While 5G is being widely deployed on a global basis, we haven’t even begun to see the full potential of this technology, according to GlobalData.

The leading data and analytics company notes that 5G is yet to make a significant mark in terms of the faster data speeds, latency and other hallmarks that will enable advanced features such as self-driving cars and immerse gaming. However, more advanced telecom bundles are appearing, and GlobalData expects 5G subscriptions to increase as more powerful applications come through.

THERE WILL BE 3.9 BILLION 5G MOBILE SUBSCRIPTIONS GLOBALLY BY THE END OF 2026, WITH WORLDWIDE SERVICE REVENUES EXPECTED TO HIT $609BN

Lynnette Luna, Principal Analyst with GlobalData, comments: “Although we have not yet seen all that 5G is capable of in early deployments, the technology has a multitude of future opportunities for telecom operators. Not only will capacity bring down the per-bit cost for carriers, the basic cost efficiencies that 5G brings will enable operators and developers alike to create new applications for the technology as it becomes to mature and develop.

“This growing innovation will contribute to an expected rise in 5G mobile subscriptions worldwide. At the end of 2026, GlobalData predicts there will be 3.9 billion such subscriptions, representing a whole 35.1% of total subscriptions. Global 5G service revenues will total $609bn.”

Some revenue-generating strategies seen in the US and Europe on 4G networks also resonate on 5G networks. Within the US postpaid wireless market in particular, operators have always enticed users to sign up for premium plans through service bundles, such as video streaming and gaming.

Luna adds: “5G ARPU in 2026 is expected by GlobalData to greatly outpace that of earlier technology generations, with 5G bringing in monthly ARPU of $14.15 per month versus 4G’s monthly ARPU of $5.48.”

In some markets, we are beginning to see more advanced bundles marketed with 5G. Vodafone is in the process of rolling out Nreal smart glasses in its 5G markets across Europe, offering an interest-free hardware bundle and an app called Vodafone 5G Reality AR. In addition, a number of 5G operators are beginning to sell cloud gaming services. Telia in Sweden and EE in the UK are selling Microsoft’s Xbox Game Pass Ultimate memberships that include cloud gaming. Telia customers can also buy a dedicated cloud gaming promotion featuring an Android phone, Telia plan and a free Razer Kishi universal Android controller and the Xbox Game Pass in one bundle.”

Luna concludes: “Operators will continually improve their bundles with new 5G features. Eventually they will take advantage of ultra-low latency and consistent gigabit data speeds.”

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about 5G @ www.fieldservicenews.com/5g
• Find out more more about GlobalData @ www.globaldata.com
• Read more about GlobalData on Field Service News @ www.fieldservicenews.com/globaldata
• Read more about Mobility on Field Service News @ www.fieldservicenews.com/mobility

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

Durabook, the global rugged mobile solutions brand owned by Twinhead International Corporation, announced today the introduction of its dramatically upgraded Z14I fully-rugged laptop.

The device is 1.6x faster than its predecessor thanks to the inclusions of the 11th Gen. Intel® Core™ processor. This exceptional performance, combined with other new features, makes the Durabook Z14I the world’s toughest fully-rugged laptop.

What the Manufacturers Say:

Faster Computing Power

Equipped with the Tiger Lake mobile processor – 11th Gen. Intel Core i5-1135G7 (2.4GHz -4.2GHz)/i7-1165G7 (2.8GHz -4.7GHz) – the Z14I is up to 1.2x faster than the 10th generation version and 1.6x faster than the 8th gen (used in the previous model), a significant CPU upgrade. In addition, the device supports the Intel vPro platform, bringing together business-class performance, hardware-enhanced security features, modern remote manageability, and PC-fleet stability.

Storage

Equipped with the latest NVMe PCIe SSD technology, the Z14I provides up to 1TB of storage and R/W speeds of up to 2500MB/s, 4x faster than SATA III SSD. It also can accommodate two more internal SSD SATA III drives to maximise onboard storage, providing one each: NVMe PCIe SSD, SATA III SSD, and media bay SATA III SSD. In addition, if more storage is needed, the Z14I can be turned into a rugged portable server by adding a RAID storage extension chassis with up to four additional SATA III SSDs for RAID 0/1/5/10 configurations.

