Business Services Industry
Research Report by Top Service Associations Reveals Urgent Need for Increased Investment in Services Research and Innovation
Business Wire, June 16, 2009
Declining Economic Outlook Demands a Breakthrough in Service Business Models
SAN DIEGO -- Results from an industry survey focusing on services research and innovation, sponsored jointly by AFSMI, SSPA, TPSA, and the Service Research & Innovation Institute (SRII), demonstrate that a clear “services innovation imperative” is being confronted tepidly and tentatively, if at all, by most technology companies. The groundbreaking results of the survey are revealed in a just-released report titled The Services Innovation Gap: How Many Technology Companies Are Failing to Respond to Fundamental Challenges to Their Business Model.
Technology companies are under enormous pressure to improve the performance of their service businesses. And this pressure could well increase over time. As technology firms become more services-centric, they will be less able to meet overall company and shareholder expectations without making serious, systematic investments in services research innovation. However, the results of this study suggest that many technology companies are failing to invest in the types of services research and development initiatives that will likely help them respond to the shifting ground and dynamic conditions facing them.
“This is a watershed moment for technology services, with the current pressures on the economy and the ensuing financial models,” stated J.B. Wood, CEO of AFSMI, SSPA, and TPSA—the three leading associations of the services and support industry. “We’ve ridden the current technology service business model as far as it can go. It is time for technology companies to dramatically step up their investment in services innovation, but few companies are. Those who do will find returns on R&D dollars that can be faster and often greater than traditional spends on software or hardware development.”
This important report outlines the basic nature of this issue and provides specific implications and recommendations for technology services providers. The good news is that because the services research innovation bar has been set so low, technology companies can likely make a big difference in service excellence with only relatively modest investments in services research and innovation. More information on this key industry report can be found at www.afsmi.com, www.thesspa.com, and www.tpsaonline.com.
About AFSMI, SSPA, and TPSA
www.technologyservicesworld.com/association_info.php
About the Service Research & Innovation Institute (SRII)
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