Pyramis Technology Group: Reimagining Product Lifecycle Management for OEMs and Contract Manufacturers
Marc Schroder, PresidentJosh Beasley and Marc Schroder, two entrepreneurs, one with expertise in insurance and the other specialized in Logistics and Supply Chain Solutions, realized that the supply chain industry lacked a capable partner that could aid in the product lifecycle management through manufacturing, distribution, product management in the field, repair services and reverse logistics. This realization resulted in the inception of Pyramis Technology Group, a one-stop-shop for OEMs to help them leverage the true specialism of vendors in each area of the supply chain from a single place, delivering a best-in-class circular economy ecosystem. The company has developed its namesake platform which allows the customers to choose different vendors for specific processes such as product distribution, warranty management, product repair, end of life trading, and more. To achieve this feat, the board members of Pyramis have leveraged their expertise and contacts in the field and forged partnerships with over 40 strategic partners including leading leasing banks, insurance providers, 3PLs, asset financing specialists, and more. This network that encompasses the entire supply chain lifecycle coupled with a robust system and infrastructure has enabled Pyramis to establish themselves strongly in this space. “Our platform is an aggregation point for OEMs, which is built around robust technology to help them in product lifecycle management through our strategic partnership network,” says Beasley, CEO at Pyramis Technology Group.
Pyramis ensures that their customers gain the competitive-edge of having five vendors without having to deal with the complexities that come with it. "We have pitched our platform to many OEMs and insurance providers and managed to get a lot of traction,” states Beasley. Moreover, by providing specialization in every area of the supply chain, the platform enables its customers to cut down their procurement division by up to 80 percent. "Customers have been able to get the desired specialism at each level of the supply chain while also having the ability to do cost consolidation," adds Beasley.
One of the unique propositions of Pyramis is the product warranty and product protection since its managing partners have years of working experience with the world-leading underwriters and policy administrators. The company offers services for EMS providers and OEMs to manage warranty and advanced product lifecycle care straight from the production line. “We address customer’s risk while delivering a better end-user experience,” says Beasley. The platform then enables the customers to have a full-fledged supply chain to ensure proper management in case of faulty products that were delivered to end-users. OEMs can recover product failures in 120 countries worldwide through the different vendors plugged into the company’s platform.
Besides, the warranty management provided by Pyramis is especially designed for the high-tech industry. The platform’s in-built functions such as maintenance modules notify users about product failures even before the products breaks down. This reduces the downtime for the customer, the insurance provider has fewer calls to address the problem, and then the product can be repaired without a replacement in a faster way.
In an instance, a multi-product consumer electronics manufacturer with clients all over the world was facing issues with product repair. In the case of faulty products, the only solution for the manufacturer was to replace the products with new ones, which proved to be costly for the manufacturer. Besides, their clients consolidated the defective products in one shipment that would be sent back to China for repair.
Josh Beasley, CEOThe whole set-up was time-consuming, costly, and the end-users were unhappy with the service since they had to install new products each time the existing ones malfunctioned. Pyramis came to the rescue and built a system to help the manufacturer repair the products locally where their customers are located. In some cases, Pyramis even established a field services network where technicians fix the products at the end-users’ place. This helped the manufacturer save millions of dollars per year and thereby helped them roll out more products worldwide. “By putting the service network together, we made a significant commercial and operational difference to the customer, whilst also enhancing the consumer experience,” remarks Beasley.
Beasley stresses that by connecting with the customers through as many points as possible, Pyramis ensures a more interactive customer experience while also providing them more choice when it comes to managing their products. On the front-end, they can select Pyramis’ solutions that are powered through the web or by an app, or those operated by a call center. These options enable OEMs to get to know about their products in the field through their preferred mode of interaction. On the back-end, customers can choose various service levels that they wish to offer to the end-users. “Our solutions have been implemented successfully by different customers who work in connected health, mobile phones, automotive, IoT, construction, and other spaces,” says Schroder.
Our platform is an aggregation point for OEMs, which is built around robust technology to help them in product lifecycle management through our strategic partnership network
Pyramis continues to be at the forefront of incorporating new technologies, especially in the field of Big Data, Blockchain, IoT, Connected Services and AI, into their platform to develop a unique offering. In case a customer requires a tool that has not yet been incorporated in the platform, the company partners with the best provider in the market and then integrates it instead of developing it themselves. “By working with a strategic partner network to build a complete ecosystem, we ensure much lesser costs, faster delivery, and enhanced client and consumer satisfaction,” states Schroder.
In 2017, Pyramis was founded with a vision to deliver a truly unique approach to supply chain management, which focuses on optimizing commercial and operational performance of businesses while creating an unparalleled customer experience for end-users. Today, the company works on many projects in industries such as warranty, insurance, supply-chain, and IT across India, the Middle East, Europe, Canada, and North America. They now envision expanding to other markets where they have competencies to offer a more wholesome supply chain management system. "We are not a company that will take on any project. It has to be the right one for us, and we have to be the right partner for our customer,” concludes Beasley.