In an announcement that sent shockwaves across the world late last night, a consortium of high profile technology and business leaders have delivered a signed petition simultaneously to multiple national and extra-national governmental agencies including the US Senate, EU Council and CCP's National People's Congress to urge them to turn off the Internet of Things for an entire week once a month in a bid to combat climate change...

The official petition, which is being dubbed the 'slight reset' has over a hundred signatures of influential and powerful CEOs and is reported to have been largely driven by Bill Gates, whose company Microsoft could lose a significant amount of revenue if the plan goes ahead.

However, Gates, a well know philanthropist, is apparently prepared to risk denting his earning potential in a bid to save the world. A source close to Gates said 'Bill really just wants to make a difference and he already has his team working on bio-internet applications that could bridge the gap during each month's 'slight reset.'. 

"The idea is that we can harness some of mother Earth's natural resources as organic data warehouses, during the planned downtime, and utilise these to re-upload the missing data after each reset," the source added. 

It is not clear exactly what organic data warehouses may look like although a clue may be in a small Scottish company Gates recent acquired EcoLokate who have a number of patents registered in the area of bio-sonar data transmission. Notably, in 2012 Dr. Ewan Nether-Beleefis, founder and CEO of EcoLokate published a report in leading journal Science on an exciting experiment in which he and his team completed the first successful transmission of data from one species to another via bio-sonar telemetry utilising a bat and a dolphin.

"Simply by turning off the IoT for a few days once a month, we could extend the life expectancy of our planet by 42% long term

The data transfer, which was a txt file containing the phrase 'So long and thanks for all the fish' was heralded at the time as a potential mechanism for wide-scale bio-internet potential, although many questioned the veracity of the work. 

Spokesperson for the Slight Reset collective, Prof. Ima Fulovitz gave the following statement from their home in Springfield, Oregon, USA. 

"The aim of this group is simple. We are not looking to take away your internet, not at all. In fact, during the slight reset primary internet will remain in place. It is just the internet of things (IoT) that we are pushing to be shut down. And remember, this is only a temporary pause each month to allow the planet to simply catch its breath.

"Many people don't realise that every single nano-transaction on the IoT creates a fractional outlet of Carbon Dioxide. While it is only a trace amount each time, given that there are 22 Billion devices all over the world, the impact of this soon stacks up.

"Our recommendation, based on hard, factual, real science numbers is that simply by turning off the IoT for a few days once a month, we could extend the life expectancy of our planet by 42% in the long term. If we don't do it the Earth could potentially become uninhabitable by 15:32 CST on October 19 this year. 

"We need to act now. Yes it will be a pain having to turn the lights on with our hands and of course we'll all miss our morning chat with our AI enabled toaster, but its' worth it just once a month to stop the oceans boiling."

Of course, for the field service industry which has recently only just reached a point of mass adoption and adjusted to a new connected world this news could be hugely damaging. 

"I really think that all sides of this conversation need to be considered before we make any rash judgments," urged Kris Oldland, Editor-in-Chief of Field Service News. 

"Important people need to look at every piece of information here, starting with a close look at the date." 

Further reading:

• Read more about bio-sonar telemetry and its potential in field service here 
• Read more about the Slight Reset here
• Read more about challenges of the IoT and the Environment here 
• Double check what day this was published here

Kris Oldland, Editor-in-Chief, Field Service News, is joined by Karl Lowe, Head of European Service, Panasonic Heating and Cooling Solutions Europe and Sarah Nicastro, Field Service Evangelist, Future of Field Service and IFS as the group discuss how Panasonic implemented a remote service solution during the pandemic.

The discussion looks at the drivers for implementation, the approach Panasonic took to rolling the solution out, a demonstration of the solution, and a broader discussion around the benefits of remote service within the field service sector.

In this excerpt from the three discuss the various possible use cases for remote service within the field service sector.

Want to know more? FSN Premium Subscribers and FSN Elite Members can watch this full interview and hours more of in-depth long-form interviews with a series of field service leaders in the Field Service News Digital Symposium. Watch the interview with Lowe and Nicastro on the button below.

If you are currently on our free forever FSN Standard subscription tier or have yet to join 30,000 of our field service peers as a FSN subscriber you can find out more again on the button below. 

