In our last post on the Modern Equipment Manufacturer, we discussed a recently-released eBook entitled, “The HVACaaS Revolution,” which details the emerging trend of equipment manufacturers working to introduce service offerings to their customers.
The eBook finds that equipment manufacturers are in a difficult situation – operating with thin margins against stiff competition. These same equipment manufacturers are also facing demands from customers to innovate and introduce smarter and more capable devices that are greener, easier to install, more durable and that reduce downtime.
Luckily for these manufacturers, these customer demands are driving a new generation of products that are more connected than ever before. These products are capable of interacting and interoperating with building management systems (BMS), and some are even capable of connecting to the cloud, opening the door for manufacturers to introduce something new to their customers – a suite of applications and services.When devices become cloud-enabled, it becomes possible to access their operational and sensor data – not just from in the building, but from anywhere on the globe. This means that the equipment owner can more easily and conveniently track and monitor the performance of their equipment. It also means that the equipment manufacturer can access and aggregate the data from their installed devices – regardless of where they’re being used.
With this data being aggregated, it’s becoming possible for the equipment manufacturer to monitor their installed devices, identify when operational issues arise before they become problems and even proactively roll properly-equipped maintenance trucks to locations before devices break. They can even remotely manage these devices – optimizing them for the conditions in which they’re operating and changing their settings to drive optimal performance and minimal energy usage.
These are all things that the equipment manufacturer can sell to the customer as services – remote monitoring, remote device management, device optimization and configuration from the organization that knows the device the best. And that can open new revenue streams for the equipment manufacturer at a time when their offerings are becoming increasingly commoditized and their market is becoming increasing competitive.
While the idea of offering services to customers may seem desirable to many, most equipment manufacturers simply don’t know where to start. There are new technologies that have to be developed and integrated into their devices. There are new employees and new skills needed within the organization to sell and provide services. And there is a cultural change needed to bring it all together and ensure that the company can deliver on the promises it makes to its customers.
And this is where a new infographic produced by the Modern Equipment Manufacturer can help. The infographic visually breaks down the four necessary steps that any equipment manufacturer can take to introduce service offerings to their customers. The steps start with an investment in new technologies and cloud-enablement, and then evolve those capabilities into actual services that the manufacturer can introduce, and then monetize, for their customers.
For those that are looking to embrace service offerings but don’t know where to start, the new eBook, “The HVACaaS Revolution,” and the new infographic, “The Steps to HVACaaS,” lay it all out. To download a complimentary version of the eBook click HERE. To get a complimentary PDF of the infographic, click HERE.