New Marquee Customers, Global Expansion and Addition of Key Board Members Signal Continued Leadership in $18 Billion Global Field Service Market
LONDON, UK. — March 26, 2015 — ServiceMax, the field service management solution for a new era of business, today announced it wrapped up another record-setting fiscal year by reaching several key milestones. It added 140 new customers, grew recurring revenue 85 percent with 200 percent year over year growth in Europe, expanded its footprint with the company’s first office in Asia, added two Silicon Valley heavyweights to its board and was positioned in Gartner’s “Leaders” quadrant of the Gartner 2014 Magic Quadrant for Field Service Management for the first time*, the only 100 percent cloud-based offering in the Leaders quadrant.
“It’s been another incredible year of growth for us, but we’re really just getting started. Our success is a reflection of how much opportunity there is in this market,” said ServiceMax CEO Dave Yarnold. “As we enter into the era of the Internet of Things, it becomes increasingly important for companies to have an effective system of record to track their installed products at various customer locations. As more companies move to a services-led business model, it becomes even more strategic to have a field service system to track its people, products and service processes. ServiceMax has uniquely led the way and enabled our customers to realize immense increases in revenues and profits through enhanced service operations.”
The 140 new customers ranged in size from small businesses to large global enterprises with up to 40,000 field technicians. Additionally the company saw over 300 customers expand their usage of ServiceMax, including Alberta Harwood Flooring, General Electric, HelioPower, Schneider Electric, Varian Medical Systems, and WirelessWerks.
The company’s spectacular year of growth in Europe reflects a growing appetite for cloud-based field service across the continent. European operations achieved over 200 percent year over year growth, and included dozens of new ServiceMax customers including CareFusion International, IMA, QubeGB, Marel, Nilfisk, and Sky Italia. The company continued its reach into new geographies when it opened its Tokyo office last November.
Partner Ecosystem Expands Rapidly
The global demand for field service domain expertise grew exponentially in 2014. ServiceMax grew its global system integrator ecosystem to more than 30 firms globally, generating more than 1000 percent growth in ServiceMax-related service revenues during the past year. New partners include NTT Centerstance and Appirio. There are now more than 250 certified ServiceMax implementation consultants worldwide.
Continuing its technology revolution of field service, the company released new apps designed for the iPhone and for Android-based phones and tablets. It also debuted a third-generation update to its flagship iPad app.
ServiceMax expanded its leadership team with the addition of two Silicon Valley icons to its Board of Directors — Roger Siboni and Tony Zingale. Siboni brings invaluable leadership and operations experience from more than 20 years at KPMG, where he oversaw the firm’s global technology practice and also served as Deputy Chairman and Chief Operating Officer. He also served as CEO of CRM vendor Epiphany, and sits on the boards of Marketo, Dolby Systems, and Cadence. Zingale is Executive Chairman of Jive Software where he was CEO for more than five years. Prior to Jive, Zingale was the CEO of Mercury Interactive, a business technology optimization vendor, and Clarify, a CRM vendor.
ServiceMax leads the massive and global industry of field service management software -- an $18 billion market worldwide. The company continues to reimagine and create solutions for the 20 million people globally who install, maintain, and repair machines across dozens of industries as the only provider of complete end-to end mobile and cloud-based technology for the sector. ServiceMax goes to every length -- from joining technicians on service calls to publishing the industry's leading online publication -- to help customers discover untapped innovation, unleash new revenue streams, drive efficiency, and most importantly delight their end-customer. To learn more, please visit http://www.servicemax.com.
*Gartner, Magic Quadrant for Field Service Management, William McNeill, Michael Maoz, Jason Wong, 22 December 2014
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