Based on its recent analysis of the positive displacement (PD) pumps market, Frost & Sullivan recognizes Pump Solutions Group™ (PSG), a Dover Corporation (Dover) company, with the 2010 North American Frost & Sullivan Award for Customer Value Enhancement. There is a dearth of multiple equipment manufacturers in the PD pumps market; most participants offer individual products that end users are forced to piece together either by themselves or through distributors. Thus, vendors that provide complete solution-sets will have a strong advantage amidst diverse end-users. Dover has edged out competition by establishing PSG, which consolidates all of Dover's individual brands, including Wilden®, Blackmer®, Griswold™, Almatec®, Mouvex® and Neptune™, into one organization that is designed to offer cohesive product solution-sets to customers.
"PSG's integrated business structure encompassing all of Dover's diverse brands allows the company to function as a single business entity, leveraging its common manufacturing and supply-chain infrastructure into enhanced value for its customers," says Frost & Sullivan Research Analyst Muthuraman Ramasamy. "Its multiple pump technologies, combined with its domain expertise spanning several industry-verticals enable Dover to cater to diverse operational requirements of end users."
Currently, PSG is one of the largest manufacturers of air operated double diaphragm and sliding vane pumps. It has facilities across 7 distinct locations, including three within the U.S., which helps the organization to ensure prompt customer service and support. The company is well-positioned to expand its market presence through customer-centric product offerings and strategic consolidation.
While there is a comprehensive overlap in terms of product lines and technologies in the market, PSG has differentiated itself from its peers through a distribution-centric business model. The fact that 95% of sales happen through these channels validates PSG's extensive market-footprint. PSG has also taken a different approach in order to increase its customer base. It uses key account managers (KAM), who are placed strategically across primary industry-verticals so that they can periodically engage with end users.
"This strategy allows PSG to continuously assess and address end-user needs, while providing subsequent evaluations of the organization's performance," says Ramasamy. "The active engagement model has enabled PSG to leverage its core competence of housing multiple pump technologies to address the end user's need for a global alliance."
Further, PSG has set up various distribution vision teams (DVT) in order to encapsulate customer perspectives and translate them into innovative products and technologies. A case in point: malfunctioning seals are the number one cause for pump failure and PSG has introduced seal-less pumps from Mouvex®, ushering in a new level of durability and system-reliability. PSG's ingrained technological capability has enabled it to create best-in-class products that have a loyal customer following. One example would be Dover's TX series sliding vane pumps from Blackmer, which are capable of handling a wide range of fluids and at the same time possess a very low maintenance cost over its entire lifecycle.
Significantly, PSG addresses pump requirements for both harsh as well as sanitized operating conditions. The company's tactical ingenuity in doing so makes it one of the most preferred solution providers in the market. For instance, Dover's Wilden® SanifloTM Hygienic series line of air operated double diaphragm (AODD) pumps and pulsation dampeners are specifically engineered to meet the stringent compliant standards of food and beverage industry. The pump is outfitted with the patent-pending Pro-Flo XTM air distribution system (ADS), which delivers the much needed operational flexibility across a cross-section of viscosities, solids and shear-sensitive products. The Pro-Flo XTM Advanced™ series also incorporates the patent-pending Efficiency Management System™ (EMSTM), which has an integrated control dial that provides the flexibility to control flow-rate and efficiency for any given application to the end user. In fact, leading end users, such as Diversified Chemical Technologies Inc., have reduced their maintenance-related expenditure by over 50% by using PSG's pumps.
"End users appreciate PSG's ability to create reliable and simple designs, which enables them to easily re-build in order to meet varying applications," notes Ramasamy. "This is not the case with many competitors' offerings as they require precise alignment of parts to prevent any leakage."
Overall, Dover's formation of the PSG acts as an umbrella group through which end users can choose from a wide range of pump technologies. Dover's strategic acquisitions and subsequent successful integrations of those companies have enabled it to deliver enhanced and continuous value to business owners, making it the worthy recipient of the 2010 North American Frost & Sullivan Award for Customer Value Enhancement in the PD pumps market.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. This award recognizes the company's inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Dover Corporation (DOV)
Dover Corporation (dovercorporation.com) is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.