Why an E-Commerce Capability Is Critical to Your Aftermarket Growth Strategy

When planning a digital transformation for your business, the priority is frequently to increase employee productivity or reduce other operating costs. Unfortunately, focusing on internal processes often bypasses the most significant available cost impact — growing sales and profits. Unless you have already migrated into the world of Product as a Service (PaaS), Robot as a Service (RaaS), or Asset as a Service (AaaS), the easiest and least risky area to start your transformation is e-commerce. Why Start with E-Commerce? “We expect hardware to decrease from approximately 31% of the company’s profit today, on average, to 23% by the end of the decade,” predicts a recent Bain report. Today, in many industrial equipment companies, profit comes from services, and the most significant contributor is spare parts and consumables sales. That makes this area a target for growth.