Machine-as-a-Service Readiness Checklist
The best OEMs with the deepest domain expertise in their industry are the best fit for Machine-as-a-Service.
It’s as simple as that.
But even the strongest OEMs have preconceived notions about potential barriers to starting a Machine-as-a-Service (MaaS) program. Here are a few of the common ones we hear:
“I’m not sure we have the right technology.”
“This looks like the direction the market is going, but we don’t have the balance sheet to do something like this yet.”
“This is awesome! But I’ll wait. It looks like Machine-as-a-Service is still a few years out.”
This might come as a surprise, but you probably have everything you need to bring your own Machine-as-a-Service program to life. Here are the essentials for getting a MaaS program up and running today:
1) Domain Expertise
Industry expertise is the #1 thing you need to make a Machine-as-a-Service program work. Period.
Best-in-class OEMs are the ones that support their customer throughout the entire lifecycle of their machine. One’s that view their job as not just delivering the machine, but helping their customers achieve the best production outcomes.
OEMs can do this when they understand their specialized markets - be it automotive, food & beverage, or packaging - and the costs to support their customers over time. Machine-as-a-Service simply becomes the mechanism to track the performance of these machines over their lifecycle and align more closely with your customer and their production outcomes.
2) Financial Requirements
If you’re feeling like the capital risk of having a fleet of machines sitting on your books is stopping you from implementing a Machine-as-a-Service program, we’ve got good news for you: That’s just one of many ways a MaaS program can operate.
Machine-as-a-Service is actually a collection of business models where payments are made over time based on performance.
For example, you could sell a machine in the more traditional sense, but bundle it with a performance-based, post-sales service contract to support the lifecycle cost of the machine.
Or maybe you want to use it as a form of feature management, where an end-user pays for the capabilities of the machines they’re using while making it easy to add new features as they roll out.
That’s just scratching the surface, but the point is, it doesn’t have to be all or nothing.
SteamChain provides the technology to enable automated, performance-based payments. It’s your decision as to which business model is right for you.
3) Connectivity & Technology
Although machine connectivity is preferred, it’s not a deal breaker.
There are a number of ways to do this, but we’d be remiss if we didn’t say that we’re huge advocates of machine connectivity. Machine-as-a-Service might just be the quickest way to put a monetary value on connectivity.
The list of connectivity options ranges from hardwired local internet to cellular to WiFi. These will all bring a Machine-as-a-Service program to life. There are even ways to do it without a network connection.
Beyond the connections, SteamChain’s reference architectures support all major brands of industrial automation. When extracting more value and more money out of your equipment is at stake, we’ve made sure technology won’t be the thing that stops you.
Best-in-class OEMs have been exceeding customer expectations for years. Isn’t it time you started getting paid on a consistent basis for it? Annuity payments are the new normal in software, infrastructure, and now, capital equipment.
If you’ve made it this far and you’re thinking a Machine-as-a-Service is right for you, guess what? You’re ready.