Syncron Announces Major Enhancements to the Syncron Service Cloud

STOCKHOLM, Sept. 9, 2020 /PRNewswire/ -- Syncron today announced significant enhancements to the Syncron Service Cloud including Syncron Inventory 20.1 and Price 20.2, the company's newest releases. These solutions help Original Equipment Manufacturers (OEMs) improve financial performance and liquidity, minimize service parts supply chain disruption and retain existing customers.

According to a recent study by Deloitte, the operating margin of aftersales businesses is 2.5 times that of new equipment sales. Recent declines in orders for new equipment have driven manufacturers to their aftersales service businesses for relief and opportunities to optimize the performance of this consistently profitable business.

"With sharp declines in demand for new products, OEMs and their suppliers have been hit hard by COVID-19," said Henrik Lenerius, Chief Product Officer, Syncron. "To help protect profits and drive additional revenue, OEMs are doubling down on their aftersales businesses. The Syncron Service Cloud delivers the enhanced capabilities they need to optimize the performance of their aftersales businesses and will help them find additional revenue and profit opportunities, which is of strategic importance during this challenging time."

New capabilities announced in the latest Syncron Service Cloud release include:

    --  Connected Inventory: Incorporating IoT data from connected products in
        Syncron Inventory(TM) enables the solution to leverage the understanding
        of where, how and which products are being used in the field to predict
        future consumption of parts, components and consumables. For the first
        time, OEMs can move from reactive to proactive parts forecasting and
        replenishment planning. This results in improved parts availability, and
        consequently, increased parts sales and better customer experiences.
    --  Planned Event Management (PEM): Consumption of service parts can, at a
        high level, be split into two categories: Unpredictable demand from
        product or part failures, and predictable demand from planned
        maintenance or repair events. PEM combines the planning for these two
        distinct demand streams. It ensures OEMs that the first line of support,
        like the field technician or dealership, can secure the availability of
        the required parts for an event without having to keep unnecessary
        safety stock. At the same time, it provides upstream locations with an
        early and more accurate demand signal. The result is smoother and more
        predictable planning, and ultimately less product downtime at a lower
        total cost to the entire parts network.
    --  Simulation Center: When considering changes to complex global parts
        supply networks, it is traditionally challenging to predict the
        financial and logistical impacts before taking the final decisions. The
        Simulation Center provides OEMs with unprecedented and invaluable
        decision support. OEMs can now take the proposed changes, "travel back
        in time" and re-run history to see what the outcomes would have been
        based on the real historical data. You can run several different
        scenarios and compare the outcomes before approving and putting changes
        into production.
    --  Syncron Insights: With the risk of volatile demand in current markets,
        having flexible and dynamic visibility into parts pricing has become
        increasingly important. Syncron Insights is a powerful new Business
        Intelligence solution fully integrated with Syncron Price. The reporting
        illuminates key hidden pricing data points on interactive customizable
        dashboards allowing customers to better manage key pricing activities,
        including price harmonization, customer pricing, segmentation, price
        revision simulation, root cause analysis and overall profitability. This
        will enable pricing teams to quickly react to the changing market and
        make proactive simulations and analysis.

"During recessionary periods in which manufacturers experience significant decline in demand for new products -- and thus an aging installed base -- aftersales service operations become strategically important to serve customers and to drive the economic recovery of OEMs," said Gene Metheny, Managing Director, Carlisle & Co. "As experts in the aftersales service industry ourselves, we feel that Syncron's latest releases focus on giving OEMs the insights, simulation and planning capabilities to better understand, predict and optimize their aftersales service operations. There is no doubt that OEMs who maximize their aftersales service performance in the short-term will emerge from the recession sooner, stronger and more resilient."

For more information on Syncron Service Cloud enhancements please visit Syncron.com.

About Syncron

Syncron empowers the world's leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry-leading investments in research and development, to providing the fastest time-to-value, Syncron's award-winning, cloud-based service parts inventory, price and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.

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