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FARE INSIEME STARTUP - Ep. 11 - Servitly and the data that needs to be collected, processed and valued

«This is how the company flies high»



In the Como province, a startup decided to focus on the value of data, placing itself at the service of other companies to accompany them through their digitisation process. A focus on Servitly, a startup that has developed a software supporting the servitization process.  For FARE INSIEME STARTUP, Giampaolo Colletti interviewed Stefano Butti, founder of Servitly

FARE INSIEME STARTUP is the spin-off of the FARE INSIEME project dedicated to presenting some businesses that form part of the Primo Ventures portfolio, a company that manages funds specialising in the digital sector and new space economy. Confindustria Emilia has started up a partnership with Primo Ventures with the objective of providing its associates with new opportunities for growth thanks to the presentation of the most innovative start-ups on the market. Here are some of their stories.

by Giampaolo Colletti

There are encounters that leave their mark on the lives of people and companies. The meeting with Tim Baines, a British innovator and business consultant, left his mark on the story of this startup. “I met professor Tim Baines at an event, it was the first time I had heard the word servitization. It was 2016 and we had initiated the first phase of the startup, which focused on various IoT projects requested by machine manufacturers.  All projects had similar requirements and characteristics, so we had found a common need, but we had also understood that IoT could not be an actual need. That is why we introduced the servitization concept,” explains Stefano Butti, founder of this startup located in Lomazzo, Como, in the Como Next Technological Hub. The company boasts 13 employees and a €700,000 turnover that originates 60% from Italy and 40% from abroad, with a recurrent growth of 30% year upon year. The DNA is made up of two closely-related elements, i.e. software engineering and a passion for problems, which the team aims to solve as if on a mission to accompany companies on their servitization journey thanks to digital technology. “These two things have remained unchanged, and we adapted to the rest: to the various industries and their market phases with or without incentives, to the evolution of the digital maturity of companies, to change linked with technology and servitization trends,” stresses Butti.  

Company profile. Servitly boasts structured, efficient and scalable modules. Its core is data processing motors that constantly extract information. Conditions are assessed, based on which actions are to be taken and on which automations are suggested, meaning data is extracted and used as part of a connected service logic, i.e. servitization. “Current European statistics tell us that 80% of the data generated from connected products is not used. This does not surprise us, as we understand all the difficulties of processing and extracting value and of distributing to the device producer value chain. This a brand new field, where those who started off are inventing new software that didn’t use to exist. But it should not be like this. The software is all very similar, and needs considerable investments to be efficient. We made a configurable software that already features all those investments directly accessible,” says Butti. Servitly is currently used by over 40 producers of devices and machinery and manages over 20,000 connected products. It was very difficult for this company to steer a straight course in the beginning, but then it started achieving results. “There were various moments we are proud of, such as gaining the trust of some big clients, exceeding the first 10,000 connected products, or receiving an investment by Primo Digital.”  

The wow factor. When talking about technology, standing out is essential. The supply must be verticalized. “At Servitly, we have various software modules that focus on different uses. Each module addresses specific needs. One case is digital portal, a portal where clients can access product data and its remote control. Another case is connected maintenance, which makes maintenance operations simpler, quicker and more manageable thanks to information that can automatically deduce product data. Another is the monetization of digital services, connected maintenance contracts and spare parts. The latter is also known as machine customer.” In the meantime, servitization remains a slowly yet constantly growing trend. “Various macroeconomic trends - sustainability, generational turnover - show that we are increasingly headed towards an economy of use, result and servicing instead of possession of an asset. We will continue to invest in our software to anticipate the needs that will increasingly develop along this line.” Professionalism, perseverance and courage are the requirements needed to inhabit the future in the best possible manner.

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