By Sumair Dutta, Sr. Director of Customer and Market Insights at ServiceMax
The movement to outcomes-based services and equipment-as-a-service (EaaS) models continues. In the industrial space, organizations continue to equip themselves with the digital tools and capabilities to successfully deliver on outcomes. There is much to be done to enhance the design of products and equipment to enable the effective delivery of outcomes. More so, organizations must also reshape their selling, marketing, financing, and servicing models and undertake a transformation that is daunting in nature.
Progress continues to be slow. The decision to at least pilot outcome-based models might seem like a simple one, but business leaders have been slow to pull the trigger. The short-term loss experienced in capital revenues is hard to justify and plan for even though the long-term impact may be more profitable. Swallowing the fish (as coined by TSIA) is a very real challenge