The ROI of Field Service Management

It’s no secret that the demand for onsite services is rapidly growing—the global field service market is expected to boom to $5.08 Billion by 2023. Customers, both as businesses and individuals, routinely expect to get precisely what they need in a timely manner onsite where they are, not where their vendors are. Yet, there are many challenges for technicians: tools are too slow, data access is limited, many tasks require manual entry, and the list goes on.

So how are field service providers supposed to keep up with a booming industry when faced with these challenges? The answer is field service management software. Not only does it make field techs’ jobs easier, it makes good financial sense for their employers. According to a Gartner study, companies report seeing ROI within nine months of implementing a field service management solution.

ROI Factors of Field Service Management

A good field service management (FSM) solution does more than just reduce paperwork and speed up billing to earn its ROI. It increases technician productivity, raises customer satisfaction, reduces costs, and creates efficiencies. In turn, it improves your bottom line.

Reduced Overhead Cost

Automated scheduling alone can greatly reduce overhead compared to manual scheduling. Field service management tools can optimize a tech’s day so they can complete more revenue generating activities than they otherwise would. Optimized travel routes, comprehensive customer details, and logic-driven scheduling all lead to time better spent.

Inventory is another area that can be more effectively managed with an FSM tool. View in-stock inventories and reorder parts with the push of a button. This saves the company shipping costs, helps avoid rush orders, and prevents the tech from arriving on the job without necessary parts.

A mobile-first FSM solution allows for route optimization, and it reduces fuel costs and wear and tear on company vehicles. A field service management tool can take into account traffic or construction to select the fastest route—and even which tech is closest if an emergency job ticket pops up. In fact, 86% of companies surveyed saw a decrease in fuel costs with FSM.

Optimized Staffing

Managing a large workforce and scheduling jobs can be time-consuming and complicated. Throw in an emergency job at the last minute, and it can be downright stressful. A solution that bridges the gap in communication between the office and the field offers a multiplier effect to a business. WIthout the need to re-schedule or call in additional staff, overtime costs are reduced and efficiency is magnified.

“Everytime you save a phone call, it not only saves that 30 second call,” says David Benoit, president of ServiceMaster Clean Vancouver. “It saves you the 20 minutes it takes to re-focus on what you have to do next.”

Accurate, real-time scheduling allows you to set up an efficient workday, minimize last-minute changes, estimate job completion time, and replace or add technicians to a job, all without interrupting business. It’s that easy.

Faster, More Accurate Invoicing

Field service management software lets technicians take notes in the CRM, generate invoices, and capture signatures on-site. When the job is complete, there’s no need for the technician to return to the office or submit paperwork.

Many companies see their billing cycle reduced by 30 days or more with an FSM solution. This translates into better, more consistent cash flow for the company. One company, Area Wide Protective, saw 64% faster invoicing and a 41% reduction in invoice corrections when they implemented a field service solution that connected data about services delivered directly to the back office team via CRM.

Increased Employee Productivity

Happy employees are as much as  20% more productive, which increases company profitability. Plus, happy employees are more likely to lead to satisfied customers. How do you make field service employees happy? With a field service management tool!

A good field service management tool gives techs accurate schedules quickly—even in real-time. It saves time on the phone to the office for customer details and locations, so technicians can complete the job and move on to the next one more quickly.

Another boon for employee productivity with FSM tools is process improvement. Techs can access checklists to ensure they complete every required step, enter job notes directly into the CRM, collect customer signatures and payments, and perform many other tasks that would otherwise require manual paperwork.

Field service management tools lead to more streamlined and efficient processes for everyone.

Improved Customer Service

Service failures and equipment problems can be stressful for customers. When the technician arrives at the job within the scheduled time and with the right tools, the customer experience starts off on the right foot.  

An FSM solution makes customer and job history accessible, helping technicians diagnose and fix problems quickly. In turn, your company builds confidence and credibility with the customer. 82% of companies that use FSM tools report better customer outcomes with increased first-time fixes.

When processes are efficient and employees are satisfied with the work, the end result is a job well done, a satisfied customer, and likely, a company recommendation for the future.

ROI of the Skedulo Platform

The Skedulo mobile workforce management platform features a Mastermind engine that prioritizes jobs according to your company’s priorities. With Skedulo, you can hone in on efficiency, customer satisfaction, employee satisfaction, or another business priority, then optimize your workforce to meet that need. Skedulo is flexible enough to meet multiple business needs, but robust enough to manage your entire mobile workforce, including contractors and part-time field service workers.

Here are a few examples of Skedulo customers who have experienced much more than ROI from Skedulo’s field service management system:

Skedulo’s field service management system integrates with Salesforce and ServiceNow, and extends to other record systems with the Lens API. The intuitive mobile app works on any device, offering a powerful field service management solution.

Request a demo of the Skedulo field service management system today and see how it can improve your business!