30 Fastest Growing Companies to watch 2018
Enterprise Asset Management (EAM) software is an invaluable tool that can be used by organizations to maximize the performance of their assets. Traditionally most organizations did not embrace life cycle planning for assets, but a sea of change is occurring in how management views long-term asset care. EAM software is critical because it enables organizations to use the latest technology and tools to maximize their three most important asset classes: Physical assets, IT assets, and digital assets.
Discerning the benefits of EAM, Predictive Service came to existence in the year 2002. The company offers an unparalleled approach to Enterprise Asset Management, achieving improved utilization, enhanced performance and reliability while reducing capital and operating costs.
The company specializes in infrared, vibration monitoring and overall managed maintenance programs, including consulting services focused on reliability, predictive maintenance, work management, asset and technology optimization. As an innovative technology leader for maintenance and reliability programs, the company is changing the benchmark for service companies. Predictive Service offerings start at the core, your CMMS and ERP systems to effect sustainable change to your processes and workflows. Adding its award winning PdM management software, ViewPointÂ® with the companyâ€™s newly developed mobile platform, ViewPoint On-DemandÂ®, brings leading-edge solutions to the marketplace.
Why was the company founded?
The company was founded as a predictive maintenance company focused on providing infrared inspections of electrical systems. Today, we offer a complete suite of services. Our client base was initially diverse and remains that way today. Predictive Service serves commercial properties and buildings as well as industrial facilities and manufacturers. On the commercial side, we mitigate risk associated with electrical fires or unplanned failure causing electrical shutdown or outages. Clients on the commercial side range from hotels, shopping mall, retail stores, medical facilities, universities, large multi-story buildings and campuses to data centers and online retailerâ€™s sorting and warehouse facilities. Industries served on the industrial and manufacturing side included but are not limited to utilities, oil & gas, food, packaging and many unique manufacturing processes. Many of our clients manage facilities throughout the world, which led us to establishing operation centers abroad with the capabilities to support the facilities where they are located.
Could you brief us about your companyâ€™s focus points?
Predictive Service globally provides solutions for maintenance, reliability, and sustainability for facility owners, operators, and manufacturers. We accomplish this by deploying unique technologies, thought processes, people, products, and services. Predictive Service focuses on a complete spectrum of consulting services, predictive maintenance technologies, equipment efficiency and reliability, energy management, and repair solutions.
Our products and services are supported by patented technology and a highly-skilled, global team of professionals, delivering services. This combination of resources and methods ensures superior program management and actionable knowledge, enabling our clients to operate their facilities and equipment efficiently, maximizing value, and sustaining long-term partnership relationships.
What are the challenges you faced in the beginning?
We recognize that to manage a diverse customer base with locations throughout the world, we needed a capable reporting and data management tool, with the flexibility to adapt to our client base and their specific needs.
That product is ViewPoint. A web-based tool to manage Predictive Maintenance (PdM) information, history, problems found, corrective actions and the cost benefit derived from proactively maintaining the equipment. ViewPoint is not a traditional â€œfor saleâ€ product but included with the service we sell.
We found that our customers and potential customers have a large geographical presence and that meant two things:Â
What are the reasons for your organizationâ€™s stable growth?
Adding more customers, adding new offerings to existing customers and customers in more countries Our customers are rapidly growing We anticipate our customer needs and have them ready when they are in need. â€œWe are no longer simply an infrared company.â€
Where do you envision your company in the coming years?
We have been successful in making acquisitions and strategic partnerships. We expect to continue to grow as a company significantly by following a strategy of delivering great customer service, identifying additional strategic acquisitions and partnerships that help us continue to deliver value to our customers.
Meet the Key Executive
As President and Chief Executive Officer of Predictive Service, Mr. Frankel develops the companyâ€™s overall business strategy and relationships. Under his leadership, Predictive Service has been recognized as one of the fastest growing companies and named to the Inc. 5000 list for eight consecutive years.
Previously, Frankel was President of Encompass â€“ Cleveland from 1999 through 2001, President and CEO of El-O Electric Company and Executive Vice President of Pro Net Communications Company.
A native of Cleveland, Ohio, Mr. Frankel graduated from Ohio State University, with a bachelorâ€™s degree in marketing and a minor in labor management. Mr. Frankel is also a graduate of the Encompass Leadership Institute, a Certified Maintenance and Reliability Professional (CMRP) and a 2007 E&Y Regional Finalist for Entrepreneur of the year.
"Our offerings start at the core, the CMMS system; the ERP systems and our award winning PdM software with a newly developed mobile platform bring leading-edge solutions to the marketplace."