CHICAGO–(Business Wire)–While roughly two-thirds of manufacturers believe that the Internet of Things (IoT) will increase their profitability, they are lagging in two critical areas to maximize their IoT opportunities: cybersecurity and research and development (R&D) credits.
Exclusive findings from the MPI Internet of Things Study, sponsored by BDO, uncovered:
- Nearly half of manufacturers (49 percent) are unsure or not confident in their ability to prevent a cybersecurity breach at their company.
- A vast majority of manufacturers (84 percent) are not planning to take advantage of tax credits and incentives, like the R&D tax credit, available for IoT investments.
“Manufacturers agree that IoT is a groundbreaking opportunity for advancement in the manufacturing industry,” said Rick Schreiber, partner and national leader of BDO’s Manufacturing & Distribution Practice. “But they have some catching up to do in order to fully capitalize on IoT’s potential. Shoring up security in the wake of newly connected systems and products and taking advantage of the newly permanent R&D credit are critical steps.” For the full article click here
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