Syncron Hosts Innovate2019 to Enable Manufacturers in the Shift to Servitization

Executive summit will draw manufacturing leaders from around the world to gain insights and information on how to capitalize on the significant opportunities related to selling products as services

News provided by

Syncron

Aug 20, 2019, 09:00 ET

STOCKHOLM, Aug. 20, 2019 /PRNewswire/ -- Syncron™, a provider of cloud-based after-sales service solutions focused on empowering the world's leading manufacturers to maximize product uptime and deliver exceptional customer experiences, today announced the launch of Innovate2019, a first-of-its-kind global summit focused on preparing manufacturing leaders for servitization, which is the transformation from almost exclusively selling products to selling products-as-a-service. The event will take place 13 – 14 Nov. in Stockholm.

In the fast-approaching servitization-centered economy, companies will no longer just sell products, instead they will offer the value or business outcomes those products deliver. This new model will encourage a shift to subscription-based businesses models, which will completely redefine the way manufacturers operate and serve their customers.

According to IDC, 30 percent of G2000 manufacturers will offer products-as-a-service by the end of 2019 in order to meet mounting customer expectations, differentiate their portfolios, strengthen customer loyalty and ensure the long-term financial viability of their businesses.¹ The connected nature of newly manufactured products, coupled with ever-evolving customer expectations, is accelerating the deployment of these new business models that allow manufacturers to capitalize on the business opportunity servitization presents. However, although an increasing number of original equipment manufacturers (OEMs) are rapidly moving toward servitization and subsequently future-proofing their businesses, they must simultaneously focus on optimizing the performance of their current service operations to meet the complex needs of a long-tail of disconnected products – products that will remain in service for at least the next decade.

Innovate2019 will be a two-day event, taking place at Stockholm's Hotel At Six, and provide a unique opportunity for manufacturing leaders to meet with like-minded professionals. Program highlights include:

Vision. Hear from leaders in academia, industry analysts, management consultants and executives from leading, global OEMs as they share their visions of how the shift to servitization will transform businesses, economies and livelihoods
Insights. Gain the insights, information and relationships needed to accelerate on the journey to servitization, as products-as-a-service ushers in a new breed of customers
Economics. Understand the economic opportunity servitization and a subscription-based business model present
Relationships. Network with like-minded executives and practitioners
Solutions. Hear about new technology solutions that have been specifically designed to enable manufacturers to simultaneously optimize their break-fix service models while deploying new business models to make the transition to servitization

"Making the shift from selling products to selling the benefits of products will require OEMs to completely redefine the way they do business," said Aly Pinder, Program Director, Service Innovation & Connected Products at IDC. "Essentially manufacturers will need to turn their current operations upside down to transform and shift their mindsets from product volume to product performance, durability and reusability."

Innovate2019 will provide manufacturing leaders with a forum to meet, speak with and learn from like-minded peers about the opportunities, challenges and transformative thinking required to accelerate the journey to servitization. The event will also include industry insights from analysts, thought leaders, academics and executives. Speakers include:

Friedrich W. Baumann, President, Aftersales/Alliance Management at Navistar International
Carlo Alberto Carnevale Maffè, Associate Professor of Practice of Strategy and Entrepreneurship at SDA Bocconi School of Management, Bocconi University
Kent O'Hara, Senior Vice President, Aftersales, Renault-Nissan-Mitsubishi Alliance
Aly Pinder, Program Director, Service Innovation & Connected Products at IDC
A select group of Syncron thought leaders including Anders Grudén, CEO; Gary Brooks, CMO; David Reiling, CCO; Henrik Lenerius, Global Head of Products and Erik Lindholm, Head of Product Strategy

"At Syncron, we're honored to have long-term relationships with executives from some of the most recognized manufacturing brands in the world," said Anders Grudén, CEO of Syncron. "In our interactions with these executives, it became clear they're keenly aware that to remain relevant in a hyper-competitive world, they must optimize the performance of their core business models while simultaneously investing in the development of innovative, future-oriented strategies and processes that will enable them to pivot and offer products-as-a-service. Innovate2019 is a response to our customers' requests for a global event to bring together like-minded manufacturing executives to network and exchange ideas and information on how servitization will shape the future of their businesses. We are excited to welcome leaders from around the world to our hometown of Stockholm!"

Registration is open to manufacturing and service leaders from around the world. To learn more about the Innovate2019 agenda, click here. And, to register, click here.

About Syncron
Syncron empowers the world's leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry-leading investments in research and development, to providing the fastest time-to-value, Syncron's award-winning, cloud-based service parts inventory, price and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.

¹ IDC, Servitization and Service Parts in the Age of Ecosystems, Doc # US43378419, Jun. 2019

SOURCE Syncron