The Impact of Smart, Connected Products on Business Models

Posted by Vele Galovski on 4/3/18 5:00 AM

As business models continue to shift from the traditional “make, sell, ship” mindset to ones that focus on delivering customer outcomes, the industrial equipment industry is finding it more difficult to grow profitably. In response, equipment manufacturers are beginning to employ the use of smart, connected products to collect data from equipment installed at a customer site to gain insight into unique customer needs. In this short paper, “The Impact of Smart, Connected Products on Business Models,” I discuss how these new technologies are turning traditional business models upside down, while also sharing the benefits and some cautions surrounding smart, connected products.

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Topics: healthcare, field services, industrial equipment, internet of things (IoT), smart, connected products, smart services, healthcare technology

Blending Service and Sales Motions in Industrial Equipment

Posted by Harald Kopp on 3/14/18 5:00 AM

Offering smart, connected products and monetizing IoT services requires a collaborative approach between Sales and Service teams across the board. The moats between Sales and Services need to be crossed, but to do this, organizations also need a blend of Marketing, Sales, and Service motions to maximize customer lifetime value.

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Topics: industrial equipment, internet of things (IoT), hardware manufacturers, equipment manufacturers, smart, connected products, smart services, Blending Service and Sales Motions

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

Why Hardware Suppliers Need Artificial Intelligence, Business Analytics, and Machine Learning

Posted by Vele Galovski on 9/1/17 5:00 AM

If you’re an industrial equipment, telecommunications, or healthcare organization with hardware on a customer site, you’re going to want to understand how artificial intelligence (AI), business analytics, and machine learning fit into the picture. Through conversations with our membership community and TSW conference attendees, it’s become clear that these are are all hot topics that technology suppliers are interested in learning more about but are still having a hard time understanding. In this post, I’ll share what each of these terms mean, how they are fitting into the business strategies of hardware suppliers across the industry, and how you can learn to apply these emerging and highly beneficial capabilities and apply them to your business.  

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Topics: data analytics, healthcare, industrial equipment, internet of things (IoT), hardware manufacturers, smart, connected products, analytics, smart services, machine learning, telecommunications, artificial intelligence (AI), business analytics, remote services continuum

The Customer Journey in Industrial Equipment

Posted by Harald Kopp on 7/28/17 5:00 AM

Smart, connected products and smart services have had a major impact on the world, not only in the way businesses are run, but also to the customer journey over the whole customer lifecycle. As part of TSIA's research initiatives, we track the latest industry trends affecting the industrial equipment (IE) sector, which includes automation technology, instruments and components, and solution providers leveraging industrial equipment. In this post, I’m going to be sharing how these changes to the customer journey, brought about by the increasing adoption of smart technological capabilities, are playing a part in the industrial equipment sector.

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Topics: industrial equipment, internet of things (IoT), smart, connected products, smart services, Art and Science of the Customer Journey

Meet with TSIA Experts at 5 Upcoming Technology Industry Events

Posted by Technology Services Industry Association on 2/21/17 5:00 AM

Whenever a new trend emerges in the world of technology and services, TSIA is already on the front lines developing new research, frameworks, and expertise around what that trend can mean for your business and the future of our industry. To share some of their latest findings in the areas of customer success, field services, smart services and the Internet of Things (IoT), and recurring revenue, TSIA executives will be attending several upcoming conferences and speaking engagements, including: 2017 Customer Success Summit – Presented by Totango, TSIA International Field Services Summit, Executive Symposium, Technology Services World, and Gainsight Pulse 2017. 

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Topics: customer success, XaaS (x-as-a-service), field services, internet of things (IoT), summit, Technology Services World Conference, TSIA Research, smart services, speaking engagements

Learn About Smart Services and IoT from TSIA in Switzerland!

Posted by Technology Services Industry Association on 1/19/17 5:00 AM

As the rise of smart, connected products continues to influence how today’s businesses are run, it’s imperative to understand exactly how smart services and the Internet of Things (IoT) are impacting your business and the technology and services industry as a whole. To answer common questions on this topic and offer a forum for constructive discussion, TSIA will be hosting a one-day Field Services summit called, “Transforming Your Field Service Organization with Smart Services and the Internet of Things” in Basel, Switzerland this March. 

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Topics: field services, internet of things (IoT), summit, TSIA Research, TSIA Strategic Services, smart services

[Infographic] Why You Need to Leverage IoT in Healthcare

Posted by Vele Galovski on 12/15/16 5:00 AM

Despite the healthcare industry experiencing steady growth year over year, many HHIT (Healthcare & Healthcare IT) providers are beginning to see the cracks in their traditional business models. This infographic outlines the various ways HHIT organizations can embrace the Internet of Things (IoT) through smart, connected products to capture new revenue streams, including optimized customer processes, and improved business outcomes.

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Topics: healthcare, infographic, internet of things (IoT), HHIT, equipment manufacturers, smart, connected products, smart services

[Free Ebook] Why Services is the Big IoT Opportunity for Hardware Manufacturers

Posted by Technology Services Industry Association on 10/13/16 5:00 AM

As our world becomes more connected, the resulting technological climate has had a growing impact on the way traditional hardware manufacturers run their businesses. “Why Services is the Big IoT Opportunity for Hardware Manufacturers," a free ebook by TSIA's Vele Galovski and Harald Kopp, is a roadmap hardware manufacturers can use to navigate the path to digitization and unlock the new business opportunities presented by smart services and the Internet of Things (IoT). 

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Topics: industrial equipment, internet of things (IoT), Technology Services World Conference, hardware manufacturers, ebook, smart services

Learn from Auto Industry Futurist John Ellis at TSW Las Vegas 2016

Posted by Nicole Dornsife on 9/22/16 6:30 AM

The Technology Services World conference is just around the corner, and we have a great lineup of inspiring keynote speakers who will share their thoughts and expertise on subjects following this year’s theme, "Aligning for Growth and Outcomes." Presenting the closing keynote is John Ellis, Auto Industry Futurist, who will be talking about what technology companies can learn from the recent disruptions impacting the automotive industry in his keynote, “The Future of the Automotive Industry and Its Uncanny Parallel to the Future of the Tech Industry.” I spoke with John in a short Q&A session where he shared with me a bit about his background and his upcoming TSW presentation. The full interview can be viewed on the TSW website, but here's a short excerpt of what he had to say. 

Editor's Note 11/8/2016: John Ellis' presentation is now available to view online!

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Topics: internet of things (IoT), Technology Services World Conference, smart services

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