Field service industry is undergoing massive transformation when it comes to managing service functions, work order management and field team management in particular. Currently, the sector is thriving on automated tools based on next generation technologies such as Artificial Intelligence for dynamic scheduling, IoT for asset management, and cloud computing and mobility solutions for communication and collaboration.
According to a report, 77% of field service organizations are using some kind of on-premise fsm solutions to maximize SLA performance, customer retention, and service profitability. In fact, companies have admitted that their profit has increased by 18% due to the use of field service management software.
Take a look at 3 ways field service management software drives high profitability
- Improves Operational Efficiency
FSM tools are generally cost-effective if you measure the value they deliver. It is because software contains various modules that put your field service operations on fast-track, allowing you to do more with less.
For example, field service software streamlines your service management. The simplification leads to the removal of redundant processes from the operations, reduces the amount of time-consuming paperwork involved, and provides detailed information about the daily tasks to service teams.
Processes powered by field service management software solutions are free from chaos and confusion and have more clarity to offer to the service teams on their tasks, customer requirements, documentations, and approvals and validations. As a result, service teams have more control over their tasks and have the opportunity to work efficiently, resulting in time and cost savings.
- Affordability
Cloud-based field service management software solutions are the best example of cost saving, mainly for two reasons:Â
a – Subscription based Model: Software for field service management for small businesses and enterprises are offered through subscription based model, featuring usage based pricing. If you have a small team of service engineers, you don’t really have to invest a huge amount of money to seek the benefits of the most recent technology. You only spend how much you use. Besides, if the product is no longer fitting to your requirements, you may cancel your subscription. However, it is recommended to check the cancellation policy of the organization before buying a field service software.Â
b – Availability of solutions: According to a report, the field service market is expected to grow up to USD 5.7 billion by 2026 from 3.2 billion in 2021. Today, there is no dearth of solutions, from off-the-shelf solutions to custom-made field service management software. State your field service challenges and you will find a solution precisely cut to your needs. Â
Driving higher profitability with top field service management software is no longer a cost-centric investment. The benefits with respect to improvement in operational efficiency, productivity of service teams, and transparency and visibility aspects, along with easy subscription based pricing make it a value-driven solution.  Â
3 – Plug Revenue LeakagesÂ
Improving operational efficiency with top field service management software is a common goal of field service organizations. However, the benefits of the software solution extend to various functions across the organization, such as invoice management, expense and reimbursements, quotes & approvals, and productivity tracking. The tool acts as a CRM to help companies manage their customers and the service contracts associated with equipment they have purchased.
By tracking the service contracts, technicians could see in the real-time that whether the services are under the warranty or the customer has to pay for it.
Similarly the other aspects of field service operations which could be tracked are:
- Field technician travel hours: The software allows the users to track the total hours traveled and the time spent at the service locations. It is helpful analyzing where the technicians are spending most of their time, which ethically should be at the job location. If they are spending too much time on travel that means there is an underlying scheduling problem
- Schedules: Effectively track all the job schedules, who is working on them, and the current status of the job. It helps in setting priorities and managing all the other aspects of service management.
- Flow of operations: The software offers real-time visibility into every aspect of operations so that you can make better decisions and drive your profitability.
Finding an effective and affordable field service software management software for small business and enterprises is not difficult anymore, given a vast range of solutions available.
Conclusion
Set the goals for areas where you need improvement, create a requirement list and choose the best field service management software for your business. Since the availability is huge for small and large enterprises, you would surely come across a software that has been meant for your business.
