Client: Global construction equipment manufacturer
Industry: Manufacturing / Auto
Products: Heavy construction equipment and vehicles
Areas of operations: Asia
Annual revenue: $ 4 Billion
With a rapidly growing heavy construction equipment business, the company looked to increase the value delivered to its customers and scale up the asset traceability and warranty management. To avoid a decline in end-customer satisfaction. the manufacturer wanted to build a platform that would enable real-time asset visibility to improve equipment utilization, gain insight on machine health and operating parameters, and maximize uptime. While promoting a positive customer experience, such a solution could also provide a competitive advantage and value differentiation in the market.
Wipro created a cloud-based IoT solution that enabled client machines to capture and communicate vital data pertaining to health, usage, performance, and security in the field. Sensors enabling geo- and time fencing allowed synchronization of equipment data and helped the company implement end-to-end service-level guarantees. In addition, the solution allowed the client to build models around areas such as preventive maintenance, wear and tear prediction, warranty fraud detection, dealer performance, and spare-part inventory management that helped anticipate those needs in advance and reduce downtime. The transformation helped the customer achieve optimal inventory storage and a consistent stream of revenue from the service and spare segment, leading to margin and revenue improvements.
The solution created asset visibility and streamlined management, significantly reducing downtime with increased machine activity. This led to a reduced service operations cost of 10% to 15% through precise data on asset condition and faults and increased end-owner retention and loyalty of 10% to 12%. In addition, service revenue increased by 15%, with a 5% margin of improvement spread across a period of 5 years.