Manufacturing is in the midst of a revolutionary shift: from products to services.
Industry leaders like Caterpillar and Siemens are leading the charge with connected machines and subscription-based solutions. But other companies are in the early stages, still figuring out how to monetize new services.
Key to successful monetization is a whole new set of business metrics. While backward-looking, conventional GAAP metrics — like cost of goods sold and gross profit — still serve a purpose, companies making the shift to subscription models must track new forward-looking business metrics.
Download this free ebook to find out the 5 new IoT success metrics that drive exponential growth and better understand the revenue impact of business transformation.