Show me the MONEY!!!
Part of the Pure Water Series
By Del Satterthwaite
VP of Sales
Med Water Systems
Introduction
Show me the Money brings back great memories from an exceptional movie. I can still see Tom Cruise yelling “Show me the Money” in his office and all of his colleagues looking over their cubicle and up from their screen as he keeps yelling “Show me the Money”.
In reality, “Show me the Money” can be more than a little painful when you’re on the paying side of that transaction. It can be extremely painful when you have no idea of the magnitude of what you are being asked to pay. I’m speaking specifically about service for your water system and what is required to keep it running smoothly.
State of the Industry around services
Most water vendors sell you a water purification system with an annual service contract to ensure the system stays up and running. The service contract is used to address any issues with the equipment or any ongoing work that is needed. Most service contracts provide you with a service line that is available 24 hours a day where you can report an issue and schedule an appointment to have a service technician visit your facility. This is where “Show me the Money” kicks in. The cost of any repairs, labor, or parts falls on the customer. You as owner of the equipment are responsible to bear the financial burden of fixing the equipment.
In a straw poll conducted with customers that have switched to Med Water Systems, their previous service contracts had a yearly service cost, but they ended up spending an average of 50% more in emergency dispatches, parts, and labor rates. For example, if the service contract costs $6,000 per year, the lab ends up spending $9,000 due to these unforeseen costs. Emergencies caused by the water system going down and the lab not being able to process any samples can be very frustrating. A single emergency service visit and repair can cost as much as $15,000. In a lot of cases, the lab team has no idea how much is being spent because an open PO has been established and accounting pays it per the open or blanket PO.
Med Water Systems Solutions
At Med Water Systems we believe that Pure Water doesn’t need to be difficult, and neither does the service or billing. We address this issue in a unique way that no other vendor employs.
The differentiating factor: When we sell a service contract (1st years’ service is included in the purchase price) it covers a yearly preventative maintenance visit, a 24-hour service line, and onsite service when necessary. That sounds a lot like every other water system vendor, so why read on? As they say, the devil is in the details – or in this case, the value is in the details. What makes Med Water Systems unique?
- When you have a service contract with Med Water Systems, your system gets a renewed warranty each year. The renewed warranty transfers the financial burden of keeping the system up and running to Med Water systems. You don’t have to pay for parts, repairs, travel, or emergency visits. Those costs are all on Med Water Systems. We believe in the reliability of our systems, which is why we are able to offer such a comprehensive service agreement.
- As a full partner in your equipment and taking the financial responsibility, we do ask that the lab do two things:
- Call our 24-hour service line as soon as an issue is suspected. 85 – 90% of issues are resolved over the phone. (Yes, this isn’t just a “schedule a technician” line. We resolve real issues over the phone.)
- We ask that you replace the filters per our training when they are needed, which helps us both as partners keep the equipment running in tip top shape.
3. If we can’t resolve the issue over the phone, we’ll be onsite within 24 hours and fix whatever needs fixing at NO ADDITIONAL COST TO YOU.
Conclusion
When we say, “Show me the MONEY”, we really mean, get your annual service contract, no additional monies are required. Let us share in the financial responsibility of keeping your equipment up and running. If you’d like to have a more predictable service pricing model, please email sales@medwatersystems.com – or call me at 801-529- 6705 ext. 3
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