OverIT announced that, starting from October, the company will be spun off from the Engineering Group becoming an independent entity controlled by Bain Capital and Neuberger Berman.
ARCHIVE FOR THE ‘leadership-and-strategy’ CATEGORY
Sep 23, 2021 • News • Artificial intelligence • Augmented Reality • CEO • OverIT • Leadership and Strategy • EMEA
OverIT announced that, starting from October, the company will be spun off from the Engineering Group becoming an independent entity controlled by Bain Capital and Neuberger Berman.
In addition, Paolo Bergamo has been appointed as Chairman and Chief Executive Officer of OverIT. Prior to joining OverIT, Bergamo was Senior Vice President Product Management at Salesforce in San Francisco, California.
In his new role, Bergamo will lead OverIT's global team, growth strategy and vision.
Bergamo has a deep knowledge of Field Service Management, with over two decades of proven global experience in the software sector. Given his track record, Bergamo is ideally placed to lead OverIT in its next phase of growth as innovator and visionary.
"The spin-off is the result of a strategic partnership between Neuberger Berman and Bain Capital, that has the goal to accelerate OverIT's internationalisation and build the global Field Service Management software leader through increased investments" said Piero Galli from Neuberger Berman.
"When searching for a new CEO to lead OverIT growth journey and reach the ambitious goals we set, we wanted someone who deeply understood not only the industry OverIT operates in, but also the ambition of our funds and the culture of a global company. Paolo has proven leadership capabilities and a track record of scaling technology businesses; we are pleased to have him join to lead the company in the next phase of growth" said Giovanni Camera from Bain Capital.
"I'm thrilled to join OverIT at such an exciting period" said Bergamo, "When Bain Capital and Neuberger Berman proposed to me the ambitious project to bring OverIT, one of the flagships of Made in Italy technology, to the forefront internationally, I felt I couldn't miss this great opportunity. I have the ambition to make OverIT an international hub for young technology talent to grow and unleash their potential".
OverIT, backed by US capital with development headquarters in Italy and main US office in Miami, is a multinational company with more than 20 years of international and cross-industry experience in Field Service Management. The firm is recognized by premier global advisory and consulting organizations as a leading vendor in FSM, Mobile Workforce Management and AR industries. providing more than 300 international customers and 150,000 Field Service users with process knowledge, innovative functionalities and cutting-edge technologies.
Bain Capital, LP is one of the world's leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we've applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,200 employees and approximately $140 billion in assets under management. To learn more, visit www.baincapital.com.
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate, and hedge funds—on behalf of institutions, advisors, and individual investors globally. The firm manages $433 billion in client assets as of June 30, 2021. NB Renaissance supports ambitious entrepreneurs and management teams with a goal to create market leading businesses. Part of Neuberger Berman since 2015, today NB Renaissance manages €2.0 billion of commitments from a pool of high-quality Italian and international investors. NB Renaissance is currently invested in 12 companies, which include some of the excellence of the Italian corporates. NB Renaissance can count on a team of 20 private equity professionals of Neuberger Berman in Italy, supported by the broader Neuberger Berman private equity platform of 245+ professionals.
Further Reading:
- Learn more about OverIT @ www.overit.it
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Read more about OverIT on Field Service News @ www.fieldservicenews.com/overIT
- Read more about AR on Field Service News @ www.fieldservicenews.com/augmented-reality
- Learn more about Bain Capital @ www.baincapital.com
- Find out more about Neuberger Berman @ www.nb.com
- Follow OverIT on Twitter @ twitter.com/OverITSpA
Sep 02, 2021 • Features • Data • field service • Leadership and Strategy • Sam Klaidman
In this new article for Field Service News, Sam Klaidman, Founder and Principal Adviser at Middlesex Consulting, discusses the service leaders' journey to achieve their desired outcomes.
In this new article for Field Service News, Sam Klaidman, Founder and Principal Adviser at Middlesex Consulting, discusses the service leaders' journey to achieve their desired outcomes.
Here is an interesting conversation from Lewis Carroll’s Alice’s Adventure in Wonderland:
‘Would you tell me, please, which way I ought to go from here?’ [asked Alice.]
‘That depends a good deal on where you want to get to,’ said the [Chesire] Cat.
‘I don’t much care where—’ said Alice.
‘Then it doesn’t matter which way you go,’ said the Cat.
‘—so long as I get somewhere,’ Alice added as an explanation.
‘Oh, you’re sure to do that,’ said the Cat, ‘if you only walk long enough.’
Fortunately, service leaders know exactly where they want to go. They want to achieve the business objectives they signed up for in the strategic plan or in their individual goals and objectives (which are used to calculate their annual bonus.) Unfortunately, many of these leaders are missing a terrific opportunity to win their own version of the Euro Cup because they are not using all the tools available to them.
DRIP
Service businesses are buried in data. They get operational data from their products in the field, the people in the call centers, service managers, logistics people, and their peers in Finance, Marketing, Sales, Customer Success, and anyone else with an opinion. But what they are missing is insight – actually actionable insight. I call this condition DRIP:
Data Rich Insight Poor
Here is an example:
Most Field Service organizations survey their customers and measure one or more metrics they then use as key performance indicators (KPIs). The three most popular KPIs are:
- Net Promoter Score (NPS)
- Customer Satisfaction (CSAT)
- Customer Effort Score (CES)
You collect data about each customer and lump it all together to arrive at a single KPI number. Unfortunately, using any of these KPIs will not guide you to the actions you need to take to achieve your desired business outcomes like growing revenue, increasing employee satisfaction, and improving productivity. To get down to these actions, you must link individual data to actual actions taken by the customer to 1) find out what customers really did and how they responded to your survey and 2) go back and find out specifically what you have to correct to achieve a better outcome for your business.
The solution to the DRIP problem is to take your team on this journey:
There are not enough people doing this detail work, what one of my friends calls working in the weeds. So, let’s look at how NPS is generally used to see what you don’t want to continue doing.
Net Promoter Score
Net Promoter Score (NPS) first saw the light of day in 2001 when it was marketed as “The One Number You Need to Grow.” Today it is used in many businesses of all size and all industries. Also, it is used by many field service organizations. Interestingly, the NPS system has an enormous number of critics who think the whole thing is BS. However, there are real world examples that also support the validity of the system.