Tremendous I/O Interface Options

When it comes to interface options, the advanced Z14I offers:

• Thunderbolt™ 4 technology; 40Gb/s of bandwidth; one port that supports multiple protocols (USB 4, DisplayPort, PCIe); supports up to 2x 4K displays; backward compatibility with Thunderbolt 3 and USB-C; maximum flexibility for docking station;
• HDMI and VGA video ports as standard configuration
• Equipped with 2x RJ-45 LAN and 2x RS-232 ports

Maximum Connectivity

Featuring advanced wireless technology and improved connection robustness with its Intel® Wi-Fi 6 AX201 and Bluetooth® V5.2, the Z14I is ideal for applications that require an instant response. Wi-Fi 6 AX201 provides a maximum speed of up to 2.4Gbps, 1.39x faster than AC 9260, while its Bluetooth® V5.2 bandwidth is 8x greater than v4.2 and can connect multiple devices at once.

Exceptional Graphics’ Performance

The new Z14I comes with Intel® Iris® Xe Graphics, 150 MHz higher than UHD 620, resulting in 2.75x faster 3D effective speed – more than enough for daily usages. For professionals running massive graphic computing, the Z14I also can be built with optional expansion standalone NVIDIA GeForce® GTX 1050.

More Rugged Than Ever

MIL-STD 810H certified (drop, shock, vibration, rain, dust, altitude, freeze/thaw, high/low temperature, temperature shock, humidity, explosive atmosphere, solar radiation, salt fog, fungus resistance), the Z14I withstands harsh environmental challenges. It also boasts six-foot drop resistance and IP65 certification to stand up to any extreme conditions. In addition, Ultra-long battery life of 16 hours with five minutes of bridge time ensures data loss and downtime are non-issues.

AVAILABILITY

The upgraded Durabook Z14I fully rugged laptop starts at £2,988.

For more information visit Durabook @  https://www.durabook.com/en/products/z14i-laptop/.

Field Service News Research is pleased to announce the findings of their recent study run in partnership with HSO that looks at the latest trends around customer-centricity and the increasing use of technology to drive improved customer satisfaction standards...

In recent years we have seen a marked shift in the emphasis on the metrics which define success within field service operations.

Traditionally, the critical metrics within field service organisations have centred around operational success. KPIs such as Mean-time-to-Repair (MTTR), Technician Utilisation and First-Time-Fix (FTF) have always been at the top of any benchmarking study relating to this area.

However, increasingly across the last few years of undertaking such benchmarking studies, we have seen Customer Satisfaction (CSAT) metrics become widely cited as critical KPIs amongst field service organisations.

For example, in a previous study hosted by FSN Research, we noted that 51% of field service companies now saw an equal weighting in importance between operationally-focused KPIs and CSAT-focused KPIs. Furthermore, 13% of field service companies went further and stated that they felt CSAT focused KPIs were of greater importance for measuring their business success.

Taking this in mind, FSN Research in partnership with HSO has undertaken a detailed study to understand precisely what CSAT metrics are being tracked.

At the same time, we must also acknowledge that the digital transformation journey our sector has been on for several years was significantly accelerated due to the pandemic across 2020 and into this year.

There has been much discussion of what the new normal will look like for the field service sector.

However, the indicators apparent within numerous studies from FSN Research and beyond suggest many of the key trends that were emerging will be at the heart of our thinking as we move into the brave new world of the post-pandemic field service operations.

Three of the key pillars of this future of field service are servitization, digital transformation and customer-centricity. Therefore, the second objective of this study is to better define the interplay between these three crucial areas.

Next, the study was designed to focus on how the digital transformation our industry is moving through can empower the shift to an industry more focused on customer success and, finally, to assess whether that transformation will lead us naturally towards becoming an industry that places servitization at its heart.

