Boston, May 29, 2014: Soon, petrol pumps will be part of the Internet of Things (IoT) network. IT company LogMeIn today announced that it had been selected by Verdeva, Inc. a vehicle/driver information services innovator, to help the latter implement its plan of turning gas pumps into Internet-connected transaction stations.
Verdeva’s Efficient Vehicle Assessor (EVA) was designed to make it easy for insurers to implement lower-cost mileage-based policies, for consumers to pay motor vehicles fees, and for fuel retailers to gain new revenue streams.
“Visionary startups like Verdeva see the IoT as a means of disruption and opportunity, and like most IoT pioneers, they’re looking to quickly parlay the learnings from early rollouts into transformative commercial offerings. We’re delighted to partner with them to help accelerate this time to value,” said Chad Jones, VP, Internet of Things Strategy, LogMeIn.
Under the initiative, Verdeva will be leveraging LogMeIn’s Xively IoT platform, a Platform-as-a-Service (PaaS) designed to help companies accelerate IoT initiatives. The company will also tap into the expertise of Xively Professional Services, a team of experienced IoT service providers that can help companies combine revolutionary cloud-connected devices, elegant mobile and web apps, and comprehensive CRM/ERP systems into fully-integrated IoT solutions. The Xively IoT platform is built on LogMeIn’s proven, highly-scalable Gravity cloud infrastructure — which supports millions of secure connections between people, devices and data across the globe.
By using Xively, Verdeva expects to accelerate time-to-market of its Internet-connected gas pump solution by six months and realize the following benefits:
- Optimize service chain and reduce originally anticipated support costs by 50%
- Xively’s Salesforce integration will enable EVA devices to self-report and automatically trigger tickets that specify problems.
- Make it easy for insurers to implement mileage-based policies
Verdeva said it also expected to create more revenue channels for its partners via extremely simple transactions that haven’t been possible previously. For instance, consumers can be prompted to pay DMV fees from the convenience of their car, governments can collect that revenue in an automated way, and fuel retailers can get a cut of every transaction, potentially increasing their profit margins by 70 percent or more.
Image Credit; Verdeva
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