Further Reading:

• Read more about the Digital Transformation in the field service sector @ https://www.fieldservicenews.com/blog/tag/digital-transformation
• Read more about Service Innovation and Design @ https://www.fieldservicenews.com/blog/tag/service-innovation-and-design
• Read more about IFS Remote Assist @ https://www.ifs.com/us/solutions/service-management/remote-assistance/
• Follow IFS on Twitter @ https://twitter.com/IFS
• Follow Panasonic Heating and Cooling @ https://www.aircon.panasonic.eu/GB_en/?utm_source=Field%20Service%20News&utm_medium=Symposium
• Read more about Pansonic's use of IFS Remote Assist @ https://www.ifs.com/uk/news-and-events/newsroom/2020/07/20/panasonic-ensures-customer-experience-consistency-with-ifs-remote-assistance/
• Connect with Karl Lowe on LinkedIn @ https://www.linkedin.com/in/karl-lowe-67267548
• Connect with Sarah Nicastro on LinkedIn @ https://www.linkedin.com/in/sarahhowland/

In the second of this series of excerpts from a brand new white paper authored by Kris Oldland, Editor-in-Chief, Field Service News published in partnership with PTC, we look at the rise of remote services as a mainstream mechanism for delivering service and maintenance... 

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This feature is just one short excerpt from an exclusive Field Service News White Paper published in partnership with PTC

www.fieldservicenews.com subscribers can read the full white paper now by hitting the button below.

If you are yet to subscribe you can do so for free by hitting the button and registering for our complimentary subscription tier FSN Standard on a dedicated page that provides you instant access to this white paper PLUS you will also be able to access our monthly selection of premium resources as soo as you are registered.

 

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While the concept of remote service delivery within the field service sector has broken into the mainstream conversation over the last-twelve months, it is far from a new concept. Indeed, it has been a frequently discussed topic amongst many field service organizations for several years.

The arguments for adopting the tools and processes for delivering service remotely are well defined and have been in place far in advance of the most pressing reasons that emerged during 2020 as a result of the pandemic.

As outlined in a Field Service News article from 2019 “The idea behind remote technicians stems from the technician’s ability to diagnose a problem, determine possible solutions, and lay out a plan for issue resolution - all before they take one step onto the worksite. In a perfect world, remote technicians essentially only have to leave their workstations once to perform tasks that require a high level of skill, or perhaps not at all for routine maintenance and repair. 

Naturally, this drastically cuts down the amount of travel cost, time and total project duration needed to solve an issue with a customer’s device, streamlining the entire service request from issue detection to resolution.”

Indeed, as we move more and more towards a world of servitization and outcome-based services, where the onus is on the service provider not just to meet an SLA but to consistently minimize any potential asset downtime, remote service is not only an approach to achieve effective service delivery, it is, by necessity, the default approach.

Why? The answer to this lies in the reduction of an important metric tracked by service organizations, mean-time-to-repair (MTTR).

For the field service organization that has adopted a practical remote-first approach to service delivery, the conversation around MTTR is no longer measured in days or even weeks, resolution can now, in essence, be delivered instantly. A recent study by Field Service News Research, that spoke to 145 field service organizations, identified that 89% of these companies stated that much faster response times was a key benefit of adopting a remote-first approach to service delivery.

Even still, the benefits of incorporating remote service capabilities into a field service portfolio are not limited to efficiency gains and cost reductions. There are many other well established and clearly identified benefits of remote service delivery including extended geographical reach, reduced time to get new engineers active in the field, knowledge capture and much more. 

In short, the shift to remote service delivery had for many companies already begun, and the reasons for taking this path were becoming increasingly apparent.

Yet, that path was being walked by a relatively small group of companies who were at the leading edge not only in terms of technology, but also in service thinking. However, while the number of companies that were beginning to take that path was steadily increasing, many in the field service sector were yet to follow.

“The shift to remote service delivery had for many companies already begun, and the reasons for taking this path were becoming increasingly apparent...”

This all changed in 2020. As we collectively faced the unprecedented challenges of international lockdowns brought on by the coronavirus pandemic, field service companies were suddenly faced with an entirely new set of challenges. How could we continue to deliver service and maintenance to our customers, many of whom fell within the ‘essential provider’ bracket, while overcoming the new challenge of not violating our clients’ hastily adopted biosecurity measures?

Almost overnight, the need for zero-touch service delivery became omnipresent.

The solution, of course, was the mass adoption of remote service delivery.

Data from Field Service News Research outlined that by September 2020 three quarters (76%) of field service companies now had some form of remote service capabilities. To further drive home how significant the impact of the pandemic was in this shift, over two-thirds of these companies (67%) stated that they implemented these tools as a direct result of the pandemic.