In the study we spoke to a sample of over 280 field service leaders from a variety of different industry verticals including manufacturing, utilities, telecommunications, power generation, healthcare, med-tech, security and many others.

The study was conducted during April and May 2021 and data was collected online via personal invitations to participate. The data presented in this report is quantitative. We are currently undertaking interviews with a selection of respondents for our final report within this study which will then be based on further qualitative data yielded in those interviews.

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Field Service News subscribers can access this latest Field Service News Research Benchmarking Report now that outlines all of the key findings of this study.

Subscribers across all our subscription tiers can currently access this paper instantly by hitting the button below.

If you are yet to subscribe you can join our free-forever subscription tier FSN Standard by hitting the button to access a dedicated registration page that provides you instant access to this white paper PLUS you will also be able to access our monthly selection of premium resources as soon as you are registered.

 

 

 

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IFS, the global cloud enterprise applications company, today announced its financial results for the first half of 2021. After a strong Q1, H1 is evidence that the company is successfully executing its growth strategy and pursuing its transformation into a leading vertical asset and service centric Cloud software vendor.

With more companies recognising the benefits of deploying in the Cloud and turning to IFS to digitally transform and deliver their moments of service, all software revenue line items grew double digit driven by a steep acceleration in cloud revenue (+79% YoY) and recurring revenue (+27% YoY).

Continued improvement in the quality of the revenue mix with software at 74% of revenue AND H1 Cloud revenue up 79% YoY

H1 also saw some key milestones for IFS, including:

• The acquisition of Axios Systems extends IFS’s service management proposition into ITSM and ITOM to create the most compelling Enterprise Service Management proposition on the market. Combined with IFS’s leadership in Field Service Management, this secures IFS’s ambition to cement itself as the market leader in broader the Service Cloud space.
• The launch of IFS Cloud, IFS Cloud is built using the latest technology including the industry’s most modern UX, digital-twins for enhanced performance, low code/no code development, containerization and a composable architecture which are all critical to creating business agility and realizing value.
• The global launch of IFS’s new branding together with the Moment of Service sets out IFS’s clear strategy to align its value proposition to Servitization to enable organisations to deliver their Moment of Service.

IFS CEO, Darren Roos, commented: “IFS is a technology led company with the single goal to make the latest technology advancements available to our customers in a way that creates value fast, has a low total cost of ownership, and is easy to consume and use. H1 is evidence that our strategy to focus on this and to build agility into our product operations so customers can respond to the market fast is working.” Roos continued: “Customers can see the difference in what IFS is doing, and that ensuring their success is why we do what we do. They also see that very few other vendors offer flexibility in deployment, depth in product and powerful technology while shaping their business around customers experience.” Roos concluded: “Delivering our Moment of Service to our customers is a very real mission for IFS, and the sharp rise in cloud adoption is testimony to that.”

IFS Chief Financial Officer, Constance Minc, commented: “I believe our H1 performance is evidence of a strong and successful strategy. We are delivering double digit software revenue growth at 20% and our share of software revenue and recurring revenue continue to increase improving future performance predictability.” Minc added: “The upward trend in our performance is not only present in the last 6 months but over the long term as demonstrated by the double-digit growth in LTM software revenue for the past 3.5 years.”

Other financial highlights include:

• H1 software revenue was SEK 2.6bn, an increase of 20% Year on Year
• H1 recurring revenue was SEK 2bn, an increase of 27% Year on Year and representing more than 80% of software revenue
• H1 cloud revenue increased 79% Year on Year representing more than 39% of software revenue
• Proportion of license revenues from net new customers is 54% of total

* Note: all figures based in Swedish Krona and reported in constant currency.

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Follow IFS on Twitter @ twitter.com/ifs

ETELM, the radio communications infrastructure specialist, has been named as part of the INTEPID project consortium awarded €6.8 million by the European Commission. The aim of the consortium is to create an innovative new platform for the safer and faster exploration and assessment of disaster zones.Combining deep indoor networking with other advanced and groundbreaking technologies such as intelligent amplification, extended reality, smart cybernetic assistants and positioning capabilities, a total of 17 partners from across seven European countries form the consortium now tasked with developing this specialist platform.

