Future of smart industrials
Digital – the key to driving exceptional customer experiences while enhancing efficiency and effectiveness.
Signals of change
Everywhere you look, there are signals of change for aftermarket and field service in industrial manufacturing. KPMG firms’ experience and research indicate that industrial manufacturers are facing a rapidly evolving market characterized by technology disruption, changing customer demands, privacy and security challenges, and operational challenges.
KPMG professionals identified eight signals of change based on the investment priorities that industrial manufacturing survey respondents reported. Manufacturers should gauge the presence and strength of these signals in their own market and customer base to help set their strategies and priorities.
8 Signals of change on Smart industrials:
- Connected products
Development and deployment of connected products will create digital services that improve service efficiency and effectiveness, increase customer lifetime value, and drive services growth. - Shift to XaaS models
Manufacturers’ shift to an anything-as-a-service (XaaS) model involves the development of new services as well as the capabilities to price, sell, deliver, and bill for a broad range of services through subscription, pay-for-use, or other models. - Digital transformation
Manufacturers are modernizing and transforming their organization’s technology architecture, applications, and infrastructure. This is allowing them to establish seamless technology integration and adopt advanced digital capabilities, such as generative AI and augmented reality (AR)/virtual reality (VR)/mixed reality (MR). - Installation excellence
Manufacturers are optimizing capabilities to install/implement solutions that maximize value to the customer while increasing service attach rate for digital services and customer lifetime value. - Resilient supply chains
Manufacturers are building resilient supply chains that connect customers, channel partners, sales, field service, supplier development, and procurement processes to orchestrate visibility and collaboration across the lifecycle of a customer solution. - Omnichannel service
Redefining contact center capabilities will enable efficient operations while providing proactive support across an expanded range of support areas with an omnichannel interaction model. - Deployment of digital twins as service enablers*
Use of information, including install base and data from connected assets/sensors, will enable manufacturers to develop and model a digital view of customer solutions and the operations they support. - Intelligent analytics
Industrial manufacturers are utilizing intelligent analytics to optimize pricing, sales, quoting, service planning, and service execution.
Dive into our thinking:
Future of smart industrials
Download PDFHow KPMG can help
The KPMG in the US team worked closely with KPMG firms in other regions to develop a new vision for the global field service business spanning multiple lines of business. KPMG team members designed a common global business template for processes, roles, technology, data management, service delivery models, and governance. They leveraged leading practice processes and widely accepted, out-of-the box technology. KPMG professionals also established proper governance for master data, designed intercompany processes for integrating core manufacturing and field operations, and deployed pilots in two countries.
Benefits to the client:
The KPMG in the US team helped the client:
- Successfully adopt a global business template designated to reduce costs and streamline operations for the field service business.
- Improve margins, reduce expenses, and increase operational efficiencies, with a potential value realization of 10 percent EBITDA.
- Support IT platform integration by retiring approximately 100 ERP platforms globally and an even larger number of edge solutions.
- Enhance communication and collaboration with customers, suppliers, and sub-contractors.
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