Syncron and Mize, Inc. today announced that Mize, Inc., a leader and innovator of Field Service Management (FSM) and Warranty Management (WCM) solutions, has merged with Syncron, a leader in Service Parts and Contracts Management including Inventory, Pricing, and IoT-based preventive repair monitoring solutions.

Both Syncron and Mize are well-recognized leaders within their respective cloud solution markets. The combined company will use the Syncron brand and establish a fast-growing innovator with a customer base of more than 200 of the most known and respected brands in the automotive, construction & agriculture equipment, industrial engineering, high-tech, med-tech, and consumer durables industries. With more than 700 employees by the end of 2021, based in 12 office locations in eight countries worldwide, the company will continue to invest significantly in innovation and expansion of its global coverage.

The combined company will be the world's largest privately-owned global leader offering complete Service Lifecycle Management solutions for the manufacturers, distributors, and services ecosystem.

The Syncron Connected Service Experience (CSX) platform and Service Lifecycle Management (SLM) solutions enable the manufacturers to retain more customers, deliver services more cost-effectively, and generate higher-margin revenues from the install base.

"Product-related services have become the lifeline of manufacturers’ EBITDA and net margins. Protecting end customer brand experience is of pivotal relevance for every manufacturer. Together we can help create higher margin businesses, and recurring revenue from subscription and outcome-based business models," said Dr. Friedrich Neumeyer, CEO, Syncron.

As a part of this arrangement, Ashok Kartham, Founder and CEO of Mize, will join the Syncron executive management team as the company’s Chief Product Officer overseeing all product and development for Syncron.

"Manufacturers today use disparate systems to manage their service and parts business leading to silos of data, disconnected processes, and lower profitability. The combination of Syncron and Mize for the first time brings the leading service and parts management platforms together to maximize value to the customers,” said Kartham. “With a unique ability to have one common real-time view on service parts, field service workforce, service histories, parts data, and pricing, we can provide a new level of value creation for our customers unmatched in the industry."

The deal is significant in that Mize and Syncron together can develop and deliver the first comprehensive, single platform portfolio of SaaS solutions to market that specifically addresses the complexities and profound opportunities possible in the aftermarket and services business. Syncron's capabilities in AI and ML will play a pivotal role to connect IoT-based failure prediction even better with planned service events based on optimal part availability. Manufacturers looking to enhance this vital part of their business will be able to address service profitability, optimize working capital, and enable business growth while also best approaching and developing innovative services for the world's new service economy.

"We have recognized Mize* and Syncron** both as a leader in several areas," said Aly Pinder, Lead Analyst of IDC. "We expect both companies to be able to further strengthen a joint position by creating customer innovations around fully integrated service lifecycle management processes proving value beyond individual products which I have been emphasizing for years."

“Manufacturing is going through acceleration of digitization and business model disruption,” said Léo Apotheker, Chairman of the Board, Syncron. “Service experiences as a sustainable differentiator is at the top of every C-level agenda. Coupling the talent, expertise, and products of Syncron and Mize will empower the changes manufacturers need to compete effectively throughout this transition and best position themselves competitively.”

Please visit syncron.com to learn more on how you can transform your service business to enhance service experience and drive higher profitability in a connected world.

Further Reading:

• Read more about Parts, Pricing & Logistics @ www.fieldservicenews.com/parts-pricing-and-logistics
• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Learn more about Syncron + Mize @ info.m-ize.com/syncron-mize-introduction
• Find out more about Mize @ www.m-ize.com
• Learn more about Syncron @ www.syncron.com
• Read more about Mize on Field Service News @ www.fieldservicenews.com/blog/all-about-mize

The next decade will see manufacturers come under pressure to ensure their processes are significantly more sustainable. But what role can service play in this shift? Through technology and servitization, Mark Glover discovers a strong will in the sector to make a difference and to make it happen.

Innovate2019 was Syncron's first leadership summit pulling together academia, industry and analysts to guide OEMs through the inevitable servitization model that manufacturing will soon embrace. Field Service News' Deputy Editor Mark Glover spoke to two of the firm's key voices in that journey; Chief Marketing Officer Gary Brooks and Henrik Lenerius, Global Head of Products.

Enhancements to service parts inventory and price management solutions provide unmatched scalability and flexibility...

New, cloud-based solution leverages Machine Learning and Artificial Intelligence to predict failures and maximize product uptime, ultimately enabling servitization...

Former Dassault Systèmes and Siemens PLM senior executive charged with driving next stage of commercial growth for Syncron.

In November this year top-tier after-sales service solution provider Syncron will be hosting the inaugural edition of a new two day forum Innovate2019. Designed to be a first-of-its kind global leadership summit focused on facilitating conversations and providing insights for manufacturers exploring the inevitable shift to servitization: selling products-as-a-service.

To find out more Kris Oldland , Caught up with Syncron CMO Gary Brooks...

Experts from Accenture, Daimler Trucks North America, Spartan Motors, Carlisle & Company, Bocconi University and Syncron share strategies to succeed in the years ahead...

