Going For The “Gold” Is An Olympic Event — Especially for Services Organizations!

In light of the current proceedings of the Summer Olympics in Rio de Janeiro, I thought this piece would be relevant to all those Services Organizations striving to be “World Class” (i.e., “going for the Gold”)

Even Gold May Have a Silver Lining

For Field Services Organizations, “going for the gold” may mean very different things. For some, it may mean nothing more than struggling to generate increased service revenue (i.e. “gold”). For others, it may mean attempting to upsell existing service level agreement (SLA) accounts from “bronze” to “silver” to “gold” levels (is anyone out there still offering “platinum”-level services?). However, another good way to define “gold” levels of service performance is to compare your organization to the athletes striving for their own version of “gold” — an Olympic gold medal!

The Olympic and the services communities share many things in common, ranging from striving to attain perfection to generating a profit after the scheduled event is over. However, they also share another very important attribute in that both communities typically go into an event (e.g. a 200-meter freestyle or an on-site service call, etc.) with some pre-event expectations.

For example, Michael Phelps and Katie Ledecki are, arguably, the world’s best male and female swimmers and, as such, went into the 2016 Summer Olympics in Rio de Janeiro with extremely high expectations. However, it was never a certainty that each would win Gold medals in all of the competitions for which they were qualified to compete. Nonetheless, the expectations were high for each swimmer — even before they arrived in Rio.

While Michael Phelps ultimately ended up winning five Gold and one Silver medal; and Katie Ledecki won four Gold and one Silver medal, each are still acknowledged as the best of the best in their respective fields.

The same situation also exists for services organizations. If your organization is one of the larger ones in the field or has won numerous performance awards in the past, the community will expect it to perform like a world-class provider (i.e. one that is able to meet its customers’ total service needs while delivering world-class levels of performance). By performing reasonably well in the past, the marketplace will also expect you to also perform well — and even better — in the future. The bar is constantly being raised.

For Michael Phelps, the defending champion in the previous two Summer Olympiads, the prospect of not winning several gold medals was unthinkable – although he did not seem to be all that phased that he had to share his Silver medal with two other swimmers. He has won both Gold and Silver medals before, and performed about the same in his most current Olympics.

For Katie Ledecki, for whom this was her first (and, possibly, last) Olympics competition, the bar has been raised again for all female swimmers who will ultimately enter the Olympics in her wake. World class does not necessarily mean “perfect”! There can still be a Silver lining wrapped around your Gold standard.

By the time this Blog post is published, it is also certain that other gymnasts — from the U.S., and around the world — will excel in their competitions as well. However, merely having the goods does not assure Gold in the Olympics — and it is exactly the same for services organizations. You still need to execute — and strive to be as close to perfect as you can.

The Role Of Social Media In Service

Finally, in this year’s Olympics, social media will be expected to take on an even more prominent role than in the past. Virtually all of the Olympic events will be accessible to viewers all around the globe through various forms of Cable and Broadcast TV, Social Media and other types of digital transmissions. As a result, Twitter, FaceBook, and independent blogs will, once again, take up the slack on presenting (and editorializing) all of these Olympics-related events — all in real time! Again, the similarities between the Olympics and the services community abound.

Just as many Olympians are encouraged by their trainers to communicate often — in real time — with their supporters and fans, so must the services community adapt to the practical uses and applications of the available social media. It is truly time to recognize that social media is not merely an acquired taste, but a way of life — especially when it comes to communicating about service.

The 2016 Summer Olympics are nearly over, but already, athletes from all over the world are preparing for the next summer games just four years away. All of the medalists for these upcoming games will ultimately win their respective races by first choosing a field, then acquiring the necessary resources and skills, preparing for the race, and aggressively moving forward.

This is also how most services organizations have historically approached service, especially with respect to meeting — and exceeding — customer requirements. However, you won’t necessarily need to have a medal draped around your neck to be recognized for good service — you simply need to perform at a level of performance that is higher than an ever-raising bar, and let your customers place their perceptual medals around your neck.

