Tyco’s IoT-enabled Service and Business Transformation

“What is the best service experience you’ve ever had?”

That’s how Anthony Moffa of Tyco—the fire protection and security company, not the toy manufacturer—began his presentation at LiveWorx 2015, early this month.

The very foundation of Tyco’s business is based on finding innovative ways to save lives, improve businesses, and protect people where they live and work. And it’s customer service where that innovation takes root, Moffa said.

Moffa, who is the senior manager of global services for Tyco’s fire protection business unit, helps ensure his company is using the latest technology—a chief reason he was on stage at the Internet of Things event.

“Business to consumer service experiences are changing business to business customer expectations,” Moffa said.

“Businesses need to consider what their customers are thinking: If I can get it at home, why not at work,” he said, referring to how more and more brands are becoming ingrained in our lives daily through the Internet.

Software, sensors, and connectivity are increasingly being embedded in products. Collecting and analyzing connected product data is enabling some of the best brands to offer services their customers before the customer even asks.

This change is creating a shift in how value is created not only for customers, but for companies alike. And on a broader scale, the change is creating a shift in the entire global economy as new and different business models emerge.

Moffa’s advice to the audience: No longer can companies just look at the cost of running a business, market factors, and competition, and attempt to balance these and other drivers. It’s a recipe for marginal growth at best, he said.

Today companies need to factor in technology enabled strategies for increased competitive advantage.

“If an auto maker can track a vehicle and figure out its service needs while it’s moving, why can’t [Tyco] do the same for something that is bolted to a wall?” he said.

Tyco uses the IoT to connect its fire alarm products. Embedded technology allows it to remotely monitor and collect product performance data and essentially change how they execute service. We could see a problem and be prepared to fix it before we got onsite, Moffa said.

Because of this, Tyco’s service is proactive and extremely effective, Moffa said.

“Before, customers experienced us coming to do something and we were asking them where the equipment was and what was wrong with it. With the new remote service approach, we can show up and say we’re here to fix a product because it has a problem, we have the part and we’re going to do it now.”

Tyco’s success using real-time connected product data for service has led it to adopt more IoT based initiatives in other business units across the company, Moffa said.

Tyco’s service transformation has led us to a complete business transformation, he concluded.

Photo courtesy of Tyco.

Filed under: Innovation, IoT Tagged: Internet of things, IoT, smart connected products