Sergey Krasovski, Strategic Marketing Analyst, Trimble explores the opportunities that augmented reality can present for field service organisations...
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Aug 06, 2018 • Features • Augmented Reality • construction • Future of FIeld Service • manufacturing • field service • Smart Glasses • Trimble • Trimble Pulse • agriculture • AR technologies • Asset downtime • mixed realities • real-time data • Sergey Krasovski • service workflows • Video collaboration
Sergey Krasovski, Strategic Marketing Analyst, Trimble explores the opportunities that augmented reality can present for field service organisations...
The mass and wide-scale adoption of augmented and mixed realities are gathering pace across a multitude of industries. To define, augmented reality refers to the process of superimposing a computer-generated image on a user's view of the real world. Mixed reality is the merging of real and virtual worlds to produce new environments and visualizations.
In the field service industry, this emerging technology can play a significant role in changing the way field technicians and the business collaborates to resolve technical issues, provide support and access documentation. Indeed, technologies such as AR smart glasses can overlay digital information (such as text, video or audio) onto the human field of view, interactively and in real-time. ABI Research sees a turning point for AR smart glasses, predicting that 21 million units of AR smart glasses will be shipped in 2020, with sales expected to reach $100 billion.
Optimizing Service Workflows
Mixed and AR technologies present strong use cases for the field service industry for optimizing service workflows. The ability to perform time-critical jobs thoroughly, quickly and first time around, by obtaining the right information from the correct source, is one.
Historically, service technicians had to sift through paper manuals or search their own memories to find a fix for complex equipment issues. This was an onerous process to go through and often resulted in a disgruntled customer. Today, however, Augmented Reality headsets provide technicians with the ability to communicate, collaborate and solve issues more efficiently. They could be dispatched to a job where they could see the service manual, real-time data and technical details about the product directly overlaid on it. There would be no need for a clunky laptop, phoning a colleague for assistance or contacting the back office for customer information; everything they need would be accessible with a flick of their head.
There is a big place for Augmented Reality in optimising service workflows. However, deploying new technology takes careful planning to realise the full benefits.
Empowering Less Skilled and Ageing Workforces
In mission-critical industries, such as construction, manufacturing and agriculture, ensuring that the service team captures knowledge and transfers it efficiently across the organization is a ‘must have’, not a ‘nice to have’. Asset downtime or system failure is not an option as it may result in entire projects grinding to a halt and monetary losses. Issue resolution needs to be quick and this is where collaborative video tools can best support a less skilled and ageing workforce.
"Video collaboration with augmented peer-to-peer help is being designed and implemented to connect less skilled technicians with more skilled ones remotely..."
Video collaboration with augmented peer-to-peer help is being designed and implemented to connect less skilled technicians with more skilled ones remotely. A technician with specific areas of expertise may reside in an office and virtually walk an apprentice through a service call, step-by-step. Markups can be made during a video call between an expert and field technician to visually show what needs doing and to be sure the field technician is clear about what to perform service on. The expert can draw a circle or arrow on a screen to highlight a specific area, eliminating costly mistakes.
There are parts of the world where you can’t get the right expertise for a job or flying out a specialist may prove too costly for a company. Augmented reality eradicates these concerns by allowing experts to take those of less skill through the entire process. Not with a manual and not on the phone, but they can actually see what they are doing.
Many technicians are performing this peer-to-peer help in ad hoc ways today; using tools like Facetime and Skype. This, however, has resulted in issues. For example, sending a facetime request to another technician can be very disruptive. It is also difficult for the technician requesting help to know who to contact and if they are available. Whilst the time spent by the expert is not often tracked. For organizations that want to successfully scale this technology, they need to consider how to integrate it more tightly into the service workflow.
"As technicians age and a new crop of workers join the business, it is imperative that the latter be able to leverage past knowledge. An ageing workforce is putting pressure on service organisations..."
