ServiceMax has announced a new company milestone as 200 million assets are now under management on the company’s service execution management platform. 

While ERP and CRM systems are key to managing financial and sales data, a technician’s understanding of equipment in need of maintenance and repair is critical for successful service execution. Accurate equipment data is also essential in order to correctly dispatch the best technician for a given job, with the proper tools and needed parts. Unlike other field or asset service management solutions, ServiceMax’s purpose-built platform is designed to manage accurate data about complex equipment as-maintained, providing a reliable system of record for serviced equipment data. Technicians using the ServiceMax platform can depend on always having a reliable, historic record of service jobs, parts replaced and tools used for all previous jobs on a given machine or equipment part.

“Field Services are at the core of our strategy and mastering our installed base data is a key enabler to execute,” said Daniel Philippe, Vice President of Global Field Service Operations at Schneider Electric. “Our customers expect us to provide the best services and support. By leveraging ServiceMax as a system of record for the installed base, we can better understand our business, the market dynamics, where the installed base is, and deliver excellent, consistent service across the globe.”

“The more sophisticated the equipment, the more service planners, dispatchers, and technicians depend on accurate data for each piece of serviced equipment,” said Amit Jain, Senior Vice President of Product at ServiceMax. “With ServiceMax, service organizations have the ability to capture and update accurate equipment as maintained data. This asset visibility is not available in other enterprise applications and is critical to digital service transformation.”

“Getting to a state of consistent master data is a struggle for most organizations,” said Kevin Prouty, Group Vice President for IDC Energy and Manufacturing Insights. “Organizations need a solution that can scale from a few dozen devices to hundreds of thousands of assets. Effectively implementing a system of record puts assets under management to greater use and improves the company’s bottom line.”

Having a system of record of your equipment data as maintained in the field is key for organizations wanting to move from break-fix, to proactive and eventually predictive service. Since implementing ServiceMax as the system of record for accurate installed base data, ServiceMax customers have, on average, reduced mean time to repair by 13%, increased first time fix rates by 15%, and improved equipment uptime by 12%.