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ServicePower Realizes Significant Growth in 2020

ServicePower Realizes Significant Growth in 2020

Leading Field Service Management Company Grows Customer Base, Implements New Products and Expands Partnerships

McLean, VA, January 5, 2021 – ServicePower, a leading field service management software company focused on transforming in-home service experiences, today announced SaaS ARR growth of 35% in 2020, bringing strong momentum into the new year.

As part of this growth, ServicePower achieved a number of major milestones in 2020, including:

  • Being named a Visionary in the Magic Quadrant for the fourth time by Gartner
  • More than 35% total SaaS ARR growth year-over-year
  • Sales order growth of SaaS products by more than 400% year-over-year
  • Gross customer retention of 99%
  • Realizing significant growth in the insurance, retail and product warranty marketplaces, to include companies such as Liberty Mutual, Lowe’s, and Amynta Group
  • Significant investments in products including the launch of:
    • ServiceInsight, a dynamic rules engine enabling customizable service delivery rules to automate intelligent routing of jobs between employed and third-party workforces.
    • ServiceEmpowerment, enabling technicians to adjust their own schedules based on domain knowledge, availability of parts and proximity to jobs, in addition to performing in-field triage.
  • The launch of ServicePower HUB, a new solution for small and midsized organizations. Initially there will be two versions of the solution:
    • ServicePower HUB Lite, a free application available shortly to all servicers in ServicePower’s existing network. These service organizations will transition to the new platform for free and have access to ServicePower assigned jobs and process payments.
    • ServicePower HUB Pro, a subscription-based application for servicers to receive jobs, manage cash-on-demand opportunities, schedule work, engage with customers and more.

“Despite 2020 presenting many challenges, ServicePower was fortunate to have had a very strong year. This success has accelerated our momentum of transforming service experiences for global companies across industries such as manufacturing, retail, insurance, home warranty and third-party administration,” said Frank Gelbart, chief executive officer, ServicePower. “With the increased need for innovative virtual solutions, organizations are demanding more functionality from their field service management platforms. ServicePower’s growth indicates that the market values our solutions in transforming the customer experience for home services globally.”

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About ServicePower:
ServicePower is a leading field service management software company focused on providing an exceptional customer experience, while delivering significant operational efficiencies. Trusted by field service organizations around the world such as GE Appliances, LG, AIG, Allstate, and Siemens, ServicePower offers the only SaaS platform that helps companies efficiently manage both employed and contracted workforces. ServicePower also offers a fully managed network of contracted service providers to enable on-demand field service delivery in urban and hard-to-reach locations across North America and Europe.

Media Contact

ServicePower
Heather Mills
Director, Corporate Marketing
h.mills@servicepower.com

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