As technicians age and a new crop of workers joins the business, it is imperative that the latter be able to leverage past knowledge. An ageing workforce is putting pressure on service organisations. The benefit of augmented or virtual reality is its potential as a highly detailed, highly visual training tool. Companies are recording repairs being performed on older pieces of equipment to be used as a reference by less experienced technicians. By utilising augmented reality to make markups pointing to specific equipment details, service companies can create a searchable library using descriptive metadata, and hashtags for quick access. This is a great way to offer on-the-job training and avoids the downtime and loss of productivity associated with having the entire team come into the office to learn new techniques.
Collaborative video tools not only provide the field team with the real-time assistance when solving complex issues, they also connect field service to the entire organization. Indeed, video content, such as markups and screenshots, can be captured by augmented reality tools and stored in a cloud. The stored data can then be tied with a work order and include valuable metadata such as geolocation, type of equipment, date of last service etc. If such data is centrally stored and can be easily accessed, it could be used for purposes like new technician training, proof of work and so on.
For more information on how you can look to roll out augmented reality across your field service operations, visit: www.trimblepulse.com
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Aug 03, 2018 • video • Features • Evatic • field service • field service software • Service Management • Service Management Software • Software and Apps • business software • Pål Rødseth • Small Medium Businesses • SMB • winsxerv • Asolvi
Kris Oldland, Editor-in-Chief, Field Service News talks to Pål Rodseth, CEO of Asolvi about how he has brought together three key companies serving the SMB field servicer market across Europe, the meaning behind the new brand name Asolvi, how their...
Kris Oldland, Editor-in-Chief, Field Service News talks to Pål Rodseth, CEO of Asolvi about how he has brought together three key companies serving the SMB field servicer market across Europe, the meaning behind the new brand name Asolvi, how their customers are benefiting from the collectively shared learnings of a wider pool of peers and what the future holds for Asolvi.
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Aug 03, 2018 • Fleet Technology • News • fleet technology • workforce management • Electronic Logging Device • field service • field service management • Fleet & Asset Tracking • fleet management • Routing Application • SensLynx • Service Management
Though still a young company, SensLynx has quickly established itself as one of the foremost brands in the fleet and asset management industry.
Though still a young company, SensLynx has quickly established itself as one of the foremost brands in the fleet and asset management industry.
Some of the credit goes to its co-founders, both of whom have long-standing track records as executives with other wireless entities and top tier fleet tracking companies. But SensLynx’s world-class GPS tracking hardware and software, as well as its full suite of mobile solutions for companies of all sizes, is another driving force behind its sterling reputation.
Since its inception, SensLynx has broadened its scope into many other IoT areas but sees a powerful opportunity for unlimited growth in the fleet tracking arena through a network of newly minted resale business owners.
IoT fleet management continues to be one of the fastest growing markets globally and is forecasted to be worth over $15 Billion by 2024.
Yet, it is also one of the most under-penetrated, opening a wide window for agile entrepreneurs in a broad range of verticals, such as Transportation, Plumbing, Heating/Air Conditioning, Landscaping, Electricians, Food Delivery, Utilities/Oil/Gas, Construction, Non-Emergency Medical Transport, Airports, Waste Management and Public Safety/Security.
The GMAP program is built around SensLynx’s bundled solution components, which include Fleet & Asset Tracking, Electronic Logging Device, Routing Application, Video/DashCam capture and Workforce Management for smartphones The new SensLynx GPS Management Accelerator Program (GMAP) can either enable start-ups or enhance existing business portfolios with the addition of tracking solutions. GMAP requires no upfront investment or inventory warehousing and is structured to deliver recurring revenue via new sales channels, while also being compatible with legacy business models to capitalize on similar customer profiles.
And because SensLynx white labels its solutions under certain criteria, entrepreneurs earn significant margin on hardware sales (up to 75%!) plus monthly subscription income from the customers they will own outright.
