1、Blueprint for Service SuccessYour How-To Guide on Service TransformationIndustrial customers are less interested in buying a product than an outcome and increasingly find value in services and support.As a result,services have become a critical means for companies to differentiate themselves as well

2、 as stabilize cash flow,lower volatility and enhance resilience.For that reason,we investigated the best service management approaches that can be applied to successfully transform and grow your future service business.We surveyed 748 industrial service business executives from across 14 countries t

3、o understand the approaches they are taking.The research revealed that a stronger focus on service-driven business models is helping industrial companies better balance pre-and post-COVID-19 economic challenges.Those with a strong market position in digital-driven services flourished as customers so

4、ught more remote services.More than 60%of respondents said their service business accelerated during the pandemic,and they plan to augment services.This finding shows how services,particularly digital-driven ones,help industrial companies ride out economic cycles.Digitalization can also establish ne

5、w recurring service revenue streams and make services more attractive to maximize customer lock-in.The expectations of industrial companies customers are changing.Customers want to know the answer to questions like:How can I augment the life cycle of my existing assets?How can I make my assets more

6、flexible to address increasing requirements for speed and personalization?How can I get the product but only pay for the value of services I receive?2|Blueprint for Service Success:Your How-To Guide on Service TransformationFigure 1a:Total revenue distributionNew ServiceRevenueCoreServiceRevenue9%20