In our digitalized economy, many traditional service engineering models lack flexibility, efficiency and adaptability. As today’s market differs significantly from the market of the late 20th century, service engineering models must meet different requirements today than they had to meet in the past. The present paper starts off by providing an overview of the requirements that modern service engineering models need to fulfill in order to succeed in today’s economic environment. Afterwards, three promising models that meet several of these requirements will be introduced.