“We believe in the entrepreneurial spirit,” said Rob Garry, Co-Founder and CEO of SensLynx. “Not only does this Accelerator Program help us grow our IoT Fleet sector on a grassroots level, it inspires others to strike out on their own or expand.”
The GMAP program is built around SensLynx’s bundled solution components, which include Fleet & Asset Tracking, Electronic Logging Device, Routing Application, Video/DashCam capture and Workforce Management for smartphones. At the heart is its comprehensive fleet/asset tracking software, packed with features like Data Handling, Parsing, Database, Mapping, Alerting, Reporting, Dispatch, Maintenance Logging, e-Logs, Local Posted Speed Limits, Addressing, Geofencing, Interstate Miles, Open API-based software and more. The complete bundled solution with software, hardware and data connectivity is attractively packaged at one guaranteed monthly price.
SensLynx’s GMAP program provides every tool necessary for companies to succeed, including initial training, planning for roll-out, conducting telemarketing for launch, developing website content, providing custom branded marketing materials and online demo support, accessible through the streamlined GMAP Reseller Portal where businesses can also easily manage supply chain and customer accounts.
Tom Maguire, Co-Founder, COO and CMO of SensLynx said, “We’ve worked hard to create a superior, all-encompassing, yet simple program that will ensure our resellers see measurable results in record time with dedicated support from us.”
GPS Tracking makes customer fleets, assets and personnel safer and more productive while reducing operating costs and increasing profitability overall. The SensLynx GPS Tracking Solution delivers everything and then some. And the low expenditure, high return GMAP program allows sales professionals to become successful proprietors in an emerging industry rather than employees and augments existing businesses with a leading-edge technology. The future of IoT Fleet Management is very bright.
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Aug 01, 2018 • Features • Advanced Services Group • Alfa Laval • Future of FIeld Service • field service • Servitization • Servitization Conference • Through life Engineering • Ulrika Lindberg • Servitization and Advanced Services
Kris Oldland, Editor-in-Chief, Field Service News talks to Ulrika Lindberg, Vice President, Global Service at Alfa Laval AB following on from her keynote presentation at the Spring Servitization Conference, about why having a customer-centric...
Kris Oldland, Editor-in-Chief, Field Service News talks to Ulrika Lindberg, Vice President, Global Service at Alfa Laval AB following on from her keynote presentation at the Spring Servitization Conference, about why having a customer-centric strategy is key to developing advanced services...
One thing stood out very clearly when Ulrika Lindberg, Vice President, Global Service at Alfa Laval AB posted up her organisations mission statement during her presentation at the Spring Servitization Conference, hosted by Copenhagen Business School and the Advanced Services Group, part of Aston University in the UK, that was that even within this small, yet carefully crafted sentence which captures Alfa Laval's corporate identity, it is clear the value they place on their customers.
On the surface, it certainly seemed indicative of an organisation that already had a clear Outside-In philosophy with regards to how they view their relationship with their customers.
Against a backdrop of a conference where advanced services are the sole talking point, I was keen to see just how important Lindberg and her colleagues at Alfa Laval believe such a mindset is when seeking to establish service as a core strategy within an organisation.
“How important is it? Well it’s in our DNA,” begins Lindberg.
"Whilst we have a wide range of products, we have an even wider range of industries that we serve and we would never be able to do that successfully unless we understood our customers’ needs..."
“Part of the reason why that is, is because whilst we have a wide range of products, we have an even wider range of industries that we serve and we would never be able to do that successfully unless we understood our customers’ needs within their industry.”
“We need to understand how our products can benefit an industry and our customers’ within that industry - and if we don’t have that understanding then we wouldn’t be successful. That is how our whole company has grown, by actually finding where our products could benefit certain industries and how.”
“Some of our products, although customised are not that unique, but one of the things we’ve been able to be successful at is tailoring those to a certain customer or a certain industry.”
