Recent Syncron study, a comprehensive analysis of aftermarket service today, includes data and insights from 500 service and supply chain leaders across Europe and the United States.
CHICAGO – April 13, 2023 – This week, Syncron released their latest eBook, “Build a Resilient Aftermarket Service Business,” an extensive overview of the current state of aftermarket service, including opportunities for optimization and strategies that can help manufacturers thrive in a state of economic uncertainty.
With data and insights from 500 service and supply chain leaders across Europe and the United States in industries including construction and mining, automotive, agriculture and industrial equipment, this research explores:
- The current state of the aftermarket and broader macroeconomic factors service organizations are working through
- Challenges with various processes in the service lifecycle
- How service organizations are addressing these challenges
- Future-proofing and opportunities for growth
“Factors including economic uncertainty, supply chain volatility, labor shortages and the cost of working capital are affecting the vast majority of service organizations,” said Dr. Friedrich Neumeyer, CEO, Syncron. “However, service leaders who understand the importance of optimizing spare parts, parts pricing and service lifecycle management can see significant benefits such as maximized margins, increased sustainability, better scalability, more flexibility and a superior customer experience.”
According to the research, almost all service organizations are facing challenges with spare parts optimization (99.8%), parts pricing optimization (99.6%), service lifecycle management (99.6%) and technician enablement (100%).
Although a majority of service and supply chain leaders (60%) shared that their organizations use manual or custom-built solutions to manage these processes, 95% agree that their organization would prefer a modular service lifecycle management solution that enhances the current processes they have in place.
“This data supports what we often hear from manufacturers who come to Syncron looking for a more advanced, streamlined solution,” continues Dr. Neumeyer. “Our goal is to empower service organizations with cutting-edge, state-of-the-art solutions that transform their approach to service lifecycle management from beginning to end.”
Syncron accelerates leading manufacturers and distributors to capitalize on the world’s new service economy. We optimize aftermarket business profitability and working capital, increase customer loyalty, and enable our customers to transition successfully to future service-driven business models. Syncron connects and synchronizes every aspect of aftermarket service with more than $3 billion in annual value creation across OEMs and distributors in automotive, construction, mining, agriculture and industrial equipment, medical devices, consumer durables, high-tech, aerospace, and other industries. Our Connected Service Experience (CSX) cloud platform offers leading aftermarket sales and service solutions to effectively plan, price, and service your customers. CSX Cloud offers our customers competitive differentiation through exceptional aftermarket service experiences while driving significant revenue and profit improvements into a manufacturer or distributor’s business. The world’s top brands trust Syncron, making it the largest privately-owned global leader in intelligent service lifecycle management SaaS solutions. For more information, visit syncron.com.
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