ServicePower Technologies Plc (AIM: SVR), a market leader in field service management technology, today announced that its investment in innovation has set its products apart from the competition, helping it win awards, significant new global business, analyst accolades and maintain a 100 percent client retention record in 2014, including 13 Software as a Service (SaaS) renewals.
2014 saw ServicePower embark upon significant investment in its technology solutions, the result was a connected platform for the field service value chain (the customer, dispatcher, technician, assets, parts, entitlement, business intelligence, and social collaboration). The platform utilizes the very latest social collaboration, mobile, information, cloud, and Internet of Things (IoT) technologies.
“Our investment in technology is paying-off. IoT, wearables, cloud, analytics, our customers can take advantage of these today” said Marne Martin, CEO of ServicePower. “The ServicePower difference is our wholly configurable, dynamic and connected workforce scheduling platform which also enables our clients to mix labor resources, including employed, contracted and on-demand, to adapt to their changing service landscape. Our competitors cannot beat our best in class Scheduling engine, nor can they intelligently mix labor forces. Our customers are demonstrating that they can accelerate business efficiency and customer satisfaction, while at the same time reducing costs. Our approach is clearly appreciated by existing and prospective customers with SaaS revenues increasing to 17%, a high client retention record in 2014, and an overall gross margin improvement of 47.5%.”
The company’s investment in globalising its technology means that it is securing larger contracts; one significant deal over five years is seeing a client deploy the ServiceScheduling solution in 20 countries. The analyst community has also been vocal on the company’s investment in technology.
“Technology vendors must embrace digital tools and the latest technological advancements to compete on innovation to turn data into insight,” said Aly Pinder, Senior Research Analyst at Aberdeen Group. “This is critical for the service management industry. The ability to connect assets via IoT is integral to the future of predictive service, enabling companies to act if a sensor detects a failing part before there is a disruption to service. Service excellence has evolved to demand that organizations move from a reactive to a proactive service model, reducing downtime to offer more competitive service levels to their customers.”
Additionally, product investments in enhanced optimization and travel logic, new mobile features, 3rd party dispatch and highly configurable warranty claims management, as well as robust business intelligence platform, are continually setting the industry bar for technology innovation.
With the groundwork laid in 2014 the innovation and investment will continue into 2015. Already ServicePower is partnering with one of the world’s leading research institutions, the University of Manchester, to further improve its scheduling algorithms.
“As we stated at the beginning of 2014, ServicePower will focus on technology and people, continuously innovating our product and investing in employees,” said Martin. “We will also continue to grow our partner engagement programme to reach more prospects and grow revenue.”
Other highlights included winning the 2014 M2M Evolution for IOT Excellence Award, being named as a Visionary by Gartner in its 2014 Magic Quadrant for Field Service Management and becoming the leading provider of managed service networks in the UK with its ServiceOperations solution.
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ServicePower, the acknowledged leader in Optimisation Technology, provides an innovative global, fully mobilised field service management software platform used by field service organisations such as Assurant Solutions, Mitsubishi, Farmers Insurance, AIG Warranty and Pitney Bowes to improve productivity and efficiency, intelligently schedule appointments, SLA and complex jobs, as well as parts. Our platform focuses on solving fundamental field service problems with patented routing optimisation, M2M connected services, 3rd party dispatch and warranty claim payments, cutting edge mobile technology, robust business intelligence and asset tracking.
ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information please visit www.servicepower.com