Selling Services – How to Recognize Customer Buying Signals

Understanding your customers’ needs, and knowing what is available for sale, complete one key equation; however, there is still one other key unanswered question: How can you tell when your customer is ready to buy?

Recognizing a customer’s buying signals is one of the most difficult things there is to teach. In fact, many will argue that this is an innate trait that only “true” salespersons are born with. Whether this is true or not is really only a side issue. The main issue is that every one of your customers and prospects sends out signals that you can rally around with respect to determining when they are ready to buy. Some will be “hard” signals that you can practically take right to the bank; although most will be “soft” signals that will vary from customer-to-customer, person-to-person, and situation-to-situation. Let me explain.

The various types of buying signals “transmitted” by your customers may typically be classified into the following categories:

  • Overt
  • Passive
  • Observed

Overt Buying Signals

An overt buying signal is the closest thing to a gift that you may ever receive from your customers. This is when the customer calls you, or comes right up to you, and says something like, “Our copier is pretty much shot, and it simply won’t handle all of our volume anymore. Don’t you guys have a newer machine that you think can do the job for us?” Or, “You know, our machine will be coming off warranty soon. Don’t you guys offer some kind of extended warranty contract? If you do, we’d really be interested.” While these opportunities may seem just like manna fallen from the heavens, the problem is, if you do not take immediate advantage of them, the opportunities themselves may either fade over time, or go away altogether.

For example, given an opportunity like one of these, it may simply be a matter of speaking briefly with your customer, showing him or her a new brochure or directing them to your company’s web site, and casually discussing the enhanced features of a new system or service offering on a face-to-face basis. However, if your response is more like, “I have a few ideas. Why don’t I get back to you in a week or two when I’m not so busy, and maybe we can work out something.” By the time a couple of weeks go by, the thought of acquiring a new piece of equipment or service offering may have moved from your customer’s top-of-mind to their back-of-mind – and once there, it may involve much more work on your part to get it back up front.

Overt buying signals do not happen all the time; but when they do, you pretty much have to take advantage of them as they occur, rather than run the risk of having the customer push it far back into the recesses of his or her mind – or even worse, allowing them to have the same conversation with a competitive vendor’s sales or services person.

Passive Buying Signals

Passive buying signals may not be as obvious; however, they are still fairly easy to identify, and even easier to take advantage of. The tell-tale clues that your customers may give to you typically manifest themselves in comments or questions such as, “Man, this old machine keeps breaking down, and breaking down, and breaking down. I don’t know what I’m going to do if it shuts down during one of our big production runs”; “Ever since this machine came off of warranty, whenever we call for service, we end up paying you guys on a time and materials basis. There’s got to be a better way”; or “I don’t know. It just seems like our other division on the next floor gets their copy work done a heck of a lot faster than we do. I think they have a new machine up there, and they just keep making us look bad in comparison”.

Any of these comments or questions represent just as valid a selling opportunity as any of the overt buying signals we just talked about earlier. The only real difference is that, in these cases, you will typically need to be the one who initiates the conversation about replacement units, new machines, and/or enhanced service level agreements – and not the customer.

Even so, you may still be surprised as to how receptive your customers will be in having such a conversation. What’s more, since you already understand your customers’ needs and requirements for business imaging systems and equipment, and you know what your company has available for sale, you can probably step right in, provide some specific suggestions or recommendations, and convert a potential customer problem into a potential company sale.

Observed Buying Signals

Sometimes the customer does not even have to say a word. Since you already visit the customer’s site, on average, about once a month or so, you are probably in an excellent position to observe how one or more of their machines are routinely being overused, misused, or otherwise used improperly. You have probably also seen some of your customers reach new levels of frustration in dealing with machines that simply cannot ratchet up to their increased levels of volume or throughput, or effectively deal with emerging areas of business imaging applications.

We have all heard the expression that “a picture is worth a thousand words”. In both the overt and passive buying signal situations, it will primarily be the words that are either conveyed to you, or conveyed by you to the customer, that will ultimately lead to the potential sale. However, in an observed buying signal situation, it is the “picture” you observe at the customer site that will ultimately tell you the “story” that you will need to focus on in order to ultimately make the sale.

At the end of the day, it really does not matter whether the buying signal you get is overt, passive, or simply observed – what does matter though, is that you get the signal, you know what to do with it, you take advantage of it, and you serve effectively in your role as an intermediary between what your customer needs, and what your company offers.

Smarter Decision-Making to Improve Field Service Management: The Implications of Analytics on Field Service Business Models

[A brief summary of the discussions that took place in a series of five Astea-sponsored “Blitz” sessions conducted at Copperberg’s Field Service Summit 2016 held at Oxford University, UK on 12 April, 2016.]

The attendees at Copperberg’s inaugural Field Service Summit 2016 Conference earlier this year in Oxford, UK represented a microcosm of the greater UK/Europe and global Field Service Management (FSM) communities. Although comprised of more than 100 major and niche Field Services Organisations (FSOs), from a variety of vertical industry segments, and offering oftentimes disparate services portfolios, the discussion participants shared a number of common thoughts regarding the key aspects of managing a services business – especially with regard to data analytics!

From the series of five “Blitz” interactive discussion sessions, a clear pattern of thoughts, perceptions, preferences and intentions were presented by leading UK/Europe services organisations beginning, of course, with an acknowledgement that since traditional service models are still being used by many (i.e., too many?) UK/Europe FSOs, the Customer Experience outcomes will need to improve across the board, as customers want more insight into all assets and services that impact their operations. It is safe to say that this will require an upgrade to existing data analytics capabilities – also, across the board.

For some, cross-training for older and more experienced engineers will be required; while for others, there will be a need to integrate the “newer” engineers (i.e., new hires, etc.) with the organisation’s more experienced, older, engineers who typically have already established long-term relationships with their respective customers. One discussion participant cited that his company’s field engineers are presently being backed-up by a second line in the organisation’s back office, comprised exclusively of experienced engineers. This has been very helpful thus far – especially in support of the company’s newest hires.

It was also universally acknowledged that it typically takes about two years or so to successfully transfer knowledge to new engineers, as cited by multiple session participants – and that most companies would like to see even more information gathered and distributed directly from the customer’s devices/assets. In any event, there was a general acknowledgement that there would be much to gain by performing more repairs/fixes remotely.

Other specific activities identified as being critical to the overall well-being of the services organisation included:

  • Selling services – driven by customer procurement and, therefore, essentially predicated on the basis of price (i.e., agreed by a quorum of attendees, that price directly impacts the bottom line).
  • Performing more fixes remotely – however, requiring that customers need to become more involved in the overall service process.
  • Generating more leads from the field – directly from the field engineers.
  • Problem Management/Root Cause Analysis – targeted to improve first time fix rates.

In general, it was also acknowledged that first time fix rates need to improve, overall. To do so, the best path forward would be to, first, try to resolve the issue remotely before dispatching a field engineer. In most cases, traditionally, service calls have been assigned directly to the field engineer, resulting in “too high” service costs. Performing fixes remotely is seen as the best example for addressing high service costs.

One company has implemented a connected services model that uses data gathered from the remote monitoring of the customers’ assets to help their field engineers to provide higher levels of support for their customers. They typically use the collected data gathered via remote monitoring to prevent otherwise unnecessary service visits – and asset downtime. However, in doing so, they cite the importance of mentoring new engineers by the company’s older, more experienced, engineers.

