Challenge
Riding with the wave of digitalization, manufacturers have embarked on a digital journey with connected products but have not been successful in generating new revenue streams from the digital offerings. To address this issue, they need to offer performance-based contracts that are backed with risk-mitigating digital capabilities ensuring equipment uptime and reliability.
TCS Solution
TCS Equiptix equips manufacturers with digital capabilities, enabling them to offer outcome-based performance contracts to their customers. It transforms the entire contract management cycle by building intelligence around the installed base through real-time condition monitoring, predictive health score computation, service order planning, and monthly invoicing. It leverages TCS’ ready-to-deploy machine learning models for health score computation, to realize the potential of predictive maintenance of the installed base. It also runs profitability simulation to recommend the winning price and detect risks for managing performance-based contracts. This brings exponential growth in service revenue from new business models, high profit margins, and supreme customer experience.
Benefits
With TCS Equiptix, manufacturers can enjoy a host of benefits, including:
Increased connectivity to the installed base
Bolstered predictive maintenance
Superior service revenue
Reduced cost to serve
Greater profitability
Sharper ability to win contracts
