How to Monetize Services with IoT [Excerpt]

Posted by Nicole Dornsife on 2/27/18 5:00 AM

As digital transformation continues to impact the way businesses are run all across the technology and services industry, there are certain factors in this broad concept that deserve a closer look. To further explore the business model impact, new technology, customer outcomes, and monetization aspects of the digital transformation journey, TSIA and Librestream have partnered to create a two-part blog series all about how to digitally transform your services business. TSIA has already had the privilege of speaking with Librestream’s COO, Jereme Pitts, about how the Internet of Things (IoT) and smart, connected products are changing business models, while Librestream spoke with TSIA’s VP of field services and IoT research, Vele Galovski, about monetizing services with IoT. Here’s a brief look at that interview.

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Topics: internet of things (IoT), smart, connected products, digital transformation, remote services continuum, The Role of Digital Transformation Within Services

Welcome New TSIA Members! February Edition

Posted by Andrew Cromey on 2/26/18 9:00 AM

At TSIA, we are dedicated to helping services organizations both large and small grow and advance in the technology industry. We'd like to take the opportunity to welcome our newest members, as well as acknowledge companies already a part of the TSIA community who have recently renewed or expanded their membership to include additional research areas TSIA has to offer. Here's a little bit about each company, in their own words.

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Topics: industrial equipment, SaaS (software-as-a-service), New TSIA Members, software, information technology (IT)

3 Major Trends in Managed Services You Should Know About

Posted by George Humphrey on 2/22/18 5:00 AM

In TSIA’s ongoing mission to track the performance and evolution of managed services, one thing has become abundantly clear: managed services continues to be one of the fastest growing segments of the entire technology industry. More and more manufacturers are expanding their service offers to include managed services as they begin to understand it’s important connection to technology-as-a-service and the Cloud.

In fact, for many TSIA Managed Services members, managed services are a natural extension of their cloud solutions, and vice versa. Not only are manufacturers rapidly embracing managed services, most non-manufacturers are beginning to realize their process and practices are showing serious signs of aging and underinvestment. In this post, I’ll share 3 exciting trends across all managed service providers and what they might mean for your business.

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Topics: customer success, managed services, managed services providers

Why You Shouldn’t Quote Using Spreadsheets

Posted by James Cramer on 2/21/18 5:00 AM

We often ask technology services teams a simple question: “How important is quoting?” The answer is almost always the same: Quoting is very important but it really needs improvement. While the specific problems in quoting differ from company to company, it’s the use of spreadsheets for quoting that, in most cases, is the root cause. In this post, I’m going to cover some of the challenges your company might be facing and provide an alternative to quoting in spreadsheets.  

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Topics: professional services, professional services sales

How to Achieve Business Model Innovation with IoT

Posted by Nicole Dornsife on 2/20/18 5:00 AM

The growing trend of digital transformation is having a huge impact on the way traditional product and service-based businesses are run. But, there are many details within this broader concept that deserve a closer look, particularly its effect on current business models, training processes for field technicians and other staff, and delivering outcomes to customers. To provide an inside look at some of the more critical elements of the digital transformation journey, TSIA and Librestream have partnered to create a two-part blog series all about how to digitally transform your services business.

To get an inside look at how digital transformation is impacting traditional business models in both product and service-based organizations, I spoke with Jereme Pitts, the chief operating officer at Librestream, the leader in developing innovative mobile video collaboration solutions for field services, manufacturing, energy, and the public sector. In this interview, he shares his perspective of digital transformation, how it’s impacting technology and equipment companies, and offers his advice to traditional businesses looking to take on this transformation, both for their benefit and that of their customers. 

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Topics: field service engineer, internet of things (IoT), smart, connected products, digital transformation, smart services, The Role of Digital Transformation Within Services

[Events] Learn from TSIA Experts at These Industry Summits and Conferences

Posted by Tom Anderson on 2/15/18 5:00 AM

Whenever a new trend emerges in the world of technology and services, TSIA is already active in developing new research, frameworks, and expertise around what that trend can mean for your business and the future of our industry. To share their latest insights on customer success, growing customers, improving the customer journey, and improving cross-functional communication within your organization, TSIA executives will be presenting at several upcoming conferences and speaking engagements, including: CCO Summit, Totango’s 2018 Customer Success Summit, Technology Services World San Diego 2018, and Gainsight Pulse 2018. 

