Bitcoin has emerged as one of the hottest technology topics in the 21st century. While bitcoin is great for grabbing headlines, many technology experts believe blockchain, the software methodology that powers bitcoin, will be utilized across multiple industries in the future.

The Internet of Things (IoT) concept involves connecting any device with an on and off switch to the Internet and other integral systems. From cell phones and wearable technolog to home appliances and now industrial machines, technology is becoming smarter and causing entire industries to evolve.

When you consider the applications of innovative technology to business success, it is unlikely that equipment financing is the first concept that comes to mind. However, equipment financing has become a critical asset to the financial success and performance capabilities of today’s manufacturing operations.

Following the rapid success of Software-as-a-Service in the IT platform, Hardware-as-a-Service, or HaaS, has the potential to become new trend in the manufacturing world. The recent advances in technology and the new highly intelligent cyber-physical systems can change the way revenue is generated for original equipment manufacturers.