Increasing installed base knowledge with asset tracking

Asset Ownership Registration – 16 Benefits for Customers & End-Users

adminFab — Tue, 22 Apr 2025 16:21:49 +0000

Asset Ownership Registration: 16 Benefits for Customers & End-Users

Most industrial manufacturers don’t realize how much value is lost between shipment and commissioning.

Automated asset registration bridges that gap, creating new ways to support end users, deliver predictive maintenance, and unlock long-term ROI.

This guide breaks down 16 specific benefits that manufacturers and their customers gain from registering the ownership and location of every machine.

Improved Maintenance
Tailored Service Agreements
Predictive Analytics
Optimized parts supply
Sustainability & Circularity
Global Fleet Visibility
(...and 10 more powerful benefits inside)

Want the full PDF with all 16 benefits?

Enter your email, and we’ll send it straight to your inbox.

The post Asset Ownership Registration – 16 Benefits for Customers & End-Users appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Does it make economic sense to track Industrial Assets?

adminFab — Mon, 11 Nov 2024 09:11:00 +0000

What is the ROI of asset tracking for installed base visibility growth?

When your role is connected, directly or indirectly to the quality of IB Knowledge, it is naturally fair to wonder whether it makes economic sense for your business to deploy additional solutions in that area.

Here is what we’ve learned from the projects we’ve run with global leaders in industries as diverse as Robotics, Electrification, Industrial automation, and transport refrigeration.

The 1 to 1 ratio
The expected aftermarket revenue captured during its lifetime in service agreements, parts, and connected services is roughly equal to the asset price tag. But with better margins
Complex channels
Global markets and channel structures make it hard to systematically and reliably gather quality knowledge about a majority of ultimate owners' locations and name
Service revenue waterfall effect
Products are sold on the second-hand market after 6 to 8 years suddenly leaving manufacturers without aftermarket revenue for the product
Preserving Warranty
Real-time shipment monitoring and assigning transport issues responsibility would save thousands of dollars every year in quality claims
Trade Compliance
Finding out if an asset had been illegally shipped to embargoed or sanctioned countries, before it becomes a problem

Let's break it down into practical steps

let’s take a piece of industrial equipment worth $15,000. It could be an MV Drive, an industrial Robot, an AMR, a DGA, a Reefer, a large pump, an industrial compressor, a powerful GenSet, a UPS or a Switchgear.

For ease of calculation, we’ll assume a 1000 units production and a 90% automated registration thanks to asset tracking.

Step 1. Shipment

1000 units installed in bundles of 3 (that’s the average installation bundle size at the final location)

Step 2. Registration

1000 units x 90% visibility / 3 units = 300 new asset owners detected and registered

Step 3. Old IB discovery

90% of asset owners are repeat buyers who own 7 similar units, on average. That’s a legacy installed base of 2100 old units already in service for typically 8 years or more.

If 50% of the old units are not under service and maintenance contracts, that’s 1050 units for which a new contract can be offered.

Step 4. Opportunity generation

So we now have 900 service opportunities for the new products and 1050 service opportunities for the uncovered legacy assets.

Step 5. Closing

With a closing rate of 35%, the 900 + 1050 new service opportunities would bring 680 new service contracts.

Assuming the lifetime service value from this piece of equipment is roughly equal to its catalog price ($15,000) and the asset’s serviceable lifetime is 12 years (after a 3 year warranty period), each year should generate approximately $1,250 in service, parts and subscription revenue.

Step 6. Billing

During the first year, the legacy assets’ service contracts would generate an additional $450,000 in revenue.

After the warranty period, the new assets’ service contract would generate $390,000 on a yearly basis.

Considering renewal rates, one year of production of one product line could return over $4,000,000 in additional service revenue over its lifetime, of which $2,000,000 in immediately accessible revenue from the old, uncovered installed base.

In a nutshell

For most industrial equipment, the lifetime service value is (more or less) equal to the catalog price.

A simple tracking device placed on or in the equipment will usually open the door to 15 to 20 years of service revenue per asset.

