For Sani Matic, a rapid implementation of remote service use cases enabled 25-60% faster time-to-value
Elekta achieved peak scalability using connected service, allowing the device manufacturer to expand 50-fold
The Service Paradox:
While the worker shortage grows, so does the service industry.
Expecting the Unexpected:
Change is inevitable – but service leaders are confident digital transformation will help them keep up.
According to the 2024 Service Leader’s Agenda survey, 64% of respondents say the workforce and talent shortage will have the most significant impact on their business in 2024, but...
On average, the number of installation, maintenance and repair jobs is expected to grow 5% by 2032, outpacing the average for all occupations.
According to the 2024 Service Leader’s Agenda survey, the top challenge for service leaders is currently the lack of resources to support service demand, with 43% indicating that this will have the most significant impact on their business this year, but…
Attracting and retaining a quality workforce is a top focus for manufacturers, with 95% of Machinery and Industrial Automation experts expecting to change their business models to be successful in the future (McKinsey)
The connected device industry is expected to grow 40% in the next two years. In a traditional service model, growth requires a proportional investment – but with connected service, one initial investment can open the door for continuing growth across the organization.
Connected service offers the promise of bold gains in service optimization.
But success depends on a variety of factors, such as program ownership, change management, and rollout strategy.
Are you positioned for a successful service transformation?
Read our eBook on how to harness to power of smart connected products, minimize risk, and realize meaningful business value:
Connected service solutions are proving highly effective in eliminating blind dispatches and increasing first-time fix rates — delivering reduced operating costs and improved productivity. When you give your technicians better tools for success, they can optimize call planning, reduce truck rolls, and tackle any challenge they may face in the field. By enabling remote diagnostics, ensuring a robust parts inventory, and providing access to off-site expert assistance, reducing mean time to resolution has never been simpler.
How Connected Service Can Help You Achieve Service Excellence
Connected service is often unique to the needs of individual organizations, but OEMs share the same industry-wide challenges. The trends shaping the service landscape underscore the importance of a robust connected strategy.
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Flipping the Script:
How IoT is Transforming the Service Industry
Uncertainty regarding your equipment – how it’s performing, if it’s meeting customer expectations, if it’s efficient and cost-effective – is natural. And with worker shortages, risk and cost pressures, and digital disruption reshaping the service industry, this uncertainty can imperil your competitive advantage. That’s why smart service leaders are turning to a connected service strategy, unlocking key value drivers and transforming their business.
100,000
doctor’s offices
25-60%
faster time-to-value
For Sani-Matic, a rapid implementation of remote service use cases enabled...
Elekta achieved peak scalability using connected service, allowing the device manufacturer to expand 50-fold from 2,000 hospitals to over 100,000 doctor’s offices
to over
allowing the device manufacturer to expand 50-fold
from 2,000 hospitals to over 100,000 doctor’s offices
Reduced downtime and service costs
Improved service efficiency
Heightened customer satisfaction
Enhanced product design and serviceability
Connected business models that provide optimized service for customers
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2,000
hospitals
from
With IIoT solutions, teams can maximize results at their current headcount without taking on additional costs.
Source: The Bureau of Labor Statistics
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With ThingWorx, service executives are implementing a connected service initiative to realize the following:
“Aftermarket offerings can please shareholders by increasing a company’s operational cash flows and reducing its risk... the margins of providing aftermarket services are almost always at least double the margins on sales of new units”
-McKinsey
In the competitive landscape of field service, investing in IoT solutions not only mitigates the risks associated with equipment performance and customer satisfaction but also paves the way for enhanced market opportunities and financial gains, reflecting a strategic shift that can significantly amplify service-related revenue streams.
