Servitization Live - Rob Russell Interview

Senseye attended Servitization Live, from the 4th-6th October 2021. Rob Russell, CTO at Senseye, gave a brief but insightful interview around Senseye's contribution to the idea of servitization, offering an outcome as a service rather than a one-off sale.

 

Rob Russell, CTO at Senseye:

Senseye delivers key business outcomes to the manufacturing sector, by the use of predictive maintenance technology. The offering we have at Senseye is highly suitable to manufacturers that are looking to servitize their business model. We can underpin the remote access to machines, the ability to manage very large fleets at scale, because you have to consider when you might move to servitization, the population of assets is much greater than you would normally have under normal business models.

In relation to servitization, the next focus for our business is developing stronger relationships with our existing customer base that are focused on servitizing the machines that they produce. It's much more focused on a B2B relationship where we're trying to understand and get closer to these machine builders that are providing or planning to write a servitization offer. That is providing us with the ability to understand their needs far better. And in turn, we develop that as new product requirements.

But more importantly, it allows us to understand how we have to adapt our business model to work within a servitization framework. The offering of advanced services for Senseye, it wasn't necessarily a light bulb moment. The background that we have as founders was in the defense and aerospace sector, where we'd already gone through a process of delivering servitization. As we've moved now into focus within Senseye in the manufacturing and the industrial sector, we are monitoring the move towards servitization. And it's a key metric that we're tracking to know when we should be pulling the leavers and evolving our business offering to be more attuned to servitization needs in the market.

I think there's no excuse for saying you don't have the time for innovating your business model. I think with the level of disruption that we see within the world with globalization and in various changes to business models, you have to innovate. If you don't embrace that innovation yourself, your competitors will, and you'll be left behind. One key aspect is being able to look at technologies such as predictive maintenance, new business models, such as servitization, which allows you to evolve your business into a model that's far more optimized and therefore will actually buy you a lot of the time that you need to think about other key aspects in your business.