The ROI for this device and the Wisechain solution moves between $10 to $25 additional revenue for every $1 invested in the solution.

And it’s very easy to implement and use.

A pretty good deal, all things considered!

Ready to monetize Installed Base knowledge & grow service revenue?

View on the AppExchange

Schedule a meeting with us

The post Does it make economic sense to track Industrial Assets? appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Grow Service revenue with Asset tracking in Salesforce

adminFab — Thu, 10 Oct 2024 10:56:39 +0000

Grow Service revenue with Asset tracking in Salesforce

In the Manufacturing industry, Installed Base knowledge is strategic to grow and maintain high-margin aftermarket revenue.

What would be the impact on your aftermarket business, if your company could systematically detect the location of its robots and identify their owners?

Using GPS trackers (or self-generated coordinates) WiseChain converts the location of industrial Assets, shipped from a factory to an unknown end-destination, often via system integrators, into highly qualified service opportunities and enables your teams to monitor their shipping conditions.

Aftermarket revenue Growth

Detect asset location

Identify final owners

Generate Opportunities

Customer service performance

Detect customer deliveries

Automatically assign assets to fleet owners

Monitor fleet turnaround

Market Intelligence

Monitor partners’ activity

Visualize end markets and trends

Refine downstream sectors appetite per product line

IoT Subscriptions

Engage & connect more System owners

Enrich users’ database

Grow IoT services revenue

Data is already available to detect and identify a majority of new fleet owners

In some specific cases, the equipment already generates is equipped with hardware that generates geolocation data.

This is the case for transport refrigeration units. Such built-in tracking technologies can be used in a new way to detect and identify potential new fleet owners.

When the fleets are renewed and units sold by their first owner on the second hand market, the service revenue per unit drops immediately. This is the waterfall effect. Since it is virtually impossible to know where the unit will be used next, service partners and manufacturers often lose a large part of the spare parts business and maintenance revenue for each unit.

Being in a position where it becomes possible to identify a majority of the next fleet owners for each unit ensures that manufactures and service partners will maintain their aftermarket revenue per unit and also make sure to keep units working at peak performance for a longer period of time.

In a nutshell

Deploying or using technologies to detect each asset’s location benefits their owners, their product will remain in the best condition for longer, the service partners and the manufacturers.

Hardware is therefore necessary to generate geolocation. It can be deployed ad-hoc or built-in and the type of hardware will be conditioned by three factors : available space, expected data supporting the business case and longevity.

The post Grow Service revenue with Asset tracking in Salesforce appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Unlock more service opportunities with automated asset registration

adminFab — Thu, 19 Sep 2024 10:06:27 +0000

Maximizing Service Sales: How automated Asset registration data in Salesforce unlocks more service opportunities

In the manufacturing industry, asset centricity is a crucial concept that focuses on managing and leveraging assets to drive operational efficiency and customer satisfaction. By integrating asset management directly into Salesforce, manufacturers can achieve asset centricity and enhance service sales accountability. At Wisechain, our Salesforce-based app ensures that installed base (IB) information is readily available within Salesforce, eliminating the need to fetch data from other systems and reducing the risk of overlooked opportunities.

It all starts with Asset Centricity in Salesforce

Asset centricity in Salesforce provides numerous benefits

Streamlined Asset Management

Centralizing asset information within Salesforce ensures that all relevant data is easily accessible, reducing the complexity of managing multiple systems.

Improved Data Visibility

Having asset data directly in Salesforce enhances visibility, enabling teams to make informed decisions and optimize resource allocation.

Enhanced Customer Support

With a clear view of the installed base, service teams can provide proactive and personalized support, enhancing customer satisfaction and loyalty.

The Role of Installed Base knowledge in Service Sales Accountability

Installed base (IB) knowledge is critical for service sales accountability. With direct access to IB information in Salesforce each service sales employee gets a real time and comprehensive view of the accessible installed base for each account

01.

Real-Time Access to Asset Data

With IB information available directly in Salesforce, service sales teams can access real-time asset data, ensuring they have the most up-to-date information at their fingertips.

