The Business Value of Smart Connected Products

The overarching idea around connecting with your products is having real-time performance data touch every function in the organisation. What could your company do with that data?

Our customers implementing use cases in the Services area have:

  • Reduced mean-time-to-repair by 50%
  • Cut customers’ unscheduled downtime by 40%
  • And solved 40% of help requests remotely.

What could those savings add up to for your company?

In Customer Operations, our customers have reduced on-site calls by up to 42%, by enabling better customer self-service and remotely pushing software updates, among other techniques. In a digitally-transformed environment, training and technical documentation can be pushed to both customers and in-house service and tech support teams as it’s created or updated.  What would these advantages be worth to your company?

If your company were fully digital, could your Sales Team know when to up-sell and cross-sell if they knew utilisation and performance data?  If you could guarantee 97% uptime, could you offer higher-margin service agreements or warranties?  Could they close deals faster with virtual demos that show the offered equipment right where it’s intended to go? What would your competitive position be if you could go to market with your product-as-a-service?

With products reporting their use, the manufacturing and supply chain teams have increased the turnover of spare parts inventories by 35%.  They have also optimised aftermarket parts and consumables planning by seeing both use and as-deployed configurations.  If your systems were connected during production could you ship 0-defect systems and supply individual certificates of compliance, in-line?

And with the benefit of live data from the field, Engineering can design out failure modes as they occur, getting new parts into production immediately and producing technical documentation and work instructions in near-real-time.

AssetMinder® Connected Product

AssetMinder® Connected Product is a module for Original Equipment Manufacturers and distributors who want to connect their product quickly and test a market opportunity.

  • Disrupt competitors
  • Offer your asset as a service and find new revenue streams
  • Increase sales of consumables
  • Increase customer satisfaction, contract renewals, word-of-mouth and customer referrals
  • Increase your brand equity with outstanding service

Read More About AssetMinder®