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Covisint Adds New Services to the Covisint Cloud Platform to Accelerate Development and Deployment of Internet of Things (IoT) Applications

Summary:

  • Covisint today announced the addition of IoT Messaging and IoT Lifecycle Management Services to its Cloud Platform
  • Unlocking the business value of IoT requires sharing trusted information securely, and at scale with the ecosystem of related people, systems and things around the connected asset
  • Covisint is the only Platform-as-a-Service (PaaS) that combines a complete set of key capabilities required for rapid development and agile operation of IoT applications
  • Covisint has over 12 years of experience in developing, deploying and operating production-critical cloud-native solutions, and has been selected by leading global system integrators as their reference platform for IoT application development

SAN FRANCISCO, Nov. 05, 2015 (GLOBE NEWSWIRE) -- Covisint Corporation (Nasdaq:COVS), the leading Cloud Platform for building Identity and Internet of Things (IoT) applications, today announced the introduction of new IoT services for its Cloud Platform. These new IoT Messaging and Entity Relationship Services, when combined with the platform’s existing advanced enterprise Identity Lifecycle Management Services, accelerate the development of IoT apps for product owners, application developers, and information security professionals. Covisint has deep expertise and leadership in Identity and IoT, with over 12 years building and running connected supply chains, as well as millions of complex connected products for the world’s largest companies.

General-purpose Platforms-as-a-Service are complex, costly, and time-consuming for IoT application development

Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) providers have begun to offer basic building block technologies that – given enough time, money and custom development – can be used to build IoT applications. Yet, general purpose platforms are not easy or cost effective for building high-value IoT solutions. Companies can spend months and millions of dollars using this approach to stand up basic functionality to obtain sensor data from a connected device, but what then? What do you do with that data? How do you turn that data into business value?

“This release of the Covisint Cloud Platform shifts the IoT conversation to what matters most to companies – safely, securely and intelligently distributing data generated from the Internet of Things to the right ecosystem of stakeholders at the right time to create real business value,” said Aaron Aubrecht, Senior Vice President of Products and Marketing at Covisint.

Identity Lifecycle and Entity Relationship Management Services Are Key to IoT Value

Manufacturers are struggling to stay connected to their product after it leaves the factory to help them build better products that are more competitive. However, the real potential of IoT is in transforming the entire value chain around that product by securely sharing the product’s data with the ecosystem around it. Consider three examples:

  • Component suppliers – the dozens of suppliers that make components for a product will benefit from understanding the real operating environment, duty cycles, and failure rates
  • Maintenance organizations – analytics on operational health and triggers on warning signs can create real value through preventative maintenance, as well as expedite unplanned repairs with accelerated diagnostics
  • The Owner / Operator – personalized and portable experiences lead to improved productivity, and enhanced customer loyalty

All of these entities are related in the ecosystem around the product. However, to create real value, the IoT application must both understand the dynamic nature of these relationships, as well as facilitate the secure, auditable exchange of trusted information across the legal boundaries between them.

The Covisint Cloud Platform was purpose-built to enable complex connected product ecosystems. It provides all of the services needed in one proven, cloud-native platform for building IoT applications, to enable the secure sharing of trusted information among connected products, people, systems and things.

New Covisint Cloud Platform Capabilities

To build applications that unlock the true business value of the Internet of Things, Covisint has added three new capabilities to the Platform:

  • IoT Messaging Services – enables intelligent routing of relevant data to IoT entities, including stream processing, event hubs, and event processing, and is built on proven and highly scalable open source technologies

  • IoT Lifecycle Management Services – simplifies the configuration, management and monitoring of IoT entities at scale with templates, attribute modeling, threshold policies and rule-based alerts
  • Entity Relationship Management Services – enables the definition and dynamic management and orchestration of relationships within a connected ecosystem

With these new capabilities, enterprises and developers can now quickly build applications that control, secure, and monitor sophisticated IoT ecosystems. Industrial-grade operational health monitoring applications can be configured with thresholds, policies for alerts, preconfigured command and control, as well as event triggers.

“The rapid growth and adoption of the Internet of Things across industries is driven by digital transformation initiatives, declining cost of sensors, and integration of big data. This is transforming the way people, things, and organizations communicate, collaborate and connect,” said Samir Mehta, VP Sales IoT & Factories of Future at Tech Mahindra. “The gaps in existing IoT platforms on the market are addressed through the Covisint Cloud Platform.”

To learn more on the Covisint Cloud Platform, pricing and availability, or to become a partner, please visit https://developer.covisint.com

About Covisint Corporation

Covisint is the leading Cloud Platform for building Identity and Internet of Things (IoT) applications, and enables the identification, authorization and connection of complex networks of people, processes, systems and things.

Covisint's open, developer-friendly, enterprise-class Cloud Platform facilitates the rapid development and deployment of the Internet of Things (IoT), Identity Management (IdM) and Connected Supply Chain solutions - enabling customers to securely identify, authenticate and connect users, devices, applications and information. Covisint has been successfully operating globally at enterprise scale for more than 12 years. Today, the Covisint Platform enables more than 3,000 organizations to connect with more than 212,000 business partners and customers, and supports more than $4 billion in ecommerce transactions annually. Learn more at www.covisint.com.

Forward-looking Statements
Certain statements in this release that are not historical facts, including those regarding the anticipated ease of use and time to deliver a solution by developers, the expected performance of the Covisint PaaS, the elements of a cloud platform which are necessary to deliver value to customers, and nature of the competition from a technology and market perspective, are “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements represent our outlook only as of the date of this release. While we believe any forward-looking statements we have made are reasonable, actual results could differ materially since the statements are based on our current expectations and are subject to risks and uncertainties. These risks and uncertainties are discussed in the Company’s reports filed with the Securities and Exchange Commission. Readers are cautioned to consider these factors when relying on such forward-looking information. The Company does not undertake, and expressly disclaims any obligation, to update or alter its forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

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Investor Relations Contact 866.319.7659 investors@covisint.com Media Contact Sherbeam Wright Analyst and Media Relations, Covisint 415.780.0208 sherbeam.wright@covisint.com For Sales and Marketing Information Covisint Corporation, 26533 Evergreen Road, Suite 500, Southfield, MI 48076, 800-229-4125 http://www.covisint.com

Source:Covisint Corporation