It is this industry knowledge, largely fed by a desire to get close to their customers and understand the challenges that they face that has become an intrinsic part of how Alfa Laval approach growth and development - and this is something that ultimately builds upon itself over time.
“The more critical it becomes for us to understand the needs of the sector, the bigger the industry becomes to us and then the further knowledge and insights we develop - which embeds us even further into the industry and into our customer’s processes,” Lindberg explains.
Of course, operating across such a wide array of vertical sectors means that Alfa Laval have to establish a flexible approach to their service offerings as what is good for the goose is not always good for the gander. This is something that becomes particularly prescient when we look at servitization.
One of the big discussions across the conference and beyond is whether there is a need for either a customer pull or a market in decline and in need of disruption for a company to successfully introduce advanced services.
We all see that data is going to be hugely important in the future and we need to build our services around that but I think that we have a lot of work to do to build on that“I’m not sure,” Lindberg responds, giving the question consideration when I put it to her.
“I think certain industries are more advanced and it is easier in those. Equally some geographies are more advanced and it is easier there also. Personally, I would say the geography dimension might influence more whether a company is able to introduce advanced services.”
"I think across the globe, in terms of data and analysing data, there is a big interest but I still think we are just seeing the tip of the iceberg in terms of the complexity this is going to drive in terms of who is going to look at the data and what kind of advice are they going to be delivering?"
"If we look at predictive maintenance who is going to be calling the customer and saying the service is required? If we need to go in and stop the machine what power do we have to do this in a critical environment for the customers where that maintenance might have significant consequences for the customer.”
“I think we all see that data is going to be hugely important in the future and we need to build our services around that but I think that we have a lot of work to do to build on that. The appetite for this is big all around the globe, but the most critical question is 'are we ready?' That is the question I would suggest most companies need to be asking themselves.”
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Jul 31, 2018 • News • AR • Augmented Reality • Future of FIeld Service • Michael Leyva • Moverio • Brian Ballard • Epson • field service • Smart Glasses • Upskill
Epson, providers of the Moverio® augmented reality (AR) smart glasses platform, today announced both the availability of the new Moverio BT-350 ANSI Edition smart glasses and the release of the Upskill® Skylight® AR platform on Moverio...
Epson, providers of the Moverio® augmented reality (AR) smart glasses platform, today announced both the availability of the new Moverio BT-350 ANSI Edition smart glasses and the release of the Upskill® Skylight® AR platform on Moverio...
The availability of Upskill’s award-winning software with the new BT-350 ANSI Edition allows the Moverio platform to be used in a variety of commercial environments, with the goal of driving greater worldwide adoption of the technology.
Skylight, Upskill’s AR software platform interface allows hands-on workers to get the job done faster and more accurately by connecting them to the people, information and equipment they need while remaining hands-free to focus on their tasks and their tools.
“Epson was one of the first companies to see the value of smart glasses in the enterprise and their Moverio hardware is an established, trusted name in the market,” said Brian Ballard, CEO and co-founder, Upskill. “By offering the Skylight platform on the Moverio BT-350 ANSI Edition smart glasses, we add increased choice for our customers looking to adopt high quality, industrial-grade AR devices to their operations to drive significant performance improvements across their workforce.”
We’re confident that addressing this workplace safety requirement and collaborating with Upskill, will enable enterprises to accelerate smart glasses adoption across the workforceDesigned to be worn in environments that require safety glasses, the new Moverio BT-350 ANSI model includes indoor and outdoor safety shields that meet ANSI Z87.1 safety certification requirements. Featuring a flexible and durable hinge-based headset, the Moverio BT-350 ANSI smart glasses can be worn comfortably on a wide range of head sizes.
