London, U.K. - 5 May 2015 - The combination of the Internet of Things (IoT), servitisation, and cloud adoption is accelerating the field service management industry to a new tipping point, according to ServiceMax, the field service management solution for a new era of business. As people, products and machines begin to operate in a connected environment, field service management is fundamentally transforming the model for service delivery to both businesses and consumers. According to ServiceMax, differentiation will come not from access to data about product performance, but rather from the ability to use that data to deliver flawless service.
“This is a new era of business for the field service management industry,” ServiceMax CEO Dave Yarnold said. “Leading companies will move to outcome-based service offerings for the growing number of smart, connected devices. ServiceMax is an essential component of the changing service economy.”
The convergence of these three drivers means service will move from reactive product insight to providing predictive alerts, triggering service technicians with the right skills to be deployed to the right place before a fault takes place with preventative maintenance, or in the event something occurs.
In this new world of service, if a machine connected to an IoT platform experiences a problem, the platform will analyse the data and determine if the machine needs servicing. ServiceMax would assign the most qualified technician to the machine via their mobile phone or tablet. Once onsite, viewing all the diagnostic and performance information downloaded from the cloud, the technician can quickly restore the machine to full performance.
“The above scenario is no longer wishful thinking. As more and more equipment and products have connectivity built into them, IoT will begin generating vast amounts of data about product performance and service needs,” Yarnold noted. “This moves the service model from reactive to proactive and predictive, and paves the way for companies to deliver much more reliable outcomes to customers. With today’s strategic partnership announcement between ServiceMax and PTC - the world’s first complete IoT platform - we will be able to marry together specific behaviour patterns with service history to trigger preventative maintenance and predictive repairs.”
Through this partnership, ServiceMax and PTC will co-develop products, co-market and co-sell each other’s offering to enable businesses to use a single, seamless solution for managing and acting on data generated by the burgeoning Internet of Things.
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.
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