Let’s look at an example of where NPS and a high-level analysis yields some data that makes the analyst and their company feel like they are actually accomplishing something important. But they are not increasing desired outcomes.
A Quick Review of NPS
The interested party asks their customers the following question:
“Based on XXX, how likely are you to recommend us to a friend or associate?”
They use an 11-point scale where 11 is definitely likely, 5 is neutral, and 0 is definitely unlikely. The results are then grouped as follows:
The 2 green scores are promoters, the 2 yellow are passives, and the 7 reds are detractors. The NPS score is the percent promoters minus the percent detractors so the score can be anywhere from +100% to -100%.
Some Data
Here is a chart produced by Bain & Company, the originator of the NPS system.
In this example, the surveyors are not worried about the NPS score: they want to understand how customer’s feelings correlate with their buying intentions. In this case, the promoters appear to be about 90-95% likely to consider their current manufacturer, the passives 75-80% likely to consider the incumbent, and the detractors only 40-45% likely to consider their current supplier.
Since the surveyors know the score each individual submitted, they can create unique programs to follow up with their customers in individual segments, or even sub-segments, to identify the reasons behind their feelings and then either correct any issues and/or offer compensation if their issue is beyond their control or unresolvable. Of course, in parallel, they must look at their internal procedures and policies to prevent alienating other customers.
But this is about intent. One of my all-time favorite business books is “Five Frogs on A Log” by Mark L. Feldman and Michael F. Spratt. The book is about mergers and acquisitions and is scary. The title comes from a child’s riddle:
Five frogs are sitting on a log.
Four decide to jump off.
How many are left?
Answer: Five.
Why?
Because deciding and doing are not the same things.
This is important because we don’t care what people say they will do; we care about what they do! A customer who says she will be back to you tomorrow with a purchase order is worthless until the P.O. is actually received and booked.
With respect to the Bain & Company data, I think it would be much more useful if the question were reworded to “Based on XXX, how likely are you to lease or purchase your next vehicle from our brand (or maybe from our dealership)?” After all, your business objective is to sell or lease vehicles, not get referrals. Then the surveyor could track each respondent and find out the percent at each response level, e.g., 0, 1, 2… who leased or purchased a car from them. It might take one or two years to understand the value of increasing the percent of promoters by one point, but at least they would be able to move ahead with their CX program based on actual data.
Another Example but About Service Parts Usage, not NPS
Data - Your business is the Field Service arm of a hardware product OEM. And, unfortunately, you consume a large amount of parts every month. To find out what is going wrong, you have your parts manager prepare a report of actual total usage by part number and another report breaking out the same data but by type of transaction; i.e., installation. warranty, billable, and service contract. You quickly notice that one expensive part is the most used part during warranty.
Insight - If you are only concerned about minimizing your customer’s downtime, you would increase stock levels. But if your desired outcome is to increase company profit and CSAT levels, you would make sure that each defective part is returned for failure analysis.
Action – The failure analysts would share the FA results and the total cost of each field repair with both Engineering and Manufacturing. Most likely, the results would be either a part redesign or modification plus a change in manufacturing process
Outcome - When this is done, you might find it relatively inexpensive to swap out the old design whenever you have a field engineer on-site with access to the equipment. And obviously you would pull all the old parts from stock and replace them with the new design. Your overall cost savings is your desired outcome.
Conclusion
Without linking your data to your desired outcomes, you are basically looking at a gratification metric. It makes you feel good, but it doesn’t get you any closer to where you have to get.
Note: Net Promoter, Net Promoter Score, and NPS are registered trademarks of Bain & Company, Inc., Fred Reichheld, and Satmetrix Systems, Inc.
Further Reading:
- Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Read more exclusive FSN articles by Sam Klaidman @ www.fieldservicenews.com/sam-klaidman
- Find out more about Middlesex Consulting @ www.middlesexconsulting.com
- Read more articles by Sam Klaidman on Middlesex Consulting Blog @ middlesexconsulting.com/blog
- Connect with Sam Klaidman @ www.linkedin.com/samklaidman
Aug 25, 2021 • Features • Coen Jeukens • servicemax • Leadership and Strategy • GLOBAL
In this new article for Field Service News, Coen Jeukens, VP of global customer transformation at ServiceMax, explains how to create a custom fitness plan to keep your assets in shape...
In this new article for Field Service News, Coen Jeukens, VP of global customer transformation at ServiceMax, explains how to create a custom fitness plan to keep your assets in shape...
Do you have this feeling that the battery of your phone drains faster and faster? Internet forums are full of testimonials and resolutions for keeping your battery in tip-top shape. How does this apply to B2B products, equipment and assets? Can asset owners monitor the performance of the equipment, and what handles do they have to maintain output/ outcome at the nominal level promised at point of sale?
For many years I’ve captured the digital and service transformation journey in a single tagline: “from fixing what breaks to knowing what works.” The message is driven by a simple principle: customers expect things to work. Even more, they expect the outcome of the asset to be stable over the lifecycle.
Another simple truth is that everything eventually deteriorates and breaks. This prompts the following questions:
- What is the life expectancy of the asset?
- What do I need to do to keep the asset in shape?
- What can I do to extend the life cycle of the asset?
Building a Fitness Plan
Preventive maintenance might be the first thing that comes to mind as the way to keep your assets in shape. But what does preventive maintenance (PM) prevent? And how does it affect asset performance and life expectancy? This was a tough question to answer when one of my counterparts in procurement, who was looking to reduce the selling price of a service contract, asked me, “What will happen when we reduce the PM effort by lengthening the interval?” This was even more difficult to answer when it became a numbers game, and the purchaser asked me to prove the offset between PM and break-fix.
So where do we look next? I propose condition-based maintenance.
We know that the performance of an asset will deteriorate over time, and we know the rate of deterioration will depend on various attributes like aging and usage. Because these attributes are measurable, we can use them as levels to trigger a service intervention.
So rather than taking a one-size-fits-all approach based on time intervals, you can create a custom fitness plan for keeping your assets in shape. One that looks at the condition of the asset in relation to its expected performance. This can look like an intervention being triggered when the output of an asset or the viscosity of a lubricant drops below a certain threshold.
To continue with the fitness metaphor, we often don’t just want to stay in shape—we also want to increase our longevity and even get in better shape as we age. When it comes to your assets, this is where mid-life upgrades, booster-packs and engineering changes come into play. And in the same way that you use predefined levers to trigger service interventions, you should use these levers to trigger updates, upgrades and lifecycle extensions.
