Photo - ServisSoft (International Brand: WorkyBe)
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ServisSoft (International Brand: WorkyBe)

AI-Powered Cloud-Based Maintenance Management Platform

Turkey
Market: Auto Maintenance, Internet and IT, Production, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 27.08.2021
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Idea

ServisSoft/WorkyBe is a SaaS-based field & asset management platform that provides cloud-based integrated digital twin, predictive maintenance, and maintenance management software solutions.

Current Status

More than 60 companies in 13 different sectors manage manufacturing and maintenance processes with more than 1.5 million service records annually at more than 5000 service points through ServisSoft systems.

Some references;
Tchibo, Xiaomi, Omron, Turkish Airlines, Shimano, Beko, Atalian Global Services, Atlas Copco, DeWalt, Hotpoint-Ariston, Gold Master, SkyTech.

Market

There are companies that provide field service management or PdM services separately. ServisSoft is the only platform that provides predictive maintenance, digital twin, and maintenance management services in a single platform. This makes ServisSoft the only platform that can predict failures by processing both the dynamic data collected from the devices and the static data generated in the maintenance management main module. The output of this situation is higher failure prediction success.

Although ServisSoft can be used by companies from all sectors that have a maintenance or manufacturing department, our main target market is manufacturing, consumer electronics, energy-renewables, facility management, and companies with cold chain lines.

Approximately $3.1 Billion was spent on maintenance management software in 2020, and this amount is growing by 15-20% each year. Currently, only 5% of companies manage their after-sales services through digital platforms.

Approximately $6.8 billion was spent on predictive maintenance services in 2020, and this amount is growing by 30-35% every year. Currently, only 1% of companies benefit from predictive maintenance services in their service and production processes.

Problem or Opportunity

Problem:
Unexpected device failures and inefficient management of maintenance processes cause;
Manufacturing & service outages
Decrease in production capacity & quality
Mass product losses
Repetitive business processes
Personnel and resource costs

Solution:
ServisSoft/WorkyBe provides companies a cloud-based platform that helps them to manage personnel & teams, sub-services, devices, inventory, and customers from anywhere via web and mobile screens with WorkyBe and improve the maintenance and manufacturing processes.

With the predictive maintenance services integrated into the maintenance management platform, the technician is autonomously directed to the device before the malfunction occurs, and in this way, unexpected failures are prevented. Maintenance processes, on the other hand, are managed in detail and institutional memory is created regarding the process.

Solution (product or service)

ServisSoft is a cloud-based platform that developed with microservice architecture that expands and integrates easily also packed with an AI-powered module, SmartBe, which predicts malfunctions by analyzing the data collected from devices via sensors. Thanks to the “Definitions” module, our customers can add the desired sections to the desired part of the product which enables our customers to customize the product to cover their needs without requiring any special development process. The names of all sections in the product can be edited as desired by the user as well.

Competitors

Our main competitors are ServiceNow and ServiceMax but there are also competitors which provide field service management and maintenance management solutions through different platforms. If a customer candidate is not using this kind of software solution, they may use excel files or service receipts as a very inefficient substitute.

Advantages or differentiators

There are companies that provide field service management or PdM services separately. WorkyBe is the only platform that provides predictive maintenance, digital twin, and maintenance management services in a single platform. This makes WorkyBe the only platform that can predict failures by processing both the dynamic data collected from the devices and the static data generated in the maintenance management main module. The output of this situation is higher failure prediction success.

Finance

Revenue*
2021: 1.064.628 ₺ / 58 Customers
2020: 274.968 ₺ / 36 Customers
2019: 211.109 ₺ / 30 Customers
2018: 148.602 ₺ / 23 Customers
2017: 35.118 ₺ / 17 Customers
Annual Recurring Revenue: 83.263 ₺


2021: 58 Customers
2020: 36 Customers
2019: 30 Customers
2018: 23 Customers
2017: 17 Customers

All of our customers are actively using the platform(at least twice a week).
User growth rate monthly: %13

Business model

ServisSoft is a SaaS-based platform that generates revenue by monthly subscription plans and monthly data processing subscription fees per data point in three different customer segments. We also generate one-time revenues from integration with other software platforms and equipment sales by our IoT partners.

Money will be spent on

We are preparing to launch our first global office in Europe by Q1 2022. We started sales operations through our partners in the UK and the Netherlands. In this respect, our goal is to gain market share in northern and western European countries. Money will be spent on market entry expenses and the technical infrastructure team.

Team or Management

Incubation/Acceleration programs accomplishment

KWORKS Entrepreneurship Research Center / Incubation, Covid-19 Ekspres Program
TIM & TEB Entrepreneurship Center / Level Up Program
ITU Innogate / International Accelerator Program
BTM Istanbul / Accelerator Program
MUSIAD London Entrepreneurship Bridge Project
Turkish Airlines Terminal Entrepreneurship Program

Won the competition and other awards

METU Entrepreneurship and Technology Summit 2020 - 1st Place
YTU Technopark Entrepreneurship Contest 2020 - 1st Place
Ankara University TTO Entrepreneurship Contest 2020 - 1st Place

Photos

Photo 1 - AI-Powered Cloud-Based Maintenance Management Platform
Photo 2 - AI-Powered Cloud-Based Maintenance Management Platform
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Idea
Current Status
Market
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Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
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Team or Management
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Incubation/Acceleration programs accomplishment
Won the competition and other awards
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