In November 2011, GE’s board decided to invest $1 billion in software development to re-energize the company’s $45 billion services business. Three years later, GE Software in San Ramon, California employs 1,000+ technologists focused on igniting the next industrial revolution through software.
In that timespan, GE Software has closed eight venture investments; established six strategic partnerships; acquired a software security firm; partnered with GE’s business units to develop and commercialize a portfolio of outcome-based software and service offerings, resulting in $1+ billion incremental revenue in 2014; built an Industrial IoT platform called Predix; and co-founded the Industrial Internet Consortium.
Like GE’s transition from break-fix to comprehensive service agreements in the late 90s, this transition to a software-enabled services business model has required focus, humility, an experimental mindset, and a high appetite for organizational disruption. This session will explore key decisions, metrics, and learnings along this journey.
Co-founder and CEO of Multitude. Former Head of Commercial Strategy and Developer Ecosystem for GE Digital.
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