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TSIA STAR Awards 2020
TSIA is focused on helping our member companies optimize the value propositions of their products and services for customer delight, revenue growth, and business scale.
Each year, our member companies submit applications to be considered for STAR Awards in recognition of their innovations in value creation, in addition to other categories. All STAR Award finalists and winners are selected by peer leaders in the technology industry who voted on how the innovation impacted the customer, how it impacted the business, and the cohesiveness of the application itself.
There can be no higher praise than recognition from one’s professional peers and it gives me great pleasure to share the three winners in this category: Cytiva, Dell Technologies, and IBM.
Cytiva is a global provider of technologies and services that help advance and accelerate the development and manufacture of therapeutics. Cytiva experts and technologies enable breakthroughs in science and medicine that have helped shape today's biotechnology industry. Previously GE Healthcare Life Sciences, Cytiva has nearly 7,000 employees and operations in 40 countries and is part of the Danaher Corporation Life Sciences platform.
Cytiva introduced a new 360 approach to services with their OptiRun service. The OptiRun service brand provides a service solution for life sciences research and biomanufacturing equipment and provides an innovative approach that focuses on measured business outcomes.
With customers complaining Cytiva lacked differentiated support activities during equipment lifecycle, was slow to solve problems, had a break-fix mindset, and did not have enough “connecting and nurturing points” after the initial sale, the offer team knew it was time to take decisive action.
Faced with the challenge of creating a strong and differential value proposition that addressed the above issues, they embarked on an extensive customer discovery effort to understand the target business outcomes, the business challenges, and use cases for each market segment in the face of the rapid pace life sciences industry.
They courageously took legacy service offers off the market, sacrificing tens of millions of dollars, and refocused their efforts to innovate with essential new outcome focused offers to meet the newly discovered market needs. Not willing to be the service ‘afterthought’ of typical product kickoffs, the team successfully secured executive alignment, marketing launch ownership, and the necessary funding to make the launch a global success.
With strong awareness from the successful global launch of outcome focused service offers, OptiRun service agreements increased by 800% enabled by the largest contracts ever in two of their market segments.
Read More About Cytiva’s Best Practices in Service Offer Development.
Dell Technologies (NYSE: DELL), is a Fortune 500 company that helps organizations and individuals build their digital future and transform how they work, live, and play. The company provides customers with innovative technologies with a broad technology and services portfolio. Dell has over 150,000 employees worldwide.
Dell Technologies recognized that customer consumption behavior was shifting away from fixed contracts to as-a-Service and consumption models. They pivoted promptly to address customer consumption preference and were first to market in offering a combined e-commerce and offline acquisition model for their completely new subscription-based service portfolio.
Customers love it. Dell saw CSAT scores rise by 92% over their older term fixed contracts model. Customers have responded positively to the flexibility to upgrade, downgrade, or cancel anytime without termination fees.
As a result of the shift towards subscription offers and e-commerce accessibility, the attach rates for premium services grew by an impressive 13.80%pts to 32.3% (YOY Q1 2020).
Read More About Dell Technologies' Innovation in Subscription Services.
Using Artificial Intelligence (AI), the IBM team has created a Client Health Predictions (CHI) solution that predicts which customers are likely to expand, reduce, or discontinue their usage of IBM’s XaaS offerings three months in advance of a renewal milestone.
The powerful solution provides predictive analytics for all of IBM Cloud, including infrastructure services Bare Metal and Virtual Server, and Platform services such as Watson AI and Cloud Integration. It is also applied across much of IBM’s SaaS offerings, including security application MaaS360, business process modelling application Blueworks Live, and performance management offering Planning Analytics.
This initiative has helped Customer Success Managers (CSMs) and their teams become more strategic and efficient by delivering predictive alerts directly into their preferred Customer Relationship Management tools. It enables them to target, prioritize, and nurture high-churn risk clients as well as up-sell clients who are likely to expand in their usage.
CHI Predictions drove a 5% improvement in preventing customer usage decline across IBM’s targeted XaaS portfolio and now predicts whether a customer was likely to expand, maintain or decline usage with greater than 80% accuracy.
Read More About IBM’s Innovation to Fuel Cross-Team Productivity.
Winning a STAR Award shows a company’s exceptional dedication to being the best in the technology and services industry. Check out all of this year’s winners and finalists in each category.
Post Date: September 9, 2020
A free forum to navigate business challenges with your peers
Laura Fay is the vice president and managing director of offers research and advisory for TSIA. She also serves as TSIA’s vice president of XaaS product management research. Laura is a technology industry veteran with over 30 years' experience driving business growth in the enterprise technology industry via leadership roles in product management, general management, product development, and customer success.
The Technology & Services Industry Association (TSIA) is dedicated to helping technology and services organizations large and small grow and advance in the technology industry. Find out how you can achieve success, too. Call us at (858) 674-5491 or we can call you.