To help manufacturers navigate one of the most transformative times in history, Syncron^TM, a provider of cloud-based after-sales service solutions focused on empowering the world’s leading manufacturers to maximise product uptime and deliver exceptional customer experiences, today published “2019 After-sales Service Predictions: Powering the Journey to Servitization Through Maximized Product Uptime.” Service experts from Accenture, Daimler Trucks North America, Spartan Motors, Carlisle & Company, Bocconi University and Syncron shared insights on the time, resources and technology manufacturers will need to win in 2019 and beyond. 

Servitisation – where organisations transition from selling one-off products to selling the outcome or value those products deliver – is leading manufacturers to evolve their after-sales service operations from reactive, break-fix models focused on repair execution, to a new paradigm focused on dynamic repair prevention and maximising product uptime. In this new white paper, Syncron unveils how manufacturers can succeed in this shift to servitisation. 

“In this new era of servitisation, the responsibility for ensuring maximised product uptime is shifting from the end-user to the manufacturer,” said Gary Brooks, CMO at Syncron. “This new business model will require manufacturers to find ways to increase cost efficiencies throughout the entire value chain, ultimately driving them to completely transform business logic, company cultures and product development strategies. Today’s global manufacturers are at a pivotal point in their storied histories, and those that adapt to the changing climate will be the ones to come out on top.”

The key predictions included in the white paper include: 

1. The time for manufacturers to begin shifting to servitisation is now
2. Manufacturers must intelligently allocate the resources behind an evolving industry
3. Adopting the right technology is crucial to making servitisation a reality

In addition, the white paper includes a foreword by Syncron CEO, Anders Grudén, plus further details about the future of after-sales service and immediate next steps for manufacturers to take as they begin 2019.

“We interviewed multiple industry experts – the best-of-the-best around the globe, to compile this expert advice,” continued Brooks. “This white paper will serve as an ultimate guide for manufacturers to establish business plans for not only 2019, but also several years down the road.”

Key contributors to “2019 After-sales Service Predictions: Powering the Journey to Servitization Through Maximized Product Uptime” include: Kurt Ranka, Principle Director, Accenture; Carlo Alberto Carnevale Maffè, Professor of Strategy, Bocconi University; Nate Chenenko, Manager, Carlisle & Company; Jay Johnson, General Manager, Daimler Trucks North America; Jon Dickinson, Director of Aftermarket Sales, Spartan Motors; Anders Grudén, Chief Executive Officer, Syncron and Gary Brooks, Chief Marketing Officer, Syncron.

Click here to read “2019 After-sales Service Predictions: Powering the Journey to Servitization Through Maximized Product Uptime” in its entirety. To learn more about Syncron and its suite of after-sales service solutions, visit syncron.com.

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Syncron™, a provider of cloud-based after-sales service solutions focused on empowering the world’s leading manufacturers to maximise product uptime and deliver exceptional customer experiences, has recently announced a $67 million minority investment from global growth equity firm Summit Partners. The partnership with Summit Partners will support Syncron’s continued development of its category-leading enterprise SaaS solutions and further expansion of its global operations.

Servitisation – where organisations transition from selling one-off products to selling the output or value that products deliver – is leading manufacturers to evolve their after-sales service operations from reactive, break-fix models focused on repair execution, to a new paradigm focused on dynamic repair prevention and maximising product uptime.

Syncron offers a fully integrated SaaS platform to optimise the performance of the after-sales service supply chain and enable global manufacturers to evolve to subscription-based uptime service models, which is critical on the journey to servitisation. The Syncron Service Cloud applies machine learning to multi-echelon logistics and IoT data designed to deliver predictive insights and drive enhanced customer experiences, greater efficiency and brand loyalty.

[quote float="left"]Syncron powers the after-sales service organisations of many of the world’s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota[/quote] Headquartered in Stockholm, Sweden, Syncron powers the after-sales service organisations of many of the world’s leading manufacturers, including Electrolux, Hitachi, JCB, Mazda, Siemens and Toyota. Syncron has more than 330 employees across 10 global offices and is a recipient of the Great Place to Work^® award.

“We are delighted to partner with Summit Partners to support Syncron’s next chapter of expansion and our path to IPO readiness,” said Anders Grudén, CEO of Syncron. “Summit’s deep experience collaborating with high-growth, enterprise SaaS companies will add valuable support to our vision of leading the transition from reactive, break-fix after-sales service to intelligently maximising product uptime and customer loyalty.”

“We believe Syncron is uniquely positioned to support global OEMs on their journey towards servizisation,” said Antony Clavel, a Principal at Summit Partners who will join the Syncron Board of Directors. “Across automotive, industrial machinery, high-tech, aerospace and many other industries, sophisticated manufacturers are working with Syncron to drive after-sales service excellence.”

“Syncron is an impressive technology company serving some of the world’s most respected manufacturing brands,” added Han Sikkens, a Managing Director with Summit Partners who will also join the company’s Board of Directors. “The Syncron team has delivered strong, profitable growth on a global scale and we look forward to supporting the company’s continued market leadership.”

Summit Partners manages over $14 billion in capital and has invested over $2 billion in European-headquartered growth companies. Syncron represents Summit Partners’ first investment in Sweden.

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