We had the opportunity yesterday to spend a few hours with some of our power users across a wide range of our customers in our semi-annual Power User Summit. It was fantastic to be able to share challenges, successes and learnings and enable our growing community to be able to learn from each other, even across industry verticals. The common theme across a variety of panels and discussions was around how to drive transformation – both of the business and business model, but also of commercial processes and the people and mindset of the organization.
Kicking off the event, we were fortunate to have an expert panel, led by Nate Savona. Nate is a partner with Oliver Wyman in their Automotive & Industrial products practice. Joining Nate were Scott Patterson, VP for the Fire Pump Business at Peerless Pump (a subsidiary of Grundfos) and Carlos Gomez, VP for the Augury Strategic Alliance, with Baker Hughes. The big topic was transformation, and how equipment manufacturers are transforming their business models by offering new, differentiated services and making the shift to product as a service. Of course, the core business needs to be performing well to fund the investments required to transform the business model. Both Scott and Carlos bring the perspective of having had multiple roles in the ‘core’ business – i.e., selling machines, parts and service – and now leading the transformation of their respective companies’ business models with connected and analytics driven offerings. They were both able to share insights on the challenges and how they and their organizations have overcome these in order to bring next generation services and offerings to market successfully.
We also had a customer learning sharing session, which kicked off with two commercial leaders, Jose Benitez, Director of Services North America at GEA, and Andrew Pergande, Director of Commercial Operations for Johnson Controls. Jose and Andrew shared how their organizations had leveraged data and analytics, powered by Entytle, to scalably drive their service revenue growth. This included being able to leverage Entytle to be more data driven in how they segmented and engaged customers and which customers they would target with specific offers at specific times. Both Jose and Andrew also hit on the change management challenges that they worked through with their organizations in order to achieve real results – i.e., acceleration of services revenue growth.
Lastly, we had a discussion focused on recent product developments that Entytle has delivered, as well as the areas we are focused on moving forward. Major items that were discussed included the Entytle integration with Microsoft Teams (i.e., you can ask Entytle to ‘fetch’ customer, service and transaction details, all from within Teams), our new Parts Pipeline Generator, where customers can target customers leveraging parts replacement rates and our IB Data Studio (a no-code data studio, purpose built for equipment manufacturers). A variety of other enhancements were reviewed including making Entytle home screen configurable, expanded filtering & segmentation options and further enhancements to the Entytle mobile app. Our expanded offering of data services was also discussed, helping equipment manufacturers with data quality and a wide range of data analytics and AI capabilities, purpose-built for the industry. We also had a discussion on the areas that we are focusing on moving forward – Generative AI, further data quality improvements, and integration and collaboration enhancements – all focused on helping equipment manufacturers maximize the value from their installed base and their data.
It is always fantastic to get our customers together so that they can share and learn from each other. We are excited to be able to partner with a great group of companies and a tremendous group of transformational leaders. We look forward to continuing the conversation with them and continuing to partner with them to drive their transformations further.