October - 2016 - issue > 20 Most Promising Energy & Utility Solution Providers - 2016

ServiceMax: Maximizing Field Service Effectiveness via Data-based Decision Making

si Team
Sunday, November 6, 2016
si Team
Going with the old school method, we either service equipment too early (waste of money), or only when it fails (costs more) and takes few weeks to get it running again. Finding precisely the right time to deploy service gets a lot more effective if informed by accurate data about the equipment, service history, and sensor data from the equipment. A pioneer in enabling such data-based decision making is ServiceMax, which optimizes equipment to run their useful life to max with its robust cloud-enabled, mobile-ready platform that it has been building for nearly a decade. With this platform, customers of this California-headquartered company are collectively seeing 26 percent increase in productivity, 22 percent upticks in service revenue, 17 percent growth in first-time fix rates and 15 percent increase in CSAT.

The Exhilarating Ride

The company that today employs 430+ globally throughout its offices in California, Texas, Bangalore, Tokyo, Australia and UK with basket full of top-notch customers (McKinley Elevator, GE, Philips and Sony to name a few) was initially called Maxplore when it was established by Athani Krishna (CSO) and Hari Subramanian (CTO). It was reborn as ServiceMax in 2008, when they entered the solution in the 'Million Dollar Challeng', and eventually won a prize of $2.5 million in funding from Emergence Capital Partners and Salesforce.com in Dreamforce event!

ServiceMax is the only complete field service software solution that helps companies of all sizes manage contracts, scheduling, and parts, while also providing solutions for social, portals and analytics - an overarching proposition no one can come close to. Its central management platform deriving real-time diagnostic data from IoT furnished machines equips service managers with a single pane of glass to monitor the status of potentially thousands of equipment, and automatically place order for the needed parts even before they get on-site, vis-a-vis the traditional method that led to waste of time, productivity and money.

While companies had for many years believed field service management could be handled through a mere CRM/ERP plug-in, the field service space has evolved and become more complex and nuanced such that it dictates a tailor-made solution.

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