02.

Reduced Risk of Overlooked Opportunities

By eliminating the need to fetch data from other systems, the risk of overlooking critical asset information is significantly reduced.

This ensures that service sales teams can capitalize on all available opportunities.

03.

Enhanced Accountability

Direct access to IB information in Salesforce enables service sales teams to be more accountable for their actions.

With all relevant data in one place, teams can be held responsible for leveraging asset information to drive sales and improve service performance.

Wisechain Enhances Asset Centricity in Salesforce

Wisechain’s Salesforce-based app is designed to track and monitor assets’ journey from factories to site of operation and register location and ownership details, automatically. By providing direct access to installed base information within Salesforce, the App enhances your asset centricity approach

Real-Time Asset registration

Wisechain enables real-time asset registration, directly in Salesforce, giving service sales teams instant access to a complete view of the installed base.

This allows them to activate service opportunities as soon as assets are commissioned and improve customer satisfaction

Seamless Integration with Salesforce

Our app integrates seamlessly with Salesforce, ensuring that all asset data is centralized and easily accessible.

This eliminates the need for multiple systems and reduces the complexity of asset management.

Real-Time Data Access

With Wisechain, service sales teams have real-time and complete access to asset data, ensuring they can make informed decisions and capitalize on opportunities as they arise.

Conclusion

Achieving real-time asset centricity in Salesforce is key to boosting service sales accountability and operational efficiency. With Wisechain’s Salesforce-based app, manufacturers can centralize asset data for improved visibility, giving service sales teams direct access to the installed base. Our seamless integration and intuitive interface make Wisechain the perfect solution for optimizing asset management and driving business success.”

Ready to leverage asset centricity in Salesforce and grow service sales?

View on the AppExchange

Schedule a meeting with us

The post Unlock more service opportunities with automated asset registration appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Expanding Field Service Impact: The Critical Role of Asset Location and Ownership Registration | Wisechain

adminFab — Wed, 18 Sep 2024 10:56:39 +0000

Enhancing Field Service Performance: The Critical Role of Asset Location and Ownership Registration

In the manufacturing industry, field service performance is a key indicator of operational efficiency and customer satisfaction. Ensuring that field service teams can quickly and effectively address customer needs is crucial for maintaining a competitive edge. At Wisechain, we understand that the foundation of exceptional field service performance lies in accurate asset location and ownership registration. Our Salesforce-based app is designed to streamline these processes, enabling manufacturers to achieve optimal field service outcomes.

The Importance of Field Service Performance

Field service performance directly impacts a manufacturer’s bottom line and customer loyalty. Efficient field service operations can lead to

Improved Customer Satisfaction:

Quick response times and effective problem resolution enhance customer satisfaction and build long-term relationships

Increased Operational Efficiency

Streamlined field service processes reduce downtime and optimize resource allocation, leading to cost savings and improved productivity

Enhanced Asset Utilization

Proper maintenance and timely service ensure that assets are utilized to their full potential, extending their lifespan and reducing replacement costs.

Linking Field Service Performance and Asset Location and Ownership Registration

Accurate asset location and ownership registration are essential prerequisites for achieving superior field service performance. Here’s why:

01.

Quick Asset Identification

Knowing the exact location and ownership of assets allows field service teams to quickly identify and address issues, reducing response times and minimizing downtime

02.

Proactive Maintenance

With accurate asset data, manufacturers can schedule proactive maintenance, preventing issues before they occur and ensuring optimal asset performance.

03.

Efficient Resource Allocation

Understanding the distribution and ownership of assets helps in optimizing the allocation of field service resources, ensuring that the right technicians are dispatched to the right locations

04.

Enhanced Customer Support:

Accurate asset information enables field service teams to provide personalized and proactive customer support, addressing specific needs and enhancing overall satisfaction.

How Wisechain boosts Field Service Performance

Wisechain’s Salesforce-based app is designed to simplify and optimize asset location and ownership registration, providing manufacturers with the information they need to boost field service performance.

