A smart and connected product strategy helps in leveraging business by driving new product features, new innovation & new revenue streams. Useful product life after sale is increasing, and so is the focus on aftermarket business.
Aftermarket services can produce highly profitable recurring revenue. They enable stickier customer relationships and can provide valuable user data for R&D and product development.
Credible sources like, McKinsey reports, an analysis of 30 industries showed the EBIT for aftermarket services was 25% compared to 10% for new equipment. In partnership with Microsoft, they have seen ‘two years’ worth of digital transformation in two months’, with digitally enabled self-service options and remote interactions with service technicians becoming standard
Subscription business models are being implemented to capitalize on customer lifetime value. CapGemini found that 5 – 10% of total customer value was in the original sale, while 70-95% of revenue comes from renewals and upselling.
TSIA found that profitable service revenue growth requires optimization of the customer’s process.
There is a common theme—connecting to your products in the field is now a necessity—for cost control, to fuel profitable new business development and to meet customer’s new expectations.
Presenting Partner
PTC enables global manufacturers to realize double-digit impact with software that accelerates product and service innovation, improves operational efficiency, and increases workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don’t just imagine a better world, we enable it.
Roundtable focus
Building a business case for a connected products business strategy
Developing the proper data acquisition strategy and architecture
Using IoT capabilities to drive service revenue and profit
Accelerating digital transformation
Looking toward an “extended digital thread” that connects the entire value chain
Who should attend?
Director, VP, CXO of :
Field Service
IT
Service
Product Marketing/Management
Service Operations
Maintenance
Customer Service/Support/Success
Our Speakers
Vivek Javani
Digital Officer | IT Lead | CISO
L&T Defence – Hazira
Sivasankar Juturi
Director – Global Process Owner – O2C & P2P
Volvo Group
Kuumar Manu
Associate Director, Digital Transformation
Otis Elevator Co
Tripurari Kumar
Group CFO
Badve Engineering Limited
Cesare Schiatti
Digital Business Developer Manager
Celli Group
Gaurav Phull
Head of Marketing and Head of Sale
CEAT Tyres Limited
Ajay Valvi
Customer Success Manager
PTC
Rajkiran C.
Senior Director & Head of the IOT / AR Business
PTC
Discussion Topics
3:30 PM – Opening Remarks
3:35 PM – Panel Discussion
Developing After market Strategy – Increasing Revenue & Profits
- The current state of connected business development in India
- Celli Group’s equipment business working with major global beverage brands
- The journey of their connected products business from monitoring to industry-leading product innovations
The value of connected products data to many stakeholders, from Service to Engineering, including integration