Harness the Power of Service to Propel Revenue Growth

Unlock service's revenue potential

Service can drive revenue streams for new services or equipment


As organizations face greater competition in equipment sales, they are looking to service for a spark in supporting their revenue and growth ambitions. Most organizations recognize service’s impact on customer satisfaction and the revenue protection that comes from the mitigation of customer churn. However, service can also add to the top line by eliminating areas of revenue leakage, uncovering new opportunities for contract and part sales, and contributing relevant information that creates revenue opportunities for new equipment or new services.

Service can significantly contribute to and accelerate product-related revenue streams. As service often owns the relationship with the customer, it can often serve as the lead generation engine for new sales that are aligned with customer value. These new sales can come in the form of new services, new equipment, or new capabilities that are driven by a better understanding of customer needs. Service’s ownership of critical asset data in the form of asset use, history, and more puts it in the ideal situation to recommend tailored solutions that can impact customer value.

Key takeaways

According to Accenture research, service makes up approximately 30% of the total revenue generated by industrial organizations. In addition, the growth rate of revenue in service is typically double that of equipment with expectations that service can account for 60% of total revenue for organizations in the next five to 10 years. Best-in-class organizations have already tapped into service as a primary growth engine and are looking to uncover new opportunities to leverage service to impact organization-wide revenue. This is a necessity, as the growth rate in traditional equipment sales continues to stall due to competition.

Service impacts revenue in four primary ways:

  1. The reduction or revenue leakage or revenue that is given away due to incomplete visibility or poor process control
  2. The protection of revenue relationships via churn reduction (revenue protection)
  3. The growth of service revenue opportunities (revenue optimization)
  4. The recognition of new revenue channels based on customer and asset data (revenue maximization)

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