Here’s how Wisechain can help:

01.

Geolocation-Powered Asset Tracking

Wisechain utilizes advanced geolocation technology to accurately track asset locations in real-time. This ensures that field service teams have up-to-date information, enabling quicker response times and more efficient service delivery.

02.

Seamless Integration with Salesforce

Our app integrates seamlessly with Salesforce, allowing manufacturers to leverage their existing CRM data for asset management. This ensures a unified and cohesive approach to asset location and ownership registration.

03.

Comprehensive Asset Management

Wisechain augments installed base knowledge, enabling manufacturers to leverage asset ownership, track maintenance schedules, and monitor asset performance.

04.

User-Friendly Interface

Our app features an intuitive and user-friendly interface, making it easy for field service teams to access and manage asset data. With minimal training, teams can quickly adopt Wisechain and start reaping the benefits.

Conclusion

Field service performance is a critical component of operational efficiency and customer satisfaction in the manufacturing industry. By leveraging Wisechain’s Salesforce-based app, manufacturers can streamline asset location and ownership registration, enhancing field service performance and achieving optimal outcomes. With our geolocation-powered asset tracking and comprehensive asset management capabilities, Wisechain is the ideal solution for improving field service operations and driving business success.

Ready to expand Field Service impact and customer satisfaction?

Schedule a meeting with us

View on the AppExchange

The post Expanding Field Service Impact: The Critical Role of Asset Location and Ownership Registration | Wisechain appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Enhancing Asset Location Registration with Geolocation in Salesforce

adminFab — Tue, 17 Sep 2024 16:25:17 +0000

Enhancing Asset Location Registration with AI and IoT

In the manufacturing industry, accurate and reliable asset location registration is a critical task that can significantly impact operational efficiency, customer satisfaction and profitability. With the advent of geolocation technology, asset location registration has become more precise and can become automated, enabling manufacturers to streamline their operations and enhance their service capabilities. At Wisechain, our Salesforce-based app leverages advanced geolocation features to provide high accuracy, reliable information, and, combined with AI, automated asset location registration, ensuring that manufacturers can effectively manage their assets.

The Importance of Asset Location Registration

Accurate asset location registration is essential for several reasons:

Efficient Asset Management:

Knowing the exact location of assets helps in optimizing resource allocation, reducing downtime, and enhancing overall asset utilization.

Improved Field Service Performance:

Precise asset location data enables field service teams to respond quickly to service requests, improving response times and customer satisfaction.

Enhanced Customer Support:

Accurate asset location information allows manufacturers to provide proactive and personalized customer support, addressing specific needs and enhancing overall satisfaction.

The Role of Geolocation in Asset Location Registration

Geolocation technology has revolutionized asset location registration by providing high accuracy and reliability. Here’s how geolocation enhances this critical task:

01.

High Accuracy

Geolocation-enabled asset tracking provides precise and real-time location data, ensuring that manufacturers have up-to-date information on their assets.

02.

Reliability of Information:

Geolocation technology offers reliable and consistent data, reducing the risk of errors and inaccuracies in asset location registration.

03.

Automation

Geolocation-enabled asset tracking automates the process of asset location registration, eliminating manual data entry and reducing the potential for human error.

How Wisechain Enhances Asset Location Registration

Wisechain’s Salesforce-based app is designed to leverage advanced geolocation features to provide high accuracy, reliable information, and automated asset location registration. Here’s how Wisechain can help

01.

Geolocation-Powered Asset Tracking

Wisechain utilizes advanced geolocation technology to accurately track asset locations in real-time. This ensures that manufacturers have precise and up-to-date information on their assets, enhancing operational efficiency.

02.

Seamless Integration with Salesforce

03.

AI powered registration

Wisechain automates the process of asset location registration, reducing the need for manual data entry and minimizing the risk of errors. AI greatly accelerates ownership identification and registration, thus opening the door to more business opportunities.

04.

User-Friendly Interface

Our app features an intuitive and user-friendly interface, making it easy for teams to access and manage asset location data. With minimal training, teams can quickly adopt Wisechain and start reaping the benefits.