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Topics: customer success, technology services, sales, summit, marketing, Technology Services World Conference, TSIA events

Why All Tech Executives Should Care About Blending Service and Sales Motions

Posted by J.B. Wood on 2/13/18 5:00 AM

At our upcoming Technology Services World conference this May, we’re going to be sharing a lot of insights following our theme, “Blending Service and Sales Motions.” Though our conference is called Technology Services World, the content we present relates to many roles within today’s technology companies. While Services, Sales, and Marketing leaders will absolutely benefit from this unique learning opportunity, I wanted to talk about 4 specific C-suite and executive titles that will benefit by attending and taking in all of the valuable lessons and insights from this event.

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Topics: services executives, sales, marketing, lead generation, Technology Services World Conference, sales costs, Blending Service and Sales Motions

[SlideShare] 3 Reasons Why You Need a Chief Renewal Officer

Posted by Julia Stegman on 2/12/18 5:00 AM

Technology subscription revenues are becoming material for both pure-play cloud companies (representing 90% or more of their total company revenue) and hybrid companies (representing 10% or more of their total company revenue). Continuing to retain and grow this revenue requires a strong focus on renewal activities led by a chief renewal officer whose mission it is to expand customer spend throughout their contract period. In this SlideShare, we share the top 3 reasons why you need a chief renewal officer at your organization to take charge of this important revenue generating engine.

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Topics: service revenue generation, revenue growth, renewal, slideshare, recurring revenues, contract renewal

The Data Analytics Take on “Helping Will Sell, Selling Won’t Help”

Posted by Jeremy DalleTezze on 2/9/18 5:00 AM

The message, “Helping will sell, selling won’t help,” is something that we repeat often here at TSIA, through our books, conferences, and research. That is because it is a concept that we truly believe in, because we’ve seen it in action time and again. If we apply this thought to data analytics, would it imply that data insights for the customer will sell, but data insights for the salesperson won’t help? I suppose it depends on the type of insights you’re able to gather.

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Topics: services, sales, data analytics, consumption analytics, marketing, predictive analytics, Blending Service and Sales Motions

Education Services Delivery Options You Should Explore

Posted by Maria Manning-Chapman on 2/8/18 5:00 AM

In my recent blog, “What Is Education Services?” I covered the basics of what the definition of education services is, and even touched upon what it isn’t. In this post, I will briefly cover the traditional forms of delivery used by most Education Services (ES) organizations and then discuss less traditional delivery options that are proving to be successful.

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7 Must-See Resources About Healthcare Technology

Posted by Vele Galovski on 2/6/18 5:00 AM

For decades, healthcare and HT vendors have operated under a traditional manufacturing model–sell equipment and technology, and service it when it breaks. Translating that equipment or software into actual clinical business value was previously left up to the healthcare provider. The recent advent of subscription business models where care providers are paying only when they use their equipment, and also have the abilty to stop paying if they don’t receive value from it, is now forcing manufacturers to make sure that better, tangible health outcomes can be achieved with their products.

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Topics: healthcare, internet of things (IoT), healthcare technology, artificial intelligence (AI)

What Do Professional Services Strategy and Car Maintenance Have in Common?

Posted by Bo Di Muccio on 2/1/18 5:00 AM

At our recent TSW conference, I overheard this lament, “I wish getting alignment on our professional services strategy was as simple is getting your car aligned!” And thus was born an idea for some research and a blog post to explore this concept.

Car owners know that their wheels need to be in alignment, and it’s not hard to tell when they aren’t.  Your car might seem to drift to one side, or maybe your car is driving straight, but your steering wheel isn’t centered or vibrates at higher speeds. Any of these problems is a clear indication that you’re out of alignment. If you don’t get it fixed, there are lots of problems that will likely ensue: your tires will wear unevenly, you’ll get worse gas mileage, there’s a higher risk of tire blow outs or poor traction. In short, it’s plainly foolish and counterproductive to ignore or overlook the problem.

At TSIA, we believe that the same exact principles apply to professional services alignment, that is, the alignment between the PS charter and overall company objectives. 

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Topics: professional services, professional services organization (PSO), project performance, TSIA Strategic Services

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