Apac
  • Home
  • CXO Insights
  • CIO Speaks
  • Partner Conferences
  • Newsletter
  • Subscribe
  • News
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cyber Security

    DevOps

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    IT Services

    Marine Tech

    Networking

    Plastic Tech

    PropTech

    Robotics

    Sensor Tech

    Simulation

    Smart City

    Software Testing

    Startup

    Storage

    Unified Communication

    Web Development

    Wireless

  • Automotive

    Banking

    Capital Market

    Compliance

    Construction

    Custom Software Development

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Travel and Hospitality

  • CISCO

    Google

    IBM

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Collaboration

    Contact Center

    Corporate Finance

    CRM

    Data Center

    Digital Signage

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Communications

    Enterprise Performance Management

    ERP

    Facility Management

    Field Service

    Fleet Management

    Gamification

    HR Technology

    IT Infrastructure

    IT Service Management

    Managed Services

    PLM

    Procurement

    Project Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • Amazon
    • Cloud
    • HPC
    • Capital Market
    • Collaboration
    • CEM
    • Drone
    • Facility Management
    • Fleet Management
    • Food and Beverages
    • Business Intelligence
    • IBM
    • Insurance
    • IT Infrastructure
    • Legal
    • Marine Tech
    • Networking
    • Plastic Tech
    • Procurement
    • RegTech
    • Sensor Tech
    • Simulation
    More
    Fleet Management Food and Beverages Business Intelligence IBM Insurance IT Infrastructure Legal Marine Tech Networking Plastic Tech Procurement RegTech Sensor Tech Simulation
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • Field Service
    Editor's Pick (1 - 4 of 8)
    left
    E-commerce and the Data behind it

    Klemen Drole, CIO, Lazada Group

    The Bi-Model Approach to Customer Engagement

    Sumit Puri, CIO, Max Healthcare

    PropTech: the Future of Real Estate

    Aidan Coleman, CIO & CTO, Charter Hall

    mobileOne Technology: Real-Time Solutions to CPGs

    CEO

    myFLO: Streamlining Business Processes through Comprehensive Field Solutions

    Founder

    Field Force Automation: Where We Are, and Where We Need to Go

    Kelvin Hubbard, COO & CIO, Visual Mobile Technologies, Inc.

    Field Service Management Lifecycle

    Dean Lane, Executive or CIO Consultant, The Office of the CIO & Mayumi Okada, Executive or CIO Consultant, The Office of the CIO

    Technology is No Longer a Support Function

    Mark Wilmshurst,

    right

    Intelligent Asset and Service Data To Deliver 14% Revenue Boost

    By Apac CIO Outlook | Tuesday, May 14, 2019
    Tweet

    London, UK - Asset and service data will have a gravitational pull beyond service departments, putting a new business lens on enterprise performance, according to a new global research report, “The Rise of Asset and Service Data Gravity”, conducted by Vanson Bourne on behalf of ServiceMax from GE Digital. By automatically collecting, aggregating and analyzing service data related to industrial assets, companies expect a revenue boost of more than fourteen percent. And for every $1 spent on successful service data collection and usage, companies expect a return of $4.44 – approaching five times the initial outlay.

    The research surveyed 600 IT decision makers and field service management leaders across Manufacturing, Energy and Power, Oil and Gas, Transportation, Distribution and Logistics, Telecoms and Medical/Healthcare in the USA, UK, France, Germany, Turkey, UAE and Saudi Arabia.

    The study found that out of the estimated 187,470 field service work orders conducted on average each year, 15,635 (8.34 percent) of them remain unaccounted for within organizations, representing millions in lost revenue.

    “Businesses are moving to outcome-based, servitized business models where monetizing service – and harnessing field service data – is critical to success,” said Mark Homer, Vice President Global Customer Transformation for ServiceMax, a GE Digital company. “In a servitized world, the asset is king, and everything revolves around it, such as uptime, availability, mitigating downtime, asset estate insight, performance metrics, and supply chain. With digitization, service data is a subset of the asset data, and both hold untapped insights for almost every line of business – from sales, R&D, IT, finance, marketing and Corporate Social Responsibility, and it also has a huge impact on Overall Equipment Effectiveness in terms of performance, capacity, quality, and uptime. The rise of this ‘asset and service data gravity’ is changing the way businesses view and monetize their service operations.”

    Almost all 600 of the organizations surveyed (ninety nine percent) believe that other parts of the business outside of service can benefit from both the automation and better usage of service data. And eighty five percent think service data should be central to decision making, while eighty seven percent believe it will have a positive impact on their ability to remain competitive.

    “Businesses are expected to have value conversations with customers, rather than product discussions,” added Homer. “As the growing value of service data is increasingly recognized outside of the service department, it is best exploited through a digital platform approach, rather than piecemeal to enable every line of business to positively benefit from its insights.”

    tag

    Logistics

    Healthcare

    Read Also

    How Is Automated Field Service Scheduling Beneficial for Enterprises?

    How Is Automated Field Service Scheduling Beneficial for Enterprises?

    AI To Enhance Field Service Management and Boost Business Performance

    AI To Enhance Field Service Management and Boost Business Performance

    IoT: The Key to Transforming Field Service

    IoT: The Key to Transforming Field Service

    How Digital Workflows help the Field Service Industry

    How Digital Workflows help the Field Service Industry

    Weekly Brief

    loading
    ON THE DECK

    FinTech 2019

    Top Vendors

    Admired Tech 2019

    Top Vendors

    Big Data 2019

    Top Vendors

    Previous Next

    Copyright © 2019 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/intelligent-asset-and-service-data-to-deliver-14-revenue-boost-nwid-5508.html