Conclusion

Accurate and reliable asset location registration is a critical task for manufacturers. AI and geolocation technologies have transformed and simplified this process by providing high accuracy, reliability, and automation. By leveraging Wisechain’s Salesforce-based app, manufacturers can streamline asset location registration, enhance operational efficiency, and improve field service performance. With our advanced geolocation features and user-friendly interface, Wisechain is the ideal solution for managing asset location data effectively.

Ready to enhance your asset location registration process with AI and IoT?

Schedule a meeting with us

The post Enhancing Asset Location Registration with Geolocation in Salesforce appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Leveraging Installed Base Knowledge for Monetization and Aftermarket Revenue Performance

adminFab — Mon, 08 Jul 2024 13:36:17 +0000

Leveraging Installed Base Knowledge for Monetization and Aftermarket Revenue Performance

In the manufacturing industry, understanding your installed base is crucial for driving growth and maximizing revenue. Installed base knowledge refers to the comprehensive understanding of the assets your customers own, their locations, and their usage patterns. This knowledge is not only essential for optimizing service and support but also for unlocking significant monetization opportunities and enhancing aftermarket revenue performance. At Wisechain, our Salesforce-based app is designed to help manufacturers gain deep insights into their installed base, enabling them to capitalize on these opportunities effectively.

The Importance of Installed Base Knowledge

Installed base knowledge provides manufacturers with a competitive edge by offering insights into:

01.

Asset Utilization

Understanding how assets are being used helps in identifying opportunities for upgrades, maintenance, and additional services.

02.

Customer Needs

Detailed knowledge of the installed base allows manufacturers to tailor their offerings to meet specific customer needs, enhancing customer satisfaction and loyalty.

03.

Market Trends:

Analyzing installed base data can reveal market trends and preferences, informing strategic decisions and product development.

04.

Channel & Partners activity

Understanding how resellers handle the products and position them on the market helps grow service business and better relationships

The Link Between Installed Base Knowledge and Monetization

Installed base knowledge is a powerful tool for monetization and driving aftermarket revenue performance.

Cross-Selling and Up-Selling Opportunities:
Proactive Maintenance and Service Contracts:
Targeted Marketing Campaigns
Enhanced Customer Lifetime Value
Amet lorem felis - dolor nulla gravida et nulla gravida
+50% Dolor nulla gravida et nulla

The Importance of Installed Base Knowledge

Wisechain’s Salesforce-based app is designed to provide manufacturers with comprehensive installed base knowledge, enabling them to maximize monetization opportunities and enhance aftermarket revenue performance.

Here’s how Wisechain can help:

01.

Accurate Asset Tracking

Wisechain utilizes advanced geolocation technology to accurately track asset locations and ownership, providing a clear picture of the installed base.

02.

Seamless Integration with Salesforce:

Our app integrates seamlessly with Salesforce, allowing manufacturers to leverage their existing CRM data for installed base management. This ensures a unified and cohesive approach to asset tracking and customer support.

03.

Comprehensive Reporting and Analytics

Wisechain provides robust reporting and analytics capabilities, enabling manufacturers to gain insights into their installed base data. This helps in making data-driven decisions and optimizing monetization strategies.

04.

User-Friendly Interface

Our app features an intuitive and user-friendly interface, making it easy for teams to access and manage installed base data. With minimal training, teams can quickly adopt Wisechain and start reaping the benefits.

Conclusion

Installed base knowledge is a critical component of driving monetization and enhancing aftermarket revenue performance in the manufacturing industry. By leveraging Wisechain’s Salesforce-based app, manufacturers can gain deep insights into their installed base, identify opportunities for cross-selling and up-selling, and provide personalized support and services. With our comprehensive reporting and analytics capabilities, Wisechain is the ideal solution for maximizing monetization opportunities and driving business success.

Ready to unlock the full potential of your installed base knowledge?

