Aquant is Helping Turn Your Workforce into Service Heroes
Aquant works with service organisations to help them deliver the best service possible, as CEO and co-founder Shahar Chen explains. “Every service provider wants a roster full of experts. Service leaders monitoring cost, customer satisfaction, and other KPIs want to send out their best technicians because they know that the most experienced field engineers complete jobs quicker and at a lower cost. But there aren’t enough experts to go around.”
This is where Aquant comes in. The technology helps shrink the skills gap and create a dream team of expert problem solvers. Right now, there’s only a small number of standout experts or service heroes in every organization. But they are overwhelmed. They can’t be in the field doing what they do best while simultaneously training new employees.
Aquant takes all the information about how the best field service and call center agents do their job, combines that with vast amounts of other service data, and analyses all that information—quickly. Aquant then makes all that insight available to everyone across the service organization.
“We then use the information to create smart recommendations, which allows someone who joined the organization yesterday to gain the experience of someone at the job 20 years,” adds Chen.
Aquant is a key partner for ServiceMax, having worked together for several years. “From the beginning, we found there was a common language between the companies. It stems from the fact that both companies grew from field service management,” says Chen. “We address the same market, reach out to the same kind of companies, and talk about the value in almost an identical way - but we attack these challenges from different angles.”
The two approaches are inherently complementary. “Aquant takes data from existing systems, including ServiceMax, analysing that information in order to identify patterns and then suggest the most likely solutions to each problem.”
Going forward, Chen expects the role of AI in the industry to increase, but he emphasises that this is not at the expense of people. “There's a common mistake that AI is here to replace people. Instead, AI works alongside your team, helping them do what they do best—solve complex problems and make the smartest decisions based on each service situation,” says Chen.
M&A activity key lever for future tech sector growth
Despite the continuing uncertainty of the pandemic, the tech sector has witnessed soaring dealmaking activity over the past year, rocketing in the second half of 2020, with the last quarter of 2020 a record one for M&A activity, and momentum continuing into 2021.
Dealmaking in tech sector soars in past year
And the latest figures bear this out with the number of technology M&A deals totalling US$208.44bn globally in Q1 2021, according to GlobalData. While the US holds top spot both in volume of deals (1034) and total value (US$140.61bn), Europe ranked next with 649 deals (US$44.49bn) with the UK continuing its reign as Europe’s biggest M&A market with 204 deals.
In particular, megadeals – those valued at US$5bn or more – soared in 2020 representing 59% of all global technology sector deal value in 2020, up from 47% in 2019, according to the latest edition of the EY Technology Global Capital Confidence Barometer.
This tech sector trend towards megadeals is backed up by EY’s CCB data, with 16% of tech sector respondents planning to pursue transformative deals valued at US$5bn or more in the near-term.
While technology deal activity “all but stopped at the beginning of 2020 after fluctuating between historic highs and lows, companies pivoted quickly and tech M&A exploded in the second half of the year”, says Barak Ravid, EY Global TMT Leader for Strategy and Transactions.
M&A activity level for tech sector growth
Looking ahead to the future, technology executives are optimistic, with nearly half (47%) expecting profitability to fully rebound this year, according to CCB data, compared to 23% across all sectors, and with more than half (51%) planning to pursue M&A in the next year in order to sustain growth.
According to Ravid, M&A activity is increasingly becoming a key lever for growth as businesses look to recover.
“To position themselves for future revenue growth, tech companies are now adjusting their M&A strategy to focus more on a target’s business resilience, digital technology alignment and to gain market share through consolidation,” says Ravid.
However, with an increasingly competitive deal market and ongoing geopolitical tensions, the majority of tech execs expect to see more competition in the bidding process for assets over the next year, primarily from private capital.