Upskill has received numerous awards for Skylight, including recognition as a World Economic Forum Technology Pioneer, Gartner Cool Vendor, Hannover Messe Hermes Award Finalist, and most recently, Augmented World Expo’s “AR Best in Show,” to name a few. On average, customers using Skylight on smart glasses see a 32 per cent performance improvement in use cases that span manufacturing, logistics and field services. Skylight on the Moverio BT350 ANSI Edition creates a smart-safety glass solution for use anywhere eye protection is required for a safe working environment.
“Since Epson launched its first iteration of the Moverio smart glasses seven years ago, we have been diligently working to enhance the technology to meet the demands of end-users, including the need for an ANSI edition of the Moverio glasses,” said Michael Leyva, product manager, augmented reality solutions, Epson. “We’re confident that addressing this workplace safety requirement and collaborating with Upskill, will enable enterprises to accelerate smart glasses adoption across the workforce.”
Support and Availability The new Moverio BT-350 ANSI smart glasses will be available in July 2018 for $1,199 (USD) through authorized Epson resellers and Epson.com. For additional information on the Moverio BT-350 ANSI Glasses please visit fs-ne.ws/GNQh30l7Eh1
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Jul 31, 2018 • Features • Hardware • Mobility solutions • Xplore • Bob Ashenbrenner • Cliff Adams • field service • field service management • Rugged Computing • Rugged Handhelds • Rugged laptops • rugged tablet • Service Management • Steve Priestly
In this excerpt from a recent Field Service News webcast sponsored by rugged computing specialist Xplore Technologies FSN Editor-in-Chief, Kris Oldland is joined by Steve Priestly and Cliff Adams of Xplore and Bob Ashenbrenner of Durable Mobility...
In this excerpt from a recent Field Service News webcast sponsored by rugged computing specialist Xplore Technologies FSN Editor-in-Chief, Kris Oldland is joined by Steve Priestly and Cliff Adams of Xplore and Bob Ashenbrenner of Durable Mobility Technologies as they discuss some of the key questions around device choices field service organisations should be making including asking whether the lines between rugged and consumer are blurring, how to decide which form factor is right for your service technicians and just how often should field service companies be seeking to update the devices that they have deployed within the field.
Want to know more?
The full webcast is available to fieldservicenews.com subscribers and if you are a field service industry practitioner you may qualify for a complimentary industry subscription.
Visit fieldservicenews.com/subscribe to apply now!
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Jul 30, 2018 • News • 4G • 4GLTE • 5G • Future of FIeld Service • mobile computing • mobile internet • Verizon • Yossi Cohen • Ed Chan • Ericsson • field service • field service management • Service Management
With mobile computing and field service operations now becoming inextribably linked many field service organisations will benefit greatly from the full 4G coverage and in the not so distant future 5G could possibly make interactions between the...
With mobile computing and field service operations now becoming inextribably linked many field service organisations will benefit greatly from the full 4G coverage and in the not so distant future 5G could possibly make interactions between the field and the back office lightning fast and seamless. It will, therefore, be of interest to US field service organisations that Ericsson announced last week that the company has increased its U.S. footprint by expanding its 4G partnership with Verizon to include new markets.
This extended partnership includes Ericsson Radio System 4G LTE equipment which, in addition to enabling the latest advances in 4G LTE capabilities, will provide a 5G-ready platform that will allow Verizon to rapidly transition sites to 5G when they deploy the service in those markets.
The new markets will be deployed using Ericsson’s latest baseband and dual-band radios, an optimized solution for widescale high-capacity deployment. The solution will be software upgradeable to 5G and will deliver CAT-M and NB-IoT for Massive Internet of Things use cases, as well as industry-leading network capacity.
Verizon and Ericsson have partnered closely to drive the evolution of LTE by using LTE-Advanced features, enhancing capacity and speed on the Verizon 4G LTE network. In 2017, Verizon and Ericsson used these latest technologies to hit several industry milestones, including:
- Achieved 953 Mbps by combining licensed and unlicensed bands with four-carrier aggregation, 4x4 MIMO and 256 QAM in a real-world network environment in Florida
- Exceeded 1 Gbps speeds on the Verizon 4G LTE network using three-carrier aggregation
Verizon and Ericsson reached another milestone in 4G LTE-Advanced technologies that will serve as a stepping stone to 5G by completing their first deployment of FDD (Frequency Division Duplexing) Massive MIMO (Multiple Input – Multiple Output) on Verizon’s wireless network in Irvine, CA.
