Servitization is one logical step in the transformative journey of how companies work with customers and generate revenue. In the not-too-distant past, a manufacturing company likely focused on the sale of its products — say, an industrial-strength drill — as a stand-alone offering. Service contracts represented a cost to the company. When products failed, it was considered too expensive for a product-focused company to service its own equipment. Companies allowed third-party vendors to provide the service contracts, while the companies generated revenue solely from the products themselves.
Service-driven companies are being tasked with not just creating revenue growth, but generating more profitable revenue growth. Learn how field service management software can enable top-line revenue growth, improved customer retention, and a recurring return on investment.
Despite the rising and rapid pursuit of IoT by companies across virtually every industry, the complexity of this new world of technology continues to outpace its potential. As organizations attempt to navigate the unforeseen intricacies of the IoT ecosystem, challenges arise and businesses suffer from delayed time-to-market, slowed revenue realization, technology incompatibilities, budget overruns, and even complete project failures.
Join 150+ leading manufacturing, operations, technology, supply chain, and advanced engineering executives this July 29 and 30, 2019, at the Hilton Austin for the second annual Connected Manufacturing Forum. Debate on the latest Industry 4.0 trends, challenges, and opportunities.
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