ETELM will be contributing its expertise in critical communications infrastructure to provide an innovative Tactical Communication System to improve both indoor and outdoor exploration capabilities of first responders. It will also be working on a Tactical Range Extender solution to enhance indoor coverage, enabling the INTREPID network to reach areas where signal propagation will be otherwise limited, such as underground or deep indoors.

THE INTREPID PLATFORM WILL ENABLE FIRST RESPONDERS TO START OPERATIONS IMMEDIATELY WITHOUT HAVING TO WAIT FOR SPECIALISED TEAMS OR FOR THE AREA TO BE FULLY SECURED

Nicolas Hauswald, CEO of ETELM, said: “It’s not uncommon that in a time of crisis the pre-established public operator networks will either quickly become overloaded or crash entirely. This means that a more reliable and robust means of communicating effectively is essential for first responders. Through INTREPID we are looking at worst case scenario planning where we can leverage a variety of technologies, including the use of drones and robots, to work together in ensuring that the response to a crisis can be deployed as fast and as effectively as possible, even in the most treacherous environments.”

Many challenges arise in the immediate aftermath of a natural or manmade disaster. First responders must make urgent decisions in large, complex and hostile areas with many unknown and unsafe spaces to explore. Lack of reliable information and deep uncertainty about the environment and the situation, as well as the nature and location of victims and threats, are often serious obstacles to a rapid and effective response.

The INTREPID platform will enable first time responders to start operations immediately without having to wait for specialized teams or for the area to be fully secured.

Dr Olivier Balet, CS Group and project coordinator, said: “We believe that advanced drones and robots that can collaborate with each other through enhanced situational awareness and onsite assistance thanks to extended reality and intelligence amplification concepts will offer first responders an unprecedented head start when operating in hazardous areas. “INTREPID will revolutionize rescue operations and we plan to bring these innovations to the market in the next couple of years.”

This three-year long project, which kicked-off at the end of 2020, will validate the effectiveness of its results in three iterative and complementary pilots to support the rescue operations in complex or dangerous areas to be explored. Scenarios will include a flood in a Stockholm metro station, an industrial accident on a SEVESCO site in Marseille, and a major explosion in a public building in Madrid.

For more information, visit www.intrepid-project.eu

Further Reading:

• Learn more about ETELM  @ www.etelm.fr
• Read more about Managing the Mobile Workforce @ www.fieldservicenews.com/managing-the-mobile-workforce
• Read more about ETELM on Field Service News @ www.fieldservicenews.com/etelm
• Follow ETELM on Twitter @ twitter.com/ETELM2

The largest telecommunication company in the Americas has selected OverIT's SPACE1 to help transform the customer experience for their broadband and television services for their users in the Americas.

SPACE1's unique ability to combine augmented reality-powered remote assistance with guided digital instructions delivered improved interactions between agents and customers, resulting in the telco group choosing SPACE1 during testing to replace their existing remote assistance platform.

This Telco giant was looking for a solution that could support the following: 

1. Real-time customer engagement from SMS or WhatsApp for session control and collaboration
2. Digital work instructions for agents
3. Intelligent indexing and re-purposing of interactions for training and knowledge management

Agents being able to interact easier with end-customers by having preliminary virtual calls to triage results in reduced field technician visits to customer homes by 50% and improved first-time fix rates by 70%. Using Artificial Intelligence, agents from 7 different call centers are equipped with more efficient tools in real-time. They can interact, capture, and record their experiences with the end-customer, which are then processed by and shared within the entire organization.

One of the Telco group's essential requirements was the ability for SPACE1 to integrate seamlessly into their current tools. SPACE1's proven track record with integration has presented them with the right choice for their business compared to other AR providers.