Ed Chan, Senior Vice President of Technology, Strategy, and Planning, Verizon, says: “We continue to be committed to bringing the best network to Verizon customers. Working with Ericsson allows us to deploy the latest technologies on our 4G LTE-Advanced network will be an important component of our rapid transition to 5G.”
This 4G LTE deployment will improve both spectral and energy efficiency, increasing network capacity for current devices in the market.Yossi Cohen, Head of Customer Unit Verizon, Ericsson North America, says: “We continue to work closely with Verizon to expand the strategic partnership between our companies, enabling Verizon to unleash the latest in 4G technology and simultaneously prepare to launch 5G in these new markets.”
This 4G LTE deployment will improve both spectral and energy efficiency, increasing network capacity for current devices in the market. Further enhancements are expected as the 5G ecosystem evolves. For customers, the result will be faster speeds for using apps and uploading and downloading files.
To prepare for 5G, Ericsson has released its first commercial 5G RAN software, allowing operators to turn on 5G in commercial networks when ready. In addition, the installed base of Ericsson Radio System radios from 2015 onwards can run 5G NR technology with a simple remote software installation.
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Jul 30, 2018 • Features • Management • Marianne Kjeldgaard Knudsen • field service • field service management • Field Service Service Management • Grundfos A/S • Service Management • Thomas Rosenkilde Anderson
Grundfos is a well-established company with a 180-year heritage and some active assets in the field over 30 years old still requiring maintenance, at this year’s Spring Servitization Conference they outlined why they see advanced services at the...
Grundfos is a well-established company with a 180-year heritage and some active assets in the field over 30 years old still requiring maintenance, at this year’s Spring Servitization Conference they outlined why they see advanced services at the heart of their future...
Grundfos is an organisation with a long, proud and traditional history, yet at this year’s Spring Servitization Conference in Copenhagen, it was their vision of a brave new world, a world in which advanced services sit at the heart of their offering that was the focus of their presentation.
Thomas Rosenkilde Anderson, Group Vice President for Services at Grundfos A/S outlined the thinking behind the Danish Pump Manufacturers shift towards a servitized business alongside his colleague Marianne Kjeldgaard Knudsen, Senior Director, Head of Digital Commercial Offerings at Grundfos A/S.
“Service has already been embedded into the way we serve our customers,” Anderson begins as we sit down after his presentation and he gives me the opportunity to dig a little deeper into the conversation.
When we took the strategic decision from an executive level that now is the time to create a service business unit,“Previously, service was basically just a support function for our sales. It was also something that had evolved differently in each country we operate in. Sometimes it was well structured, sometimes it was very unstructured. So when we took the strategic decision from an executive level that now is the time to create a service business unit, it required a hell of a lot of planning and exercising on how to actually do it.”
“We actually held workshops across all countries across the globe in less than three months. We would be sitting together with the local country manager and their leadership teams and asking ‘how do you approach services here’, ‘who is doing service here?’”
“Then name by name, we went through the personnel undertaking any service work and identified those that were doing 50% of their role in a service capacity as someone who should become part of the service business unit. If they did less than 50% then they should stay where they are - and we did this all around the globe.”
“This was the first time that we really knew exactly how many service people we actually had. This was critical as when I first started I wanted to know what was our service business - how many people did we have and what was our profit margin, but we didn’t have easy access to those questions.”
It is interesting to note that at this point the service business was operated as a cost centre and it was Anderson’s drive to move the service operations to becoming a profit centre that demanded that such lack of visibility be overcome. However, moving to a profit centre was just part of the reasoning behind undertaking such a significant task as bringing transparency across the service operations globally for Grundfos.
