Over recent years companies across industries have realized the importance of their service organizations and their value in customer retention and attracting new business. Many product-based manufacturers have strategically transformed their service organizations from support cost centers to significant cash-generating business entities. They have done so by investing in talent, training, workflow process automation, and systems.
Field service businesses are generally transaction-intensive, requiring systems to manage day-to-day activity and analyze captured data to predict product-related events, track trends, forecast revenue, and drive initiatives to gain operating efficiencies that deliver higher profits. Analyzing service-events-based data help organizations develop new offerings, and more importantly, price repeating services appropriately for increased profitability.
Staying ahead of competition demands field service-based businesses to be proactive and well connected with mobile and onsite workforces. They need lean workflows to reduce the overall cost of service while improving customer experiences at every touchpoint. This growing realization has increased the global demand for field service management software platforms.
According to research-
The Field Service Management (FSM) market size will likely reach USD 5.7 billion by 2026 from USD 3.2 billion in 2021.
Businesses are increasingly recognizing the need to improve the efficiency and productivity of their field workforces. But the complex nature of field operations and their assortment of services and processes keep them from gaining productivity consistently. Field service operations demand a well-connected workforce using a central system to ensure that technicians and support teams have current information, accurate parts inventories, and service level agreements (SLA) obligations are consistently met. The failure to take a unified, coordinated, multifaceted approach to field service management creates waste, increases operating costs, and undermines customer experience.
As per research –
Field technicians waste up to 40% of their workday on non-value-adding activities such as searching for information and filling out timesheets
Such activities negatively impact the customer satisfaction benchmarks by 20%. The lack of access to valuable information often prevents technicians from quickly solving pressing equipment failures. Too often, requiring a second visit to a customer site severely reduces field operating efficiency.
Many field service organizations operate without the fundamental necessities to effectively meet their customers’ operating requirements. This results in poor performance management lacking visibility into technicians’ activities, field parts inventories, resources availability, and business-critical metrics. Embracing a proactive field service management mindset is the way forward for businesses to quickly support new products and adopt new service offerings.
Every field service-based business has unique expectations and requirements from a field service management (FSM) software system. The success of companies operating in the field service industry is rooted in simplified management and empowered technicians. They must seek a field service management software that:
Cutting-edge technology solutions platforms and software are the future of streamlined field service processes. Businesses are highly pressured to maintain reporting continuity by automatically synchronizing data from online and offline settings. They can achieve it by leveraging an innovative field service management software that:
With a robust suite of features, our field service management software, FieldEquip, fits in perfectly with field service operations across industries, as it has been enabling businesses to run their field processes in a lean and well-orchestrated way. FieldEquip is also designed keeping in mind the present-day challenges of diverse industry-wide field service management needs of service organizations. It aims to simplify the complex field service operations by keeping teams well connected, the workforce informed, and being future-ready.
Thus, service organizations must leverage today’s leading-edge FSM technology that gathers valuable data that helps gain maximum operating efficiencies. FieldEquip by Bursys uniquely fits the requisites for a next-gen field service management software by plugging the value leakage happening in disconnected and manual field service operations.
Many global businesses across diverse industries trust FieldEquip to streamline communication, reduce payment processing time with digital invoices, simplify management of SLAs & contract entitlements with its smart contract management system, remove workflow disruption with inventory management software, and maximize field operations output by leveraging its field resources scheduling software.
Check out the FieldEquip demo now to see the value it can add to your daily field operations and overall business’s bottom line.