PTC Applauded by Frost & Sullivan for Delivering ServiceMax Field Service Management Technology that Optimizes Operations of Energy Companies

ServiceMax FieldFX offers innovative field service management software that boosts profitability and enhances the efficiency of global oil and gas companies.

SAN ANTONIO, May 24, 2023 /PRNewswire/ -- Frost & Sullivan recently researched the oil and gas (O&G) field service management (FSM) industry and, based on its findings, recognizes ServiceMax (a PTC technology) with the 2023 Enabling Technology Leadership Award. ServiceMax delivers asset-centric service management software solutions that maximize the productivity, financial impact, and user experience of OEMs, operators, and service providers in asset intensive industries. This award is recognizing the results that have been achieved in the O&G FSM industry.

The company's tools empower customers to manage their field operations by optimizing FSM, minimizing revenue leakage, and streamlining billing processes with pioneering FSM technologies. ServiceMax's software enables users to accelerate communication between field operations, accounting, and back-office management with first-class end-to-end tools, such as ServiceMax FieldFX and ServiceMax Core.

These tools update, store, and manage customers' work, personnel, and equipment data, with convenient features that provide outstanding efficiency and reliability. For instance, ServiceMax FieldFX includes a seamless field management solution for energy companies to reduce equipment downtime and deliver greater process efficiency while ensuring field and office teams stay connected during operations.

"With its customer-led innovation strategy, ServiceMax offers a best-in-class FSM solution that helps O&G clients to improve efficiency and performance while minimizing revenue leakage by ensuring that clients' teams stay connected at all times and that all work that is performed is invoiced and billed appropriately," said Mahesh Radhakrishnan, Senior Industry Analyst at Frost & Sullivan.

The ServiceMax team works hand-in-hand with its customers to support them with tailored assistance to ensure the most effective use of its O&G FSM solutions. The company provides 24-hour assistance and rapid incident response, demonstrating its commitment to helping customers maintain their operations in the field seamlessly. ServiceMax, therefore, ensures a smooth implementation of O&G FSM solutions and improves its customers' performance while maintaining a customer-centric approach.

The company currently outpaces its competitors in the O&G market by leveraging its expertise, addressing market gaps, and helping companies face ever-evolving industry challenges. As a result, ServiceMax's superior field management solutions are expected to continue leading the way in the O&G FSM industry.

"The company goes to great lengths to ensure a seamless implementation of O&G field service management solutions. The company's experts have hands-on technical expertise in the O&G space. They meet with clients first to evaluate their specific requirements," noted Maksym Beznosiuk, Best Practices Research Analyst at Frost & Sullivan.

Each year, Frost & Sullivan presents this award to a company that develops a pioneering technology that enhances current products and enables new product and application development. The award recognizes the high market acceptance potential of the recipient's technology.

Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

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