Both of these service strategies use asset health at the core of your service delivery model, steering you away from ‘fixing what breaks’ and towards ‘knowing what works.’
A Real Life Example
Imagine you have a pump and valve combination that has a nominal capacity of 140 m3/h.
If you used a preventive maintenance model that runs every 6 months, it would not take into account the age of the pump and valve combination, nor would it account for the corrosiveness of the transported materials.
But if you took a condition-based approach using IoT-connected sensors, you could measure attributes like vibration, temperature, and energy consumption and use them as indicators for asset performance. For example, if the capacity drops below 130 m3/h, a service intervention would be triggered. It’s like the pump saying: “I’m not feeling well, I need medicine.” On top of this, if you detect the pump is consistently pushed beyond original specifications, you can know that it’s necessary to initiate an upgrade conversation to safeguard asset health and durability
Asset Centricity
The common theme of these service strategies is asset centricity. It’s about putting asset health at the core of your service delivery model and continuously comparing an asset’s current output with its expected performance.
By looking at current performance, expected performance and demand, you can also advise your customers on when it’s time to downgrade or upgrade the asset. Through this asset-centric lens, you can truly become a fitness coach, advising your customers on the right fitness program that will keep their assets in tip-top shape.
Learn more about IoT and condition-based maintenance here.
Further Reading:
- Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Read news and articles about ServiceMax @ www.fieldservicenews.com/servicemax
- Read more articles by Coen Jeukens on Field Service News @ www.fieldservicenews.com/coen-jeukens
- Find out more about ServiceMax @ www.servicemax.com/uk
- Follow ServiceMax on Twitter @ twitter.com/ServiceMax
Aug 24, 2021 • Features • Coen Jeukens • servicemax • Leadership and Strategy • GLOBAL
In this new article, we look with SimPRO at how field service organisations can consolidate and fully integrate new technologies within their existing technology ecosystem...
In this new article, we look with SimPRO at how field service organisations can consolidate and fully integrate new technologies within their existing technology ecosystem...
What's in your current tech stack?
Over the past 10 years the field service industry has seen a boom in technologies aimed at streamlining daily operations. Adopting new pieces of software has since become key to running a large and successful field service business and solving everyday problems in the office and the field. Office managers and admin teams use accounting software to invoice and track cash flow, stock management software to oversee stock levels and order job-specific materials, and mobile apps to schedule field staff and communicate job-specific information. On top of this, teams in the field are utilising technology to help cost and quote jobs, submit health and safety compliance, communicate effectively with customers using email and SMS automation, and much more. As new technologies have gradually been adopted however, many businesses are noting a common issue: The different pieces of software in their tech stack do not integrate with one another, resulting in too much time spent on double data entry and a lack of reporting capabilities. If this sounds familiar, it may be time to update your tech stack to ensure all the software and apps your business is using integrate with one another.
What should you look for when identifying the best tech stack for your field service business
Is it cloud-based?
Does it integrate with your accounting partner?
This one is a deal-breaker. If the tech you’re using to track timesheets and travel times, manage stock levels, raise POs and quote jobs does not integrate with your accounting software how will you ensure your invoicing is accurate and you’re reporting on all accrued costs?
Does it integrate with your key suppliers?
Managing stock levels and ordering job-specific materials requires time and resources. When it comes to choosing a piece of software to streamline the process it’s advisable to choose one that both allows you to order stock as part of a specific job and syncs with your key suppliers catalogues. This integration with key suppliers not only saves time, but will ensure you have up-to-date pricing for more accurate estimating.
Does the mobile app act as more than a timesheet?
For bigger businesses in particular, having your field staff head into the office daily to collect and submit paperwork wastes precious time. To ensure field staff are maximising their billable hours businesses need to choose the best mobile app for their workflow. When picking a mobile app it is important that it can assist with the scheduling and dispatching of field staff, as well as tracking their progress in the field. But more than that, it’s key to choose an app that acts as a medium for field staff to upload job notes and photos, submit compliance forms and quote from the field.
Are you able to automate your customer communications?
In order to automate customer communications your SMS or automated email service needs to be able to pull data from both your scheduling system (to update customers about your expected arrival times), and your accounting system (to send and chase up unpaid invoices). If these systems don’t integrate with one another this could lead to wasted time spent on double data entry.
Can you report on productivity and profitability?
As well as the additional administrative time caused by non-integrated technologies, another limitation you may encounter is the shortfall in your reporting abilities. By ensuring all the technologies you’re using talk to one another you’re also ensuring you can report on all aspects of your business in real-time. This is invaluable as reporting not only allows you to track the productivity and profitability of jobs, but also enables you to highlight areas of improvement and potential cost savings.
It is safe to say that more and more technologies will continue to emerge in the field service industry. When it comes to assessing whether your business needs to add these to your tech stack however, the most important thing to consider is whether it fully integrates with your entire technology ecosystem. Only when your tech stack is integrated will you reach peak efficiency, grow your business and grow your profits.
Streamline your tech stack with cloud-based job management software, simPRO. This end-to-end system provides solutions for every field service workflow, including service, project and maintenance jobs, and integrates with key accounting software and suppliers.
simPRO can help businesses of all sizes streamline their processes and increase visibility, ultimately increasing profitability. Interested in aligning your tech stack with simPRO?
Further Reading:
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Read news and articles about SimPRO @ www.fieldservicenews.com/simPRO
- Learn more about how SimPRO can help field services organisations @ www.fieldservicenews.com/all-about-simpro
- Find out more about simPRO @ www.simprogroup.com
- Follow SimPRO on Twitter @ twitter.com/simprosoftware
Aug 16, 2021 • Features • Dave Yarnold • Scott berg • servicemax • Leadership and Strategy • Neil Barua
Having recently caught up with ServiceMax CEO, Neil Barua, Field Service News Editor-in-Chief, Kris Oldland realised just how unusual the story of ServiceMax is amongst tech companies. It is a story of twists and turns and now that Barua is driving...
Having recently caught up with ServiceMax CEO, Neil Barua, Field Service News Editor-in-Chief, Kris Oldland realised just how unusual the story of ServiceMax is amongst tech companies. It is a story of twists and turns and now that Barua is driving forward his own chapter in that story, Oldland felt it was an appropriate time to recount the epic tale of the start-up that changed the industry before becoming worth almost a Billion Dollars and ask Barua where the next chapter is going to be set in these most disrupted of times...
