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Over the last decade, enterprise software has evolved tremendously and has transcended global businesses from materials requirements planning to enterprise resource planning and from on-premise systems to the cloud. Today, the ever-changing landscape is witnessing another shift of sands, as companies worldwide are venturing into the IoT to build advanced data integrated enterprise software. IoT data plays a significant role in organizations’ digital transformation as it is driving new insights into how assets and products are performing in near real time. If these insights are leveraged, it can drive new business models and opportunities. Many companies are investing heavily in the research and development of IoT to go beyond using data from connected devices for analysis. There are possibilities to trigger business transactions and processes in enterprise software, automating workflow processes throughout the organization. 