Other individual company case studies referenced include:

  • Company A – asked engineers to return from pension in order to (1) benefit from their collective retained asset knowledge, and (2) transfer that knowledge to the company’s newer engineers.
  • Company B – as each of the company’s engineers has already established their own respective “site ownership”, they are asked to assist in the transference of this knowledge to new engineers approximately six months before retirement, using an internal Wiki system that also includes instruction videos, etc.
  • Company C – recognises the importance for their field engineers to understand each customer’s individual and unique business processes and, as such, believes that the retention of knowledge relating to their customer base’s older assets is key for them to cultivate, retain and pass on to newer engineers. They are encouraged to plan for cultivating this knowledge, and working in conjunction with their customers with respect to suggesting upgrades and/or new systems, etc.
  • Company D – recognises that it is increasingly dealing with an ageing workforce, and that engineer “churn” has grown higher over the past four years, or so; as a result, there is a growing need to establish a framework for retaining this knowledge.
  • Company E – encourages field technicians/engineers to be part of their new product design review board. By doing so, they believe they can help to prevent situations where a new material or part is causing too much labor in the field when installing the product, etc. One example was cited where a cheaper part was manufactured/fitted to a new equipment model, causing three additional days of installation work due to the complexity and incompatibilities experienced during the final installation.

The importance of using Data – but, not necessarily Big Data – in support of the Field Service organisation was also discussed as one of the key components of Field Service Management (FSM). Also discussed was the growing importance and capabilities of the Internet of Things (IoT) side of the equation, particularly in terms of how it can be used to collect and generate vast amounts of data. While all participants expressed their preference for having that capability, most believed that they would also require a strong reporting department to generate and distribute the resultant reports for them – sanctioned and managed by the Service Department, rather than the Finance Department.

In all cases, the importance of data analytics was first and foremost in the minds of each of the participants. However, how to best manage the collection, analysis and distribution of the vast amounts of data that can be generated via the IoT represented the greatest challenges that they would expect to face moving forward.

[For more information on Data Analytics and a full array of Service Lifecycle Management (SLM) solutions for the Field Services segment, please visit the Astea Website at www.Astea.com.]

Real Time May Not Be Enough When Augmented Reality Can Make It Even More Real!

[Excerpted portion of our Feature Article published in the April 21, 2016 edition of Field Technologies Online]

Augmented reality may just be the “next big thing” in field service.

It hasn’t really been all that long since the field services community was introduced to the concept of “real time.” Prior to the introduction of real-time data collection, analysis, and dissemination, most field service organizations (FSOs) typically relied on batch-collected and processed data generally obtained from multiple sources over an extended period of time together with data often read and input by hand into numerous paper templates so they had to wait for the proper review and approval before the processed data could be distributed to relevant parties. Fortunately, those days are long gone!

Field Service Methods And Measurements Are Changing

However, real time may no longer be good enough for the global community of FSOs and their respective field technicians. As traditional KPIs (key performance indicators), such as Mean-Time Between-Failure (MTBF), have steadily shifted from measurements reported in numbers of days, weeks, or months just a couple of decades ago to practically “never” today for many products, this particular metric finds itself diminishing in importance and is no longer being measured by a growing number of service organizations. And even when equipment is about to fail, the easy availability of predictive diagnostics, remote diagnostics, and real-time communications has made this formerly important KPI nothing more than an afterthought for many FSOs.

This is where augmented reality (AR) comes into play. According to whatis.techtarget.com, “Augmented reality is the integration of digital information with the user’s environment in real time. Unlike virtual reality, which creates a totally artificial environment, augmented reality uses the existing environment and overlays new information on top of it.” Think of the “yellow first-down line” that magically appears when you’re watching a football game; that’s AR, in that it doesn’t create a “new” virtual reality, but, rather, enhances the perceptual reality that you, the viewer, are able to visualize while watching the next down take place. It’s not a new creation; it’s an enhanced reality that makes it easier to process what’s going on and what needs to be done next.

[To read the full Feature Article, please visit the Field Technologies Online Website at: http://www.fieldtechnologiesonline.com/doc/when-is-real-time-not-enough-when-augmented-reality-makes-it-even-more-real-0001?atc%7Ec=771%20s%3D773%20r%3D001%20l%3Da&utm_content=33205462&utm_medium=social&utm_source=twitter.]

Business Analytics in Support of an Effective KPI Program: The Importance of Data Analytics

From the results of the Strategies For GrowthSM (SFGSM) Field Service Management Benchmark Survey, updated in 2015, more than one-half (52%) of respondents cite that developing and/or improving the metrics, or KPIs, they use to measure field service performance is the top strategic action currently being taken with respect to optimising their organisation’s overall service delivery performance.

However, for Best Practices Field Services Organisations (FSOs) (i.e., services organisations that are already attaining levels of customer satisfaction at 90% or higher, and services profitability of 30% or greater) this figure increases to 61%. The percentage jumps even higher, to 64%, for UK/Europe-based services organisations; that’s right – more UK/Europe-based respondents cite their respective KPI programs as the top strategic action they are currently taking – moreso than the survey’s top-of-the-line Best Practices survey segment!

So, why is the establishment of a services KPI program so important? Mainly due to the targeted applications that most of these organisations have for using the collected, analyzed, measured and distributed data – basically for the following top reasons:

  • To improve field service
  • To make product design changes/improvements
  • To make manufacturing changes/improvements
  • To make changes to product documentation
  • To make purchasing decisions

Nearly as many respondents in the UK/Europe (i.e., 48%) also cite the use of a business intelligence/analytics solution as one of the top technology applications currently used to support their services operations – and another 39% cite knowledge management as a top-used application. However, few of them actually refer to these programs as “big data” – just, simply, business analytics!

What this proves is that, for most FSOs, data collection, analysis, measurement and sharing is not conducted merely for the sake of doing so – but, rather to:

  • Build, maintain and apply these data to a formal services KPI program
  • Distribute/share the collected and analysed data with the appropriate departments and individuals within the organisation
  • Establish and maintain an enterprise-wide knowledgebase from which all facets of services operations can benefit from – and build upon
  • Share the database/knowledgebase with all components of the enterprise (i.e., manufacturing/production, warranty management, forward and reverse logistics, etc. – rather than simply “holding the data hostage” within the FSM or Service Lifecycle Management (SLM) areas of the business
  • Use the data, and resultant database, knowledgebase (or, for the largest of organisations, data lake) to foster a more collaborative relationship between and among the key departments/divisions that ultimately have an impact on supporting the customer

But how big does your data really need to be in order to support each of these functions? The required size of the database, or knowledgebase, will depend largely on the size of the organisation, the volume of field service activity conducted on a regular basis, and other key measures of throughput that characterize the overall “size” of the organisation and its requisite data analytics needs. Similar types of organisations, with similar characteristics, but with order-of-magnitude differences in one or more key throughput factors may find themselves with totally different needs for data; big, small or otherwise.

The one thing to remember is that all services organisations need a minimum of data to support their respective operations. Call it what you will, but they will still need the analytical support contributed by a formal Key Performance Indicator (KPI), or metrics, program; the structure of a formal service call data activity repository; a Customer Relationship Management (CRM) database; accessibility to a centralized database, or knowledge bank to support management decision making; and all of the performance metrics and measurements required to evaluate and assess the organisation’s performance over time.

An effective business analytics program is what most organisations need – not big data, data lakes, or the construction of overly-sophisticated, cumbersome and highly inefficient knowledgebases. It should never be primarily a matter of how much data needs to be collected; but, rather, the ability to collect enough data to support the organisation’s overall business analytics goals, objectives and targets.

[Our thanks to Astea UK for commissioning this Blog on Data Analytics. For more information, directly from Astea, please visit their Website at www.Astea.com.

You may also wish to visit the Astea UK booth at Copperberg’s 2016 Field Service Summit in Oxford, UK, 12 April, 2016. For more information on the Summit, please visit the conference information Webpage at www.fieldserviceexcellence.co.uk.]

“7 Simple Strategies to Increase Revenue in 2016” – Our Take

[The following is a transcript of the “One Simple Strategy Recommended for Increasing Revenue in 2016” material we submitted to Field Service Digital in response to their request. The full interview was published in the December 18, 2015 issue of the magazine; however, only some of this material actually made the cut (i.e., there are six other industry experts who also had their say in the Field Service Digital piece).

Read our response first, then read the Field Service Digital piece to gain a perspective from among the seven of us. A link to the magazine is provided at the end of our Blog, for your convenience.]

One Simple Strategy to Increase Services Revenue in 2016

“The best services strategies are typically the simplest ones – particularly the ones that target improved service revenues and profitability. But, whatever the strategy, it should always follow a process of ‘Measure, Assess, Adjust & Track’ (MAA&T). What that means is, whether you’re looking at overall service operations, or individual components of service, such as warranty management, parts/inventory management, customer relationship management, or the like, you will need to, first, measure where you stand today, how you got there, and where you’re likely to end up if nothing else changes; second, assess what needs to be changed, modified, upgraded or replaced; third, make the necessary adjustments to facilitate – and in many cases, expedite – change, as appropriate; and fourth, track your progress over time as you implement new and/or revised processes, policies and procedures, or new technologies.

Supported through the ongoing review of input and feedback, the process then starts all over again on a virtual continuous loop, thereby fostering continuous quality improvement that goes directly to the bottom line.

Using warranty management as an example, a sound strategy might be to (1) measure its current contribution to the bottom line in terms of revenue generation and profitability, (2) assess alternative scenarios for process improvement; (3) make changes to the current program to stimulate improved revenue generation; and (4) track your progress over time. Then, you start all over again!

The old adage goes something like, “You can’t know how much you’ve improved if you don’t know where you’ve come from” clearly supports the MAA&T approach. And the ability to continue cycling through the process time after time allows this strategic approach to foster continuous quality improvement.”

[To read the full Field Service Digital article for which this information was prepared, please visit: http://fieldservice.com/2015/12/18/7-simple-strategies-increase-revenue-2016/.]

PTC’s SLM Market Strategy – Built Solidly on the Intersection of SLM and the IoT (and Its Partnership with ServiceMax Doesn’t Hurt, Either!)

[With permission; excerpted transcript from an internal PTC Podcast, recorded on October 9, 2015, by Bill Pollock, President & Principal Consulting Analyst, Strategies For GrowthSM (SFGSM).]

Foundation of PTC’s SLM/IoT Strategy

The most important component of PTC’s evolving strategy is that it is built on a foundation of powerful technology as well as its existing base of more than 28,000 customers. And upon this foundation, PTC provides a full suite of solutions to an expanding global marketplace. As a result, I believe that PTC has been able to leapfrog the competition in a number of ways:

  • First, through the early recognition that the adoption and use of the Internet of Things, or the IoT, will be pervasive and ubiquitous;
  • Second, that it will need to actually guide and help the industry understand the potential of the IoT. And by that, I mean, using a consultative sales approach to tell customers how to begin their IoT journey, as the customers may not actually know their respective needs themselves; and
  • Third, by continuing to build its portfolio of IoT-supported Service Lifecycle Management, or SLM, solutions to provide total support for its global customer base.

However, the success of PTC’s vision will ultimately lie in the execution. That is, its ability to build such an all-encompassing strategy on a solid footing to ensure homogeneity, consistency and, ultimately, acceptance by the global marketplace.

Early on, PTC recognized that the IoT would have the most significant impact on, and fastest adoption in, Service Lifecycle Management (or SLM). In fact, PTC CEO, James Heppelmann has repeatedly said that the first use case for IoT is SLM. Why would a manufacturer/OEM want to embrace an IoT strategy? The answer is to better serve its products – and, by doing so, its customers.

Accordingly, the company took several ground-breaking initiatives to prepare itself – and its customers –through a well-planned, and highly orchestrated, mix of internal development and external acquisitions.

PTC recognized that the pervasive adoption of the IoT in SLM would lead to a succession of sea changes that would ultimately change the industry forever – quickly, completely, and with little tolerance for laggards, late bloomers or followers. Further, based on the extensive analysis of market research conducted both internally, as well as by us at Strategies For GrowthSM, PTC foresaw the coming disruptive change, and took concrete steps to prepare itself, as well as its partners, and its customers.

For example, one shining moment for PTC in the SLM space was its January, 2013, acquisition of Servigisitics.

Acquisitions of Servigistics, ThingWorx and Axeda Systems

The Servigistics acquisition, in retrospect, was a critical component of PTC’s strategy to help manufacturing companies capture the enormous revenue potential in after-market services. It also set the stage for PTC’s vision in building out a technological infrastructure, based on the IoT, to enable these firms to transition to, and realize the big opportunities coming from, an outcome-based services strategy. This is generally referred to as “Servitization”.

Over the past year or so, the main message that the market is hearing from PTC is that it is “extremely serious about the importance of the IoT” – and that it is driven to strengthen its continuing leadership role by integrating the IoT into all aspects of service.

While PTC may have surprised many industry observers by acquiring ThingWorx back in December of 2013, in retrospect, that was the move that propelled PTC into the forefront of the IoT – and all of its numerous lifecycle management applications. The IoT is extremely important, not only to the company’s SLM solutions, but also to its PLM and ALM solutions. This acquisition, more than any other, served to communicate the following two messages to the services community in a big way:

  • First, it solidly positioned PTC as the global leader in each of its respective sectors within the Enterprise Lifecycle Management world (that is, Product/PLM, Service/SLM and Application/ALM, ).
  • Second, it clearly put the global business community on notice that PTC was placing the future of its entire solution portfolio in the connected hands of the IoT.

The acquisition of Axeda Systems in June of 2014, further bolstered PTC’s IoT hold on the marketplace by filling in one of the few remaining gaps in the company’s ability to support connected products, people and technology – that is, the software solution vehicle by which its IoT offerings can make their way into the marketplace.

Together, the ThingWorx and Axeda acquisitions have paved the way for PTC to execute on its pervasive IoT- based strategy. But there’s more to it that finally cements everything together – namely, the partnership that PTC has just forged with ServiceMax in April of this year. I believe this partnership represents the capstone of what provides PTC with the ability to fully support the global SLM marketplace.

The PTC-ServiceMax Partnership

ServiceMax and PTC share a common vision for changing the relationship that companies have with their customers by shifting service delivery from reactive, to proactive and predictive. The two companies have highly complementary technology offerings, and the combination of ServiceMax’s innovative service execution capabilities with the proven technical information, parts management and revenue optimization solutions from PTC stand to be unparalleled in the industry.

PTC’s Heppelmann has said that “Empowering the entire portfolio with Internet of Things (IoT) connectivity, will revolutionize service. Service organizations will now be able to capture new business, increase revenue and heighten customer loyalty faster, more effectively and with more ease than ever before.” And I believe that its partnership with ServiceMax will make that happen – not only sooner, but better, as well!

What the partnership brings to PTC and its customers is both a powerful and modern cloud-based field service management solution, fully supported throughout the implementation, management and delivery of services. For ServiceMax, the partnership broadens its portfolio with the addition of service information and parts management functionalities, extends its market reach to a global base of more than 28,000 PTC customers, expands its distribution channels multifold and, most importantly, empowers its entire portfolio through PTC’s state-of-the-art ThingWorx IoT platform.

But, why ServiceMax? ServiceMax was the first complete field service software solution to help companies of all sizes manage workforce scheduling, while also providing solutions for social, portals, and analytics – all delivered in the cloud, to any mobile device. And PTC offers the “book ends” to that critically important scheduling function: that is, technical information on one end; and parts management on the other end.

This combined functionality now allows customers to directly leverage product information to ultimately transform service from a reactive product repair function, to a proactive and predictive customer success function – all IOT-enabled, with the prospects of blowing everyone else out of the water. As a result, the company’s customers can expect to fully realize the promise of predictive service – as well as the lofty goals of Servitization.

With its corporate strategy built on the solid foundation of the intersection of SLM and the IoT, we can only expect PTC – and its customers – to continue to evolve as quickly as the IoT itself!