Most tech companies have a decent origin story.
Indeed, many could (and often have been) the subject of an entire book of their own. However, not many companies have the oh so many twists and turns that ServiceMax has had. The life story for most companies within the small $25Bn corner of the enterprise tech world that we in the field service sector call home is mostly Mills and Boon. A brief account of love that ends in the protagonist being whisked away to a quieter life far away from the frantic frontier world of innovation.
The tale of ServiceMax, at least to my mind, is more akin to the great epics, with a far less linear but ultimately more fulfilling story to be told, and like most great epics, it is a story that spans more than one volume.
Maybe it is simply because I have been personally close to the story from near the very start that I see it in this way - although I personally don’t think it is just that. I’ve been there at the birth of several companies within our sector. I’ve watched them flourish and then watched them fade back into the general noise of the industry as the cycle of innovation and acquisition, acquisition and innovation rumble ever onwards.
Such companies, the Coresystems’, the TOA’s and the FieldOne’s, all had their stories. They all had their heroes, and they all had their moments in the sun. Yet, there was a sense of inevitability when it came to the final chapter. Slowly, inevitably, they became assimilated into the corporate colours of the respective industry giants that acquired them along the way. There is no shame in that. Indeed, it is the way these things are generally done; ultimately, the innovators almost always end up becoming a footnote in someone else’s story.
"From these humble origins, which can be traced back to a two-week project Athani and Hari initially built for a client under the moniker of Maxplore, ServiceMax quickly rose from start-up to genuine market leader in record time..."
And this is what makes the ServiceMax story so intriguing.
Despite being the biggest prize of them all, despite hitting the headlines across the global technology press when GE acquired them for close to a Billion dollars, simultaneously shining a spotlight onto our sector like never before, the GE chapter remains a footnote in the ServiceMax saga and not the other way around.
As I say, I’ve been privileged to have a front-row seat for almost a decade in the ServiceMax journey. For me, as an outside observer watching the company move through its various evolutions, there are three very distinct personas of a company that has dominated our industry headlines for that same period.
Firstly, there was the brash, brightly coloured ServiceMax, all bold colours, orange lettering against a big blue cloud if I recall. Built on the Salesforce platform but identifying a gap in the market and meeting it long before the rest of the world had begun to catch up. This first iteration was the story of the plucky start-up rising to become the industry titan. It was a true story of disruption and vision.
It was only over the year’s as I got to know then CEO Dave Yarnold better that I realised just how humble the origins had been for the company. I remember Yarnold recalling one story about their rented office in a tucked-away corner of Silicon Valley lovingly nicknamed the beige palace and having to head over to Best-Buy to pick up a TV so he and founders Hari (Subramanian) and Athani (Krishna) could give a presentation to their first-ever prospect.
Yet, from these humble origins, which can be traced back to a two-week project Athani and Hari initially built for a client under the moniker of Maxplore, ServiceMax quickly rose from start-up to genuine market leader in record time.
“We looked at what everybody was doing around service and we thought everyone was missing the point,” Yarnold explained in an interview with me back in late 2016. It was this confidence that they had found a missing piece of the puzzle that oozed throughout the business. The best way to describe how ServiceMax operated in this period was with the confident swagger of a youthful start-up that knew they were destined for the stars.
Of course, the rise was meteoric. By the time they had reached the top of the FSM tree, the value of that success was the acquisition of ServiceMax by GE for an eye-watering $915 Million. While rumours of various potential suitors to acquire the Pleasanton based company had been circulating for some time, this was an acquisition from the left-field not only regarding the price tag but also, who was paying it.
However, as the dust settled, increasingly the acquisition on the surface at least, seemed to make sense. As Scott Berg, former ServiceMax COO who took over the CEO mantle from Yarnold after the initial transition to GE had been completed, explained to me when I sat down with him at the Minds and Machines conference back in 2017.
“I think with GE being largely a company and culture built around engineers, we have both shared an asset centric perspective on service. For us, it was always about a system of assets in the field that customers wanted outputs and outcomes from - we were never about being your typical field service, scheduling only solution. For us it was an awareness of the people, the schedule and the asset. And certainly GE’s culture is grounded in engineering, machinery and assets - so we are on the same page.”
Indeed, if the first iteration of ServiceMax was characterised by a swashbuckling and pioneering approach to rethinking field service management, the GE period in their history was one better characterised by a more restrained and cohesive approach as part of a bigger, more holistic whole.
"If you look at GE as a company, I like to call it the largest field service company in the world. There are tens of thousands of technicians, and the vast majority of revenue at GE is derived from service contracts”
- Scott Berg, Former CEO, ServiceMax
As Berg had explained, “if you look at GE as a company, I like to call it the largest field service company in the world. There are tens of thousands of technicians, and the vast majority of revenue at GE is derived from service contracts”. Suddenly, the vision of the future of field service management that Hari, Anthani and Dave had successfully convinced our sector was the way forward was now backed up by an organisation that had the engineering gravitas to put it to the test and had backed that vision with an investment that broke all records within the FSM sector.
For many FSM companies, this is where the story may have ground to a halt. ServiceMax was increasingly aligned within the ill-fated GE Predix platform as part of GE Digital; this is the point in the story where all too often, rebrands occur, and the identity at the core of the acquired business is slowly eroded.
Yet, while the wider GE Digital business faltered (most notably Predix, which at the time was the archetypal solution for a problem no one had yet found), ServiceMax continued to report above industry earnings.
Indeed, when GE finally made the decision to carve out their GE Digital business into a standalone company (against a backdrop of analyst rumours of a distinct lack of buyers for the various elements of the portfolio and GE’s confidence in their move into growth tech markets appearing to wane), it is little wonder that ServiceMax, the jewel in the crown that had continued to shine in an ailing portfolio, remained the one valuable asset that GE could cash in on.
As such, SilverLake, the private equity firm with investment in significant technology brands such as Dell Technologies, Stripe and Peloton among many others, were able to take advantage of the uncertain future of GE Digital and introduce the third chapter into the ServiceMax story.
And the man shaping this latest chapter of the story is Neil Barua, current CEO of ServiceMax. I recall first meeting Neil within just a few days of his announcement as CEO as we met over a beer in the dry heat of the Palm Springs desert. It had been a long day for us both; I had been chairing the mainstream at Field Service USA; Neil had literally just arrived an hour or so before we met.
