If the topic of Machine-as-a-Service (MaaS) is new to you this conversation covers the model in detail. Michael Cromheecke is the CEO of Steamchain and he unpacks this exciting new approach to industry. Essentially it is a business model that uses the data from the machinery to establish a contractual relationship. In traditional business models OEM's build equipment to a designed set of standards and once the solution is running the manufacturer owns it from there. In the MaaS model end users are funding desirable outcomes of the asset.
OEM's benefit in this model also as they can establish recurring revenue streams tied directly to machine performance. Their partnerships strengthen with the businesses they support as they have monetary incentives to reach premium efficiency of a given asset throughout the life of the equipment. When improvements are found and implemented both the manufacturer and OEM will reap the rewards.
Mike is extremely passionate about this topic and feels it could be a new way for manufacturers and OEM's to grow in the future. This is an exciting idea and one that we hope will help business owners and leadership as they think about the future of capital assets and meeting market demands.
Guest: Michael Cromheecke - CEO & Co-Founder of Steamchain
Host: Chris Grainger
Executive Producer: Adam Sheets
Video Editing: Andi Thrower
Steamchain.io Website
