Bosch Intelligent Solutions for Rentals (BISR) joined the platform in September 2019 by participating in the grow platform’s innovation program “Smart Urban Construction” in Asia and Europe.
With completion of the validation of the business model, the team was able to prove not only the corresponding potential but also the necessary maturity. As a result, the team, initially called Sen6Tech, was able to officially apply for incubation at grow platform. As part of the onboarding process, it was decided that the business model will operate under the Bosch brand and the respecive descriptive name Bosch Intelligent Solutions for Rentals.
The business innovation aimed to connect humans with machines and translate a vehicle’s raw data into meaningful insights while homogenizing fleets and automating time- and cost-sensitive processes.
The targeted business model
The disruptive innovation was that Bosch Intelligent Solutions for Rentals would be the analytics company providing cutting-edge digital technology to improve the business operations and performance of machine rental companies.
The Machine Intelligence Reporting & Analysis software solution translates a vehicle’s raw data into meaningful insights. With one universal solution, fleets are homogenized and time- and cost-sensitive processes are automated. This then compensates for the customer’s lack of in-house experts, makes maintenance easier to schedule and perform, optimizes asset operations while making them traceable, enables easier billing, and much more.
The BISR portfolio team pinpointed some of the most pressing problems that the machine rental market is facing in order to create a software solution that adresses all of them – while making it possible for rental managers to focus on their customers.
One of the main problems was that mobile machine rental company CEOs cannot plan repair activities and ensure availability. They also want to avoid on-site troubleshooting and its associated costs, and they are not getting valuable insights into data from their lifts.
The solution: A service driven by live data, including live monitoring of lift batteries, remote troubleshooting, and a planning tool for repair and maintenance activities. After months of hard work and dedication, they launched the first MVPs onto the market while collecting data to improve their algorithm planning for rollout of the first software solution in early 2022.
Their Machine Intelligence Reporting & Analysis solution translates a vehicle's raw data into meaningful insights – compensating for a lack of experts, making maintenance easier and p lannable, optimizing asset operations while making them traceable, enabling an easier billing process, and much more.
In summary, it automates time- and cost-sensitive processes, helping rental businesses to thrive. In a diversified rental market, their solution offers a crucial advantage: it is universally compatible, working with many different lift platform models and seamlessly adapting to any IT infrastructure.
Unfortunately, as with many promising business model concepts it seems like this one was a bit ahead of its time. Time was the crucial factor here, and it simply ran out. After an extended period of market analysis and many in-depth consultations, it was determined that this business model lacked market fit and therefore did not exhibit the appropriate long-term strategic targets. As part of the exit process, additional internal options were also investigated so that future development could be continued by other business units. Nevertheless, due to the lack of market fit, no new funding could be identified in this final step, causing the project to be closed.