Made Smarter Servitisation
Demonstrating the value of end-to-end IoT technology
The Made Smarter Servitisation demonstrator enables companies to identify the key digital components that can bring a servitisation business model to life.
Through rapid prototyping and agile sprints, Digital Catapult can demystify the huge range of technology options available, by showcasing a best practice approach to developing connected products.
What is servitisation?
In an increasingly competitive market place, manufacturers are turning to customised and personalised solutions for customers, achieving a higher level of customer satisfaction through incorporating and providing integrated solutions and services. This method, known as servitisation, can be understood as the process of increasing value by adding services to products and providing customers a complete product-service system.
The importance of servitisation
Servitisation enables the transformation of the manufacturer from a business which is principally focused on building revenues around the production and sale of products, to one where a significant proportion of the revenue comes from services that focus on the outcome from the use of its products.
This transformation leads to the development of a new business model to better enable the manufacturer to compete through these outcome-based offerings, called ‘advanced services’. As a result, through servitisation, manufacturers can potentially achieve differentiation and new sustainable revenue streams.
Demonstrating value to industry
The power of data collected by connected devices as part of the demonstrator, illustrates the wide-ranging value available to industry through the adoption of a servitisation business model.
Better understand risk
Increased security & privacy of data
Predictive maintenance as-a-service
Measuring the environmental impact of a service
Optimise operational efficiency – increase output, reduce waste
The value extracted by a data driven approach, can enable businesses to understand the true costs of a supply chain and get the right information to the right people, at the right time.
How the servitisation demonstrator works
The demonstrator is modelled around a heating-as-a-service servitisation project, using pumps and compressors and building a servitisation business model around this. To demonstrate this capability, an end-to-end technology selection, development and deployment was required.
Enhanced customer engagement
The intrinsic benefits of servitisation can be passed onto the customer through increased engagement with the business, and the ability for them to access their data in real-time using custom built applications.