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AFTERMIND FUELS “AFTER-SALE” ECONOMY WITH NEW BUSINESS SOFTWARE:Software Company Maximizes After-sale Profit Margins

By Anonymous

January 21, 2002 - Aftermind, Inc., the after-sale software company, today unveiled a strategy to maximize the after-sale profit margin for product manufacturers. At the core of Aftermind’s strategy is a new suite of modular business applications that integrate and automate after-sale activities into streamlined, enterprise processes. Aftermind today introduced its initial offerings focused on support contract and installed base management. (Editor’s note: See January 21, 2002 press release “Aftermind Ships Support Contract and Installed Base Management Software Applications”)

Aftermind is the first software provider to optimize the effectiveness of the complete after-sale value chain, which consists of all service and support activities that take place after a product has been sold, delivered and installed. The company provides business management software that allows manufacturers to increase after-sale revenues and simultaneously reduce costs by improving information capture, up-sell/cross-sell of products and services, and channel management. Aftermind’s target markets include manufacturers of networking and industrial equipment, test and measurement devices, IT products, and consumer appliances and electronics. The new Silicon Valley company is backed by major venture capital firms and recently closed its Series B equity financing.

“After-sale service and support constitute a multi-billion dollar market, with a great upside for companies that optimize their service business, increase repurchase rates and add-on sales, and reduce support costs,” said Rohan Mahadevan, CEO and co-founder of Aftermind. “Our approach streamlines the after-sale process from start to finish, and offers manufacturers a true competitive advantage that addresses both their revenue and cost management goals.”

The After-Sale Challenge
Driven by the unrelenting pressure of product commoditization and competitive pricing, manufacturers face a loss in revenue. At the same time, they are experiencing an increase in after-sale support costs due to today’s fragmented and inefficient handling of basic after-sale activities – product registration, sales and management of associated service contracts, parts and accessories, and entitlement. This situation is worsened by the fact that few managers have an accurate accounting of the after-sale costs associated with each product they sell because they’re forced to rely on legacy systems with manual activities, islands of information, and inter-departmental dependencies.

“Effectively managing and optimizing after-sale service processes and activities is critical for discrete product manufacturers seeking to reduce costs, increase service revenues, and improve customer relationships,” stated Steve Bonadio, senior program director for Application Delivery Strategies at META Group, Inc. “Manufacturers must begin embracing best practices for service management and implement flexible, process-centric applications to support their after-sale service strategies.”

The Aftermind Approach
The Aftermind product-centric approach provides a 360-degree view of products by aggregating product data from internal company databases; existing enterprise resource planning (ERP), supply chain management (SCM), and customer relationship management (CRM) systems; as well as third-party applications and content providers.

Aftermind applies software automation in a way that does not require manufacturers to re-engineer their business operations and naturally fits in today’s enterprise.
Aftermind’s patent-pending combination of software technology and after-sale business logic is embedded in an extensible rules engine that is built with industry-leading infrastructure components. Information is seamlessly shared via the Web between the various internal and external stakeholders, and used by Aftermind’s software applications to automatically track installed products, manage support contracts, and sell services, parts and accessories. The manufacturer’s channel partners are also afforded reliable, secured access to relevant product and service information.

Companies can deploy Aftermind software in four to six weeks and can realize a return on their investment in as early as six months. Primary users include managers of customer service and support, sales and marketing, as well as third party service partners and distribution channels. Aftermind’s offerings are especially suited for manufacturers of mission critical products or products with complex service requirements that need to monitor the effectiveness and profitability of their services business.

About Aftermind
Aftermind develops and markets business software applications that maximize after-sale profit margins by transforming after-sale activities into a highly automated, streamlined enterprise process. Companies can realize higher service margins and increase product and services sales, while also enhancing customer satisfaction and future product development. Aftermind’s web-based product suite and scalable technology architecture are structured for rapid deployment within a company’s existing enterprise infrastructure. Offerings include pre-configured applications for support contract and installed base management. Headquartered in Fremont, Calif., Aftermind is privately held and funded by leading venture capital firms including H&Q Asia Pacific, Sumitomo Corporation and Allegro Capital. For further information, visit www.aftermind.com.
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Aftermind is a trademark of Aftermind, Inc. All other trademarks are properties of their respective holders.

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