Yet, in a second study by Field Service News Research that dug deeper into what the widespread adoption of remote service delivery means for the field service sector, we found an industry picture that is far from cohesive in defining remote service delivery.

That study showed that of those companies that are delivering service remotely, only 21% are using Augmented Reality while the most commonplace tool used for remote service delivery was the phone (used by 86%). However, it is not just a gulf in tools being used that has emerged within this new frontier of service delivery.

There is much uncertainty around pricing strategies, as well.

In fact, within that same study, we saw that while only 4% of field service companies are charging more for remote service delivery, 35% are not charging for remote service at all, while 31% are charging less.

Of course, due to the sudden introduction of remote-service as a mechanism for service delivery, many companies will have swallowed the cost of remote service within existing contracts, yet, the fact remains, that our industry appears to be somewhat split in how we should accommodate the pricing of remote-service delivery within our service portfolios.

These inconsistencies around the pricing of remote-services is another indicator of the uncertainty within the industry regarding how remote service should be integrated within a service portfolio.

However, if we look at remote-service not in isolation but as a holistic part of a broader service portfolio, we can seize the opportunity to further drive service excellence, which as we shall discuss in the next segment, has proven to be a compelling strategy for revenue growth and competitive advantage.

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This feature is just one short excerpt from an exclusive Field Service News White Paper published in partnership with PTC

www.fieldservicenews.com subscribers can read the full white paper now by hitting the button below.

If you are yet to subscribe you can do so for free by hitting the button and registering for our complimentary subscription tier FSN Standard on a dedicated page that provides you instant access to this white paper PLUS you will also be able to access our monthly selection of premium resources as soo as you are registered.

 

 

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Further Reading:

We begin a new series of excerpts from a brand new white paper authored by Kris Oldland, Editor-in-Chief, Field Service News published in partnership with PTC, which asks if now is the time to make major changes to our approach to service strategy... 

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This feature is just one short excerpt from an exclusive Field Service News White Paper published in partnership with PTC

www.fieldservicenews.com subscribers can read the full white paper now by hitting the button below.

If you are yet to subscribe you can do so for free by hitting the button and registering for our complimentary subscription tier FSN Standard on a dedicated page that provides you instant access to this white paper PLUS you will also be able to access our monthly selection of premium resources as soo as you are registered.

 

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Data usage note: By accessing this content you consent to the contact details submitted when you registered as a subscriber to fieldservicenews.com to be shared with the listed sponsor of this premium content PTC who may contact you for legitimate business reasons to discuss the content of this white paper, as per the terms and conditions of your subscription agreement which you opted into in line with GDPR regulations and is an ongoing condition of subscription.

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At the start of 2020 remote service delivery was a relatively untapped area of expertise amongst field service companies. The tools were there. Indeed the technologies supporting remote service delivery were becoming more sophisticated, better integrated and had matured enough to become reliably deployed within a field service context (and had been for some time).

Yet, remote service delivery in reality remained an approach that only a small percentage of field service organisations had adopted within their wider service portfolio. While the number of companies within this bracket was steadily increasing, ultimately, remote service delivery remained an approach viewed as the domain of best-in-class service organisations. In many ways these were companies who had a forward-looking perspective, these were companies who had an advanced understanding of how the service sector would evolve.

Fast forward to the beginning of 2021 and at the surface level at least, that landscape has changed massively.

Two separate studies from Field Service News Research have identified that between 78%, and 83% of field service companies state they have the capabilities to deliver service remotely.

The pandemic has made such an approach a necessity. However, when we scratch beneath the surface of the data, we see that, in many ways, little has changed. While conceptually at least, there is now mass acceptance of remote service as a dominant part of the service portfolio, still those companies using more sophisticated tools such as real-time analytics and augmented reality (AR) remain in the minority, with only a fifth of companies who state they have remote service capabilities using AR.

This leads us to an interesting situation. We have long known in our sector that service can be a real differentiator between organisations, and we have also learned that customers in both the professional and consumer realms are prepared to pay more for a higher standard of service. As the Harvard Business Review reported, customers who receive the highest standards of service spend 140 per cent more than those with the poorest service. In business-to-business environments, a 5 per cent uplift in customer retention will typically see profit increase of between 25 and up to an incredible 95 per cent.

"We should be discussing how we integrate remote service-delivery within our broader service portfolio, looking at it as a tool that is as intrinsic a part of service delivery as the on-site service call..."