Yet, at the time, I recall saying to him that his passion for the role he had just taken on and the belief he expressed in the importance of how the field service sector keeps the world turning had echoes of some of those earliest conversations I had held with Yarnold almost a decade earlier.
It’s hard to pinpoint, but there was already a distinct hint of the confidence, the belief and the sheer desire to be the change that the world needs that came across in that first conversation.
Of course, in the two years in between, our world has changed immeasurably. The appealing idea of another relaxed conversation in the Californian sun seems like a long way off still as the dust settles from the pandemic.
Yet, in many ways, everything Barua said to me that evening about the importance of the field service sector was laid bare for us all to see as we collectively made our way through what have been truly unprecedented times.
“This is a time period where partnerships really matter, so we’ve reached across the aisle on both sides to make sure we do right by our customers...”
- Neil Barua, CEO, ServiceMax
His point about field service engineers being the unsung heroes of industry, now seems more prescient than ever after a year where it has been the field service workers that have quietly kept things ticking over while the rest of us adapted to the monotony of lockdown life safe in our private bubbles.
Neil and I have spoken occasionally in the intervening period, most notably after the announcement that Salesforce Ventures invested a further $80 Million into ServiceMax at a time when the partnership between the two is being firmly re-established.
It is another interesting twist in the tale, and to return to our literary metaphor from the beginning of this article; it is almost the classic plot of lost love rekindled. The classic 90s rom-com story arc of a reunion between two high-school lovers that had grown apart as they made their own paths in the world before rediscovering their affinity for each other at a later point when they are now both mature enough to realise how much they genuinely compliment each other.
ServiceMax, as we’ve covered, have had their growing pains, especially in the fall-out of the uncertainty of the GE Digital restructuring, but so to have Salesforce.
Like ServiceMax, they are another industry pioneer who for so long had so much potential to dominate within the FSM space given their position as the world’s number one CRM. Yet, somehow they never quite managed to hit the mark in terms of truly understanding the market’s needs in the granular detail that their peers and competitors did. This very much changed with the acquisition of ClickSoftware.
While the technology acquired was well accepted as an industry leader in the scheduling space, it was the depth of knowledge from former ClickSoftware CEO Mark Cantini (now GM Field Service Salesforce) and down throughout the team that has since moulded Salesforce into a true giant in the industry.
With Silverlake’s backing of ServiceMax and a newly invigorated Salesforce working in closer harmony, each aware of their own particular strengths they bring to the table, it is a formidable combination – and as our industry goes through the birth pains of seismic change brought on by the global disruption of the pandemic, to be blunt, our sector desperately needs our brightest and best innovators on top of their game and pulling in the same direction wherever possible.
As Barua commented when I spoke to him about the partnership while we were still in the depths of the pandemic, “this is a time period where partnerships really matter, so we’ve reached across the aisle on both sides to make sure we do right by our customers.”
At the heart of that partnership is Asset 360, which was at the centre of our last discussion when we caught up on Zoom a little earlier in the month.
“What does successful service delivery look like?” It was a question that we had drifted into as we had started to discuss just how much the perceived value of field service may have changed as our industry adapted to a post-pandemic world.
"As we continue to grow rapidly and expand into new industries with Asset 360, our core tenant of customer obsession still remains central to everything we do. All decisions we make around product and partnerships are all done with our customers in mind..."
- Neil Barua, CEO, ServiceMax
“For me,” Barua replied, “it absolutely requires a collection of well-orchestrated actions and data - an all-encompassing solution that supports the post-pandemic world. Honestly, that’s precisely where Asset 360 comes in – there really is no use case that we cannot support in this new era of work.
“It is one of the many reasons, that I’m incredibly optimistic about ServiceMax’s future. Despite all of the challenges and hardships we’ve faced in the last 18 months, we’ve moved so far, so fast and now the momentum is strong, to build a future that will take advantage of technologies to drive service excellence to a whole new level.”
Yet, for all the technological innovation that has come out of the ServiceMax team across the years and various iterations, there is one thing that remains consistent throughout. One thing that has become so woven into the company’s DNA that it has permeated through every incarnation and continues to shine through under Barua’s leadership.
That is an intimate understanding of the importance of customer-centricity, both for ServiceMax themselves but also for the industry they serve.
“As we continue to grow rapidly and expand into new industries with Asset 360, our core tenant of customer obsession still remains central to everything we do. All decisions we make around product and partnerships are all done with our customers in mind,” Barua explains.
“Our priority will always be to help them run more profitable, efficient service operations and ensure uptime on the world’s most important assets,” he adds.
If the first iteration of ServiceMax had the brash confidence of the arrogant start-up set to conquer the world, and the second iteration of ServiceMax had the confidence of being part of one of the world’s most iconic and successful brands, then this third iteration of ServiceMax has the confidence of a company that has been at the forefront of the industry for so long that they don’t just get the t-shirt, these guys make the t-shirts now.
Despite the significant investment from both Silverlake and Salesforce Ventures, ServiceMax distinctly has an air of entrepreneurship back in the mix and that stems no doubt from Barua’s own personal flair.
The entrepreneurial innovator is a role that just seems to suit the company better perhaps than the smaller cog in the corporate wheel that they had become under GE. It is hard to explain why, but some companies just have a natural persona and this third iteration of ServiceMax just seems to have found the right blend that fits with their corporate DNA.
Indeed, it is this blend of individual flair met with genuine passion and deep subject matter expertise that for me personifies ServiceMax and it is one that permeates across many members of the team I have grown to know well over the years (such as senior members of the Global Customer Transformation team like Kieran Notter and Coen Jeukens two of the brightest minds in the industry.)
Yet ServiceMax, also are making more measured movements this time around, perhaps having gone through the corporate machine, but equally in no small part down to Barua’s leadership and previous experience as CEO at fintech provider IPC Systems.
As our industry moves through yet another mass evolution, once again at a breakneck pace, indeed at a more incredible pace than ever before, I fully expect Barua’s iteration of ServiceMax to be at the vanguard of the innovation once more.
Whatever comes next, though, in the ServiceMax story, it almost certainly won’t be part of the standard script
Aug 16, 2021 • Features • management • BBA Consulting • field service management • Jim Baston • service strategies • Leadership and Strategy
In this final feature of his blog series on “supercharging” revenue generation through the field service team, Jim Baston, President of BBA Consulting Group, explains how to create a plan to maintain the focus and enthusiasm of your field team.