However, one thing that Anderson stressed very clearly in his presentation was that such a significant shift in focus within an organisation is not possible overnight. It is a long iterative process - in his presentation, Anderson outlined Grundfos’ own roadmap which stretches across ten years.
Yet, when Anderson first arrived having transitioned from the high-tech sector, this was not necessarily the case.
We were selling basic service contracts in 15 different ways across 60 different locations across the globe, so there were a lot of basics such as tools and processes that we needed to fix first“Coming from a high-tech background I was used to working at a much faster pace, so such introducing change over such a long period wasn’t the original plan,” he explains.
“However, I realised that here the starting point was a bit more unstable, we were selling basic service contracts in 15 different ways across 60 different locations across the globe, so there were a lot of basics such as tools and processes that we needed to fix first. If we had tried to do everything at once and bring very advanced services to the market in one go there would have been chaos”
“In short, we needed to build a solid foundation before we could move forwards further and that takes time,” he adds.
The next phase of this development Anderson explains is to build financial transparency.
“We need to get a firm understanding and have total transparency on what is the cost of service, what revenue are we currently making from services? Then we can have a firm grasp of how service is impacting on our bottom line,” Anderson continued.
“Once this is all in place then we can start the big task of really fully developing our service portfolio and of course building out our tools, processes and customer support and getting that standardised across the globe.
“Then, of course, there is the consideration around the people part of this equation. Service businesses are people businesses. We need to make sure we take care of our people and that we attract the best people - so a lot of our investments are going into leadership positions.”
“We are looking at leadership development, financial training for those that will have commercial responsibilities and technical training for those who are focussed in that part of the sphere.”
What is clear is that whilst the end goal of a servitized business promises great opportunities the road to that goal is long and complex.
However, Anderson and his colleagues have a very thorough and well-defined roadmap to guide them on their way - something that it is essential for any company looking to follow in their path develop for themselves before they start the journey themselves.
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Jul 27, 2018 • News • Max Paltsev • Mergers and Acquisitions • field service • field service management • Five Elms Capita • Service Fusion • Service Management • Software and Apps • software and apps
Service Fusion, a field service management software provider helping small and mid-sized field service companies streamline their businesses and increase customer satisfaction, has announced a $10M Series A investment from leading B2B software...
Service Fusion, a field service management software provider helping small and mid-sized field service companies streamline their businesses and increase customer satisfaction, has announced a $10M Series A investment from leading B2B software investor Five Elms Capital.
The financing will be used to fuel growth and accelerate the release of new functionality for its customer base of over 2,000 service contractors.
"We are thrilled to bring in a partner with so much experience in the B2B software space," said Max Paltsev, CEO of Service Fusion.
"Nearly 70% of service contractors don't use a specialized software to manage their business. This results in higher operating costs and missed opportunities to delight customers, and we are changing that with our software."
Nearly 70% of service contractors don't use a specialized software to manage their business. This results in higher operating costs and missed opportunities..."We are beyond excited to partner with Max and the team at Service Fusion," said Ryan Mandl, Partner at Five Elms Capital. "We believe the field service industry is in the early innings of a multi-decade shift to utilizing modern software solutions to more effectively manage operations and provide a better customer experience. Service Fusion has developed an industry-leading product and reputation for serving the needs of its customer base really well, both of which we plan to build on as we work together to fuel the company's next phase of growth."
Service Fusion's rapid growth will create a significant number of new jobs in the North Texas area as the company expands its engineering, customer support, and sales operations at its headquarters just outside of Dallas. "As one of the fastest growing technology companies in Texas, we are extremely excited to be able to create more career opportunities in this region," said Paltsev. "This investment will allow us to better serve our customers' needs by adding top-notch talent to every team at Service Fusion."
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