In a dynamic, ever-changing market, field service operations like yours are looking for ways to enhance financial stability. Strategic initiatives such as strengthening customer centricity increases revenue and pushes you ahead of the pack. Streamlining processes and integrating the use of data makes your operation more efficient.

Financial stability is achieved when you fully leverage every opportunity for revenue generation. This blog post outlines three scenarios where your field service organization is missing out on revenue opportunities and how field service tracking data can improve your business’s financial stability.

Customers are frustrated with your service.

When customers are told that they should expect a technician to arrive between 7:00 am and 5 pm, their lives or their business are put on hold. Scheduling automation can make that time window smaller and giving the technician’s ETA to the customer is more accurate. Back office dispatchers see real-time updates on technician progress, immediately react to schedule changes and jobs can be updated and scheduled on the fly, making one very happy customer.

 

> Read related: Are You Ready for Connected Field Service?

 

It takes too long to fix something.

Faster job completion helps revenue generation in two ways: it results in a delighted customer and your operation can fit more services in the day.

Don’t waste time taking 2, 3, or 4 attempts to complete a service. Fix a piece of equipment the first time by arming your technicians with information such as equipment history, specifications and work orders. Historically, technicians spent 25% of their time searching for information to complete a service, but a connected field service solution can change that.

You don’t upsell often enough.

Some of the biggest areas of revenue generating areas are selling value adds to existing customer contracts and upselling. Sadly, only 15% of businesses empower their technicians with the information to upsell services.

The first step to giving technicians the ability to upsell is to track and compile customer data through IoT and an integrated field service technology solution. Using sensors on equipment as part of an internet of thing (IoT) strategy, tracks product performance. An integrated information system empowers technicians to use that information in the field.

 

> Read related: 5 Steps to Get a Better Grip on Your Field Service Process

 

Conclusion

Tracking data and integrating availability of that data helps strengthen customer centricity and therefore increases financial stability. Customer retention is a revenue opportunity that smart field service operations focus on. In fact, companies find the greatest opportunities for revenue growth with existing customers.

For more information about how Connected Field Service helps Oil and Gas operations, register for our webinar.

 

Source: Future Trends in Field Services, a Benchmark report from Field Service USA 2016.