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For an increasing number of firms in the capital goods industry, combinations of products and services, so called integrated solutions, are becoming part of their future growth strategies. By analysing three case studies, the article highlights the variety of such solutions and some important implications for the involved companies. The analysis suggests that companies need an extended set of competences to succeed in providing integrated solutions, amounting to a balance of technical and integration competence with market/business, consulting and partnering competences. This implies a move from product‐focus to customer‐centric orientation and focus on optimisation of user processes. From a research perspective the paper underlines the importance of integrating studies of product and service innovation, two fields that so far have been studied separately.