A Third of Field Service Businesses Investing in Technology Annually - but are you Measuring the Right KPI’s?

by Clare Klug on Sep 15, 2016 5:05:06 AM

ROI_Calculator_-_crop.jpgField Service News recently announced that field service companies appear to be investing more frequently in technology than ever before. Almost a third of companies are investing on an annual basis and 27 per cent every two years.

This is surprising considering that field service organizations typically take a 3 year view on their investment or replacement cycle. There are many reasons why this could be the case. The initial investment in SaaS is lower, which creates a lower ROI benchmark. Many service businesses are also playing catch up, particularly as customer service expectations continue to rise.

Field service organizations are characterized by very complex workflows and investment in field service technology can certainly help to streamline and optimize field service operations. However, if your business has problem areas, technology alone cannot solve these. Key Performance Indicators (KPIs) help field service companies understand how their business is doing over time and setting and measuring these will help you to understand exactly where you need to improve.

KPIs can cover everything from First-time fix rates to Customer Satisfaction, SLA Compliance, Technician Utilization and Service to Cash rates, to name a few.

What are 3 most important metrics that you use to measure the performance of your field service organization? We’re running a field service metrics survey with industry leaders to find out and we would like to hear from you too!

How do you use field service data within your organization? How frequently do you report KPIs? Who within your organization is interested in your KPIs? Take our two minute survey and we will share the results  during our "What's your Field Service PULSE Rate?" webinar in early October. By completing the survey we will guarantee you a spot and you will also be entered into our prize draw to win a fitbit charge!

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