Colfax
Colfax enabled its ESAB line of business with enhanced product functionality by using PTC IoT technology to analyze and improve product performance through a connected service framework.
Read the Colfax Story
Create Customer Value With New Business Models
Leaders are transforming their industries by creating new ways to monetize products and services—and redefining their businesses in the process. Companies can leverage the connected capabilities of Internet of Things technology to introduce billing models based on cycle counts or other Product-as-a-Service and servitization models. Once you’re connected across all systems and devices, you can create new value-add services offerings on your customers’ utilization and capacity needs. PTC customers use IIoT solutions to achieve:
Up to 50%
- Increase in service profitability
Up to 30%
- Improvement in OEE
User Data Drives IoT New Business Models and Revenue Opportunities
Standardized data connectivity across all devices and systems opens the door for many IoT new business model opportunities. Companies facing global challenges armed with remote connectivity are ahead of the game and able to pivot to remote resolution and predictive service for optimized end user productivity. Monitoring your customers’ usage patterns and capacity utilization creates opportunities for consumables sales, as well as “pay by use” models that reduce upfront CapEX requirements for your customers.
PTC customers focused on driving revenue growth through new lines of business have found success with the following IoT new business models:
PTC customers focused on driving revenue growth through new lines of business have found success with the following IoT new business models:
Product as a Service (PaaS)
Product as a Service shifts the value from physical products to the usage and productivity of your equipment. See how PaaS can expand your customer base and create new revenue streams.
Consumables Fulfillment
Optimize revenue from consumables by automating resupply for end users based on their usage patterns. Use connected products to service customers with accurate, predictive replenishment of consumable supplies.
Overall equipment effectiveness
Become a partner in your customers’ success. Market smart connected assets that will help them improve their OEE metrics.
Drive Service Revenue
Understand system uptime and performance to specification to adapt your service offering and create higher-level SLAs from improved service levels.
IT/OT Convergence
Remove the silos between customers’ IT and OT systems for flexibility that enables site-wide, product-agnostic monitoring—and leads to service revenue growth.
Building New Business Models With PTC
By addressing customer issues with innovative digital solutions, PTC customers are rethinking the status quo to discover new business models.
Explore IoT New Business Model Strategies
Start using connectivity to open up new business models.
