Service Business Innovation

High-tech companies that are seeking to expand their business often look to beef up their service offering in an attempt to increase revenues and achieve growth. Yet, many of these companies tend to miss opportunities for new business innovation – based on service – instead choosing to focus on a traditional “product attached” set of services, such as installation, training and maintenance.

While “product attached” services can contribute to a company’s financial health in the short term, they do not provide significant mid-to-long term growth.  In the end, “product attached” service revenues are dependent on actual product/solutions sales, and are often diminished by price reductions, as customers apply pressure or move to “per call” agreements.

The Service Business Innovation (SBI) paradigm tends to provide a wider and more strategic direction, positioning service at the center of new business approach in which the company shifts its product or solution orientation to a service-centric offering. This approach encourages the implementation of innovative business models, with greater potential for long-term increases in revenues and profitability.

Our Service Business Innovation (SBI) cycle consists of 4 stages:

·         Uncovering the opportunities – using a method of “Brainstorming within a Box” (combining the voice of the customer and the voice of the product) to come up with new directions for service business. Grading and ranking the opportunities and choosing direction to be assessed.

·         Assessment – building an initial business plan for the chosen directions. Covering the “Why”, the “What” and initial “How”. Validate the direction and provide the required information for a go/no go managerial decision.

·         Building the platforms and skills – preparing the implementation plan including go to market plan, launch plan, sales plan, operational plan, congruence plan , partners program, tools & procedures, KPI’s, P&L etc.

·         Escorting the scaling up – launch the program including sales campaign, sales cycles, operational build up, KPI’s measurements, financial evaluation, feedbacks etc.

Our SBI cycle is based upon multidisciplinary expertise (services, strategy and technology) and change management guidelines to support a focused business oriented approach.

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