Service Business Drives Profits

Service Business Drives Profits

This realisation has led manufacturers to now focus on service growth and drives the shift from product centric to customer centric thinking. This also requires service organisations to be managed as a service business which comes along with new challenges.

Let's explore some of the key points related to this shift and the challenges involved:

  • Customer-centric thinking

  • Service-oriented mindset

  • Service portfolio development

  • Service delivery excellence

  • Talent and skill requirements

  • Customer relationship management

  • Business model transformation

  • Service innovation and differentiation

Transitioning from a product-centric to a customer-centric service business model presents various challenges. However, it also opens up opportunities for manufacturers to capture additional value, build stronger customer relationships, and create sustainable revenue streams. By embracing these challenges and adapting to the changing landscape, manufacturers can position themselves for long-term success in the evolving service-driven economy.

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