Service revenue opportunities across your global install base offer tremendous potential for business growth. As products are designed to last for years or even decades, your organization should have regular opportunities to influence greater product and service performance, as well as greater revenue performance. There are warranty and contract renewals, expanded services contracts, service parts sales and other chances to build business. Yet, if service functions are disconnected, they lack a consolidated view of service history and product performance to know what to sell and when. Worse, your organization lacks a strategic view of revenue and growth opportunities overall.
Without access to consolidated service history and product performance information, your organization takes a tactical and reactive approach to service, rather than a strategic and proactive one. At the department level, wrong parts are ordered, service calls are not productive, expired service contracts don't get renewed, extended warranties go unsold, and more. At the business level, the impact is greater, as missed revenue and growth opportunities translate to poor financial results.
When your service network is connected and provides a consolidated view of service history and product performance information, service leaders can easily scope and deliver competitive services offerings and enable a more knowledgeable services workforce. Service opportunities are managed better through access to rich product information that provides understanding of product specifications, the customer’s current warranty or service contract, and the replacement parts needed. And, your organization gains overall visibility to strategically plan, deliver and analyze service outcomes for maximum revenue growth opportunities.
Process Improvement Opportunities
The most successful companies accelerate service improvements by transforming one or more of these key processes: