In the highly competitive industry of industrial equipment manufacturing, companies are constantly seeking innovative ways to boost revenue and strengthen customer relationships. One strategy gaining momentum is Equipment-as-a-Service (EaaS), which integrates equipment rentals alongside traditional sales in manufacturing. This approach not only helps manufacturers navigate revenue fluctuations but also fosters enduring connections with customers.
Overcoming Cost Barriers: Integrating Service Management Technologies
For midsize and smaller equipment manufacturers, integrating service management technologies and field service teams can be cost-prohibitive. Many resort to relying on external service providers, sacrificing a portion of customer relationships. This gap limits manufacturers’ potential for identifying and capitalizing on additional product and service opportunities.
Sikich, in partnership with global software-as-a-service (SaaS) innovator To-Increase, presents a comprehensive solution built on Microsoft Dynamics 365 Finance and Supply Chain Management. Together they provide the technology and industry insight to help manufacturing companies profit from EaaS. Sikich deploys and integrates the industry leading business management application, Microsoft Dynamics 365 Finance and Supply Chain Management, with DynaRent Solutions Suite from To-Increase. This solution allows manufacturers to embrace the shift towards EaaS, unlocking a lucrative revenue stream with proven technology while minimizing deployment risks.
As the industrial landscape evolves, manufacturers can leverage this solution not only to enhance operational efficiency but also to strengthen their position in the market. By adopting a holistic approach that combines rentals, service offerings, and EaaS, manufacturers can maximize revenue, improve customer relationships, and thrive in an ever-changing industry.
Deepening Customer Engagement: The Power of Equipment-as-a-Service (EaaS)
Furthermore, integrating rentals into the business model represents a significant opportunity for industrial equipment manufacturers to capitalize on the Equipment-as-a-Service (EaaS) trend. This shift not only provides a means to generate recurring revenue but also fosters collaborative relationships with customers. By offering rental plans supported by service offerings, manufacturers can meet the diverse needs of customers who prefer flexible alternatives to outright purchases. This approach not only mitigates cash flow fluctuations but also deepens customer engagement through shared interests and mutual benefits.
Embracing EaaS goes beyond offering rentals; it entails digitally managing operations to drive efficiency and innovation. Through modern software solutions and IIoT integration, manufacturers can gain insights into equipment performance, streamline processes, and even provide valuable feedback to product engineering teams. By leveraging EaaS platforms like those offered by Sikich and To-Increase, manufacturers can position themselves at the forefront of Industry 4.0 transformations, where equipment becomes not just physical assets but also data-generating digital objects. As the EaaS market continues to expand rapidly, manufacturers stand to gain a competitive edge by adopting comprehensive solutions that streamline operations, enhance customer relationships, and drive revenue growth.
Read more about how this solution can help manufacturers generate more revenue and reclaim customer relationships. Download the EaaS eBook now.
Have any questions about integrating equipment rentals as a service in manufacturing? Please reach out to our experts at any time!
This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.
