Monetization is essentially a critical piece of a business model. It is the process of deriving revenue from the value you offer to your users. With examples of how UL Solutions monetizes (both past and present), Carlos showcased several value driving models based on the Board of Innovation’s (BOI) flow representation for each use case. We also had a hands-on workshop to model and map all the different players involved in the exchange.Albeit we plan to create amazing products at Numorpho Cybernetic Systems (NUMO), we are not a products company. Our goal is to concert an ecosystem that coordinates processes end-to-end to enable harmonization and optimization of all activities in the new paradigm of Industry 4.0 and beyond. Our products and services will help to prove and improve the ecosystem and provide value additions for our customers in terms of service availability, over-the-air updates and new features addition.

Stay tuned for the different ways we plan to monetize our products by including data services and other new ecommerce paradigms to excite and delight our customers both B2B and B2C.

UL: We bring safety science to life
BOI: We are many voices with a single vision – to make what life needs next.

nitin.uchil@numorpho.com