Guest blog by Michael Blumberg, Blumberg Advisory Group
Syncron, a leading provider of Service Parts Planning, Pricing, and Uptime Management Solutions, has announced a merger with Mize, a leading provider of Field Service Management (FSM) and Warranty Chain Management (WCM) solutions. The merger creates the world’s largest privately-owned provider of Connected Service Experience (CSX) and Service Lifecycle Management (SLM) solutions for manufacturers, distributors, and service ecosystem partners. The new entity brings together two well-recognized leaders in their respective cloud solutions markets.
The merger represents a natural fit for Mize and Syncron from a go-to-market (GTM) and product functionality perspective. Mize and Syncron currently target the same customer base and industry segments with synergistic software functionality. The combined company will use the Syncron brand and establish a fast-growing innovator with a customer base of more than 200 leading and respected brands in the automotive, construction & agricultural equipment, industrial engineering, high-tech, med-tech, and consumer durables.
Syncron’s product suite offers a fully integrated solution stack that helps companies optimize parts inventory planning, pricing, and uptime through IoT, AI, ML, and predictive monitoring capabilities. Mize brings enterprise-level functionality for managing critical SLM business processes and capturing essential data associated with warranties and service contracts, field service, depot repair, inventory/parts, and knowledge enablement.
Through this merger, Syncron can provide manufacturers and their channel partners with the first comprehensive single platform portfolio that provides a real-time view of install base service requirements and addresses a broad array of complexities associated with managing these requirements. This type of solution helps streamline and automate data sharing between enterprise systems that manage service interactions (i.e., field service, warranty management, depot repair, etc.) and those that plan service resources (e.g., parts inventory, parts pricing, etc.).
“Manufacturers today use disparate systems to manage their service and parts business leading to silos of data, disconnected processes, and lower profitability. The combination of Syncron and Mize for the first time brings the leading service and parts management platforms together to maximize value to the customers,” said Ashok Kartham, founder and CEO, Mize. “With a unique ability to have one common real-time view on service parts, field service workforce, service histories, parts data, and pricing, we can provide a new level of value creation for our customers unmatched in the industry.”
“There is a growing need among end-users for software solutions that combine vital aspects of Service Lifecycle Management (SLM) within a single platform,” notes Michael Blumberg, President of Blumberg Advisory Group. “Unfortunately, the options have been limited, particularly when it comes to finding system vendors that combine comprehensive parts planning and pricing optimization tools with IoT data and robust applications that manage day-to-day SLM interactions. We anticipate Syncron will fill this gap through the strength of the functionality and track-record of innovation from the combined companies.”
The need for integrated end-to-end SLM functionality is becoming increasingly more critical for manufacturers and channel partners as they seek to generate more revenue and profits from service and implement digital transformation initiatives to improve CX and customer satisfaction.
“Product-related services have become the lifeline of manufactures’ EBITDA and net margins. Protecting end customer brand experience is of pivotal relevance for every manufacturer. Together we can help create higher-margin businesses and recurring revenue from subscription and outcome-based business models.” said Dr. Friedrich Neumeyer, CEO of Syncron.
“As leaders and innovators in their respective markets, we anticipate that Syncron will leverage Mize’s synergies to strengthen their position within the SLM market and bring new, value-enhanced capabilities to end-user organizations,” notes Blumberg.
Michael R. Blumberg
Michael Blumberg is President of Blumberg Advisory Group, a leading management consulting firm in the Service & Support Industry. Blumberg is a growth catalyst helping manufacturers, their channel partners, and 3rd Party Service providers power service revenue, market share, and business expansion into previously unchartered territory.