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Articles by Senthil Muthiah
Lead-to-cash—the elephant in the room
Four common challenges impact organizations’ ability to improve lead-to-cash shortfalls. Opportunities lie in respecting the complexity and streamlining the simplicity. Lead-to-cash (L2C)—the conversion of customer interest into income—is a perennial and recurring issue for many businesses. And as a problem often seen as being without an owner, it can be a hard one to solve.
Tech services and generative AI: Plotting the necessary reinvention
The rapid emergence of generative AI has the potential to disrupt a dynamic the sector has relied on for decades, but it also offers an opportunity to tap a lucrative new market.
Como impulsionar o crescimento em serviços industriais: aprimorar a experiência do cliente
A experiência do cliente está se tornando cada vez mais crítica para as empresas de serviços industriais – e a barra está cada vez mais alta. Saiba como superá-la neste artigo. Há muito que as empresas de serviços têm sido um meio eficaz para os fabricantes de equipamentos originais (OEMs, na sigla em inglês) industriais desenvolverem relacionamentos mais próximos e duradouros com os clientes.
Cómo estimular el crecimiento en servicios industriales: Mejorar la experiencia del cliente
La experiencia del cliente se ha convertido en un factor crítico para las compañías de servicios industriales, y la vara está cada vez más alta. Aquí les contamos como superarla. Las ofertas de servicios han sido por largo tiempo un recurso efectivo de los fabricantes de equipos originales (OEMs) para construir relaciones más cercanas y duraderas con sus clientes.
How to boost growth in industrial services: Better customer experience
Customer experience is increasingly critical for industrial-services businesses—and the bar is rising. Here’s how to exceed it. Service businesses have long been an effective way for industrial OEMs to build closer, more enduring relationships with customers. Once generated, these bonds can produce value throughout a product’s life cycle, turning services into a robust revenue stream. But creating and maintaining these relationships has never been easy. Now it’s getting harder.
Elevating aftermarket services
Customers increasingly prefer digital and remote engagement, so industrial companies must build these capabilities quickly. The COVID-19 crisis has jolted aftermarket services decisively toward the digital realm. Indeed, our research suggests that digitally enabled self-service options and remote interactions with service technicians will become standard.
Streamline the quote-to-cash journey for as-a-service sales
An enterprise software vendor with an analytics application was trying to land a major new client that would give a meaningful boost to the latest sales figures. To win the deal, the sales team agreed to a deep discount—despite also committing to provide extra help during implementation and a higher-than-standard level of ongoing support. Two months into implementation, it became apparent that the combination of a lower-than-usual fee with a higher-than-usual servicing cost would result in a loss.
Streamline the quote-to-cash journey for as-a-service sales
Selling as-a-service products is often needlessly complex. Focusing on four areas can subtract pain while adding profit. An enterprise software vendor with an analytics application was trying to land a major new client that would give a meaningful boost to the latest sales figures. To win the deal, the sales team agreed to a deep discount—despite also committing to provide extra help during implementation and a higher-than-standard level of ongoing support.
The productivity imperative in services: Introduction
The key to preserving—or increasing—margins in a period of strong growth is to improve productivity. What does it take to achieve profitable growth in a services business? As a wide range of factors promote a paradigm shift in services, executives across industries must answer this question. In our previous compendium, “Reimagining how services organizations grow,” we looked at the growth opportunities offered by services.
The winning moves in project-based services
Project-based services generate a high percentage of revenues for companies with large, multi-skilled mobile workforces. Yet many companies are willing to take a hit on their quoted margins for these services so that they can get a foot in the door to sell products or more profitable, longer-term maintenance services. Getting a foot in the door is a good idea, but a company can do it without taking a financial hit on its project-based services.
The winning moves in project-based services
It’s time for companies to stop regarding project-based services as loss leaders. Project-based services generate a high percentage of revenues for companies with large, multi-skilled mobile workforces. Yet many companies are willing to take a hit on their quoted margins for these services so that they can get a foot in the door to sell products or more profitable, longer-term maintenance services.
Iniciativas de sucesso em serviços baseados em projetos
Já é hora de as empresas deixarem de ver os serviços baseados em projetos como líderes de perdas. Os serviços baseados em projetos geram uma alta porcentagem de receita para empresas com grandes forças de trabalho móveis formadas por profissionais com diferentes qualificações. No entanto, muitas empresas estão dispostas a sacrificar parte das margens de lucro desses serviços para poderem abrir a porta para outros produtos ou serviços de manutenção mais lucrativos e de longo prazo.
Jugadas ganadoras para los servicios basados en proyectos
Es hora de que las compañías dejen de ver a los servicios basados en proyectos simplemente como un "gancho" para vender otros productos o servicios. Los servicios basados en proyectos generan un alto porcentaje de los ingresos para las compañías con plantillas móviles grandes y polivalentes. Sin embargo, muchas empresas están dispuestas a sacrificar parte de los márgenes de estos servicios para abrir la puerta a otros productos o servicios de mantenimiento más rentables y de largo plazo.
Cracking the code of repair analytics
Increased availability of low-cost connected devices has made it possible to collect vast amounts of data from the field. At the same time, advances in machine learning allow companies to apply analytics to discover, interpret, and communicate insights. The combination is already opening new opportunities for those companies that are building significant new capabilities in a part of the business that long seemed resistant to change.
Introduction: The services solution for unlocking industry’s next growth opportunity
A set of paradigm shifts is forcing companies to rethink their approach to services businesses, to promote both growth and operational efficiency. The increasing complexity of products and rapid evolution of technology have made it imperative for organizations to develop new service products tailored to customer needs.
How disruptive technologies are opening up innovative opportunities in services
Technology and advanced analytics are revolutionizing services − and creating new sources of value for industrial companies that know how to use them. Here is a roadmap that works. In search of sustainable ways to grow, industrial companies are turning to their vast installed base as a source of recurring revenues and profits.
Introduction: The services solution for unlocking industry’s next growth opportunity
At high-growth industrial companies, services aren’t just an optional add-on, but an essential revenue driver deserving thoughtful investment. A set of paradigm shifts is forcing companies to rethink their approach to services businesses, to promote both growth and operational efficiency. The increasing complexity of products and rapid evolution of technology have made it imperative for organizations to develop new service products tailored to customer needs.
How disruptive technologies are opening up innovative opportunities in services
In search of sustainable ways to grow, industrial companies are turning to their vast installed base as a source of recurring revenues and profits. Revenues from servicing, especially aftermarket services and parts, are generally more stable than those from equipment sales and have shorter lead cycles, so they offer a way to counter the cyclical nature of capital investments. In some subsectors, such as flow control, services tend to generate higher margins than equipment sales.
A better way to automate service operations
As service operations use IT to become more efficient across all processes and workflows, they will need to align their work practices with the strengths of automation. The scene at the field operations control center of a large company that sells high-tech equipment troubled its COO. His company had spent millions on a new automated scheduling and dispatching system that promised to optimize the deployment of 3,000 field service engineers. The results, however, were disappointing.
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