ServiceMax Strengths, Domain Expertise, and Key Differentiators
Built on the Salesforce platform, ServiceMax offers a suite of field service applications that provide customers a complete view of their assets, enabling them to run more profitable, efficient service operations in complex, asset-intensive industries. ServiceMax offers two product lines, ServiceMax Asset 360 for Salesforce, and ServiceMax Core, both of which support the Field Service Management market and both of which are offered on the Salesforce platform. Asset 360 is specificially an add-on to Salesforce's native Field Service capability, enabling customers to get the "best of both worlds", with appointment-centric capabilities from Salesforce, and asset-centric capabilities from ServiceMax, all on the #1 CRM platform in the world. All of ServiceMax’s field service management capabilities are purpose built for asset-centric industries, offering features, services, and integrations (such as IoT for connected field service) that help customers improve asset uptime with optimized in-person and remote service, boost technician productivity with the latest mobile tools, and deliver metrics for confident decision making. ServiceMax is known for it's thought leadership and industry expertise in FSM, particularly in verticals such as medical device manufacturing, industrial manufacturing and energy. All product lines support both employee technicians and service contractors, and include embedded capabilities to enable real-time collaboration (Zinc) to better support technician troubleshooting and knowledge and enable remote support directly with customers.
ServiceMax Recent Developments
In February 2020, ServiceMax announced $80 million in growth funding led by new investor Salesforce Ventures and existing investor Silver Lake. ServiceMax, while launching a new offering, ServiceMax Asset 360 for Salesforce, available from November 2020. ServiceMax Asset 360 for Salesforce will deliver a 360-degree view into install base, service contracts and asset performance to maximize equipment uptime and reduce maintenance costs. This advanced insight, natively developed within Salesforce Field Service, will empower customers to shift from selling products to adopting outcome-based strategies that propel businesses forward.
ServiceMax Mergers and Acquisitions (M&A) Activities
In February 2019, GE Digital and Silver Lake announced an agreement for GE Digital to sell a majority stake in ServiceMax, a provider of cloud-based software productivity tools for field service technicians, to Silver Lake. Under the agreement, GE will retain a 10% equity ownership in ServiceMax. Since GE Digital acquired the company in 2016, ServiceMax has continued to invest in its technology and delivered growth that has outpaced the market over the past two years. ServiceMax and GE Digital have also entered into a reseller agreement to ensure ongoing collaboration to serve their joint customers, including GE’s industrial business units, and plan to continue to deeply integrate their technology offerings.
In collaboration with Silver Lake, ServiceMax will enjoy increased agility to accelerate its growth initiatives, pursue new strategic partnerships and execute a dedicated Field Service Management agenda. ServiceMax offers cloud software tools that improve the productivity of complex service and equipment-centric business operations for over 400 corporate customers across dozens of industries. As a separate company, ServiceMax will have the strategic focus required to penetrate the vast $34 billion global Field Service Management software market opportunity. The majority of the approximately 39 million field technicians globally who install, maintain and repair machines do not currently have access to any Field Service Management software such as ServiceMax.
ServiceMax Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying ServiceMax applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of ServiceMax and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified ServiceMax Core customers.
Ownership: - Silver Lake Partners
Number of Employees: 600
ServiceMax Key Enterprise and Cloud Applications
ServiceMax Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
ServiceMax Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
ServiceMax Enterprise Applications Revenues By Functional Markets, $M:
ServiceMax Enterprise Applications Revenues By Verticals, $M:
ServiceMax Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
ServiceMax Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
ServiceMax Customers - Breakdown by Geo, Size, Vertical and Product
No. of ServiceMax Customers: 450
No. of ServiceMax Enterprise Applications Customers: 450
No. of ServiceMax Cloud Customers: 450
No. of ServiceMax Cloud Subscribers: 400000
More than 450 companies, and over 400,000 users across the globe have turned to ServiceMax to help them keep the business running. The customers are representing more than a dozen industries, and feature companies ranging in size from the largest global brands like Philips, Sony, Bayer, Pitney Bowes, to mid-sized organizations looking to grow their service businesses.
Some of ServiceMax's customers are Mechdyne Corporation, Inspecta, Tyco Integrated Security, SPP Pumps, LiftOne, Thermo Fisher Scientific, Hexagon Manufacturing Intelligence, Eastern Lift Truck Co., Al Salem Johnson Controls, Exide Technologies, Arbon Equipment Corporation, 3D Systems, Tandem, DISH, Schneider Electric, GE Power Europe, and many more.
ServiceMax Market Opportunities, M&A and Geo Expansions
In February 2020, ServiceMax raised $80 million in growth funding led by new investor Salesforce Ventures and existing investor Silver Lake. This funding has led to ServiceMax Asset 360 for Salesforce, which ServiceMax sells alongside Salesforce Field Service in a joint selling motion. This new product has the opportunity to greatly expand ServiceMax's reach in new industries and use cases.
In February 2019, ServiceMax acquired Zinc, a company which provides a frictionless way for service workers to get and share knowledge in real-time. Building on an initial integration between the two companies began in April 2018, which later led to acquisition. The acquisition enables ServiceMax to expand its Service Execution Management platform with the only offering that allows customers to benefit from communications functionality tailored to meet the challenges of the service workforce.
ServiceMax Risks and Challenges
After having breaking record customer acquisitions in 2019, the question is will ServiceMax be able to continue expanding at this speed.
ServiceMax Ecosystem, Partners, Resellers and SI
ServiceMax has forged this extensive set of partner relationships of over 50 strategic alliance and certified partners globally. ServiceMax which provides customers a top-tier set of systems integrators and software developers with which to interface. Current SI partners include global companies (such as Accenture, CapGemini and Tata Consultancy Services), regional integrators (including Bolt Data, NEC, Techedge, and more), and strategic partners (BearingPoint, GE Digital, Salesforce and more). An impressive list of technology ISV partnerships also helps ensure that ServiceMax customers obtain the capabilities and features they require. Current ISV partners include companies like Aquant, Nintex, and ProntoForms.
ServiceMax Cloud Infrastructure Insights
Subscribe to read more about:
- ServiceMax Public Cloud and Infrastructure (IaaS)
- ServiceMax Platform (PaaS)
- ServiceMax Application Delivery
- ServiceMax Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:https://www.appsruntheworld.com/About Us
Copyright © 2021, APPS RUN THE WORLD