Vixxo – Monetizing Data & Analytics
WEBINAR WITH WARREN WELLER,
VIXXO CHIEF SALES AND MARKETING OFFICER
This webinar was hosted by the Center for Services Leadership Community of Practice on Monetizing Data and Analytics.
About Vixxo: Vixxo is a leading technology-enabled asset management and business insight company providing integrated facility management solutions and services that unite asset and facility management. Through deep expertise across 100+ trades, time-tested processes, and a comprehensive technology platform, Vixxo delivers the complete asset management that allows clients to focus their energy instead on their customers.
About Warren Weller: Warren Weller is the Chief Sales and Marketing Officer at Vixxo, responsible for all aspects of sales, marketing and profitable revenue growth. Prior to joining Vixxo, Mr. Weller held various leadership positions at IBM, serving as the Vice President, Financial Services and also as Vice President, Mid-Market Services. During his 25+ year tenure, he drove operational excellence and innovation across the organization.
Vixxo Case Study
Over the years, Vixxo’s core business model has evolved from providing traditional facility management services, such as lighting, plumbing etc., to offering asset management and optimization services. Moving beyond improving efficiency of traditional assets (e.g. refrigerating, heating), Vixxo has built a highly successful business model around improving efficiency of revenue generating assets, e.g. coffee brewing machines at Starbucks or the baking ovens at supermarkets. The company’s services enable Vixxo’s clients to understand how these assets perform over time, and subsequently make better asset decisions from cost and investment perspectives.
Vixxo currently supports over a billion-dollar worth of spend across 65,000 assets in over 250,000 physical locations. Its primary client segment consists of businesses with widely-distributed retail-estate portfolio (supermarkets, restaurants, convenience stores etc.), where ensuring effective asset management across all locations is a major challenge. By leveraging its expansive supplier network of over 150,000 certified local suppliers, Vixxo is able to provide high quality, consistent services in a very cost-effective manner.
Vixxo’s value proposition to the customers is driven by the company’s 15-year experience in data collection and analytics. Over the years, the company has been able to collect clean and reliable data by leveraging emerging technologies such as mobile devices (tablets, smartphones), to integrate information from clients, suppliers and service centers. Vixxo applies its deep analytics and data mining capabilities to generate insights for clients to improve their CapEx management programs – understanding which assets to repair, replace, invest in etc. for greater customer experience, product reliability and profit maximization.
In the next phase of its evolution, Vixxo is working to monetize IoT and M2M capabilities, by placing sensors inside assets to get real time asset performance information. Sensors can detect and signal issues in assets, allowing Vixxo to dispatch technicians even while the asset is still operating. Vixxo is also focusing on developing the entire IoT eco-system. This includes collaborating with manufacturers to help build assets equipped with IoT capabilities, in exchange for data & insights on asset performance.
Vixxo’s revenue model is based on charging clients for various asset management services they use. The company takes a strong position to ensure clients are paying a fair and transparent price for received services, while the suppliers are guaranteed a prompt payment by Vixxo after each servicing call. Vixxo achieves this by automating its entire work-order management process through the “Continuously Analyzed Pricing System” (CAPS) application, where each supplier locks details of each service they provide to Vixxo’s client. CAPS contains pre-determined and agreed on rates for each element of the work order management process (such as for labor, duration, materials etc), guaranteeing that clients pay a fair market price and receive an itemized breakdown for delivered services. Moreover, Vixxo uses other features such as geo-fencing and supplier rating system to ensure that suppliers provide high quality and timely service. In return, suppliers receive fair and prompt payment for their services as well as training and development.
Backed by its extensive supplier network and over 15 years of data analytical capabilities, Vixxo is a clear leader in the asset management services industry. By implementing and harnessing the IoT and M2M capabilities, the company will be favorably positioned to take full advantage of analyzing granular, real-time data for deeper insights, and to help clients achieve higher profits & operational optimization.