Leveraging Your Field Service Engineers to Drive Revenue

Posted by Vele Galovski and Harald Kopp on 9/22/15 6:30 AM

On the surface, smart, connected products threaten to make the need for on-site service obsolete. Embedded technologies will phone home and signal either a firmware upgrade or generate an automated service request for a customer-replaceable unit as part of an advanced exchange program. Although this is happening more and more and will undoubtedly continue in the future, hardware companies will always need a field service engineer to go on-site at a customer’s location. The question is how to best to use this tremendous organizational resource in a way that helps the company during the B4B transformation? In this final installment of our 10-part blog series about how IoT is impacting Hardware and Industrial Equipment companies, we’ll be talking about how you can leverage your field service workforce in new and exciting ways.

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Topics: field service engineer, field services, industrial equipment, internet of things (IoT), Intro to IoT, smart services

Organizational Structure and Capabilities Along the Remote Services Continuum

Posted by Vele Galovski and Harald Kopp on 9/1/15 7:04 AM

In our previous post, we stressed the importance of companies designing new service offers that are centered on driving business outcomes in order to avoid creating another complexity avalanche in the age of IoT. In this latest installment of our IoT blog series, we’ll be tackling the topics of organizational structure and smart service capabilities as industries move along the remote services continuum.

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Topics: industrial equipment, internet of things (IoT), organizational capabilities, Intro to IoT, smart services

Your Strategy for Escaping the Complexity Avalanche

Posted by Vele Galovski and Harald Kopp on 8/18/15 6:30 AM

In our previous blog post, we shared an extraordinary earnings report from GE that highlighted the revenue-generating capability of IoT by combining smart, connected products with smart services. When GE Aviation collects 5,000 data points per second from “tip to tail” sensors, the knowledge gained from analyzing the data can drive condition-based maintenance, fuel savings, and risk reduction, all of which result in greater bottom-line profitability for their customer and incremental revenue for GE.

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Topics: industrial equipment, internet of things (IoT), Intro to IoT, smart services

Breaking News of How Analytics are Enabling Services Growth

Posted by Vele Galovski and Harald Kopp on 7/24/15 6:30 AM

We interrupt our regularly scheduled IoT blog series to bring you an extraordinary earnings report from an industrial equipment company that highlights the significant role of smart, connected products and IoT in driving services growth.
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Topics: industrial equipment, internet of things (IoT), Intro to IoT, smart services

Collecting the Low-Hanging Fruit in IoT

Posted by Vele Galovski and Harald Kopp on 7/9/15 6:30 AM

In the age of IoT, companies are manufacturing smart, connected products, driving service efficiency, and optimizing customer processes that drive improvements for both themselves and their customers. However, before you can begin focusing on customer outcomes and understanding the systems your solution is in by leveraging analytics, you need to create the right B4B offer types that follow the Remote Services Continuum and connect with your sales initiatives to create profitable growth.

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Topics: pacesetter, field services, industrial equipment, internet of things (IoT), remote services, Intro to IoT, smart services

Surviving the IoT Revolution: A Tale of Two Companies

Posted by Vele Galovski and Harald Kopp on 6/23/15 6:30 AM

In A Tale of Two Cities, Charles Dickens wrote about life in London and Paris during the French Revolution. The story included this iconic opening line:

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, ..." A Tale of Two Cities, Charles Dickens

The same could be said today for industrial equipment companies trying to survive the “Internet of Things” revolution. While it is a time of opportunity for the industry, many companies will not make the transition to the new business models.

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Topics: outcome-based services, big data, data analytics, consumption analytics, industrial equipment, internet of things (IoT), remote services, Intro to IoT, smart services

Focusing on Customer Outcomes for Their Benefit and Yours

Posted by Vele Galovski and Harald Kopp on 6/11/15 6:30 AM

In previous posts in this ten-part blog series, we introduced the remote services continuum with a look at service efficiency and process optimization, and ended with a warning that this will not be enough to meet future business challenges. As customers continue to insist that suppliers move towards a Level 3 and Level 4 business model, finding new ways to save customers money and improve their business outcomes will determine the long-term success of technology companies. This is where the true opportunities of the Internet of Things and smart services reside. 

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Topics: outcome-based services, customer outcomes, industrial equipment, internet of things (IoT), Intro to IoT, smart services

How IoT Process Optimization Can Improve Customer Outcomes

Posted by Vele Galovski and Harald Kopp on 5/28/15 6:30 AM

In our post Driving Service Efficiency in the Age of IoT, we highlighted the most common application for smart, connected products: service efficiency. However, this narrow focus limited the return on investment for many suppliers, leaving many to wonder what the IoT (Internet of Things) buzz was all about. The next step on the Remote Services continuum, process optimization, places more emphasis on the customer, which leads to better results for everyone. 

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Topics: field services, industrial equipment, internet of things (IoT), service efficiency, optimization, Intro to IoT, smart services

Driving Service Efficiency in the Age of IoT

Posted by Vele Galovski and Harald Kopp on 5/14/15 6:30 AM

In our last post, Smart Products Need Smart Services: How IoT Affects Industrial Equipment, we introduced the TSIA Remote Services Continuum, which provides a framework for companies that have implemented or are considering incorporating smart, connected products as part of their product portfolio. Today’s post will go into more detail on the first and, by far, most common step along the continuum: Service Efficiency.

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Topics: mobility, support services, field services, industrial equipment, internet of things (IoT), remote services, service efficiency, Intro to IoT, smart services

Smart Products Need Smart Services: How IoT Affects Industrial Equipment

Posted by Vele Galovski and Harald Kopp on 4/29/15 8:36 AM

Last October, CEO of General Electric, Jeff Immelt, kicked off GE’s Minds+Machines conference with this statement:

"You went to bed last night as an industrial company. You will wake up in the morning as a software and analytics company."

So what would make the CEO of an industrial equipment giant say this? In addition to their wide range of product offerings, GE is quickly becoming a software and analytics company that is stretching the definition of what a product is and how they can improve their customer’s outcomes with that newly defined product. In the new age of IoT (Internet of Things), your industrial equipment organization can benefit by taking GE’s lead in developing smart services that support your products. 

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Topics: mobility, field services, industrial equipment, internet of things (IoT), Intro to IoT, smart services

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