Business Opportunity
A large tank manufacturing company wanted to create a monitoring system for their tanks before they were sold to customers.
Technical Challenge
They wanted to add tank level monitoring to their products during the manufacturing process so that it would already be included when the tank was sold. Their customers could currently only purchase third-party solutions after the tank sale, and they wanted to bring that recurring revenue in-house.
Solution
We developed a solution that allows the client to add a tank-level monitor to their existing products and sell that to their customers as part of an equipment and tank-level monitoring package. This allows their customers to have their solution ready to go upon tank delivery instead of adding it as an aftermarket product. Customers are able to see the levels of all of their tanks in real-time (regardless of the sensor manufacturer) in one application instead of monitoring them individually.
Impact
The company is now able to access a new recurring revenue stream using a subscription-based model for tank level monitoring included on their tanks. They’ve increased their recurring sales and customer relationships by having ongoing customer interaction instead of a “one and done” sale.