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Why SmartMore's Business Model is so successful?

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SmartMore’s Company Overview


SmartMore is a leading-edge technology company specializing in the development of artificial intelligence (AI) and machine learning (ML) solutions. With a strong commitment to innovation and excellence, SmartMore is dedicated to transforming the way businesses operate by integrating advanced technologies into their day-to-day operations. The company's extensive portfolio includes AI-powered software, machine learning algorithms, data analytics tools, and automation solutions. These offerings are designed to enhance efficiency, boost productivity, and drive growth for businesses across various industries, including healthcare, finance, retail, and manufacturing. SmartMore's business model revolves around providing AI and ML solutions as a service. The company develops and licenses its proprietary software and algorithms to businesses, offering them the capability to automate their processes, make data-driven decisions, and achieve operational excellence. This model allows SmartMore to maintain a steady stream of revenue while continuously innovating and improving its offerings based on customer feedback and market trends. The revenue model of SmartMore is primarily based on a subscription-based service. Clients pay a recurring fee to access and use the company's AI and ML solutions. This fee varies depending on the scale and complexity of the solutions provided. In addition to this, SmartMore also generates revenue from customizing its solutions to meet specific client needs and from providing technical support and consulting services. This diversified revenue model ensures a steady income flow while allowing the company to cater to a wide range of customer needs and market demands.

https://global.smartmore.com/

Country: China

Foundations date: 2015

Type: Private

Sector: Technology

Categories: Manufacturing


SmartMore’s Customer Needs


Social impact:

Life changing: motivation, affiliation/belonging

Emotional: design/aesthetics, wellness, provides access

Functional: saves time, simplifies, organizes, integrates, connects, reduces effort, reduces cost, quality


SmartMore’s Related Competitors



SmartMore’s Business Operations


3D printing:

3D printing, so-called additive manufacturing (AM), relates to methods used to build a three-dimensional item by forming successive layers of material under computer control. It has already transformed prototyping, and we are beginning to see the technology's promise in mass customization, medical, and home usage. Engineering, architectural, medical, industrial design, and construction are just a few industries that utilize 3D printers.

Digitization:

This pattern is based on the capacity to convert current goods or services into digital versions, which have several benefits over intangible products, including increased accessibility and speed of distribution. In an ideal world, the digitalization of a product or service would occur without compromising the consumer value proposition. In other words, efficiency and multiplication achieved via digitalization do not detract from the consumer's perceived value. Being digitally sustainable encompasses all aspects of sustaining the institutional framework for developing and maintaining digital objects and resources and ensuring their long-term survival.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Combining data within and across industries:

How can data from other sources be integrated to generate additional value? The science of big data, combined with emerging IT standards that enable improved data integration, enables new information coordination across businesses or sectors. As a result, intelligent executives across industries will see big data for what it is: a revolution in management. However, as with any other significant organizational transformation, the difficulties associated with becoming a big data-enabled company may be tremendous and require hands-on?or, in some instances, hands-off?leadership.

Direct selling:

Direct selling refers to a situation in which a company's goods are immediately accessible from the manufacturer or service provider rather than via intermediate channels. The business avoids the retail margin and any extra expenses connected with the intermediaries in this manner. These savings may be passed on to the client, establishing a consistent sales experience. Furthermore, such intimate touch may help to strengthen client connections. Finally, direct selling benefits consumers by providing convenience and service, such as personal demonstrations and explanations of goods, home delivery, and substantial satisfaction guarantees.

Ecosystem:

A business ecosystem is a collection of related entities ? suppliers, distributors, customers, rivals, and government agencies ? collaborating and providing a particular product or service. The concept is that each entity in the ecosystem influences and is impacted by the others, resulting in an ever-changing connection. Therefore, each entity must be adaptive and flexible to live, much like a biological ecosystem. These connections are often backed by a shared technical platform and are based on the flow of information, resources, and artifacts in the software ecosystem.

Technology trends:

New technologies that are now being created or produced in the next five to ten years will significantly change the economic and social landscape. These include but are not limited to information technology, wireless data transmission, human-machine connection, on-demand printing, biotechnology, and sophisticated robotics.

Knowledge and time:

It performs qualitative and quantitative analysis to determine the effectiveness of management choices in the public and private sectors. Widely regarded as the world's most renowned management consulting firm. Descriptive knowledge, also called declarative knowledge or propositional knowledge, is a subset of information represented in declarative sentences or indicative propositions by definition. This differentiates specific knowledge from what is usually referred to as know-how or procedural knowledge, as well as knowledge of or acquaintance knowledge.

Product innovation:

Product innovation is the process of developing and introducing a new or better version of an existing product or service. This is a broader definition of innovation than the generally recognized definition, which includes creating new goods that are considered innovative in this context. For example, Apple launched a succession of successful new products and services in 2001?the iPod, the iTunes online music service, and the iPhone?which catapulted the firm to the top of its industry.

Solution provider:

A solution provider consolidates all goods and services in a particular domain into a single point of contact. As a result, the client is supplied with a unique know-how to improve efficiency and performance. As a Solution Provider, a business may avoid revenue loss by broadening the scope of the service it offers, which adds value to the product. Additionally, close client interaction enables a better understanding of the customer's habits and requirements, enhancing goods and services.

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