In this final feature of his blog series on “supercharging” revenue generation through the field service team, Jim Baston, President of BBA Consulting Group, explains how to create a plan to maintain the focus and enthusiasm of your field team.
This is my last blog on supercharging revenue generation through your field service team.
Imagine opening up a reputable trade magazine and reading an article that states that you should stop maintaining your mechanical and electrical equipment. You read the following:
Engineers have just discovered that maintenance of mechanical and electrical equipment is not needed to keep equipment running at peak performance. You’ll get better performance by ignoring the equipment altogether. The equipment will run better and you’ll save money on not having to pay those service bills! This is great news for building owners and process managers. They can now take a hands-off approach, while getting excellent performance from their equipment.
Sounds a bit silly, doesn’t it? Who could possibly believe that the equipment that we lovingly maintain for our customers could possibly perform better if left un-serviced? In real life, without maintenance, filters will clog, belts will break and electrical connections will overheat. The cost of keeping things running, let alone performing at their peak will go up exponentially. Ultimately, everything will grind to a halt.
And yet, if we don’t take steps to help our techs maintain focus, is it not suggesting that we’ve similarly unrealistic expectations when it comes to their proactive performance? What are we doing for our field team to “maintain” their focus of making recommendations that will help the customer to be better off? We can do little or nothing and leave it to chance, or we can take the initiative to put into place a strategy to maintain focus and continually upgrade skills. The choice is ours.
Maintaining focus requires that we put in place a strategy to constantly “maintain” the service our technicians are providing. This includes:
- Talking about the valuable service provided by the field service team at every opportunity
- Providing skills reinforcement on a regular basis
- Coaching the desired behaviour
- Keeping the team current on all of our company’s capabilities
- Evaluating the effectiveness and efficiency of our tools and processes to ensure they continue to provide the support needed to help the techs do their job
- Measuring and reporting on results
A special word about measurement. The proactive efforts of our technicians will generate new revenues so it’s natural to want to measure any revenue growth associated with their efforts. This could include measures such as overall revenue growth, growth of project business compared to the maintenance base, etc. But these types of measures only look at part of the picture. If we’re performing a valuable service, we should also consider other measures of the success of our initiative. These include:
- Customer satisfaction scores
- Customer retention rates
- Emergency vs. planned work (the percentage of emergency work should decrease vs. our planned work which will have an impact on our labour planning)
And don’t forget to ask the customer how they feel about the service itself. For example, we could ask, “How happy are you with the recommendations our technicians are making to help you achieve your business goals?
This is the last blog in our series of supercharging revenue generation through the field service team. I hope you have found it of value. To return to the first blog in this series, click here. If I can be of any assistance, please just let me know. You can reach me at jim@jimbaston.com or call me at (416) 254-2383.
Reflection
Create a plan to maintain the focus and enthusiasm of your field team in each of the following areas:
Focus
- Skills reinforcement
- Coaching and development
- Maintaining currency
- Skills
- Systems and tools
Measurement
- Customer satisfaction and retention
- Performance measurement
- Operational impacts
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This course is available to purchase for just £299.
Alternatively, this course is available as part of the Field Service News Masterclass program included within an annual subscription to FSN Elite our new membership community. Currently, while we are in a beta trial of FSN Elite we are offering a free upgrade for all FSN Premium subscribers.
FSN Premium subscription costs just £299 a year (giving you a year's access to this course and others within the Masterclass program as well as access to weekly zoom discussion calls and our in-person event)
Further Reading:
- Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Read more exclusive articles by Jim Baston @ www.fieldservicenews.com/jim-baston
- Connect with Jim Baston on LinkedIn @ linkedin.com/jimbaston
- Learn more about Jim Baston and BBA Consulting Group @ jimbaston.com
- Connect with Jim Baston directly by email @ jim@jimbaston.com
Aug 03, 2021 • Features • Digital Transformation • field service management • Marc Tatarsky • Covid-19 • Leadership and Strategy
In this new article for Field Service News, Marc Tatarsky, SVP of Marketing at FieldAware, discusses what organizations in the field service sector should expect as the world gradually reopens for business.
In this new article for Field Service News, Marc Tatarsky, SVP of Marketing at FieldAware, discusses what organizations in the field service sector should expect as the world gradually reopens for business.
As we enter just past the halfway point of 2021, it feels as though the trials and tribulations of the last 24 months are finally working their way into the rearview mirror. While the COVID-19 pandemic isn’t entirely behind us, much of the world is indeed getting back to a new normal of operating, and the global economy is kicking back in. With the global vaccination rate reaching over a majority of the population in many countries (well over 50% and rising), summer vacations are starting to kick in. Airlines are adding flights, global business events are beginning to go back on the calendar, and many businesses are re-evaluating their office policies.There is no doubt that the ramifications of COVID-19 are still being felt. Some of the effects of a paused global supply chain are still creeping up in many unanticipated areas – chip manufacturing shortages, surging lumber prices, and even a national chicken wing shortage in the US. But as the dust begins to settle and we analyze some of the lasting repercussions from our survival responses to COVID-19, several unique business model implications have risen to the top. For example, within the service management sector, one lasting transformation has been the consumerization of the end-to-end service experience.
THE RAMIFICATIONS OF THE PANDEMIC WILL STILL AFFECT THE FIELD SERVICE SECTOR AS COMPANIES QUICKLY TRY TO ADAPT TO THE "NEW NORMAL"
Something interesting happened when the service industry was forced to deal with the global pandemic. A blurring of B2B and B2C customer experience (CX) expectations occurred. New biosecurity requirements forced many field service organizations to adopt new processes and technology quickly. They needed to fulfill requirements to be accountable for the timing and biosecurity of their dispatched resources. In addition, businesses and employees of all levels were exposed to the art of the possible in their personal customer experiences regarding home deliveries, food services, and other remotely delivered services. The patience for working with an organization that doesn’t take a 360-degree view of customer experience is waning.
Businesses expect the same level of service and data continuity for their business interactions as they do with their consumer interactions. Consumer industry giants like Amazon, Uber, and Netflix are leading the way. Raising the bar of expectations for what customer satisfaction and customer experience can be for all businesses resulting in elevated expectations for understanding past and future service history à la Netflix and point-to-point transparency and status monitoring à la Uber as well as a true 360-degree buyer experience à la Amazon. Businesses expect their B2B interactions to incorporate many of these consumer experiences and have increasing demands for a truly transparent customer experience.
