The 12 Things We Learned at LiveWorx (Part I)

LiveWorx 2017LiveWorx 2017 saw the service track expand on innovative ideas that affect your organization’s service arm. From managing service parts, to service and parts information and connected service solutions, attendees gained a new perspective on familiar processes. Whether you were able to join us at LiveWorx or are catching up in this four-part series, read on for the 12 most important takeaways from LiveWorx 2017. In this post we’ll tackle the first three.

1. How to prioritize transformative ideas

Wanting to transform your service business is a great goal, and a daunting one. Where do you start? Depending on your organization’s goals, your customers’ needs, and where you are right now, your journey and your destination may be quite different. PTC’s service journey provides a framework for exploration, from understanding your service landscape, to advancing your service capabilities, to outperforming your competitors.

The path isn’t linear. In fact, your service journey may only include a few stops. You can learn more about the service journey, and take our Service Performance Assessment here. The assessment will guide you through what service leaders are doing now, and inspire you with a path for your business. 

2. How to gain executive support for service transformation

It’s not enough to have a great idea, and even a framework for how to achieve it, as a service leader, you’ll need to get the buy-in of your cross-functional counterparts, as well as your executive team, in order to implement these transformative ideas. First, you’ll want to reference analyst publications, and case studies of other successful service transformations, to show that your idea has merit and has worked in the past. You’ll want to analyze your service business, either internally or by engaging a consultant, to help you pick an area, or a few areas to focus on for improvement, and make sure you’re solving a specific and relevant problem. Focusing on one pain point with a relatively large upside for revenue or customers (or both) is a good place to start. Finally, build a clear business case of why the change is necessary, what the change will be, and how the change will be implemented. Combine these elements for the best pitch to your executive team. 

3. How to reduce headwinds to realize rapid first value

Implementing an IoT solution within your service organization is often a large and ambitious project, and there are common pitfalls to avoid. You’ll want to think big, but start small, and scale rapidly. When scaling your project, you’ll want to identify whether you’ll do it via data, process, or technology, or some combination of the three. Consider the pitfalls ahead of time, for example, spreading your investments too thin and not putting enough muscle behind one project, underestimating the total implementation cost, or letting an unclear value proposition delay implementation. To avoid these common snags, many companies consult with service experts who have extensive experience in building out complex solutions. 

These big-picture lessons can be applied to any service-related transformation. In subsequent parts, we’ll discuss lessons for service parts management, connected service, and service and parts information, all key components of a thriving service organization.  

Read Part II of IV here.

Read Part III of IV here.

Read Part IV of IV here.

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