With IoT manufacturers can monitor the performance of their products after they leave the shop floor. As a result, they can gain deep insights into how customers are using their products. This knowledge can transform how they add value to customers and identify new revenue opportunities.

1. September 2017
Sreenivasa Chakravarti
Head, Innovation & Transformation Group, Manufacturing
Subhash Sakorikar
Director, Innovation & Transformation Group, Manufacturing
The Magic That Happens When
Manufacturers Digitally Attach
Themselves to Their Products

2. The Power of Digital Connectivity
IoT is increasingly penetrating all
areas of manufacturing
Manufacturers can now monitor the
product throughout the customer
lifecycle
This enables them to develop new
revenue streams and improve the
customer experience (CX)

3. Transforming with IoT
Tap into data from IoT
enabled devices to
transform how products
are designed, made,
and supported Get a 360-degree view of
customers throughout the
customer lifecycle
Shift focus from upfront
product sales revenue to
lifetime revenue
Gain unique insights into
customers’ present and
future needs
Use data streams to
customize products to
meet customer needs

4. The Digital Competitive Advantage
IoT helps manufacturers
create new and unique
revenue streams
New business models allow
manufacturers to be service
providers as well
This data shifts away from
reactive, break-fix services
to predictive maintenance
services
Data from IoT helps
constantly develop products
and add features

5. Migrating to a Servitization Model
Transform from
product purveyors to
service providers using
the servitization model
Be mindful that
charging per use
instead of selling the
product has financial
and operational
implications
Shifting of the
corporate mindset
and adequate
preparations is
necessary

6. Digitizing Your Distribution
Manufacturers can use digital
channels to bypass distributors
and directly sell to end-consumers
Alternatively, manufacturers
could partner with their
ecosystem to collect and share
data to generate more leads

7. Use IoT to:
Gain a strong and unique competitive
advantage
A New Business Era
Develop digitally connected products that
continually report back on their performance
Reinvent the business model and create new
streams of revenues

8. Copyright © 2017 Tata Consultancy Services Limited
Contact a Consultant
Download the Article
The Magic That Happens When
Manufacturers Digitally Attach
Themselves to Their Products