SVR.L Regulatory News (SVR)

27 January 2014

ServicePower Technologies plc

("ServicePower" or the "Company")

New Contracts for ServiceStats

ServicePower (AIM: SVR), a market leader in field management, today announces two of its existing, long-term clients have extended their use of the ServicePower field scheduling product suite through the purchase of ServiceStats software for a total value of USD$750,000. Both contracts were signed at the end of 2013, and the associated revenue will be recognised in the current financial year and beyond.

ServicePower's ServiceStats product is a Business Intelligence (BI) tool, which assists in the 'crunching' of "big data", better enabling field service organisations to monitor capacity, field employee utilisation, drive efficiency, productivity and reduce cycle time. ServiceStats can be deployed on premise or in the cloud, and can be used alongside ServicePower's ServiceScheduling and ServiceOperations products. Both large and small clients of ServicePower are seeing the value that ServiceStats brings to their businesses.

ServiceStats, which stores data in-memory, for quick, real time access and analysis, is a unique solution in the industry. It provides the robust business intelligence needed to forecast, plan and execute field service operations; this is particularly important due to the increased trend within the field service industry to use integrated labour resourcing, diverse mobile deployments, cloud-based infrastructure and connected services through Machine to Machine (M2M) utilisation - allowing both wireless and wired systems to communicate with other devices of the same type.

The first client, one of the United States' largest providers of home repair and installation services, has chosen to extend its ServiceScheduling contract to include ServiceStats. Since 2007, this integrated retailer has been using ServiceScheduling to route and optimise its field based technicians, and is now moving to the latest version of ServiceScheduling to utilise its industry leading competitive functionality.

ServicePower will host the implementation of ServiceStats for the client, eliminating the burden of managing infrastructure from the client's internal technology team.

The other client, one of America's largest publically held personal lines insurer has extended its contract to include ServiceStats for its ServiceScheduling product. ServiceScheduling has been used by this insurance client since 2002 to schedule and route field based resources for property, automotive and catastrophic claim events.

With ServicePower's deep expertise and dominant market position in the insurance vertical, ServiceStats will provide this client with the ability to more intelligently plan and manage field operations, ensuring the most efficient utilisation of resources, across all insurance lines. The ServiceStats platform provides the client with the ability to prepare for the quickest response to events that impact the lives and livelihoods of policy holders.

ServicePower is in the process of upgrading all ServiceScheduling clients on to the latest version of the software, which incorporates industry leading competitive functionality.

Marne Martin, CEO of ServicePower, commented, "I am delighted that two blue-chip clients have chosen to extend their use of the ServicePower field service platform. The addition of ServiceStats enhances the efficiency of field service operations, and in turn their own customers' satisfaction. ServiceStats is not only the leading industry BI tool, but also complements the professional services offerings from ServicePower to support the analysis of "big data".

"The continued investment in ServicePower's field management platform ensures that our clients have the market leading tools and functionality required to grow their businesses in the most efficient and least costly way possible, building trust in their brands and loyalty among their customers and policy holders."

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About ServicePower

ServicePower is the only company that can provide a complete, global field management platform that controls all elements of the service lifecycle from offering an appointment, assigning resource and dispatching work through to tracking resources, processing claims and providing business intelligence and analytical reports. With advanced intelligence-based scheduling, dispatch and open market auction software, as well as access to a global network of 86,000 repair and installation technicians, we enable companies to control and schedule work using a mixed resource pool of employees and independent contractors. ServicePower provides solutions that cross all industries. Current customers include Assurant Solutions, Mitsubishi, Farmers Insurance, and Pitney Bowes.

ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information please visit www.servicepower.com