"The selection of OverIT's SaaS offering by the largest Telecommunications group in the Americas marks a new milestone for OverIT's SPACE1 supporting B2C business models. OverIT's industrial-grade AI-based remote collaboration and knowledge management platform is unparalleled in the industry and the only capable of offering complex virtual collaboration scenarios. This contract definitely strengthens the explosive growth of the subsidiary in North America", said Alejandro Nestares, SVP and GM OverIT Americas.

Backed by US capital with development headquarters in Italy and main US offices in Boston and Miami, OverIT 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 and AR industries. 

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
• Follow OverIT on Twitter @ twitter.com/OverITSpA

IFS, the global cloud enterprise applications company, announces that it has acquired Customerville.

Design-Driven Feedback™ technology provider, Customerville, is an award-winning feedback platform that elevates feedback and listening across the entire customer journey, blending technology, design, and behavioral science to emulate how people naturally share and respond to feedback.

The acquisition creates a uniquely strong proposition for IFS. IFS enables customers to orchestrate their customers, people and assets to deliver outstanding moments of service. In order to ensure these moments of service are indeed outstanding and critically, meeting customer expectations feedback is essential. By embedding the ability to gather the voice of the customer at the moment of service, IFS will enable companies to perfect these moments of service.

Customerville to be integrated into the IFS Cloud proposition helping IFS customers increase engagement, improve revenue and profitability, and drive product, service, and outcome innovation. 

IFS has a long-established relationship with Customerville with the tool deeply entrenched in its own VoC program. The customer sentiment analysis and the really unique view of the intelligence Customerville brings to IFS has played a significant part in how IFS has developed its services, how it developed IFS Cloud, and is continuing to shape its customer Life Cycle Experience program and culture.

The acquisition further cements IFS’s commitment to deliver the capabilities organizations need as they shift their business models away from selling products alone. As companies increasingly focus on design and innovation for service, they are asking for capabilities that helps them understand their customers and their needs better and maintain a dialogue over time. With the acquisition of Customerville, IFS is responding directly to this need.

Darren Roos, IFS CEO, commented: “Customerville is highly differentiated in its field because it is Design-Driven, unlike competitors that offer surveys in static and flat formats, Customerville transforms customer surveys into rich, interactive experiences elevating customer response rates by between 400% and 600%. Successful VoC programs are proven to increase revenue, reduce costs and create a customer centric culture”. Roos continued “Providing this capability to every IFS customer as part of IFS Cloud means empowering them to not only deliver products or services based on customer insights but to do so at the early design stage which creates significant business value.”

Max Israel, CEO of Customerville, commented: “Our goal at Customerville is to show companies they can own the narrative and go beyond emailing dry reports; this is a fundamental shift for companies looking to deepen their understanding of the customer journey and make smarter decisions. With IFS we saw a meeting of minds in the desire to create a mechanism that would enable businesses to embed surveys into their own customers’ journeys.” Israel added “IFS is committed to enabling customers to deliver amazing Moments of Service and we love the team’s passion for creating great experiences. Customerville fits right into that mindset and is a natural extension of IFS’s proposition and we look really forward to our joint successes”. 

Customerville surveys are beautifully designed, thoughtfully structured and aligned to the customer journey to create an engaging experience and provide insights decision makers can act upon. The value is not limited to customer engagement and can extend to create better engagement internally with stakeholders, people, managers, employees as well as throughout the ecosystem with partners, suppliers, and others that impact success.

With its main operations based out of Seattle, WA and in Valencia Spain, Customerville offers an advanced survey tool which transforms data into an interactive Design-Driven Feedback™ platform. The offering is designed to generate significantly higher engagement and response rates from customers and address the declining feedback rates resulting from the quarter of a trillion surveys sent out globally every year. Customerville has a comprehensive solution that integrates feedback collection, analysis, distribution, and action into a single, interconnected platform, to help understand and improve CX.

Further Reading:

• Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
• Read more about IFS on Field Service News @ https://www.fieldservicenews.com/ifs
• Find out more about IFS @ www.ifs.com/
• Learn more about Customerville @ www.customerville.com
• Follow IFS on Twitter @ twitter.com/ifs

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