Looking to increase growth and customer satisfaction? With equipment as a service (EaaS), the industrial Internet of Thing (IoT) is creating opportunities for original equipment manufacturers (OEMs) to pivot from one-time equipment transactions to recurring revenue streams. EaaS allows customers the flexibility of leasing equipment while also benefiting OEMs through machine transparency and added value propositions.
Read “Equipment as a service: Answering OEM questions” and learn how you and your customers can increase revenue streams and benefit from this industrial IoT solution.
The equipment as a service business model extends the relationship beyond the initial sale, giving OEMs detail on how their customers use the machines. This insight can support add-on sales, cross-selling, and new feature and product development. Additional benefits include:
- Transparent equipment usage
- Predictable revenue streams
- Increased competitiveness and relevance with customers
- Satisfied customers
This new service offering can provide a steady stream of recurring revenue for OEMs and differentiate your business in a competitive market.
Benefits of EaaS business model for customers
An EaaS business model allows customers to get immediate access to machines and technology without making a massive financial commitment, hiring additional people or accounting for training. The benefits of this model for customers include:
- Decreased capital expenses
- Improved flexibility
- Reduced overhead
- Higher uptimes
Equipment as a service can offer major benefits to both OEMs and their customers with more efficient machines and streamlined access to new technology. Read this new ebook to learn more about advancing your digital transformation with an EaaS business model.