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5 Steps to Successful Servitization

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Field Service

Servitization is one logical step in the transformative journey of how companies work with customers and generate revenue. In the not-too-distant past, a manufacturing company likely focused on the sale of its products -- say, an industrial-strength drill -- as a standalone offering. Service contracts represented a cost to the company. When products failed, it was considered too expensive for a product-focused company to service its own equipment.