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Digitising business: transforming business models from products to services

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The Ritz London

150 Piccadilly

London

W1J 9BR

United Kingdom

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Breakfast Meeting - 08:00am to 10:30am

Digitising business: transforming business models from products to services

Whether organisations are selling software or physical devices, the shift from product to ‘value’ is a key component of today’s digital transformation.

There is a move to subscription rather than perpetual licences. Cloud offerings have shifted IT spending to a pay-as-you-go financial model, which has made it possible for end-users to turn CAPEX concerns into OPEX, removing the need for heavy upfront spend and transitioning into manageable monthly outgoings, in turn allowing the focus to be on utilisation rather than cost considerations.

In this economy customer experience is a key driver for end-user loyalty; and understanding customer behaviour is key to securing recurring revenues and reducing customer churn. In this digital age being able to price, package and accurately monetise the value of your offerings is vital for business agility, and maintaining that loyalty.

For example, medical device vendors are no longer in the business of selling machines, they are now in the ‘wellness’ business. A Hospital no longer purchases an expensive ultrasound machine, they purchase scans based on volume (usage). The advantages of this are in making scans more accessible for all, which gives value to the hospital being able to offer this service to their patients; it also creates a predictable, recurring revenue stream for the medical device manufacturer.

Naturally enough there are some obstacles in the way of successful transitions to this way of operating:

  • A shift to a subscription model has impacts on an organisation financials, they need an awareness of what’s involved across the entire business.
  • Big operational changes will be needed; back office systems will need to be re-evaluated to support a subscription business.
  • New types of new product awareness will be needed, and the way a product is priced, packaged, marketed and delivered will likely change.
  • A cultural shift is needed. This will start with buy in by C-suite, and involve developing a start-up mind-set, with the ability to adapt quickly. Different skills will be needed to facilitate this, such as a facility with innovation techniques.

None of this will be easy. But the opportunities are enormous.

The questions we will explore

During the meeting we will focus on strategic questions such as:

  • How to collect install base insights (metrics), and improve decision-making based on utilisation awareness
  • How your products are being utilised - improve customer satisfaction and retention levels (renewals) in a highly competitive environment, by having a clearer view on the value you are delivering to your customer
  • How to gain better awareness of your product utilisation, and its value to your customer
  • How to shift to more agile monetisation methods, while still leveraging your existing back office
  • How to protect your digitised products from piracy and counterfeiting
  • How to improve your customer experience with business agility, by making it easier to purchase, install and roll-out use your solutions

Who is invited?

Top management at large software providers and intelligent device vendors: COO, CMO, CIO, and Heads of Product Technology.

Registered attendees include:

  • Managing Director - MGISS
  • MD - IHS Markit
  • Chief Innovation & Digital Officer - Halma plc
  • CTO Cyber - QinetiQ
  • Product Marketing Director - Temenos
  • Marketing Director - Philips UK

Successful companies will ensure that they develop the sophisticated skills and knowledge to recognise and exploit the opportunities that digital technology brings to the development of new digital services that enhance existing products. If learning and understanding how to do this are priorities, then this briefing is a must-attend.

Be one of a select group of senior business professionals around the table at The Ritz in central London who will all bring their expertise to bear.

This breakfast briefing is brought to you by Gemalto, in association with Business Reporter, and is only for senior executives as mentioned above. Registrations of junior professionals, consultants, solution providers or other sellers to this market won’t be accepted. For any enquiries, please contact Lace on 0208 349 6458 or email lace.b@business-reporter.co.uk.

This breakfast briefing is free of charge to attend. However if you cancel your attendance less than two weeks prior to the briefing, you will have to provide a replacement of equal seniority otherwise you will be a subject of £150 cancellation fee.

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The Ritz London

150 Piccadilly

London

W1J 9BR

United Kingdom

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