An Installed Base Platform (IBP) is a data platform that gathers, cleans & hosts all of an Industrial OEM’s Installed Base data points in one source of truth. This empowers Industrial OEMs to have all the information they need/want for their customers in one place instead of searching in multiple tools or relying on tribal knowledge. An IBP also fixes one of the biggest challenges of Installed Base data collected over years and decades – the issue of duplicate or inaccurate data that might be found in traditional tools used by OEMs.
Any Installed Base Platform has to meet the following minimum criteria:
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Easy Access to Consumable Information
Traditionally, Industrial OEMs have a multitude of tools that they rely on to capture their Installed Base data throughout the history of their customers. Whether they’re using CRMs, ERPs, Excel, etc. this data exists somewhere and might not be accessible by everyone. IBP eliminates the task of scrolling through records and gives everyone consumable information that can be quickly and easily accessed.
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Connects with all your tools
Industrial OEMs generally have their data stored in multiple systems and use different tools to manage their Installed Base data. Legacy ERPs, CRMs, BI tools, Enterprise Databases, Field Service tools, Support tools, Spreadsheets – An Installed Base Platform can easily integrate with all the tools and databases wherever industrial data resides.
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Industrial Data Enrichment
In addition to ease of access, an IBP also eliminates inaccuracies within existing data. After years of data entries by different employees, and other things, data can often become duplicated, inaccurate, or downright dirty. By utilizing IBP, organizations are able to have their data cleaned, deduped, and blended to provide the most up-to-date information on their existing installed base.
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Access to Reliable Data
Imagine a customer calling and wanting to know about a piece of equipment or part/service that was sold to them a few years ago. Normally a sales/service rep, if they had access to the necessary tools, would have to search in different databases to reference the information needed. (And pray that information is up to date and accurate.) With an IBP they would be able to pull up all necessary information in one specific place in an instance and know it’s accurate.
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Single source of truth across all your customer activities
An IBP gives industrials the ability to have a 360 view of all customer accounts/locations. You can easily find all the information you need about your customers, from parts, services, and warranties data to their propensity to buy at your fingertips. An IBP enables your teams to drive engagement on sales/servicing, and have clean consolidated data. Ultimately leading to more sales, more touchpoints, and sales/service reps focusing on more accounts.
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Let’s you make smart data-driven decisions
With Predictive insights and AI-driven opportunities, Industrial OEMs can easily have the ability to predict their customer behavior and preempt & arrest customer churn. With an IBP, industrials can make smart decisions to focus on 100% of their customers rather than focusing on the top or bottom 20%.
Why do Manufacturers need an Installed Base Platform?
Watch this quick video to understand why Industrials need an Installed Base Platform