Grow revenue by enhancing your servitization plan with service lifecycle management

To drive profitability, field performance and customer loyalty, more and more manufacturers are extending their product lifecycle management (PLM) software to include service lifecycle management (SLM) capabilities. To gain even greater benefits, the next logical step is to join the capabilities of SLM with those of customer relationship management (CRM). By combining knowledge about the product and how it should be serviced, with the full customer story, the two systems enable a seamless and personalized user experience that promises to help manufacturers impress their customers, grow revenue and improve operational efficiency. This white paper highlights the value of extending the digital enterprise into service lifecycle management, with a focus on benefits from customer-centric servitization.

Benefits of SLM and CRM

Manufacturers clearly benefit from SLM and customer relationship management (CRM) software solutions operating independently. Bridging the two solutions into a single ecosystem will help manufacturers transform their business to support service excellence and drive up revenue through new business models and servitization.

Harmonizing SLM and CRM for customer-centric servitization

Fully supported by both SLM and CRM data and capabilities, product- and customer-centric servitization can open new levels of customer engagement, business models and innovation. Servitization excellence is likely to increase your profits, especially in cases where your margins on service are higher than your product margins. Your company can also close the loop and leverage servitization data to increase productivity, reduce waste and increase sustainability – all key drivers of brand value.

Leveraging artificial intelligence to drive servitization

With the capabilities of data and artificial intelligence, proactive and predictive services are enhanced. A robust AI engine, utilizing product and service engineering data, combined with asset data, service history and performance data, can assist service agents and technicians. You get valuable insights into potential issue root causes and equip service agents with crucial product-related information, helping them to better assist customers. Service technicians are also empowered as revenue generators, with knowledge of upgrade and sales opportunities.