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The Internet of Things (IoT) is a rapidly growing strategic concept with potential for powerful outcomes, especially in terms of customer experience and innovation. The majority of organizations expect IoT initiatives to have a high level of impact on their business over the next five years. However, only 1 in 5 organizations have moved to implement IoT projects. On average, respondents report that 37 percent of organizations’ IoT needs will require support from outside vendors. IoT initiatives are so large in scope that the need for resource augmentation is not unexpected. Getting IoT off the ground will be a multiyear initiative for most organizations, allowing them to learn as they go and develop more defined roadmap as the program progresses. Despite the unknowns and challenges, early adopters of IoT will position themselves to make more strategic and informed decisions.