Latest research update - a third of field service companies investing in technology annually

Sep 08, 2016 • Features • Future of FIeld Service • research • IoT • servicemax

As the importance of harnessing the latest technology to ensure service delivery is as efficient as possible grows, field service companies appear to be investing more frequently in technology than ever before as the latest research by Field Service News in partnership with ServiceMax appears to show.

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Almost a third of field service companies are now investing in technology on an annual basis now the early findings of the current research from Field Service News and ServiceMax reveals.

In fact, whilst 34% of companies are investing on an annual basis an additional 27% are investing in field service technology every two-years - meaning almost two thirds of field service companies surveyed appear to be investing in technology a lot faster than the perceived 3 to 5 year replacement cycle many industry experts cite.

The same survey, which is still running and available for field service professionals to participate in by clicking here, also highlights that over three quarters of field service professionals do not think their company is investing sufficiently enough in field service technology to deliver a competitive level of service, with 77% of our respondents stating they felt this was the case.

It is perhaps no surprise that the technologies that are viewed as key for driving forward improved service delivery are Mobile, Cloud, IoT and Big Data. Each of which were identified by over half of respondents as having an impact within their own organisations.

The potential impact of IoT in Field Service could be literally game changing as companies begin to move away from traditional break fix and towards more predictive, servitized business models.

Mobile technology remains the most prominent of these four,being cited by 71% of companies, which given it's longer standing and maturity within a field service environment is of little surprise. What is perhaps a bit more unexpected however is that 58% of companies state that IoT or connected assets are already having an impact in their field service organisations, when we think that the first dedicated field service systems including Connected Field Service by ServiceMax only started appearing earlier this year.

This is particularly interesting as the potential impact of IoT in Field Service could be literally game changing as companies begin to move away from traditional break fix and towards more predictive, servitized business models.

Indeed, the early results of this research certainly support this hypothesis with 63% of companies admitting they are preparing for the cultural impact that the introduction of IoT will have in their organisations, whilst a further 13% state that they have already prepared for the impact.

How does this align to your own organisation? Take part in our research and once the results are concluded you will receive a copy of an exclusive white paper detailing the findings of the report. Plus every research project we run includes a prize draw for our respondents with three £50 Amazon vouchers available for each project. We recently announced the last three lucky winners here - could you be next?