In various industries like Aerospace, Maritime, Railroad, Medical Equipment, and Construction Equipment, the maintenance of high-value assets is crucial for their long-term functionality. These assets typically have a lifespan ranging from 10 to 25 years, with their longevity heavily reliant on proper and timely maintenance. While manufacturers primarily concentrate on new sales and employ Customer Relationship Management (CRM) platforms to monitor sales activities, there is a noticeable gap in the tracking of maintenance and aftermarket services. Presently, many companies resort to spreadsheet tools such as Excel for monitoring these activities, lacking intelligent systems to oversee service contracts and ensure timely renewals. This oversight results in substantial business losses, often in the tens of millions of dollars annually.
Enter KaringPoint – CBC’s innovative introduction of Customer Service Management (CSM) in the enterprise application domain. KaringPoint specifically targets maintenance service operations, encompassing lead generation, configuration, pricing, quoting, negotiation, and comprehensive contract management. With its advanced technical capabilities and vast experience in service offerings, KaringPoint aims to revolutionize the monitoring and management of aftermarket deals, empowering businesses to make informed decisions and maximize their asset longevity.
Following diagram depicts the overall functional areas of KaringPoint CSM.
KaringPoint is a SaaS based cloud platform for addressing aftermarket client service management space, starting from generating leads from client’s ERP / CRM systems, qualifying the leads though an AI engine, generating suitable quotes through a due diligence process based on client’s past records of maintenance of its assets and ensuring suitable margins, generating actionable contracts with workflow for negotiation and signing off electronically. Subsequent to the contract, KaringPoint provides mechanisms to capture maintenance actions, recording of usage of assets and validating against the agreed SLAs. Various types of management information reports can be pulled out based on role of the users.
This is an enterprise class business application suite and is being developed through proper validation by industry veterans and subject matter experts.
Since this is a pioneering project in CSM space, we are setting up global teams and need staff in expertise in business analysis, software architecture, UI/UX specialists, senior developers and managers in different geographies. We look around for resources in local markets but when we do not get them, we need to go out to other geographies where such talents are available.
The platform is expected to provide several business benefits to companies in Aerospace, Maritime, OEM of Medical and Construction equipment, and other high value physical assets. Clients such as Boeing, Bombardier, Airbus will be to ensure that they are on top of upcoming, ongoing and expiring contracts, providing their customers a timely and accurate quotes and provide them with different MIS reports fully integrated with their ERP/CRM systems. At a conservative level, we estimate an increase in their aftermarket value by 10%, which will enhance their profitability multi fold.
