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      3 min read

      The Year Ahead: A Connected Service Future

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      Helping Manufacturers Capitalize on the New Service Economy

      This year has been a transition year for many organizations and industries. Manufacturers dealt with supply chain disruptions, an ongoing shortage of skilled workers, and lingering uncertainty about the pandemic. Fortunately, we are embarking on a new year full of promise and potential.

      In 2021, Syncron and Mize joined forces to empower manufacturers to capitalize on the new service economy. We are moving forward as a unified Syncron brand starting in 2022. As a leading provider of service parts planning, pricing, and uptime management solutions, the combined company will continue a legacy of innovation, evolving alongside our clients and exceeding their expectations across the customer lifecycle. Manufacturers are accustomed to disruption, and in Syncron, they will find a partner ready to transform their digital competencies to keep pace with a rapidly changing environment.

      We are proud to have been recognized by IDC MarketScape again as leaders in price optimization, service parts, and warranty management. Equipped with a truly unified, singular platform, your organization will be ready to deliver a complete connected service experience where you can:

      • Address the entire service lifecycle of a product, from proactively monitoring your product suite to detecting possible or future failures
      • Mobilize field teams with the right tools and knowledge to boost productivity and improve first-time fix rates
      • Properly allocate inventory to ensure optimal stock levels
      • Automate parts and contract pricing to increase aftermarket sales and improve margins while building a deeper relationship with your customer base
      • Streamline your end-to-end warranty process to reduce costs, increase supplier recovery, and improve product quality
      • Store all customer and product data and knowledge in one central location that can be accessed with ease by all key stakeholders.

      The combined product organization has taken on many initiatives to drive innovation

      • Syncron formed a Connected Service Experience (CSX) platform team to provide a solid foundation to enhance configurability, extensibility, and scalability. Our customers can expect faster time-to-value from implementations, upgrades, and innovations.
      • The Product teams are focused on delivering industry-leading functionality in all solution categories within Service Lifecycle Management for Manufacturers. All products will leverage SmartBlox architecture to allow our customers to enhance service experience, grow service revenues and margins, and lower the cost-of-service delivery.
      • Syncron and Mize products will come together to deliver seamless and unified service experiences for all stakeholders, including OEMs, Dealers, Customers, and Suppliers.
      • Syncron will be using artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and predictive modeling tools to enhance Mize’s enterprise-level functionality for managing critical service lifecycle management (SLM) business processes like Inventory, Price, Warranty, Field Service, and Uptime.

      A completely connected service offering can have a considerable impact on your overall business. With visibility into the health of your products, failure prediction, and anomaly detection, Syncron can increase product uptime by 20%-40% and improve field service utilization by 10%-30%. This will significantly reduce unplanned downtime and decrease maintenance costs. You’ll also be able to improve the quality of your service and customer experience, optimize resource allocation, and increase SLA and service contract compliance.

      The need for a Connected Service Experience platform with integrated service lifecycle management solutions is growing among durable goods manufacturers and OEMs. 2022 will see a further adaption of IoT, Ai/ML, AR/VR, and advanced analytics to optimize parts inventory, field service execution, price recommendation, and product uptime. The acceleration of digitization of all service interactions will drive service profitability and value delivered to end customers.

      Whether your objective is to monetize your install base, streamline your service lifecycle processes, or optimize the cost-of-service delivery, Syncron has the solution you need to fulfill your service business goals.

      Syncron had one of the best growth years in 2021. Thank you to all the customers who have supported Syncron. We look forward to 2022 and appreciate those who made us part of their journey to a Connected Service Experience.

      BLOG AUTHOR

      Ashok Kartham

      As the Chief Product Officer at Syncron and Founder of Mize, Ashok is a thought leader in the industry. Skilled in Software Lifecycle Management, mobile applications, Software as a Service (SaaS), and Business Intelligence, he shares in-depth knowledge with our readers.