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How to make your Field Service activities more profitable?

October 17, 2017
Loc8 Insights How to make your Field Service activities more profitable?

Nowadays, the Field Service industry is quite a lucrative sector to be in. With automation and mechanisation finding its way into more and more areas of trade and commerce, there arise newer and varied opportunities to provide services to customers. This then increases the chances for greater profitability and improved customer service capabilities.

Monitoring and tracking performance

A common challenge companies come across is time management; loss of time is often caused by administrative duties and a lack of optimised scheduling. There is various field service management software that enables a business to allocate tasks digitally, plan resources based on skillset and that can also provide relevant sets of data that will allow businesses to find their optimal scheduling amount. Using one integrated system to schedule tasks and plan resources can also save time on administration tasks and limit the risk of human error.

Investing in technology

One of the main errors made by companies in service industries is often caused by their misconception of technology. It is true, technology can be relatively expensive. However, technology can be a significant boon for field service organisations (FSOs). For instance, nowadays, technology is mostly about mobile. Mobiles enable technicians to connect to the office and to the customer in real time, which leads to greater visibility, faster speed of service and better response times.

Another compelling technological asset is the Internet of Things, also known as IoT. The IoT allows devices to send and receive data, so a device can now communicate when there’s a problem. There is no human touch involved in the process and the chance of an issue causing a ripple effect that will cost time and money to an organisation is decreasing year by year.

Having technology on their side is the best thing for companies to create a better customer experience and generate repeat business. There are several such apps available in the market, each with their own set of specialisations.

Utilizing customer data

It is very common for organisations to make this mistake – ignoring customer data. Some companies are perennially stuck looking ahead to their next revenue opportunity and some might be missing out on effectively mining the customer data that they collect. That data may reveal upsell and cross-sell opportunities within their existing customer base. Maximizing untapped business potential is a great step toward increasing revenue from their most profitable customer relationships. Also, FSOs that leverage data will be able to unearth trends regarding customer requests, customer complaints and customer successes that can be used to refine service offering and service delivery.

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