Globalization has transformed the way we buy and sell products. For industrial organizations, product sales are no longer the primary source of profit, which means product-oriented organizations are faced with more pressure than ever before to adapt their business structure to outcome-based models and accommodate more aftermarket services.

The shift to services did not happen overnight. An IDC survey from 2013 already indicated that capital equipment manufacturers were getting ready to move their profit centers away from the initial sale process, as little more than 10 percent of respondents expected a major increase in equipment sales revenue over the next three years. Soon enough, new product sales have started to involve service contracts, and by now, the aftermarket service space is a key area for companies wanting to identify new avenues for growth.