As she began creating technology for home services providers, Suparba Panda viewed her efforts through the lens of her experience as a homeowner.
She wanted to create a platform that would help homeowners easily find service providers, like plumbers and appliance repair firms. But while working on that initiative, Panda said conversations with field service firms revealed their struggle to find technology to manage business functions. Instead of a single software program, Panda says the firms told her they used a hodgepodge of tools and software to run operations. Some even still relied on pen and paper.
Panda set out to offer a solution. In 2016, she launched ServiceWorks, a startup that provides “end-to-end” software for services businesses. ServiceWorks’ software is designed to be a single product that can help businesses run several functions, including scheduling; dispatching; sales estimates and invoicing; payments and inventory.
“We help them automate a lot of their day-to-day business, so they can save their time and money and focus on growing their business instead of investing time in running these operations that all businesses have,” said Panda, CEO of ServiceWorks.
Panda’s tenure as an entrepreneur comes after holding technology roles at several large local firms. She previously was vice president of technology at credit reporting agency Equifax (NYSE: EFX). Before that, she held worked in technology roles for Anheuser-Busch, Monsanto and Caleres.
The technology: ServiceWorks has created software used by service businesses, such as appliance repair and landscapers. The software is designed to simplify and automate business operations within one platform to save business owners time and money. It’s an end-to-end solution for managing service, retail and delivery operations including scheduling, dispatching, work order management, sales order management, P.O. management, asset management, estimates and invoicing, payments and inventory. It is built to seamlessly integrate with third-party services like Quickbooks, Shopify and Square.
How it makes money: ServiceWorks is a subscription-based product. It has three packages: starter ($348 annually), plus ($1,428) and ultimate ($3,828). All the packages allow for an unlimited number of users and have various features per package. Any package can be subscribed to and any feature can be added as an add on for a customized package.
Size of the market: The global field service management market size was $2.9 billion in 2020. The market is projected to grow from $3.2 billion in 2021 to $8.1 billion in 2028 at an annual growth rate of 13.9% in that time period.
Competition: ServiceWorks describes itself as a one-stop platform for running all business operations, and because of that, says it considers itself in a category of its own. Though, it notes that in niche markets like cleaning and pest control, there are industry specific software products. However, it says the breadth of its offering is unique.
Competitive advantage: ServiceWorks says several components of its business provide a competitive advantage. Among those listed by the company are its software’s ease of use, its robust offerings, low subscription fee, its software’s integration capabilities and its “high touch live” customer support.
Business it could disrupt: ServiceWorks says service organizations are recognizing that providing superior customer service is fundamental to increased customer loyalty and profits, and that as a result, they are increasingly investing in field service management technologies. ServiceWorks asserts it is providing a new way of doing business for service organizations that accelerates their business and saves time and resources.
Managers and their background: Suparba Panda is founder and CEO of ServiceWorks. Prior to ServiceWorks she was the vice president of technology at credit reporting agency Equifax (NYSE: EFX). She has also worked for many big companies, including Anheuser-Busch, Monsanto, U.S. Bank and Caleres, as technology expert. Panda has a bachelor’s in engineering and master’s in computer science from the University of South Alabama.
Advisers: Avichal Jain, President of St. Louis-based appliance parts distributor Marcone
Investors: ServiceWorks is a self-funded company. It has no investors.
Ideal exit: ServiceWorks says it is not thinking of an exit. It envisions it can grow to be the No. 1 platform for running service business worldwide.
CLOSER LOOK
Company name: ServiceWorks
Headquarters: St. Louis
Year founded: 2016
CEO: Suparba Panda
Employees: 34
Website: https://www.service.works
