Bossard, a Swiss company founded in 1731, has successfully transitioned from a product-centric approach to one that offers services and solutions. It has achieved significant revenue growth despite economic challenges. Its brand promise, “proven productivity,” guides its actions, including its early adoption of AI. From 2010 to 2022, the firm’s net revenue grew from CHF 475 million to CHF 1.154 billion (7.7% CAGR), despite a massive currency appreciation, a global pandemic and a supply chain crisis. “Proven productivity” permeates all levels and activities of the company and serves as a guiding principle in everyday decisions: How do you increase the productivity of customers? According to public records, Bossard’s customers were original equipment manufacturers (OEMs), such as Tesla, John Deere and Thermoplan. Bossard did not serve the maintenance, repair and overhaul (MRO) market, nor did it sell through do-it-yourself (DIY) chains like Home Depot, Lowe’s, Adeo, Kingfisher, Bunnings, OBI and Bauhaus. Bossard already employs machine learning to anticipate demand trends across various products. The company’s leadership is optimistic about leveraging generative AI for customer interactions. This could include an AI chatbot drawing on Bossard’s extensive knowledge base to provide technical advice to customers, or AI-assisted tools to support Bossard’s own specialists in responding to enquiries. With a governance structure that promotes collaboration between the executive and non-executive boards, including AI expert Petra Ehmann, Bossard aims to democratize AI knowledge across the organization. It is also leveraging AI tools like Microsoft Copilot during its enterprise resource planning (ERP) system rollout. This strategic focus on AI aligns with Bossard’s dedication to enhancing customer productivity while embracing technological advancements to evolve its business. Balancing ongoing operations with strategic AI integration is a key challenge, but Bossard is confident in its ability to leverage AI to strengthen its brand and maintain its growth trajectory.
Jan, a seasoned VP, faces the challenge of leading a critical summit in Singapore post-acquisition. Amid cultural complexities, she seeks guidance to unite diverse stakeholders and drive successful integration.
AI is automating more of our daily work, and now employers are starting to ask: what’s being done by humans?
Organizations are overly focused on using AI to enhance the efficiency of their processes. Instead, they should be exploring how it can revolutionize their business models in previously unimaginable ways. Organizations are overly focused on using ...
Discover how CHROs, like Nadim Penser at Epiroc, transform HR from a support function to a strategic leader driving business growth and diversity initiatives.
Explore how generative AI tools reshape power dynamics in organizations, amplifying individual influence and collaboration. Essential for career growth and leadership!
Discover Jerome's journey as a senior manager navigating competition and collaboration in a results-driven culture.
Four tips to market to women more effectively and reach, engage and convert female consumers who make 80% to 85% of all purchasing decisions.
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications