Since launching the Waylay Digital Twin app on Salesforce AppExchange back in the beginning of 2021, we've received tremendous customer interest. We have since spent hundreds of hours in conversations and working sessions with our customers, Salesforce solution engineers and our system integrators.
We have used this feedback and our experience to produce an extensive business case that goes in-depth into the economics of the Waylay Digital Twin app, presenting the value drivers and financial gains of deploying our solution.
Waylay Digital Twin is an ISV application that unlocks IoT data for better operational use in the Salesforce ecosystem. It empowers asset managers, call center agents, remote operations teams and field service technicians with critical insights into connected assets' status, performance and health.
If your organisation is missing the link between your deployed serviced assets and your internal and external business users, then Waylay Digital Twin is the answer. It has no match on the market today and delivers better, faster and more profitable results than building your own field service app and/or customer facing portals. Our recently published paper goes into the facts and figures to back-up our claim.
Who is a typical Waylay Digital Twin application customer?
To make our case, we'll be looking at a mid-sized discrete manufacturer, a customer profile that is a composite of multiple real Waylay customers and representative for many of our customer engagements.
A substantial part of our customer's business is driven from incremental services business, beyond the initial product sales. It also has a substantial support organisation, that is structured as follows:
- 20 call center agents
- 10 second and third line support agents
- 15 dispatchers
- 300 field service techs
The customer has 50,000 assets that are serviced. We assume that in year 1, 20% of these assets are connected, 40% in year 2 and 60% as of year 3. Hence the benefits of Waylay Digital Twin will only gradually accrue to the customer, a realistic scenario as customers rarely have a 100% base of connected assets from day one.
How data-driven remote service led to USD 5m in cost savings with Waylay Digital Twin
The business case is built on quantified benefits in terms of savings in call center operations and field service.
Call center savings are achieved through call deflection via self-service and predictive maintenance. In addition, empowering support personnel with additional telemetry data and diagnostics tools expedites problem resolution and improves the first call resolution rate. Cumulative 3-year savings amounted to 198,740 EUR
Field service savings are realized by reducing the number of field service visits for both planned and unplanned maintenance visits via remote problem resolution and condition- and predictive maintenance. In addition, in case a field service visit is still required, upfront remote problem analysis leads to faster problem resolution and an increased first-time fix rate. Cumulative 3-year savings amounted to 4,524,649 EUR.
So the cumulative 3-year savings for helpdesk and field service are 4,723,389 EUR.
Compounded revenue opportunities with Waylay Digital Twin in discrete manufacturing
Using Waylay Digital Twin brings along several additional benefits that were not explicitly quantified as part of the business case.
- A reduction in unplanned downtime brings substantial savings and productivity gains.
- Continuous monitoring enables better SLA compliance for discrete manufacturers and avoids costs associated with SLA non-compliance, either direct or indirect, such as churn.
- Additional areas of cost savings include a reduction in IT development costs and a reduction of costs of spare parts inventory.
- Revenue opportunities enabled by Waylay Digital Twin include: better upsell of spare parts and consumables, a more differentiated SLA offering, the servitization of the product offering and a reduced churn thanks to an increased customer satisfaction.
Although harder to qualify, each of the benefits exists in its own right and can have a meaningful contribution to the overall return of an investment in Waylay Digital Twin.
The cost model considers Waylay Digital Twin licensing costs, internal and external implementation costs, training costs, and ongoing application administration. The cumulative costs over a 3-year period equaled 521,284 EUR. The business case led to an NPV of 4,202,106 EUR over a 3-year period with an ROI of 806 %.
The business case as presented in this white paper is intended for informational purposes only. It provides a reference framework for evaluating the potential financial impact of deploying Waylay Digital Twin.
For a customized assessment of your company, please contact Waylay.