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December 4, 2017
To the general consumer, Caterpillar is known as the company who makes world-class yellow iron they see on work sites around the world. But it is our customers who are finding success from our approach to the Industrial Internet of Things (IoT) resulting in non-traditional technologies and services. The growth of services is a core focus area of the new strategy and speaks to the support we can provide to customers associated with our products – from aftermarket parts to analytics to machine rentals and beyond. Through a more integrated services philosophy, we can provide a more holistic customer experience and drive customer loyalty in this age of digital.
These were some of Tom Bucklar's key messages speaking at Web Summit held in early November in Portugal. Bucklar, the director of IoT & Channel Solutions – part of Caterpillar’s Digital Enabled Solutions Division – talked about the tremendous opportunity to leverage digital technologies to transform the physical world (e.g., mining, construction, energy and transportation).
“Caterpillar does this by merging its expertise in iron with new and evolving digital capabilities, and capturing, tracking and analyzing the data from our machines real time,” said Bucklar during a Web Summit panel discussion. “We are ultimately creating digital services and solutions to help customers be safer and more productive, emphasizing connectivity and solution creation through data analytics.”
“With over a half million assets connected today, Caterpillar will continue to connect our assets in a prioritized way, supporting the highest impact growth opportunities,” Bucklar commented. “We are aligning our metrics to the achievement of our customers’ success and our profitability.”
Billed as the largest tech show on earth, Web Summit brings together Fortune 500 companies, groundbreaking startups and world-class speakers from over 160 countries. It’s one of the biggest stages to be on in the technology world, and we were the only industrial manufacturing company to speak at the annual event.
Our message was how our customers are finding success from the company’s approach to the Industrial Internet of Things (IIoT) resulting in non-traditional technologies and services.
Joining Bucklar on stage was our customer Yvonne Wassenaar, CEO of Airware. The company provides unmanned aerial vehicles for commercial use. We’re partnering with Airware to provide drone services to Cat customers.
The overall and long-term value of digital will be in helping customers lower overall owning and operation costs, increase productivity and profitability, as well as improve equipment management, jobsite safety and sustainability. Bucklar explained that Caterpillar provides this today through Cat® Connect, our suite of technologies and services helping customers monitor, manage and enhance their businesses.
Prior to Web Summit, it is a safe bet that most of the attendees recognized Caterpillar as the company who makes world-class yellow iron they see on worksites. Before it was over, people at the event also gained valuable insight into the company’s overall efforts to continue to our industry leadership by being the disruptor – not the disrupted – in the IoT space.