ServiceMax Survey Underscores the Far-Reaching Impact of Comprehensive Service Execution Management
Report Highlights Improvements Beyond Traditional Service Efficiency
PLEASANTON, Calif., July 15, 2019 /PRNewswire/ -- ServiceMax, the leading provider of cloud-based software for service execution management, today revealed the results of its new survey of customers to better understand how real-world organizations benefit from service execution management technology – and areas where even the most advanced organizations can improve, including measurable impact on key performance indicators such as Net Promoter Score (NPS) and employee engagement. Partnering with market research consultancy Wakefield Research, the ServiceMax Impact Report analyzes the impact that service organizations track by leveraging ServiceMax's field service management and asset service management solutions. Further, the report shares insights for service leaders to help them go beyond productivity and efficiency gains and rethink approaches to workforce management, asset service strategies and customer experience that drive service transformation.
Today's service leaders and their technicians in the field need the right tools and knowledge to keep critical equipment running – and to exceed customers' ever-changing expectations for uptime and support. Service jobs take many forms – a field service technician drives three hours to a remote hospital to perform preventive maintenance on an MRI machine; the head of security at an office building calls their maintenance team to fix a broken surveillance camera; an aviation MRO crew waits in a hangar to perform planned maintenance on a 787 jet engine – and these service calls all require specialized skills, effective logistical coordination and varying levels of planning to ensure the job is executed effectively and efficiently.
Service is not a one-size fits-all industry. This year, survey results reveal companies that have started their digital service transformation journey are seeing impact across their service business and bottom line. By providing digital tools that engage the service workforce, provide visibility into the install base as maintained in the field and address increasing demands for a seamless customer experience, ServiceMax customers are able to provide insight and impact to board level initiatives.
Highlights from the survey, which showcase average business impact for customers using the ServiceMax platform, include:
- 25% increase in service revenue
- 17% reduction in service costs
- 20% increase in Net Promoter Score
- 21% increase in contract renewals
- 12% increase in equipment uptime
- 29% increase in employee satisfaction
- 23% improvement in technician productivity
- 22% increase in workforce utilization
"With ServiceMax, we've been able to capture lead generation in the tool and they can pass leads straight over to the sales organization in real time. Lead generation has increased dramatically," said Stephen McPhee, Head of Americas – Lab Water, MilliporeSigma. "Engineers feel more satisfied on a day in and day out basis because they are making a difference when they're passing a lead to the sales organization. Revenues have been increasing as a result."
"At ServiceMax, our mission is to help all service organizations run profitable, productive and competitive service operations," said Neil Barua, CEO of ServiceMax. "We're honored to work with our customers every day to make this mission a reality and we're incredibly happy to hear how the ServiceMax platform is instrumental in improving our customers' service execution management strategies and abilities to support their own clients."
A comprehensive service execution management solution, such as ServiceMax, helps organizations across industries improve the productivity of complex, equipment-centric service and achieve quantifiable results, including dramatic service revenue growth, increased customer satisfaction and a reduction in compliance incidents.
To learn more, read the full ServiceMax Impact Report.
Methodology
More than 450 companies and 350,000 technicians depend on ServiceMax to service over 200 million assets around the globe. Each year, ServiceMax surveys customers to better understand how real-world organizations benefit from service execution management technology—and areas where even the most advanced organizations could improve. ServiceMax partnered with Wakefield Research to survey customers globally via an online questionnaire and phone calls between March-May 2019. Participants represent the diverse nature of equipment that service organizations install, repair, and maintain. Unless otherwise noted, the metrics cited reflect an average of customers' results with ServiceMax.
About ServiceMax
ServiceMax is the global leader in Service Execution Management, offering cloud-based software that improves the productivity of complex, equipment-centric service execution. Enterprise companies across the globe have turned to ServiceMax to help them keep the world running. For more information, visit www.servicemax.com.
SOURCE ServiceMax
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