Idstein Serviceware SE (“Serviceware”, ISIN DE000A2G8X31) is further expanding its existing cooperation with a Fortune Global 500 company from Asia. The group from the petroleum industry with revenues in the high double-digit billion euro range and several tens of thousands of employees will in future use the AI-native Serviceware Platform beyond the existing use cases in IT Financial Management to drive collaboration and the further digitalization of standard processes such as internal approval procedures in the areas of planning, forecasting and billing.
Serviceware is thus also documenting the international relevance of the new AI functionalities of the Serviceware Platform in the enterprise environment. The SaaS contract has a minimum term of three years and is associated with sales revenues in the seven-digit euro range for Serviceware. The company already decided in spring 2024 to use the Serviceware ESM Platform with the Serviceware Financial and Serviceware Performance modules as well as the Serviceware Digital Value Model (see Corporate News dated April 9, 2024). The go-live of the ITFM processes for billing, budgeting and internal cost allocation has taken place and the solutions are being used successfully.
The innovative, AI-based process modeling software AI Process Engine enables the creation and implementation of service processes within minutes. By introducing standardized workflows and reports with the help of AI, processes are simplified and significantly accelerated while costs are considerably reduced. The AI Process Engine will initially be used in ITFM but can also be extended to various areas of ITSM in the future.
Sam Wilson, Head of International Business at Serviceware: "We are delighted to extend our cooperation with the global petroleum company and to support them in their further growth. The fact that the company has decided to use the Serviceware Platform also for AI-based modeling and automation of processes related to IT Financial Management only one year after the start of the cooperation is proof of the high performance of our product portfolio and the fact that Serviceware creates real AI added value for its customers."