Asset-intensive industries are increasingly under pressure to “do more with less”—to enhance asset uptime while lowering operating costs through productivity, all the while maintaining safety and compliance with a rapidly changing workforce. Operators in these industries are finding that their traditional enterprise asset management (EAM) solutions, which were designed primarily as “systems of record,” tend to underperform in execution-focused areas such as mobile enablement, contractor management, workforce management, and analytics and reporting. As a result, interest is growing in solutions that are focused exclusively on service execution, such as ServiceMax, that can complement or replace a legacy EAM, depending on the customer’s requirements.
ServiceMax originated in and helped define, the Field Service Management market that is increasingly overlapping with what has historically been considered the “EAM” market. Its original mission was to empower service workers on the front lines to deliver flawless service.
“ServiceMax’s mission today is to operate for the field service industry by removing obstacles, driving engagement and delivering solutions that help technicians and engineers quite literally – keep the world running,” said Neil Barua, CEO of ServiceMax.
The company’s cloud-based software now includes field service management, asset service management, and real-time communication with Zinc. As the only pure-play service execution vendor in the market, ServiceMax has a rich history of innovation, thought leadership and vision, including the company’s popular field service app which was designed in the field, for the field. This is a key area of differentiation from conventional EAM products which have relatively immature mobile functionality.
The addition of asset service management to the company’s comprehensive service execution platform was designed to address the growing need among asset operators for better service execution than what they are able to accomplish with EAM systems. To better address these needs, ServiceMax has developed new capabilities in crew management and project execution that, combined with existing strengths in mobile and connected field service, can help asset operators achieve better and broader outcomes than they can by extending legacy systems into areas that are not their strength but that have been core to ServiceMax from the origin. For example, GE has been one of ServiceMax’s earliest and largest customers, and its presence in multiple asset-intensive industries has informed ServiceMax’s product development to address the needs of not only GE’s service businesses but those of GE customers who operate assets. GE Power has shown in technician utilization and other customer outcomes that can be achieved with better service execution, through capabilities such as optimized resource management and mobile work order management.
ServiceMax is committed to continuing to deliver the most innovative and forward-thinking solutions available in the field service management market, helping customers to advance their service transformation journeys. This commitment to innovation is why companies that might historically have adopted an EAM system are now thinking more systematically about service execution and considering solutions such as ServiceMax. While ServiceMax is not typically considered an EAM solution, the company believes their inclusion in this list is validation that asset operators can benefit from a comprehensive service execution platform and realize better and broader outcomes, particularly in areas where EAM solutions are less mature.