Everything as a Service: How the smart servitization of business models succeeds as an extension of the core business
Our participants of the NOVAZOON Innovation Day 2023 dealt with this question in a work session.
Servitization stands out both in science and in corporate practice as a concept that can fundamentally change the product understanding and business model of manufacturing companies in particular. In practice, numerous companies have already successfully adapted their existing business model to changing conditions by means of servitization.
In the worksession, we focused on the key building blocks of servitization:
- Strategy & Awareness
- Customer Centricity
- Technology Enablement
- Skills & Methods
The topic was discussed intensively and met with great interest among the participants. In particular, it was discussed which approaches can be used to successfully transfer “servitization” into practice in order to sustainably complement established business models.
According to our knowledge and experience, one of the main challenges is the cultural change from product sales to a service company. In order for this cultural change to succeed, it is necessary that a clear strategic orientation towards servitization is undertaken by senior management. How successfully a servitization of the product range can be carried out depends above all on customer centricity, technology enablement and a methodical approach to service development.
Do you need to shed some light on servitization for your business model?
Then get in touch with our experts and arrange a non-binding appointment.