoT applications need to be able to ingest the data and then make decisions on that data in real time. Smart meters that monitor usage and conditions, such as weather, for example, must be able to adjust the price of services according to usage and conditions that can change in an instant.
Looking specifically at industrial IoT, organizations are deploying sensor technology that provides automation and drives long-term cost efficiencies. However, many companies are sticking to their legacy data infrastructures built on traditional RDBMSes that simply don’t provide enough bandwidth to bring all the data back to the legacy systems, analyze it and send the results to the edge. In those cases, it’s often too late to make important decisions as the moment of opportunity has passed. Some organizations try to temporarily “fix” the problem by adding NoSQL caches to mask the challenges. However, these legacy systems simply don’t address the additional data volume and velocity issues every digital organization is now facing.
When it comes down to it, legacy systems do not have enough bandwidth to push all the data from every single sensor back to the central database, especially in a timely manner. This is not just cost prohibitive, but also legacy RDBMSes cannot grow to handle such astronomical scale and simply are not fast enough for real-time decision-making when an event like a natural disaster occurs. For these reasons and more, data must be aggregated in the edge layer.
It is clear that legacy systems have no place in the growing IoT ecosystem. Complementing them with real-time alternatives allows organizations to use the most current data when making critical decisions around operations and the customer experience. Manufacturers and other organizations must be able to stream data from their connected devices and equipment to help improve operational efficiencies and productivity, and reduce costs, while also gaining important insights to help shape business decisions and assess risks. As the amount of data generated by IoT devices continues to climb, having an agile, end-to-end IoT architecture that can both support real-time streaming analytics and scale to handle large volumes of data will only become more vital. In the end, all of the insights being driven by IoT data mean nothing unless organizations can apply them to their businesses before opportunities are lost.
Thus, Exosite LLC, a leading provider in the Industrial Internet of Things (IIoT) market, today announced that it has licensed use of certain software technology and solutions to West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration. West will utilize Exosite’s IoT technology to support and accelerate its digital transformation initiatives. The two organizations will also collaborate on a Digital Technology Center for West in Taiwan that is scheduled to open in June 2020.
A proven leader in IoT, Exosite is an enterprise software provider that enables the world’s leading manufacturers with IoT technology and solutions that accelerate connected-product development and support a digital strategy for long-term success. Exosite’s technologies have been validated in highly regulated markets similar to West’s and deployed in a variety of public and private cloud environments. These proven technologies help companies like West provide new value to customers and stakeholders through digital monitoring and innovation.
"We are very pleased to see Exosite technologies deployed broadly across the healthcare marketplace," said Hans Rempel, CEO, Exosite. “I'm confident that our mature technologies will contribute significantly to West's digital transformation initiatives, and I look forward to the collaboration between our organizations in the coming years."
Going forward, Exosite will provide support for West’s Digital Technology Center and other regional customers through its teams in both Taiwan and Minneapolis. As an organization, Exosite will continue to expand its zero-barrier IIoT applications, like ExoSense® and ExoHome®, and its off-the-shelf vertical solutions offering best-in-class features that enable organizations to quickly deploy connected solutions.
About Exosite
Since 2009, Exosite LLC, has pioneered IoT software solutions. Based in Minneapolis, with offices around the globe, the Exosite team possesses a wealth of experience and expertise in IoT technology and business strategy. Exosite engages with leading manufacturers, providing complete connected solutions, an enterprise software platform, and a rich ecosystem of tools and partnerships to quickly guide connected-product concepts to marketable IoT applications. Visit www.exosite.com to learn more about how Exosite powers digital transformation.
About West
West Pharmaceutical Services, Inc. is a leading manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. Working by the side of its customers from concept to patient, West creates products that promote the efficiency, reliability and safety of the world's pharmaceutical drug supply. West is headquartered in Exton, Pennsylvania, and supports its customers from locations in North and South America, Europe, Asia and Australia. West's 2019 net sales of $1.84 billion reflect the daily use of approximately 100 million of its components and devices, which are designed to improve the delivery of healthcare to patients around the world. Visit https://www.westpharma.com to learn more.