The question many are asking is, with the industry-wide acceptance of remote service delivery that emerged in 2020, will we see service standards in how remote service is delivered become a crucial battleground?

However, in this white paper, I would like to put forward that our thinking around remote service should go far beyond this. 

Currently, much of the discussion around remote service delivery centres on remote-service in a standalone context. The focus is on understanding how remote should sit alongside traditional on-site service delivery as an alternative mechanism for resolving customer problems.

I would suggest instead, that we should be discussing how we integrate remote service-delivery within our broader service portfolio, looking at it as a tool that is as intrinsic a part of service delivery as the on-site service call. Both means of delivering service, on-site and remote, have specific strengths which we as service providers can and should be leveraging in order to optimise the service standards we offer our customers.

Additionally, while the pandemic and subsequent lockdowns have brought significant challenges to service delivery in the field, I would also put forward that it presents us with a clear opportunity to redefine the value proposition of our service offerings. As with remote service delivery, much of the ground work has been laid ahead of us, with many best-in-class organisations having begun down a path towards servitization.

However, this is not a one size fits all approach and in other instances a more transactional approach to service is best suited. Indeed, often we will find multiple service offerings within one portfolio that range from the simple and transactional solutions to sophisticated and complex outcome-based service offerings.

What is important though is having a clear understanding of where the value proposition lies within the service solutions we offer our customers.

This is crucial as we as a sector embrace remote-service as a concept, as we harness the disruptive nature of the pandemic for good, we have an opportunity to bring many moving parts together and re-imagine service delivery, with both on-site and remote-service delivery playing distinct but equally crucial roles.

To do this effectively, we must start from the customer’s perspective. What is the problem we are trying to resolve for them and does the optimum resolution of that problem lend itself to remote or on-site service delivery as the most effective mechanism?

The discussion continues...

Within the white paper and across this series of features which we will be running across the coming weeks we will we will explore what this seismic shift in acceptance of new ways of working will mean for the field service sector.

The central tenets of this paper that we will discuss are as follows:

#1: Remote Service almost overnight became a widely accepted approach to service and maintenance delivery

Remote service has been around for a long time, but the appetite for it has been dramatically increased since the pandemic. Out of necessity the concept of remote service became widely accepted by service providers and their customers alike. The result of this industry-wide sea change is that we, as a sector, are now actively rethinking what service delivery looks like post-pandemic, with remote service delivery set to become a key part of the ‘new-normal’ well beyond recovery.

#2: The rapid and widespread adoption of remote service delivery that occurred in 2020 has resulted in wide variances in how remote service is delivered

Prior to the pandemic remote service delivery was a relatively uncommon mechanism for service delivery. However, out of necessity this changed during the pandemic and remote -service delivery became commonplace. Yet, the ways in which remote service is delivered is now exceptionally varied with a minority of companies using very sophisticated tools, while the majority of those delivering service remotely are doing so in a very rudimentary and ineffectual manner.

#3: Service excellence has been clearly identified for many years to be a core differentiator between competitors

While we are in unprecedented times of rapid evolution at the very foundations of our industry, there are certain business maxims that we must hold onto as we redefine service delivery in the new-normal. One of the most critical of these is that service differentiation/excellence is well accepted as having consistent benefit on the bottom line and this has been borne out time and again in a wide number of studies. While we may be approaching an industry wide step-change in the mechanisms of service delivery, we must still hold an understanding of such tried and tested maxims that underpin service excellence and outline why it is crucial.

#4: Different customers have different needs. Being clear in how you meet their needs as we move into the new normal is key.

As service companies make the adjustment to remote service being a widely accepted method of service delivery, it is important that they clearly understand the value customers see in their overall service offerings if they are to be able to effectively integrate remote and on-site service delivery into a compelling, holistic service portfolio.

#5: Alongside an understanding of customer perception of the value of their service offering, companies should also understand the tools and technologies that will underpin remote service delivery

Having established a firm understanding of their core service value proposition, a service company can identify where, within that portfolio remote is better suited and where on-site is the preferred choice (establishing the why). To do this effectively it is important to understand how the technology stack sits together to underpin remote service delivery (establishing the how). 

#6: There will be a limited window of opportunity to gain a competitive advantage as the industry transitions to remote service as a prominent mechanism of service delivery

If a field service organisation is able to identify both where and how they should integrate remote service delivery into their service portfolio while understanding how this enhances the value they deliver to their customers, then there is a significant opportunity to gain competitive advantage. However, the window of opportunity to do so is potentially small given so many companies are dealing with the same challenges simultaneously.

