Decisiv - Most Innovative Company of the Year
Company: Decisiv, Glen Allen, VA, USA
Entry Submitted By: SpeakerBox Communications
Company Description: Decisiv’s Service Relationship Management (SRM) transforms the service management process by taking IoT data and making it actionable. It is one of the largest industrial IoT implementations on a single platform, with more than 2,000,000 service assets, and the only cloud-based solution to fully integrate the entire service supply chain and related information into a closed loop system.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Company of the Year - Up to 2,500 Employees
Nomination Title: The Key to IIoT Success: Paving the Way to Innovation
Tell the story about what this nominated organization has achieved since 1 January 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
There’s a growing amount of data generated by IoT devices and sensors throughout the transportation and heavy equipment industry. However, companies in these industries struggle to turn this data into business insights -- especially when it comes to improving asset performance. Decisiv drives innovation, enhanced business process, and higher asset utilization for industrial assets, setting these companies up for success in the Industrial Internet of Things.
Software company Decisiv has reinvented the manual, labor-intensive service management process, into a collaborative software platform used by some of the biggest companies in the world, resulting in faster, more efficient repairs; better insight into asset utilization; and improved performance over the lifetime of commercial assets. These technological breakthroughs are already returning billions of dollars to the North American Commercial Vehicle industry and poised to radically change how processes are conducted whenever heavy equipment repairs and maintenance are a critical part of doing business.
Decisiv’s Service Relationship Management (SRM) platform connects information including warranties, parts data, recommended repair practices, with data from hundreds of applications, diagnostics and telematics sources, to deliver the right information, to the right users at the point of service. By enabling communication between manufacturers, service providers, and customers, this collaborative platform enables faster decision making.
In 2017, Decisiv continued making significant investments in their technology to fully embrace a microservices architecture, a cutting-edge technology that makes it easier for both developers and end users to create new functionality and customize the platform. This highly scalable and flexible architecture enables Decisiv to quickly and easily support new industries and grow its customer base beyond commercial vehicles and into other markets.
By the end of 2017, Decisiv’s platform had managed more than nine million equipment service events, at an increase of more than 36 percent over the prior year. Decisiv has also experienced a 36 percent growth in the number of equipment assets registered on the system. Further, the number of service locations that rely on Decisiv has tripled over the last four years, with a 37 percent average year-over-year growth for the last seven years.
Lastly, Decisiv signed new deals with Michelin and Isuzu in 2017. Isuzu’s business marks continued growth and penetration into the mid-size trucking market. By working with Michelin, Decisiv is showcasing their expansion into adjacent markets, beyond commercial vehicles.
By way of example, Volvo is just one of the leading manufacturers that relies on Decisiv’s SRM platform. Volvo has integrated its entire service supply chain -- including call center, dealers, fleets, and remote diagnostics data. A 2017 study showed Volvo Trucks experienced a 25 percent reduction in downtime, a critical statistic when the average value of uptime for a truck is $1,000 per day. Volvo also experienced a 70 percent reduction in triage time and boasts a 90 percent “Fix it right the first time” rate, a commonly used industry term for correctly completed repairs. During the course of the study, Volvo also noticed a 10 percent increase in driver productivity and 30 percent decrease in driver turnover, attributable to lower levels of frustration on the job.
The Decisiv platform powers Volvo and Mack ASIST, PACCAR Solutions (Kenworth TruckTech+ and Peterbilt SmartLINQ), Hino INSIGHT, WheelTime LINQ, Vehicare, and NationaLease Fleet 20/20 and is the standard for service event management at more than 1,500 fleets with more than 500,000 assets, and 3,000 dealers and service providers.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2017 (up to 150 words).
-Decisiv’s platform managed more than nine million equipment service events, an increase of more than 36 percent over the prior year.
-Decisiv experienced a 36 percent growth in the number of equipment assets registered on the system.
-The number of service locations that rely on Decisiv has tripled over the last four years, with a 37 percent average year-over-year growth for the last seven years.
-Decisiv moved from a SaaS (Software as a Service) platform, leapfrogging PaaS (Platform as a Service), to a microservices architecture, a cutting-edge technology.
-Decisiv signed new deals with Michelin and Isuzu.
By using Decisiv’s platform, Volvo Trucks experienced:
-25 percent reduction in downtime
-70 percent reduction in triage time
-boasts a 90 percent “Fix it right the first time.”
-10 percent increase in driver productivity
-30 percent decrease in driver turnover
Of the following types of innovation, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2017? Product Innovation