"One of the most critical elements of any modern field service management system is interconnectivity and data transparency across various systems of record."
Field service organizations raced to adopt new processes and technologies to accommodate expanded service delivery requirements as part of their required response to COVID protocols. However, many of these efforts were rushed into production, leaving the overall customer experience somewhat flat. Now that the new normal operations are stabilizing, advanced service organizations are taking a closer look at their execution models and identifying necessary enhancements and optimizations to deliver the customer experience anticipated. They know the patience for adapting to and getting the workflows right has shortened, and B2B expectations have risen.
One of the most critical elements of any modern field service management system is interconnectivity and data transparency across various systems of record. With the rising consumerism of the service experience, customer data, history, and the workflows associated with field activities must be thoroughly interconnected and transparent. It is not sufficient to have a closed-loop field service workflow. The workflows must interact and leverage data and insights across the organization to enable a seamless 360-degree customer experience.
While this sounds intuitive, many single-vendor solutions lack the functionality or easy connectivity to accomplish this task without significant customization and professional services investment. A best-of-breed approach can often offer better ROI and additional functional advantages by providing unconflicted integration, improved specialized usability, and scale. This flexibility and robust field service-specific capabilities help meet the changing needs and requirements of the service organization – now and in the future.Many field service segments are bracing for a surge in demand and must be agile to respond. For example, infrastructure service organizations such as renewable energy must not only contend with macro demand pressures created by a global sustainability push but, in the US, a looming federal infrastructure mandate. As both sides of the aisle start to come together to work through the pressing infrastructure challenges in the US, it appears a significant, albeit slimmed down, infrastructure bill is gaining support. This new federal legislation, combined with the global focus on sustainability and reduced carbon emissions, has set the stage for the next wave of demand in a segment that had raised customer experience expectations accelerated by COVID-19 activities. This surge in demand and hyper-focus may create a new mini “crisis” in the supporting field service management activities. Leading vendors in the segments impacted by this surge (and similar surges) will need to closely evaluate their service delivery model to ensure they can deliver on the rising expectations and capitalize on the boom in demand.
Further Reading:
- Read more about Digital Transformation @ www.fieldservicenews.com/digitaltransformation
- Read more exclusive articles by Marc Tatarsky on Field Service News @ www.fieldservicenews.com/marctatartsky
- Read more News and Features from FieldAware @ /www.fieldservicenews.com/fieldaware
- Learn more about FieldAware @ www.fieldaware.com
- Connect with Marc Tatarsky on LinkedIn @ www.linkedin.com/in/marctatarsky/
Jul 28, 2021 • News • Service Management • Mize • Leadership and Strategy • GLOBAL • Gary Napotnik
In this new article, Gary Napotnik, Chief Marketing Officer at Mize, discusses what is service lifecycle management and how it can improve customer experiences and revenues.
In this new article, Gary Napotnik, Chief Marketing Officer at Mize, discusses what is service lifecycle management and how it can improve customer experiences and revenues.
Aftermarket has taken a backseat to other company-wide digitization initiatives for durable goods manufacturers for far too long. While we collectively recognize the value of post-sale revenue, it has been difficult—and nearly impossible—to align the people, processes, and technology required to optimize the approach.
Razor-thin margins on the products we sell are driving a sea of change among executives in the industry who now recognize that their ability to deliver post-sale services will make or break their businesses. Fortunately, the emergence of Service Lifecycle Management (SLM) is making it easier for these durable goods manufacturers to provide a seamless experience across every customer touchpoint in the service lifecycle.
WHAT IS SERVICE LIFECYCLE MANAGEMENT?
Service Lifecycle Management is a practice that connects customers, channel partners, OEMs, and suppliers. It supports post-sale service processes, including product registration, warranty, service contracts, parts, support, knowledge, and service. When Service Lifecycle Management is done right, it differentiates your offering and delivers unrivaled value to customers.
"Manufacturers are beginning to look to the service operation to not only cut costs but drive at differentiation," said Aly Pinder, program director, Service Innovation and Connected Products Strategies, IDC Manufacturing Insights. "In a market where margins are tight, the ability to deliver efficient and enhanced service experiences will help differentiate manufacturers and wow customers."
SERVICE LIFECYCLE MANAGEMENT EMPOWERS GROWTH -MINDED EXECUTIVES TO INCREASE POST-SALE REVENUE
Durable goods manufacturers are focused on growth this year as we emerge from the pandemic and refocus on revenue growth instead of business continuity. According to the Service Council's 2021 Service Leader's Agenda report, over 40% of executives and managers focus their efforts this year on CX initiatives and service innovation.
To achieve their aggressive growth goals and maximize customer lifetime value, leaders leverage a Service Lifecycle Management approach to connect and align stakeholders across the value chain. This includes functional areas of post-sale services that can be easily disconnected and mired in complexity, including:
- Warranty Management: Reduce warranty expenditures, improve product quality, and enhance the customer experience with a streamlined warranty system (including registration, warranty claims, plans, and returns inspection) that allows all stakeholders to collaborate.
- Field Service Management: Increase first-time fix rates, improve technician productivity, and enhance product uptime by delivering the right resources, knowledge, and parts at the point of service.
- Service Parts Management: Increase parts sales, reduce parts identification errors, and optimize parts inventory while ensuring the right parts are available to fulfill service jobs.
- Knowledge Management: Improve point-of-service knowledge access to empower technicians to diagnose repair problems accurately, increase first-time fix rates, and improve efficiency.
- Depot Repair: Fix inefficient processes at centralized repair depots to improve profitability and customer satisfaction through reduced downtime, increased technician productivity, and lower parts inventory costs.
- Additional Solutions Supporting SLM include Service Contracts Management, Remote Asset Monitoring, Support Management, Supplier Warranty Management, and Remanufacturing Management.
Register for the free event on the Field Service Medical Virtual Event page.
THE FLEXIBILITY TO CHOOSE A STARTING POINT AND GROW
The traditional challenge of post-sale service has often boiled down to the inability to find a solution that offers the right fit. Custom-built applications are difficult to build and costly to maintain. Using an existing CRM or ERP solution can help bridge the gap but quickly becomes unwieldy since they’re not purpose-built for SLM. Other SLM solutions in the marketplace require leaders to implement an approach that doesn't match the scale of their current needs.
