This research adopts a configuration and business model perspective to enhance our understanding of the interactions between digital technologies and servitization business model elements across different contexts. An exploratory study of 726 manufacturing firms that offer different services was conducted using mixed content analysis and the set-theoretical analysis method. Our findings suggest that digital technology plays multifaceted roles in achieving high profits, relying on how it is configured with other business model components of servitization in different contexts. The findings also suggest that big data and analytics emerge as a consistent enabler of high performance, highlighting its critical role in servitization business model. The varied nature of IoT and cloud computing suggests their impact is contextualized, supporting the idea that companies need to adapt digital solutions to a firm’s situation. Our research theoretically broadens the explanatory framework of the mixed effects of servitization business models, expanding our understanding of how firms adapt their strategies to succeed in varied competitive environments.
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