A new breed of services

Developing value-adding services

It has been said that the best way to predict the future is to invent it. Volvo Group has a long history of doing that and we will keep doing so. But in the future, a key success factor is the ability to combine technologies from many different sources in order to deliver value-adding services that are customised to individual needs.

The real changes in people' lives will come from the combination of technology and services. That is why Volvo Group is working to become an integrated partner with various service providers and to create new services as well.

The future looks bright
The new possibilities will allow delivery of highly customized, knowledge-based services that enable:

  • efficient and effective transport solutions
  • improved driving assistance
  • more comprehensive transport management
  • fuel-savings through monitoring
  • remote diagnostics of vehicles and equipment
  • fast and secure driver data download
  • predictive maintenance services, based on observed vehicle status rather than pre-defined plans
  • improved driver comfort

…and much, much more.

Closer to the customer
Developing this kind of services is quite different from developing engines and other hardware. First of all, it requires a deeper understanding of the customer's business and challenges. This is needed to identify areas where new services can deliver value and simplify customer operations

Teaming up with new partners
Another difference lies in the level of cooperation required among various service providers. Some future services will not be delivered by the Volvo Group alone but in collaboration with partners.

Let's take a security solution as an example. This could consist of sensors and systems that monitor any threats to the truck driver, trailer and goods and immobilize the vehicle and track stolen goods on one hand, and a security company contracted to respond to any alarms on the other. Regardless of the number of service providers involved, the service could be offered and owned by the Volvo Group.

A development framework in place
The Volvo Group has established a framework for developing services in a structured and efficient way. This includes a set of tools that basically play the same role for service developers as CAD does for product designers.

The new hard currency
We call these kinds of services soft products. In fact, we define any service or product, other than new vehicles, equipment or engines, which enhance a customer's perception and satisfaction as a soft product.

Since they satisfy our customers' needs for complete transport solutions and product-related demands such as increased uptime and a reduced total cost of ownership, soft products are destined to be the hard currency of tomorrow in our line of business.