About 20 guests attended the online Service Lunch organized by the Smart Services Expert Group on September 22, 2020. Fabien Olivier (KWe Consulting GmbH) presented key success factors for a transformation journey to smart products.
Here are some highlights from Fabian's presentation:
What are the challenges?
Market prices are going down as a result of product commoditization and a lack of differentiation. How do we gain market shares and how do we grow revenues in a highly competitive and saturated market?
Solution: create differentiation and a sustainable competitive advantage through technological innovation.
How to use IOT as a key differentiator? With the illustration of a real case study from “Transformation Journey to Smart Products” that shows:
- Which data to collect
- Who is responsible for data management
- How to be compliant to the data privacy regulations
- Who to partner with
- How to translate data into information: the role of a dashboard
- What is the business case
- What is the best approach to build a business case
- A new revenue opportunity: pay per use
- How to move from a product to a knowledge organization
- How to build a digital DNA
With which Service-oriented Approach did we Solve it?
The real case study explains how the IOT value proposition has evolved over time through the transformation journey to become a key Value-Added Service to improve profitability (internal transparency), customer satisfaction (external transparency) and cross-selling.
What are the learnings?
- Digital Transformation is a journey that requires exploring the digital opportunity on a trial and error basis with a good dose of faith and perseverance.
- Digital Transformation is Change Management.
If you have any questions concerning this event, please contact Jürg Meierhofer or Rainer Fuchs.