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This feature is just one short excerpt from an exclusive Field Service News White Paper published in partnership with PTC

www.fieldservicenews.com subscribers can read the full white paper now by hitting the button below.

If you are yet to subscribe you can do so for free by hitting the button and registering for our complimentary subscription tier FSN Standard on a dedicated page that provides you instant access to this white paper PLUS you will also be able to access our monthly selection of premium resources as soo as you are registered.

 

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Data usage note: By accessing this content you consent to the contact details submitted when you registered as a subscriber to fieldservicenews.com to be shared with the listed sponsor of this premium content PTC who may contact you for legitimate business reasons to discuss the content of this white paper, as per the terms and conditions of your subscription agreement which you opted into in line with GDPR regulations and is an ongoing condition of subscription.

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Further Reading:

What exactly is RVA, and why is it rapidly gaining traction? In this article by Michael Blumberg, President of Blumberg Advisory Group, we'll get to know more about this game-changing technology.

Remote Visual Assistance (RVA) is not exactly new technology. It has been around for a couple of years now pre-COVID. However, it was only until COVID that it gained the attention of many businesses.

RVA is one of the emerging solutions amid the challenges posed by the pandemic. But what exactly is RVA, and why is it gaining the attention it has today? In Blumberg Advisory Groups’ Buyer’s Guide to RVA Software, we’ll get to know this game-changing tech, why it is a worthwhile investment, and what to look for in an RVA software fit for your business.

WHAT IS REMOTE VISUAL ASSISTANCE (RVA)?

Remote Visual Assistance (RVA) incorporates augmented reality, including merged reality and 3D annotation, along with video collaboration tools to create a virtual environment where the receiver and provider of support can communicate instantly, on-demand, and in real-time.

It can deliver guided troubleshooting and remote assistance to customers and field engineers through remote virtual assistance software. These features meet the challenges of the COVID-19 pandemic, which has limited companies from sending onsite customer support due to health and safety concerns. This is one of the primary reasons RVA has become the new expectation for service delivery within the Aftermarket Service Industry (i.e., field service, call center, technical support).

USE CASES FOR RVA SOFTWARE

Field Service Leaders consider remote assistance software due to its many uses in the Aftermarket Service Industry. As it continues to prove its value to businesses, it has slowly become the preferred model for onsite service. Below are the most common use cases by business function:

• Call Center - Technical Support: Remote Support, Troubleshooting, and Triage, Customer Self-Service
• Field Service: Second Tier Support, Cross Border Support, Workforce Productivity, Scheduled Service
• Others: Application Support, Training, and Onboarding

BENEFITS OF RVA SOFTWARE

To get a more clear picture of the benefits that RVA software provides to companies, below are recorded improvements of companies who utilize RVA software in their business operations:

• 30% reduction in time to resolution
• 20% improvement in phone fix rate
• 35% increase in first-time fix
• 30% increase in customer satisfaction

The numbers above serve as proof of how RVA has enabled companies to optimize their service delivery performance continually. It has helped lower costs by resolving calls remotely and efficiently and avoiding FSE dispatching. Companies are also able to meet and exceed customer expectations through RVA. Besides improving operations, RVA also has a role in reaching business growth objectives - by monetizing its RVA investment when offering remote support or using RVA as a paid service.

CORE FUNCTIONALITIES A RVA SOFTWARE MUST HAVE

When looking for the best RVA software, there are three general core functionalities to look for: (1) collaboration, (2) access and communication, and (3) enterprise administration.

Collaboration: RVA software must have the ability to allow people at different locations to give and receive help through a remote, collaborative experience. There is a broad array of features that can support collaboration. The most critical of these features are 3D annotation.

Access and Communication: A successful remote session is where the giver and receiver can quickly communicate in real-time. Various features make this possible, including but not limited to in-app messaging and mobile web browser support.

System Administration: As with any software, RVA must-have system administration features that provide user access, manages user accounts, monitor system security, and perform many other functions such as call reporting & analytics, and platform integration, and API support.

A complete description of core RVA feature functionality can be found in Blumberg Advisory Groups’ Buyer’s Guide to RVA Software.

