Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - SERVIOPTIMAL (The Global Marketplace for Optimized Field Work Delivery)

Teaser

\"SERVIOPTIMAL (Field Service Work Optimization Manager) configures a new work order market, putting in contact the providers of technical services and the clients (persons or machines), demanding technical services. It is a new business tool, providing support to companies in...

Summary

\"SERVIOPTIMAL (Field Service Work Optimization Manager) configures a new work order market, putting in contact the providers of technical services and the clients (persons or machines), demanding technical services. It is a new business tool, providing support to companies in the area of field service management (FSM), like Home Health Services, Operation & Maintenance, etc. On the provider side, it improves its operational efficiency and gives them a huge market to serve. On the client side, it gives them the better price and service quality. SERVIOPTIMAL is a Software as a Service (SaaS) tool, powerful, secure, scalable, easy to configure and integrate in multiple environments, that implements state of the art algorithms for the optimization of resources, artificial intelligence, and the newest software technologies to achieve the better performance and user experience in desktop and mobile apps.

In 2013/14, Gartner analyzed the technologies for FSM and positioned them as strategic in its \"\"Magic Quadrant \"\", assigning them a high capacity for growth. Furthermore, it was estimated that there is a penetration of FSM tools of only a 25%, and Europe can gain more market share. Moreover, the growth of “internet of things” (more than 50 billion devices in 2025) will act as a “killer application” to demand the service.

SERVIOPTIMAL is led by Electrónica Saltó, S.L. (ESALTO), a SME working in FSM field during the last 20 years, with a turnover of >€10 million, and a staff of more than 200 people. At the present, it is available a fully functional prototype (TRL=7), that is being tested by ESALTO and some potential clients. ESALTO has been investing during a lot of years and now has to enter in the commercial feasibility stage. To decide the new steps to follow and to validate the business model, ESALTO has developed a full feasibility analysis which has studied the feasibility in the technical, legal, and economical areas, besides of the market options.\"

Work performed

The feasibility study has covered five areas: Technical, Economic, Legal, Operational and Project Scheduling, developing a Business Plan. The work done and main results are:
• Technical feasibility: the current characteristics of the platform have been analysed from several points of view: Security, scalability, usability, integration with other systems (as ERP or payment systems). After doing a detailed analysis of many topics, the main improvement needs have been detected.
• Market assessment: the market has been studied and segmented at Spanish, French, Italian and German level. The volumes of potential users and potential work orders have been quantified to evaluate if the business could be feasible.
• Competence: A large number of companies has been studied in detail. We have looked at the look and feel of their applications, their prices, or their business models. It has been done in two segments for field service management: Tools and Markets.
• IP and Risk analysis: A revision of the intellectual property issues has been conducted. Moreover it has been identified a full risk analysis with some mitigation plans for the more important risks.
• Exploitation and Business Model: It has been analysed the business model to deploy from different point of view, using the CANVAS model.
• Economic feasibility: A complete forecast of incomes, investments, and expenses has been done. After it, it has been constructed the Profit and Loss document, a general Balance and a free Cash Flow estimation to know the financial needs.
• Work Plan: A work plan has been defined. It has been detailed the needed tasks to continue evolving the present product and have been planned
• Customer Validation: It has been performed a market revision, trying to check which are the expectations of our potential customers and the value proposition they want.

Final results

The main result of the work done during the phase 1 of the SME Instrument is that we consider feasible the SERVIOPTIMAL business model. The business model of SERVIOPTIMAL is not present in the market and we have a business opportunity. Besides of this, the competence is giving a very different value that the one will be given by SERVIOPTIMAL.
We have foreseen an economic situation where we grow till nearly 70 professionals and an income of around 10 Million euro, after 10 years of deploying the business. Furthermore, the needed investment can be recovered in around 5 years, and after this period we can give to SERVIOPTIMAL shareholders a very good profitability.
To achieve it, we have to develop some improvements over the present platform so that the market model can be implemented, and get financial support that permit us to cover the needed initial investment. At the present we are in the way, thanks to the support of the European Commission.

Website & more info

More info: http://www.esalto.es.