Organizations today face increasing challenges due to complex workflow systems, asynchronous data, and disconnected workforces. On top of this, businesses are under pressure to increase revenue in their aftermarket, improve asset uptime and first-time fix rates, and meet customer experience goals.
To address these challenges, Service Life-Cycle Management (SLM) provides a comprehensive solution that covers the entire spectrum of service management needs. IFS, a recognized leader in the industry, has positioned itself at the forefront of SLM solutions by delivering all critical functions within a single, scalable platform.
IFS Receives Analyst Recognition for Service Life-Cycle Management
IFS has consistently been recognized as a leader in SLM by global analysts. Most recently, IFS has been positioned in the Leaders Category in the IDC MarketScape: Worldwide Service Life-Cycle Management Platforms 2023-2024 Vendor Assessment (doc #US49989623, October 2023), for the second year running.
IFS has been recognized by the IDC MarketScape for the breadth and depth of service capabilities that incorporate AI, machine learning, IoT, and AR as well as our industry expertise for complex service environments. IFS is also recommended for organizations looking for a wide breadth of capabilities across the service lifecycle to support highly complex industries and service models.
Download a complimentary excerpt of the vendor assessment here.
What is Service Life-Cycle Management?
IDC defines service life-cycle management in manufacturing as the process of providing services for a product or asset throughout its lifetime. The process includes customer support, service requests, service planning, service execution, field service, spare parts management, warranty management, and recalls. SLM is no longer a siloed process, and data from the aftermarket can be utilized by other enterprise applications to provide better insights to the enterprise and deliver value to customers throughout their journey with the service organization.
Why Invest in Service Life-Cycle Management?
Investing in SLM is not just about providing post-sales support; it’s about adopting a new approach where service becomes a driving force for value, revenue, and customer loyalty. Asset-centric manufacturers are facing mounting challenges, from complex workflows to disconnected workforces. They must also meet customer experience goals while finding revenue opportunities in the aftermarket.
Service Life-Cycle Management is the key to achieving true coordination and effective management of assets, people, and customers. By recognizing and acting on these factors, organizations position themselves for sustained growth and success in today’s competitive business landscape.
All Critical Functions in One Solution
IFS takes a holistic approach to SLM, unifying single-issue digital investments with strategic initiatives that enhance both the service experience and enterprise insights. With IFS, organizations gain a comprehensive view of the entire service life cycle through a scalable, single platform that caters to their business demands, revenue generation, and customer experience enhancement.
Our capabilities span multiple aspects of service management, including Field Service Work Order Management, Reverse Logistics and Repairs, intelligent back-office scheduling engines, and AI and Machine Learning for predictive maintenance, issue resolution, and service optimization. IFS’s offerings extend further to cover enterprise asset management, IT service management, and ERP solutions, making it a comprehensive choice for supporting even the most complex assets and use cases.
Outcomes of Investing in Service Life Cycle Management
Investing in IFS Service Management solutions promises a multitude of benefits and solutions that address the challenges of modern business. While the full list of benefits is extensive and tailored to your specific needs, here are some key outcomes you can expect:
- Improved customer experience
- Enhanced asset uptime and first-time fix rates
- Efficient management of assets, people, and customers
- Revenue growth opportunities in the aftermarket
- Streamlined, interconnected workflows
- Data-driven decision-making through predictive maintenance and analytics
- Consistent alignment with customer experience goals
In a world where service is a critical driver of success and value, IFS stands as the comprehensive solution for Service Life-Cycle Management.
SOURCE : Lewis, J. (2023b, November 28). Why Service Life-Cycle Management is vital for Asset-Centric Services. IFS Blog. https://blog.ifs.com/2023/11/why-service-life-cycle-management-is-vital-for-asset-centric-services/
