Hundreds of delegates from around the world gathered in person and online to attend Servitization Live 2021. Running from 4th to 6th October at Birmingham’s ICC, the event showcased the value of selling service-based outcomes to boost revenues, build resilience and help address some of society’s greatest challenges.
Servitization refers to companies expanding their capabilities through the delivery of service-based outcomes rather than being purely reliant on products. Hosted by Aston Business School’s Advanced Services Group, Servitization Live welcomed global business leaders to share best practice in service innovation. The event provided a platform for innovators to debate, showcase and celebrate the latest trends in servitization, giving delegates a flavour of the societal and economic impacts of advanced service provision.
The theme of this year’s event was Everything-as-a-Service, the idea that servitization offers businesses a unique opportunity to improve customer loyalty and exploit new revenue streams. As part of a packed programme, more than 20 speakers addressed delegates on how servitized business models can boost profits whilst addressing key societal challenges including climate change and an ageing population.
At the heart of the conference was an exhibition, presenting best-in-class servitization in action. The exhibition featured an array of businesses at the forefront of advanced services, showcasing the business models, digital technologies and innovations that are helping accelerate service transformation.
The first day of the event focused on Industry-as-a-Service as well as round up of servitization trends from across the globe. It explored how advanced service provision will lie at the heart of future business models to add value through long term outcomes rather than one-off transactions, with discussions around business customers as well as consumers increasingly expecting experience over the ownership of products.
First day highlights included insight from Goodyear on how the company has built competitiveness and resilience by providing commercial vehicle customers with a range of innovative services in addition to selling tyres. Professor David Romero, from Tecnológico de Monterrey, Mexico agreed, stating that advanced services are the new competitive advantage helping businesses to develop long-term relationships through recurring revenues, which offers stability as well as stabilising supply chains.
Day two addressed both healthy living and ageing, as well as food production as a service. Innovators explained how advanced services can drive efficiencies and improve service provision. Connected care business Dignio shared how its cloud-based platform is supporting patient-centric healthcare services, whilst manufacturing innovators gave presentations on how their innovations are helping build sustainable food systems.
The final day of the event was dedicated to celebrating SMEs that have transformed their business models through outcome-based services and made a significant contribution to the regional economy.
Category winners were:
- SME Servitization Award for Productivity: AE Aerospace
- SME Servitization Award for Growth in Services: Mechtech Automation Group
- SME Servitization Award for Digital: Solutions by Jigsaw
- SME Servitization Award for Resilience: LG Davis
- SME Servitization Award for Sustainability: Alphadrive Engineering Services
- SME Servitization Award for Internationalisation: Koolmill Systems
- Special Recognition Award: Paul Jackson, UV Light Technology
“Servitization Live has allowed us to shine a light on how UK businesses are transforming their offer through advanced services. During the three-day event keynote speakers, exhibitors and manufacturers have highlighted the potential for outcome-based business models to not only explore new revenue streams but also to provide solutions to some of our greatest challenges,” said Professor Tim Baines, executive director of The Advanced Services Group at Aston University.
The team at The Advanced Services Group provides education, training, research, and a global network of like-minded professionals around advanced services. It has worked with more than 400 businesses and Servitization Live has highlighted the transformative powers of service-driven solutions.