Schedule a meeting with us

View on the AppExchange

The post Leveraging Installed Base Knowledge for Monetization and Aftermarket Revenue Performance appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

Uncovering old IB when tracking new Assets

adminFab — Thu, 25 Jan 2024 04:35:00 +0000

Uncovering old Installed Base when tracking new Assets

Manufacturing companies in sectors as varied as Robotics, Industrial Automation, flow control, electrification, or power generation, often struggle to build rich and relevant installed base data.

Often enough, IB knowledge can plateau in the region of 50% of new products sold and this knowledge is mostly influenced by how much revenue comes from direct projects.

Finding out what was sold in the past is their Holy Grail since this knowledge can yield immediate revenue from equipment that is no longer under warranty.

As one of our first users aptly put it when they started tracking MV Switchgear, “Track the new, find the old”. In their market, a buyer today was, in 95% of the cases, a buyer yesterday.

01.

New assets are mostly purchased by repeat customers

In the manufacturing industry, Pareto rules, once more. The top 4 or 5 customer profiles will represent 85% or more of any given business sales. For industrial equipment, it means the same customers by the same product. And repeat.

02.

Industrial companies tend to be loyal to their suppliers

When acquiring large industrial equipment and signing off on significant CapEx budget, buyers want to make sure their ROI is secured. They will find security in buying from proven suppliers, able to deliver high performance products and maintain them over time.

03.

Large portions of industrial equipment is not under service agreement

Manufacturers being specialists, they sometimes lack internal competence to maintain every type of asset and sometimes would just let machines fail and fix them rather than have them serviced periodically by a service provider

04.

Asset owners welcome equi

When contacted by the manufacturer itself or its certified service partners, asset owners and operators welcome that support and expertise.

Bridging the knowledge gap and maintaining assets at peak performance over time requires expertise that only manufacturers can bring.

Asset owners understand and welcome that.

In a nutshell...

Companies that start tracking new Assets today enjoy a highly and predictable likelihood to uncover older and unregistered Assets when engaging with newly identified customers.

Our experience is that in more than 80% of the cases, they would find legacy assets ready for upgrades, modernizations, and/or new service agreements.

The post Uncovering old IB when tracking new Assets appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.

What is Installed Base knowledge

adminFab — Tue, 03 Nov 2020 03:35:08 +0000

What is Installed Base knowledge

The Installed Base (or IB) corresponds to the number, location and years of service of products or systems that have been installed over the years at direct and indirect customers of a manufacturing company.

01.

Number of units

This the most basic measure of the installed base and is often used to assess a company’s market share and product penetration.

02.

Ownership registration

This information is crucial for planning service and support activities, and for identifying upselling and cross-selling opportunities.

It is also the most difficult to obtain on a large scale.

03.

Years of service

This information can be used to predict when products or systems will need to be replaced or upgraded, and to plan for future product development. the registration of an asset with a place and the identity of the owner The ability to reach out to product owners and users in order to sell related services, replacement products and maintenance plans

04.

Lifetime events and Condition

More and more, developing the ability to collect machine condition data is critical in better supporting the customers, ensuring optimal performance and, whenever possible, saving energy and minimizing operating costs

A cross industries challenge

Systematically detecting an asset’s final location and registering it to its ultimate owner or operator is a challenge shared by most industrial equipment manufacturers.

When assets are sold through numerous channels, on global markets, and to multiple segments, keeping track of the location and identity of each ultimate owner is a massive undertaking and companies dedicate substantial resources to building this knowledge.

Installed Base knowledge naturally benefits customers.

Owners of registered assets enjoy support from the most qualified service engineers and technicians and have access to dedicated services, original spare parts and modernization plans.

In a nutshell

Gathering Installed Base knowledge requires a consistent effort combining various approaches to data gathering.

Since there are only three ways to obtain IB knowledge, tracking, field capture and declaration it is beneficial for manufacturers to combine as many ways as possible and remove possible blind spots in their data gathering effort.

Ready to enhance Installed Base registration processes?

View on the AppExchange

Schedule a meeting with us

The post What is Installed Base knowledge appeared first on Grow installed base visibility in Salesforce - Wisechain asset tracking.