1. About Service Business Innovation
The importance of Service Business Innovation
In a world of fierce competition, in which companies use their resources to maintain a technological
advantage, companies need to move from business models based on products and technology to models
where value comes from intangible things like service, knowhow and relationship. The value creation process
is shifting from being a supplier, into customer experience and co-creation of value by providing innovative
services. The need to create substantial competitive advantage via services becomes a must to manufacturing
and traditional solution (product and services) companies. It is forecasted that by the year of 2020 the
Business to Business (B2B) market will be based mostly (58%) on services compared to 32% today.
As such, companies that will not adapt their strategy, business models, concepts and processes to support
new innovative services, will find it hard to compete.
Service Business Innovation (SBI) captures the ability to anticipate customers’ behavior, needs and future
strategies and to find the right services to address them all while providing a unique value proposition.
The Challenge in SBI cycle
Service Business Innovation is a multidisciplinary structured innovation approach that benefits from
understanding what values customers reward.
Companies need to develop their offering, business models, sales cycles, operation, concepts and methods in
order to define, provide and measure the right new services. While aiming to improve Customers’ experience,
the customers better be involved at all of the service development stages: from the value co-creation search
and evaluation, to the service plan and processes definitions. Furthermore, today customers are willing to pay
for information, advice, assurance and for infrastructure operation or leasing. This shift in value source
requires an ongoing changes and improvements of the offered service to meet the changing needs and
expectations. In the current competitive environment, it is not enough to react to new need, but to optimally
anticipate or even initiate it. SBI needs to address all the above while creating new value, in the right time, to
those that provide and those who consume the service.
But SBI is not only about ideas. It is a process that requires the discipline not only to recognize the idea but to
implement it while integrating the right target, time to market, development process, team, leadership,
change and risk management and so on.
Conclusion
Service Business Innovation is where the world is heading. While stepping into this direction, the company
must understand the complexity of the concept while taking the discipline to adapt and change the internal
way of thinking, methods and processes in order to provide the right value proposition. The focus has to shift
into customer’s needs while internally managing the service business and encouraging service culture and
leadership.
About C-urVision
C-urVision assists in creating more profitable business by offering a full Service Business Innovation Cycle. We
are leading our clients towards new service’s creation and delivery while handling the complex and
multidisciplinary challenges along the way. C-urVision also assists companies in improving and monetizing
their existing service activity by offering a focused cycle from gap analysis to improvements plan and
execution. We believe in escorting our clients all the way to success, as such we are focused on
implementation and up scaling of the new direction, using our experience and proven tools & processes.
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