Case Study: Learning From Software - Medical Technology Company Moving to As-a-Service Model
Industry: Medical device manufacturing
Annual revenues: $5–10 billion
Issue: The company was an established medical device manufacturer that understood software’s importance to the future of the industry. However, the fragmentation of technology left the company struggling to provide seamless packages of medical software and hardware. In a field where precision and ease-of-operation are mission critical, customers demanded flexibility in the way they consume medical solutions.
Solution: The manufacturer responded to customer concerns by investing in a software-based licensing capability in portable imaging devices to provide flexible packaging options. A purchaser would be able to unlock specific features based on the type of physician using the device and the type of scans or images that needed to be captured.
Impact: The investment had a strategic impact on the company, turning their hardware products into software-as-a-service (SaaS). Customers embraced the new flexibility provided in the way solutions were packaged, setting the company on a transformation path to a services-based model.