FUTURE TECHNOLOGY providing targeted recommendations and proactive support , further enhancing the delivery of servitisation .
Generative AI can be used to further hone the servitised approach , by analysing all the relevant data , indicate where processes are not working well ; and recommend changes to workflows .
The survey reveals how organisations are currently using AI , with capturing new customer segments and targeting new marketings coming out on top , 28 %. This was closely followed by increasing customer satisfaction , 27 %, improving customer retention , 26 %, and securing higher profit margins , 25 %.
Automation , on the other hand , is helping to streamline service delivery . It eliminates manual and repetitive tasks , enabling organisations to provide services more efficiently and at scale . As a subset of this , robotic process automation , RPA is an approach that relies heavily on data-driven insights , AI and connected assets to support its effectiveness .
But fuelled by this rich functionality , it too is optimising back-end processes , reducing operational costs , and enhancing service quality .
In today ’ s service economy , meeting customer demands while balancing employee engagement , SLAs , and costs is challenging . By ensuring efficient job allocation , real-time adjustments ,
and predictive analytics , AI enables businesses to streamline operations , enhance service delivery , and boost customer satisfaction . However , the human touch remains crucial , AI supports , not replaces , decision-makers .
The integration of AI and automation into business operations is not just a trend ; it is a strategic imperative for organisations aiming to lead in the servitisation journey . These technologies are not merely tools for operational efficiency ; they are the catalysts for innovation , customer satisfaction , and sustainable growth .
Enterprises that embrace AI and automation , and in lockstep address any workforce hesitations , put in place organisational guidance for adoption , and nurture the maturity of the organisation to support AI and automation initiatives , are positioning themselves at the forefront of their industries , shaping the future of service delivery and customer engagement . They are not just adapting to change ; they are driving it , creating a competitive advantage that is difficult to replicate . As we look to the future , the role of AI and automation in servitisation will only become more pronounced . Now is the time for organisations to embrace these technologies , innovate relentlessly , and lead the charge in this transformative era of business . •
Tightest recessionary conditions since 2008
We are seeing continued growth in demand for subscription services in 2024 , as the move from Capex to Opex gains momentum . A key driver for this is the current economic conditions , which are some of the tightest the industry has experienced since the recession of 2008 .
At present , it is common for companies operating in the channel to be asked for letters of credit or bank guarantees when transacting
Geoff Greenlaw , VP EMEA and LATAM Channel , Pure Storage
business , which demonstrates the very real pressure on cash in the system , a situation which will continue into 2024 and even 2025 . Moving to Opex via subscription services makes a lot of sense and provides an instant remedy to cash flow issues in the channel .
Channel partners that embrace this trend will be the ones that see the most success .
However , there is a big caveat here . Subscription services will only do well if they are properly supported by a robust set of relevant SLAs and guarantees . We are now entering a new phase in technology procurement where SLAs are becoming differentiators and , in many cases , the ultimate decider in purchasing decisions .
Companies that are leaders in their sectors are recognising this shift and making innovative leaps forward by ensuring that their SLAs are tied directly to customers ’ C-level priorities . For example , in the data storage space , SLAs covering energy-efficiency , capacity density , and data loss protection are now crucial factors in subscription adoption , and this trend will continue in 2024 and beyond .
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