Earlier this year, Boston-based PTC announced that it had completed its acquisition of ServiceMax from an entity majority owned by Silver Lake. The acquisition added  important field service management (FSM) capabilities to PTC's closed-loop product life cycle management (PLM) and digital thread offerings, according to the company. ServiceMax provides a comprehensive suite of cloud-native FSM capabilities for servicing complex long-lifecycle products, including managing information about serviced products, creating and managing work orders, and scheduling and dispatching technicians. Product manufacturers increasingly view their product-related service offerings as an important business strategy for maintaining product performance, increasing customer satisfaction, driving revenue growth, and expanding profitability.

"Completing the ServiceMax acquisition ushers in the next era of PTC's closed-loop PLM strategy," according to Jim Heppelmann, President and CEO, PTC. "With the ServiceMax FSM suite in our portfolio, the solution set we can now offer for the service part of the product life cycle is one of the broadest in the industry. We look forward to expanding the ServiceMax business globally and bringing these important product service capabilities to our customers."

"ServiceMax and PTC have a longstanding relationship rooted in the common profile of our customers, the natural synergies of our products, and a shared understanding of the importance of product data at different stages of the life cycle," according to Neil Barua, CEO of ServiceMax, which has been headquartered at Hacienda since 2019. "PTC has a strong and consistent track record of success, and now following the growth and innovation we've achieved during our partnership with Silver Lake, we're excited for the ServiceMax team to strengthen the service offerings of PTC's digital thread and closed-loop PLM portfolio."

As partners since 2015, PTC and ServiceMax both support manufacturers of complex, highly configured products for the medical device, industrial products, aerospace, and related verticals. These manufacturers view field service as a strategic part of their businesses to maintain product performance, extend their products' life cycles, increase customer satisfaction, drive revenue growth, and expand profitability. ServiceMax provides a comprehensive suite of cloud-native FSM capabilities built on the Salesforce platform. These capabilities include managing all relevant information about serviced products. That includes product description, serial number, service history, and more as well as creating and managing work orders and scheduling and dispatching technicians. ServiceMax's FSM capabilities are also closely integrated with Salesforce's customer relationship management system, which bridges a deep understanding of the product with an equally deep understanding of the customer.

ServiceMax's FSM capabilities complement PTC's entire digital thread portfolio: leveraging product definition data from PTC's Creo and Windchill solutions, technical publishing capabilities from PTC's Arbortext software, service parts management capabilities from PTC's Servigistics software, IoT and digital twin capabilities from PTC's ThingWorx solutions, and augmented reality capabilities from PTC's Vuforia software. For example, by remotely monitoring connected products with ThingWorx, customers could proactively detect service needs and automatically generate service orders in ServiceMax. Service technicians could leverage 2D work instructions from Arbortext or 3D AR work instructions created in Vuforia that are derived from the product's digital product definition information created in Creo and managed in Windchill. Technicians could also leverage a more detailed understanding of service activities to better optimize spare parts inventory with Servigistics.

For more information about ServiceMax, please visit www.servicemax.com.