When I visit a doctor for a checkup and complain about a stomach ache, and the attending physician collects my blood sample, surprisingly, I do not question the doctor for taking my blood sample and performing labs. Most importantly, I expect that the lab results would be shared with other specialists in the same hospital/clinic. Why? Because we understand that having access to comprehensive data is crucial to delivering holistic healthcare. It simplifies the process of determining the next course of action, improves efficiency, and saves time. Of course, it saves me the trouble of having to provide blood samples for tests to every single physician I visit.
However, the machinery industry operates differently. Each business unit maintains its data in isolation, which leads to data fragmentation resulting in data inefficiencies and hindered organizations’ decision-making capabilities. Interestingly, even within the same team, two salespersons may have duplicate data. This situation persists due to the industry’s reliance on outdated methods like Excel spreadsheets and paper-based record-keeping processes. Mergers and Acquisitions compound the issue of data fragmentation, as companies face difficulties integrating databases inherited from acquired organizations, impeding efforts towards cohesion. The lack of centralized and integrated data in the manufacturing industry poses challenges, inhibiting their ability to make informed decisions and hampering process optimization. Unlike in the healthcare industry where access to complete information is considered standard, the manufacturing industry struggles with siloed data and duplications, hindering progress and efficiency.
In the competitive landscape of Industrial Equipment Manufacturing, expanding the product and services portfolio is a common strategy for growth. However, managing multiple business units with different offerings poses challenges in achieving the true single source of truth for Industrial OEMs. With the introduction of the Unified Business Unit, Entytle aims to overcome these limitations by consolidating all product lines and services into one cohesive entity. This strategic move empowers executives, account managers, and sales teams to gain a complete understanding of customer relationships, make informed decisions, and deliver targeted aftermarket service offerings, all under the umbrella of the Unified Business unit.
Executives can harness the power of a unified view at the organizational level to formulate superior sales strategies, identify trends, predict future opportunities, and optimize downstream processes. With increased profitability and efficiency, they can confidently prioritize solutions and investments to drive success.
Account managers are empowered to identify cross-selling and up-selling opportunities across departments, offering complementary deals to customers. The unified view fosters cross-functional collaboration, enabling data sharing among different departments within a manufacturing company. This collaboration facilitates a more comprehensive understanding of customer needs and preferences, leading to tailored solutions and improved customer satisfaction.
Sales teams benefit from targeted aftermarket service offerings through a comprehensive understanding of the Installed Base Automation (IBA) platform. By leveraging data analytics and predictive insights, sales teams can proactively identify maintenance and upgrade opportunities, ensuring timely support and enhancing customer experience. This proactive approach not only strengthens customer relationships but also creates new revenue streams through service contracts and long-term partnerships.
Now, for a moment let’s consider the most important person in this equation – the machinery customer (Installed Base). These customers will appreciate the fact that you have a centralized view of their entire assets, parts, service, warranties, etc in one place. They don’t have to ring up several departments – they just know that all their needs can be met in one place. This speaks volumes about the care that the OEM puts in maintaining customer relationships and also helps push aftermarket growth.
Expanding the product and services portfolio is a common growth strategy in the competitive Industrial Equipment Manufacturing landscape. It allows manufacturers to offer more comprehensive, higher-value solutions to customers, rather than individual products. To achieve this, manufacturers need a holistic understanding of their customer relationships across products and services. The diversity of business units and offerings poses a challenge in establishing a single, reliable source of information that enables OEMs to engage the installed base proactively based on data-driven insights.
Unlock the transformative potential of your Installed Base with Entytle’s Unified Business Unit. By leveraging data, fostering collaboration across departments, and embracing emerging technologies, this approach empowers your organization to deliver superior customer experiences, drive revenue growth, and achieve operational excellence. Contact Entytle today to learn more about how this innovative solution can revolutionize your customer engagement strategy.