RVA SOFTWARE VENDOR CAPABILITIES

Now that you know the key features an RVA solution must contain, the next step is to evaluate vendor capabilities. Here is an overview of the core capabilities and competencies you can use to assess a potential RVA vendor:

• Application Ease Of Use: End-users can quickly deploy the software
• Customer Success Management: Strong bench of implementation subject matter experts
• Strategic Coaching: The vendor offers ongoing guidance on using RVA in other parts of the customer’s organization.
• Maturity Model Framework: Roadmap for end-user organizations to evaluate areas for improvement and future growth.
• Partnership Approach: Vendor is responsive, flexible, and collaborative; has built a partner network.
• Enterprise-Grade Support: Vendor’s support team can support the needs and requirements of enterprise size customers and integrate their RVA software with enterprise systems.

QUESTIONS TO ASK YOUR RVA SOFTWARE VENDOR

Blumberg Advisory Group has also identified a few Should Ask Questions (SAQs) which are critical questions you can ask your vendors to make the best final selection. For instance:

• How sound is the vendor's company?
• How easy is the product to use and implement?
• What level of security and certification does the application have?
• How will the vendor support your future requirements?
• What is the vendor's track record?
• How scalable is the vendor's solution?

The Buyer’s Guide provides model answers to these questions to help you evaluate and select an RVA software solution.

Read more of Blumberg Advisory Group’s in-depth analysis of Visual Remote Assistance by getting a copy of the full version of the Buyer’s Guide today at go.helplightning.com/2021BuyersGuide.

Further Reading:

• Read more articles by Michael Blumberg @ www.fieldservicenews.com/michael-blumberg
• Read the 2021 Remote Assistance Buyer's Guide @ go.helplightning.com/2021BuyersGuide
• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Follow Michael Blumberg on Twitter @ twitter.com/blumberg1
• Connect with Michael Blumberg directly by email @ michaelblumberg@blumbergadvisor.com

Trackunit has announced that Hg, a leading global software investor, has agreed to acquire a controlling interest in the company from Goldman Sachs and GRO Capital.

The addition of Hg as the new owner provides specialized software-as-a-service (SaaS) expertise at a time of increasing technology mobilization within the construction industry. Trackunit, a global leader in software-led telematics solutions for off-highway vehicles and the construction market, is now positioned to intensify its global expansion.

Hg is a leading global software investor, with capabilities to support Trackunit accelerated growth programme

Commenting on the new investment, Soeren Brogaard, CEO, Trackunit stated, “GRO Capital and Goldman Sachs have been exceptional partners during the last five years and helped us solidify our mission and execute against it. We are proud to have attracted investment from Hg, which comes at a tipping point for the digitalization of construction. Hg’s understanding, experience and focus on scaling leading SaaS companies provides Trackunit with a knowledgeable partner to consolidate and realize our ambitions in a growing global industry.”

Florian Wolff, Partner at Hg, said: “Soeren and the team have led Trackunit to create a best-in-class, SaaS product for its ever-growing customer base. The business has become a key leader and long-term winner in what is a very interesting, global niche segment. We believe that the business has significant organic growth and attractive expansion opportunities ahead of it. We’re really excited about what we can achieve together.”

Nick Jordan, Partner at Hg, said: “Trackunit is a very high-quality business. We believe that Hg’s deep sector knowledge and operational expertise in the software and telematics space will add further support to this impressive track-record. Our experience in internationalization, the evolution of software and data and the further development of sales channels will add up to an even greater experience for Trackunit’s customers, as well as an exciting growth trajectory for the business.”

Construction industry reached tipping point for Digital Transformation

Recent market reports from IDC Worldwide and McKinsey - the next software disruption – illustrate that SaaS has achieved over 25% share of the market for software solutions in the construction sector. Moreover, the increase in connectivity is growing and will amplify the opportunity for SaaS solutions across a global market.

Trackunit is a driving force in the digitization of the construction sector, serving equipment manufacturers, rental companies and contractors, connecting construction equipment and processing data to the cloud to deliver value-added insights. With the new owners on board the Trackunit team remains committed to solving the industry’s needs, but at a faster pace and with greater ambitions.  Customers will benefit from additional investments in product, technology and new services.

Closing of the transaction is subject to customary regulatory requirements and approvals.

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about the Construction Industry on Field Service News @ www.fieldservicenews.com/construction
• Read more about Trackunit on Field Service News @ www.fieldservicenews.com/trackunit
• Find out more about Trackunit @ www.trackunit.com
• Learn more about HG @ hgcapital.com