How do you transform a highly competitive, service-driven industry focused on costs into a tech-oriented one with durable economic advantages? You change the way the world sees your industry.
In the 2010s, FM Facility Maintenance was aggressively competing in the facility services industry. Customers in this industry are primarily company offices as well as retail, restaurant, grocery, and convenience stores that outsource their needs for cleaning, electrical, HVAC and janitorial/trash removal.
By studying the wRatings research across both its suppliers (technicians) and its customers, the executive team determined that both stakeholder groups wanted similar sets of value. While costs were a critical driver of success, consistency and optimization were higher emotional drivers to selecting facilities service provider. A new business framework was born to use technology to look at facility assets and ensure they stay operational.
In 2016, FM Facility Maintenance merged with technology firm First Service Networks to form Vixxo. During the first year, FM/Vixxo landed on the Inc. 5000 Fastest Growing Private Companies in America. Later that year, Vixxo said they had:
Based on financial analyst projections, Vixxo increased sales 4X within five years.