Based on its recent analysis of the service partnership for compressors market, Frost & Sullivan recognizes Atlas Copco with the 2014 Europe Frost & Sullivan Company of the Year Award. Atlas Copco's sustained success is largely a result of its wide service portfolio, direct approach to the market, focus on ensuring significant reductions in the total life cycle costs, and establishment of long-term partnerships with customers.
The company's holistic service value proposition allows it to cater to the diverse requirements of customers across end-user industries. It has a separate service division, with more than 4,000 service technicians across more than 180 countries. This global presence assists Atlas Copco in fostering close relations with each customer, further enhancing its already solid brand value.
The strong customer relationships and an effective feedback mechanism alert Atlas Copco to the latest and most urgent customer requirements, such as the need for quick provisioning of spare parts and a first-time fix. In response to such information, the company has opened new distribution centres and altered its sales and service process to ensure that its customers have the best possible service experience.
"Atlas Copco has placed considerable emphasis on shortening the ‘time to competence' of a new service technician," said Frost & Sullivan Research Analyst Niranjan Paul. "Its service personnel are extremely knowledgeable and can conduct necessary maintenance and repair activities in a timely manner, which is a vital advantage in end-user industries"
Atlas Copco sets itself apart from the competition in the aftermarket segment by offering an unparalleled purchase experience. After a sale or installation, the company establishes a service agreement that helps forge long-term partnerships with the customer. The service agreement facilitates the continuous monitoring of the installed compressors, which offers the service team the data required to proactively perform the required maintenance activities. This also ensures that customers do not have to keep track of the installed compressors and can focus on their core business activities instead.
Atlas Copco also strives to enhance customer experience by diminishing the total cost of ownership of a compressor, rather than merely reducing the maintenance costs and purchase price. Its energy and air consultant engineers conduct energy audits to identify potential areas of energy savings. It then implements energy-saving solutions that minimise energy and operational costs, which translate to a reduction in the total life cycle costs.
"The company's energy recovery unit stokes greater efficiency of the compressed air system," observed Paul. "Additionally, the incorporation of advanced control systems enables the company to maximize energy savings at the customer's facilities."
Overall, Atlas Copco's belief that the aftermarket segment can serve as a key differentiator in Europe and boost company profitability is expected to drive its expansion efforts in the European compressor services market.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value as well as speed in response to market needs. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Atlas Copco
Atlas Copco (atlascopco.com) is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees.
Atlas Copco's Compressor Technique business area provides industrial compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems. The business area has a global service network and innovates for sustainable productivity in the manufacturing, oil and gas, and process industries. Principal product development and manufacturing units are located in Belgium, Germany, the United States, China and India.
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Contact: Peter Leemans - Atlas Copco
E: peter.leemans[.]be.atlascopco.comailto - P: +32(0)3 450 6123