Fueled by the growing demand for a centralized field force management system, the Field Service Management (FSM) industry faces substantial growth and advancement in order to expand its scope and functionality. From $1.97 billion in 2015 to $5.11 billion by 2020 at an estimated CAGR of 21% growth rate has been observed, to put a figure on it. Besides centralization, it now calls for real time availability of data, higher transparency, and above all, better operational efficiency.
As the industry grows, the need to create and maintain optimal efficiency is incumbent. In the days before the advent of ubiquitous advanced technology in smartphones and tablets, data entry was a mammoth task taking up hours in the office, wasting valuable resources, and leading to low productivity.
Here we list some of the ways in which technology has driven up productivity.
Initiation of AI and IoT
Using Internet of Things (IoT) and Artificial Intelligence (AI) to process big data and monitor asset condition can help predict when a device or a part is about to break down and assist in making data driven informed decisions. A machine can then be scheduled for optimization before it actually malfunctions.
Real time posting and assignment of jobs
The field service manager can post jobs as the day progresses, and staff on the field are informed instantly through push notifications. This means that emergencies can be tended to at a moment’s notice and delays and cancellations are easily communicated to the representatives. No longer is there the need to make multiple time-consuming calls.
A dispatcher, while assigning a job to a representative, can see all the necessary additional information like commute time, distance, fuel costs, traffic and weather conditions, and the best route is suggested by the software taking all the factors into account, trimming 15% off travel and overtime costs. Managers can monitor representatives and track their location in real time, eliminating the possibility of unofficial detours. Field professionals can update job status as they happen and at the end of a job can even obtain the customer’s signature.
Instant updates from field representatives
Field representatives can now easily update the inventory, as soon as a part(s) is used without having to wait for the end of the day to rush back to the office to input the day’s information. Orders can then be placed accordingly to keep stock updated. If a technician does not have a part they need, they can know if a fellow technician close by does. With real time communication, it can be transferred the same day, saving time and money.
Using field service management software slashes the number of dispatched staffs by as much as 10%. Equipped with the knowledge of the best route, weather conditions, and the possible required parts, techs tend to finish their jobs quicker and on the first visit (first time fix rates go up by 20% after implementing FSM software), allowing them to take on more assignments.
In a study conducted by McKinsey, it was seen that with the adoption of a field service management software, 77% of companies gained faster access to knowledge. Easier accessibility of data allows employers and employees to make better, insightful decisions on short notice, all the while enabling machines to analyze big data to make more accurate predictions by recognizing patterns.
– Sristi Gayen
FieldEZ Technologies Pvt Ltd