Syncron solutions improve inventory management, parts pricing and distribution efficiency; overcome supply chain issues; and help customers optimize their operations and drive long-term growth.
Frost & Sullivan assessed the aftermarket service lifecycle management application industry and, based on its research, recognized Syncron with the 2022 North American Enabling Technology Leadership award. The company offers a fully connected suite of software-as-a-service (SaaS) solutions to help clients optimize pricing, customer service and profitability. Syncron focuses on aftermarket services for multiple manufacturing industries, with specific strength in automotive, agriculture, construction and mining and industrial equipment.
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Syncron offers three solutions supported on the Syncron Connected Service Experience (CSX) platform:
- Service Fulfillment (warranty and field service)
- Service Go-to-Market (contract price and price)
- Service Supply Chain (inventory and retail inventory)
According to Wallace Lau, industry principal at Frost & Sullivan, “The Syncron Price solution provides customers with an average profit increase of 5.2% across multiple manufacturing industries, with auto parts distributors being the highest. It also enables customers to achieve visibility across all their part categories and collect real-time customer feedback to meet the changing market dynamics and customer base proactively.”
The Syncron Service Supply Chain inventory solution calculates various part demand probabilities to help customers reduce freight and aftermarket supply chain costs by up to 40%. The solution creates value through organizational transparency and accuracy at each supply chain level, highlighted in two customer success stories from NFI Parts and PACCAR. NFI Parts enables on-demand delivery to reduce downtime effectively for clients, while PACCAR provides transparency on returns and reduces overall costs. “At Syncron, we focus on creating connected solutions that enable our customers to deliver a superior customer experience,” said Dr. Friedrich Neumeyer, CEO, Syncron. “OEMs and their distribution networks that promote brand loyalty first will inevitably see increased revenue and profitability for every service interaction.”
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“Syncron enables customers to optimize their parts inventory, delivery time, and service quality to meet the challenging demands of service-driven business models,” added Lau. Each year, Frost & Sullivan presents this award to a company that has developed pioneering technology that enhances current products and enables the development of new products and applications. The 2022 North American Frost & Sullivan Enabling Technology Leadership award in the aftermarket service lifecycle management application industry recognizes the high market acceptance potential of the recipient’s technology.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service and strategic product development.