IFS study: Servitization and aftermarket contracts pay off for manufacturers
Companies offering annual aftermarket service contracts 24% more likely to report profitability than those doing reactive field service work IFS , the global enterprise applications company, has released a research study of 200 executives to determine how industrial companies are progressing towards servitization—the expansion of manufacturing and product-focused companies into value-added service after the sale.Servitization is of critical interest to industrial companies right now because growth of new product sales may be slowing,