With Mize, durable goods manufacturers have found a solution that grows with them and meets them where they are. You may need Warranty Management immediately or in a year. Another part of your organization may require Knowledge Management for their field service teams to improve first-time fix rates. The Mize platform grows with you through modules called Smart Blox that meet evolving needs.
SERVICE LIFECYCLE MANAGEMENT BY THE NUMBERS
With Mize, durable goods manufacturers have achieved:
- A 67% increase in aftermarket lifetime value
- 30%+ profit margin with revenues from service contracts, service parts, and aftermarket services and products
- 15% lower costs by optimizing service delivery
- 5x profit margins by increasing customer retention and repeat sales
Service Lifecycle Management can truly be the differentiator that elevates and expands your revenue stream beyond the sale in a hyper-competitive market.
Further Reading:
- Read more about Leadership & Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Find out more about Mize @ www.m-ize.com
- Learn more about Mize on Field Service News @ www.fieldservicenews.com/blog/all-about-mize
- Read more on Mize's blog @ www.m-ize.com/blog
- Follow Mize on Twitter @ twitter.com/mizecom
- Connect with Gary Napotnik on LinkedIn @ www.linkedin.com/in/garynapotnik
Jul 20, 2021 • News • Digital Transformation • servicemax • Leadership and Strategy
ServiceMax, the leader in asset-centric field service management software, announced it has entered into a business combination agreement with Pathfinder Acquisition Corporation, a publicly traded special purpose acquisition company.
ServiceMax, the leader in asset-centric field service management software, announced it has entered into a business combination agreement with Pathfinder Acquisition Corporation, a publicly traded special purpose acquisition company. Upon closing of the transaction, ServiceMax will become a publicly traded company, and is expected to be listed on the Nasdaq Stock Exchange under the symbol "SMAX". Neil Barua, who has served as CEO of the Company since 2019, will continue to lead the business post-transaction.
THE TRANSACTION VALUES SERVICEMAX AT A PRO FORMA ENTERPRISE VALUE OF APPROXIMATELY $1.4 BILLION
ServiceMax’s asset-centric field service management software, which has been positioned as a leader in the last five published Gartner Magic Quadrants for Field Service Management[1], helps companies that sell, service and maintain mission critical equipment to keep the world running. From its inception in 2007, ServiceMax has been modernizing field service by bringing cloud-based applications to service operations, and by putting mobile applications in the hands of field technicians. The Company’s solutions improve customers’ ability to manage the complexities of service, support faster growth, and run more profitable, outcome-centric businesses.
“ServiceMax enables life as we know it to happen, uninterrupted, by empowering some of the world’s biggest and most well-known suppliers, distributors, and manufacturers to provide consistent and reliable service to their customers,” said Neil Barua, ServiceMax CEO. “We’ve seen Original Equipment Manufacturers and operators increase their focus on digital transformation and we believe that ServiceMax is well positioned to support those needs by leveraging our 10+ years of focus on complex service management for mission critical equipment, and by innovating and delivering on a differentiated product strategy and roadmap. We believe this transaction with Pathfinder will allow us to accelerate growth and capture more opportunities within this growing $9 billion market.
“It is a privilege to partner with ServiceMax, the only cloud-native, mobile-first, field service management SaaS provider,” stated David Chung, CEO, Pathfinder Acquisition Corporation. “We believe that ServiceMax’s large and underpenetrated addressable market, accelerating growth, and best-in-class leadership team uniquely position ServiceMax to further redefine the field service management sector and provide its expanding user base with innovative, customer-oriented solutions.
In addition, ServiceMax has also announced the signing of a definitive agreement to acquire LiquidFrameworks, a leading mobile field operations management solutions company that is cloud-based, energy sector-focused and built on Salesforce’s platform. Along with deepening ServiceMax’s position in the oil and gas, industrial and environmental sectors, the agreement will also bring critical technologies and go-to-market channels to ServiceMax to expand the Company’s product portfolio and customer offerings.
As the market continues to pressure the oil and gas industry to become more capital efficient, oilfield service providers must transform their legacy field operations management processes to digital systems. Whether working long rotations on an offshore platform with limited connectivity or turnarounds in a refinery, Field Technicians in this industry are responsible for delivering service to the customer along with operating new digital systems aimed at maintaining assets, improving productivity, and growing revenue. The acquisition will better position ServiceMax to meet the demand for digital service execution in this industry while expanding ServiceMax’s product portfolio and go-to-market channels.
THE ACQUISITION OF LIQUIDFRAMEWORKS ENABLES SERVICEMAX TO EXPLAND ITS FIELD SERVICE MANAGEMENT SOLUTIONS TO MEET THE UNIQUE CHALLENGES OF THE ENERGY SECTOR
“ServiceMax is committed to doing all we can to help companies keep critical assets - and the world - running. Strengthening our customer offerings in the energy sector is core to that commitment,” said Neil Barua, CEO, ServiceMax. “Combining ServiceMax’s modern field service platform with LiquidFrameworks’ industry expertise better equips us to provide oil and gas companies with the tools they need to ensure consistent, reliable service, and maximize asset performance.”
“ServiceMax’s history of innovation has been transforming field service organizations for over a decade,” said Travis Parigi, Founder and CEO, LiquidFrameworks. “The combination of LiquidFrameworks field-first, energy-specific offering, with ServiceMax’s asset-centric field service suite will be unparalleled in the market. We are committed to helping companies realize the promise of digital transformation.
”“We are proud of LiquidFrameworks’ growth and development over the course of our investment partnership, as the company delivered a differentiated, mission-critical SaaS offering that helped customers in the oil, gas, and industrial services industry react quickly and efficiently navigate the digital transformation journey,” said Hollie Haynes, Managing Partner at Luminate. “We are thrilled to see the company continue to support its customers through this combination with ServiceMax, further extending its competitive differentiation across the field service management landscape,” noted Mark Pierce, an Operating Partner at Luminate who has served as Chairman of LiquidFrameworks since the Luminate investment.
Further Reading:
- Read more about Leadership and Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Read more about ServiceMax on Field Service News @ www.fieldservicenews.com/servicemax
- Find out more about ServiceMax @ www.servicemax.com
- Follow ServiceMax on Twitter @ twitter.com/ServiceMax
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