In partnership with the Aston Business School Group, Columbus has developed a free, quick and easy game that helps companies assess their competitive strengths, current position on the transformational servitization journey and facilitate a foundation for a future strategy.
Servitization is the concept of manufacturers offering services tightly coupled to their products. It’s about moving from a transactional-based business model (just selling a product) to a relationship-based business model (delivering a service), featuring long-term, incentivised, pay-as-you-use contracts.
A study by the Aston Business School shows Servitization can:
- Sustain annual business growth by 5-10%
- Reduce costs by up to 25-30%
How can Servitization help?
Managing director at Columbus UK, Mary Hunter commented: “Areas like cloud, the internet of things (IoT), big data and servitization are driving rapid change through the manufacturing industry, and in today’s hyper-competitive world, having the ability to adapt quickly is vital to success.
“Columbus helps our customers innovate their business models and through digital technology transform from being production-centric to services focused. This increases customer satisfaction, which in turn, encourages loyalty and secures long term business growth.”
Aston Business School Group’s Professor Tim Baines explained: “This game is a quick and fun way to take a snapshot of your current strategy with regards to the add-on services your firm provides to your customers.
“The tool also challenges you to think about how you will compete in three to five years’ time. You can then easily share the experience with colleagues, prompting an informed debate in this critical area, which will result in opportunities to grow your business by providing advanced services.”
To play the game, click here or visit www.unlockyourinsight.co.uk
Both Professor Tim Baines and Columbus’ business development manager, Stephen Fox delivered discussions on at this year’s Servitization 2016 conference held on October 18.
Professor Baines offered ways to position your business with the servitzation landscape, and Stephen Fox explained how four key technologies were supporting businesses transformation towards a more relationship-based model.
To discover these, and more, insights from the day, click here to read The Manufacturer’s extensive coverage.