Report Highlights Improvements Beyond Traditional Service Efficiency
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.