Resource: Five key steps to make field service profitable PLUS James Automation Case Study
Abstract: Is field service seen as a cost centre at your business? Providing field service can be a complex process, but that does not have to mean it’s unprofitable. Every field service interaction is an opportunity to not only delight customers, but also increase revenue. This resource covers five easy steps to get your field service organisation in the black this year, as well as a case study of how one field service organisation did so. click here to download this resource now.
Making field service profitable:
Operating a service division as a profit centre rather than a cost centre has been at the top of the agenda for service professionals for many, many years. After the global economic downturn in 2008 companies cut margins as far as possible to remain competitive, making the shift to profit centre even more prominent and important.Whilst the economy has improved somewhat the ability to establish service revenue streams remains a priority, and with the technology now available acting as an enabler the move to profit centre continues at pace. With this in mind ServiceMax have put together a handy guide for companies looking to turn their service division into a profit powerhouse. The guide, which includes a case study from James Automation detailing how they increased service revenue by 30% is available to download here.
The resource also lists the key steps that you should consider if you are going to make field service profitable which include:
- Just say no to giving away free service – a fairly obvious point but one that gets overlooked by so many companies. If your field service engineers have no visibility into whether your customers have an up to date warranty then they are either potentially missing sales opportunity or worse giving your valuable service away for free.
- Optimise scheduling – One of the biggest areas that field service companies can see profit drain away is through inefficient scheduling of their engineers. With modern scheduling systems being far more affordable than before it really is inexcusable for companies to still be operating with a white board and an exel spreadsheet.
- Never lose parts ever – parts logistics can sound somewhat overwhelming, but it needn’t be. Essentially it’s just a case of keeping track of your own assets. For field service organisations who service high value equipment with expensive parts this is especially critical. Knowing your inventory in real time is essential to keeping a healthy bottom line.
- Market better, sell better – like all businesses, you need to shout about your successes. If you have customers that value your service you absolutely need to make it easy for them to continue buying it. Defining the value proposition of your service offerings is critical and they must be clearly articulated by everything and everyone that talks to your customers. This of course includes your field service engineers so be sure to train and incentivise them to sell services in the field.
- Go mobile – Field service is of course an inherently mobile job – so modern mobile tools are of course a natural fit for the industry. Whether it is smartphones, tablets or laptops it is important to match the right hardware and software to your own specific field service needs. The benefits of going mobile will be seen across the board and will not only improve productivity but make your field service engineers lives easier – for which they will certainly thank you.
To find out more about these five steps as well as how James Automation were able to improve there field service revenue by 30% and decreased their revenue leakage by 20% click the link below.