The processes and time frames for establishing servitization
The processes and time frames for establishing servitization
Having explored the key reasons why organisations are undertaking servitization and what the primary drivers are, now let us take a closer look at the processes involved in developing servitization.
Of particular interest within this study, is that due to the way the study is structured, we can also examine the differences between the process and approach by those who have already developed a servitized solution, against the expectations of those who have are in the development stage.
To begin, we can contrast the timeframes of the actual deployment of a servitized solution and the expectations of those in the development phase.
We asked those respondents who had already established a servitized platform how long it took them to take the project from development through to a live solution available to their customer base.
Over two-thirds (67%) of the respondents within this group stated that the duration was more than a year, with slightly over a quarter (28%) of these stating that the process took more than two years.
Just over a fifth (22%) of respondents that have an active servitized element in their service portfolio stated that it took them between six months to a year to go from development to live, while just over a tenth (11%) stated that it took less than six months.
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"Has the pandemic introduced a new wave of customer pull that is further driving the need for more servitized offerings across manufacturing sectors?"
One area for further exploration in our follow-up interviews, for the qualitative phase of this study, will be to explore where the differences lie amongst those organisations at both ends of the spectrum – is there something those that are able to develop such offerings faster already have in place to facilitate more rapid development? Or is there something they are overlooking?
However, as we return to the hard data of this report, how do these time frames compare with the expectations of those in the development stage?
It would certainly seem that the current expectation has a more optimistic outlook in terms of the length of time to develop such solutions than the current reality. Amongst those companies, just under two-fifths (39%) expect he process to take more than a year, and only a little over a tenth (11%) are planning for the project to take more than two years.
The most common estimation within this response group is for the project to take between 6 months and a year which was 39% of this segment of the study. Meanwhile, over a fifth (22%) of companies currently in the development process of their servitization offering believe they will take less than six months to develop their servitization offering.
With this understanding of the expected and actual time frames for the development of servitized elements within a service portfolio, we shall now look at the approaches companies have already taken in developing their servitized offerings and compare these with the approaches outlined by those in the planning stage of doing so.
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