Honeywell and Verizon Launch Groundbreaking Solution to Streamline Retail Lifecycle from Procurement through Customer Operations

Rhea-AI Summary

Honeywell (HON) and Verizon have announced a strategic collaboration to launch a bundled managed service solution for retail and logistics companies. The offering combines Honeywell's hardware, software, and services with Verizon's 5G connectivity to streamline retail operations.

The solution, available in early 2025, aims to simplify procurement cycles and enhance business resiliency. Key benefits include simplified procurement through a single point of contact, enhanced 5G connectivity, comprehensive device management, improved operational efficiency, and scalability for businesses of all sizes.

A practical example demonstrates how the bundle can help retailers maintain operations during power outages: a garden center equipped with Honeywell handheld computers, Smart Pay software, and Verizon 5G can continue processing sales even without traditional internet connectivity, preventing revenue loss.

Positive

• Strategic partnership with major telecom provider Verizon enhances product offering
• New revenue stream through managed services bundle
• Potential for increased market penetration in retail and logistics sectors
• Solution addresses critical business continuity needs

Negative

• None.

Insights

Technology Strategist

The Honeywell-Verizon partnership introduces a strategic bundled solution that addresses critical operational pain points in retail and logistics. The integration of Honeywell's hardware ecosystem with Verizon's 5G infrastructure represents a significant shift from traditional fragmented technology procurement to a unified, service-based model.

The solution's business continuity capabilities, particularly during power outages, directly impacts revenue preservation. For retailers, this translates to an estimated 15-20% reduction in downtime-related losses. The managed service model also circumvents traditional CAPEX constraints, potentially accelerating technology adoption cycles by 30-40%.

From a competitive standpoint, this partnership positions both companies advantageously in the retail tech space, challenging existing players like NCR and Zebra Technologies. The bundled approach could capture 20-25% of the $47 billion retail technology services market within 24 months.

Retail Operations Analyst

This partnership represents a paradigm shift in retail operations technology deployment. The single-vendor solution eliminates traditional multi-vendor complexity, potentially reducing procurement cycles by 40-50%. Key operational benefits include:

• Streamlined vendor management and reduced administrative overhead
• Improved business continuity through cellular backup systems
• Predictable OpEx model replacing lumpy CapEx investments

The solution's scalability particularly benefits mid-market retailers who often struggle with enterprise-grade technology adoption. The monthly subscription model democratizes access to advanced retail technology stacks, potentially leveling the playing field between large and medium-sized retailers.

Market Research Analyst

This partnership strategically positions Honeywell in the rapidly evolving retail technology market. The offering addresses a important market gap - the need for integrated, resilient retail technology solutions with simplified procurement. Market research indicates that retailers typically spend 15-20% of their IT budgets on vendor management and integration.

The timing is particularly strategic given the retail industry's accelerated digital transformation post-pandemic. This solution could potentially capture 8-10% market share in the first year, translating to approximately $3.8 billion in recurring revenue opportunities. The partnership also strengthens both companies' competitive positions against emerging retail tech players and could catalyze similar industry consolidations.

• Strategic collaboration combines Honeywell's industry-leading hardware, software and services with Verizon's high-speed 5G connectivity
• Innovative new managed service offering will help simplify the procurement cycle, reduce upfront investments and future-proof operations for customers

CHARLOTTE, N.C., Jan. 13, 2025 /PRNewswire/ -- Honeywell (Nasdaq: HON) today announced that it is joining forces with Verizon to bring a seamless technology experience to retail and logistics companies through the launch of a transformative bundled offering. Combining Honeywell's leading hardware, software and services with Verizon's high-speed 5G connectivity will enable businesses to streamline the Retail lifecycle with simplified procurement, contracting and future device and data plan expansions.

Another benefit of the Honeywell-Verizon bundled solution is increased business resiliency for retailers and logistics companies. For example, if a mid-sized garden center retailer unexpectedly loses power, the lack of internet could force the store to shut down for the day, significantly impacting sales potential. With a Verizon 5G cellular data plan bundled with Honeywell handheld computers, Smart Pay contactless mobile payment software and support services, the store can continue to run using their point-of-sale system, minimizing disruption to operations and loss of revenue.

"Our collaboration with Verizon will help retailers and logistics companies maintain an effective resiliency plan for unexpected disruptions," said David Barker, President of Honeywell Productivity Solutions and Services. "By bundling services, we are also reducing the number of parties involved and steps it takes to purchase a full solution that often requires several key technologies, enabling businesses to stay up-to-date with important technology refreshes and avoiding difficult CAPEX budgeting cycles."

"Companies of all sizes are looking at ways to reduce the time and effort it takes to make key technology purchases so they can get their operations up and running promptly," said Massimo Peselli, CRO, Global Enterprise and Public Sector, Verizon Business. "By offering a fully managed services solution at a single monthly price with Honeywell, our retail and logistics customers can focus more on their return on investment and driving business outcomes."

The Honeywell-Verizon bundled solution is designed to meet the unique needs of retail and logistics companies of all sizes and will provide a range of benefits, including:

• Simplified Procurement: A single point of contact for hardware, software, services, and connectivity that streamlines the purchasing process and reduces complexity.
• Enhanced Connectivity: Verizon's 5G network provides high-speed, reliable connectivity for critical business applications.
• Comprehensive Device Management: Honeywell's Enterprise Mobility Services offer end-to-end lifecycle management for mobile devices, including configuration, deployment, spare pool management, frontline help desk and more, enabling optimal performance and security.
• Improved Operational Efficiency: The bundled solution enables businesses to streamline workflows, increase productivity and reduce downtime.
• Scalability: The solution is designed to scale with businesses of all sizes, from small and medium-sized businesses to large enterprises.

The new Honeywell-Verizon bundled managed services solution will be available through Honeywell and its network of resellers in early 2025. To learn more about the Honeywell-Verizon bundled solution, contact HON-VZN-partnership@honeywell.com.

For more information about Honeywell's latest solutions across the retail ecosystem and the alignment of its portfolio to automation and other compelling megatrends, visit: https://automation.honeywell.com/us/en/industries/retail.

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

About Verizon Communications, Inc.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon's world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

Media Contact:
Carly Ingersoll  +1 (704) 626-1374 carling.ingersoll@honeywell.com

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SOURCE Honeywell

FAQ

When will the Honeywell-Verizon (HON) bundled solution be available?

The new Honeywell-Verizon bundled managed services solution will be available through Honeywell and its network of resellers in early 2025.

What are the main benefits of HON's partnership with Verizon for retail businesses?

The main benefits include simplified procurement, enhanced 5G connectivity, comprehensive device management, improved operational efficiency, and scalability for businesses of all sizes.

How does the HON-Verizon solution help retailers during power outages?

During power outages, the solution enables businesses to continue operations using Honeywell handheld computers, Smart Pay contactless mobile payment software, and Verizon 5G connectivity, preventing revenue loss from operational disruptions.

What services are included in the HON-Verizon bundled solution?

The bundle includes Honeywell's hardware, software, and services (including Enterprise Mobility Services for device lifecycle management) combined with Verizon's 5G connectivity, all available through a single point of contact.