In this new article, we look with SimPRO at how field service organisations can consolidate and fully integrate new technologies within their existing technology ecosystem...
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Aug 24, 2021 • Features • Coen Jeukens • servicemax • Leadership and Strategy • GLOBAL
In this new article, we look with SimPRO at how field service organisations can consolidate and fully integrate new technologies within their existing technology ecosystem...
What's in your current tech stack?
Over the past 10 years the field service industry has seen a boom in technologies aimed at streamlining daily operations. Adopting new pieces of software has since become key to running a large and successful field service business and solving everyday problems in the office and the field. Office managers and admin teams use accounting software to invoice and track cash flow, stock management software to oversee stock levels and order job-specific materials, and mobile apps to schedule field staff and communicate job-specific information. On top of this, teams in the field are utilising technology to help cost and quote jobs, submit health and safety compliance, communicate effectively with customers using email and SMS automation, and much more. As new technologies have gradually been adopted however, many businesses are noting a common issue: The different pieces of software in their tech stack do not integrate with one another, resulting in too much time spent on double data entry and a lack of reporting capabilities. If this sounds familiar, it may be time to update your tech stack to ensure all the software and apps your business is using integrate with one another.
What should you look for when identifying the best tech stack for your field service business
Is it cloud-based?
Does it integrate with your accounting partner?
This one is a deal-breaker. If the tech you’re using to track timesheets and travel times, manage stock levels, raise POs and quote jobs does not integrate with your accounting software how will you ensure your invoicing is accurate and you’re reporting on all accrued costs?
Does it integrate with your key suppliers?
Managing stock levels and ordering job-specific materials requires time and resources. When it comes to choosing a piece of software to streamline the process it’s advisable to choose one that both allows you to order stock as part of a specific job and syncs with your key suppliers catalogues. This integration with key suppliers not only saves time, but will ensure you have up-to-date pricing for more accurate estimating.
Does the mobile app act as more than a timesheet?
For bigger businesses in particular, having your field staff head into the office daily to collect and submit paperwork wastes precious time. To ensure field staff are maximising their billable hours businesses need to choose the best mobile app for their workflow. When picking a mobile app it is important that it can assist with the scheduling and dispatching of field staff, as well as tracking their progress in the field. But more than that, it’s key to choose an app that acts as a medium for field staff to upload job notes and photos, submit compliance forms and quote from the field.
Are you able to automate your customer communications?
In order to automate customer communications your SMS or automated email service needs to be able to pull data from both your scheduling system (to update customers about your expected arrival times), and your accounting system (to send and chase up unpaid invoices). If these systems don’t integrate with one another this could lead to wasted time spent on double data entry.
Can you report on productivity and profitability?
As well as the additional administrative time caused by non-integrated technologies, another limitation you may encounter is the shortfall in your reporting abilities. By ensuring all the technologies you’re using talk to one another you’re also ensuring you can report on all aspects of your business in real-time. This is invaluable as reporting not only allows you to track the productivity and profitability of jobs, but also enables you to highlight areas of improvement and potential cost savings.
It is safe to say that more and more technologies will continue to emerge in the field service industry. When it comes to assessing whether your business needs to add these to your tech stack however, the most important thing to consider is whether it fully integrates with your entire technology ecosystem. Only when your tech stack is integrated will you reach peak efficiency, grow your business and grow your profits.
Streamline your tech stack with cloud-based job management software, simPRO. This end-to-end system provides solutions for every field service workflow, including service, project and maintenance jobs, and integrates with key accounting software and suppliers.
simPRO can help businesses of all sizes streamline their processes and increase visibility, ultimately increasing profitability. Interested in aligning your tech stack with simPRO?
Further Reading:
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Read news and articles about SimPRO @ www.fieldservicenews.com/simPRO
- Learn more about how SimPRO can help field services organisations @ www.fieldservicenews.com/all-about-simpro
- Find out more about simPRO @ www.simprogroup.com
- Follow SimPRO on Twitter @ twitter.com/simprosoftware
Aug 19, 2021 • News • Digital Transformation • Syncron • Mize • Parts Pricing and Logistics • GLOBAL
Syncron and Mize, Inc. today announced that Mize, Inc., a leader and innovator of Field Service Management (FSM) and Warranty Management (WCM) solutions, has merged with Syncron, a leader in Service Parts and Contracts Management including...
Syncron and Mize, Inc. today announced that Mize, Inc., a leader and innovator of Field Service Management (FSM) and Warranty Management (WCM) solutions, has merged with Syncron, a leader in Service Parts and Contracts Management including Inventory, Pricing, and IoT-based preventive repair monitoring solutions.
Both Syncron and Mize are well-recognized leaders within their respective cloud solution markets. The combined company will use the Syncron brand and establish a fast-growing innovator with a customer base of more than 200 of the most known and respected brands in the automotive, construction & agriculture equipment, industrial engineering, high-tech, med-tech, and consumer durables industries. With more than 700 employees by the end of 2021, based in 12 office locations in eight countries worldwide, the company will continue to invest significantly in innovation and expansion of its global coverage.
The combined company will be the world's largest privately-owned global leader offering complete Service Lifecycle Management solutions for the manufacturers, distributors, and services ecosystem.
The Syncron Connected Service Experience (CSX) platform and Service Lifecycle Management (SLM) solutions enable the manufacturers to retain more customers, deliver services more cost-effectively, and generate higher-margin revenues from the install base.
"Product-related services have become the lifeline of manufacturers’ EBITDA and net margins. Protecting end customer brand experience is of pivotal relevance for every manufacturer. Together we can help create higher margin businesses, and recurring revenue from subscription and outcome-based business models," said Dr. Friedrich Neumeyer, CEO, Syncron.
As a part of this arrangement, Ashok Kartham, Founder and CEO of Mize, will join the Syncron executive management team as the company’s Chief Product Officer overseeing all product and development for Syncron.
"Manufacturers today use disparate systems to manage their service and parts business leading to silos of data, disconnected processes, and lower profitability. The combination of Syncron and Mize for the first time brings the leading service and parts management platforms together to maximize value to the customers,” said Kartham. “With a unique ability to have one common real-time view on service parts, field service workforce, service histories, parts data, and pricing, we can provide a new level of value creation for our customers unmatched in the industry."
The deal is significant in that Mize and Syncron together can develop and deliver the first comprehensive, single platform portfolio of SaaS solutions to market that specifically addresses the complexities and profound opportunities possible in the aftermarket and services business. Syncron's capabilities in AI and ML will play a pivotal role to connect IoT-based failure prediction even better with planned service events based on optimal part availability. Manufacturers looking to enhance this vital part of their business will be able to address service profitability, optimize working capital, and enable business growth while also best approaching and developing innovative services for the world's new service economy.
"We have recognized Mize* and Syncron** both as a leader in several areas," said Aly Pinder, Lead Analyst of IDC. "We expect both companies to be able to further strengthen a joint position by creating customer innovations around fully integrated service lifecycle management processes proving value beyond individual products which I have been emphasizing for years."
“Manufacturing is going through acceleration of digitization and business model disruption,” said Léo Apotheker, Chairman of the Board, Syncron. “Service experiences as a sustainable differentiator is at the top of every C-level agenda. Coupling the talent, expertise, and products of Syncron and Mize will empower the changes manufacturers need to compete effectively throughout this transition and best position themselves competitively.”
Please visit syncron.com to learn more on how you can transform your service business to enhance service experience and drive higher profitability in a connected world.
Further Reading:
- Read more about Parts, Pricing & Logistics @ www.fieldservicenews.com/parts-pricing-and-logistics
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Learn more about Syncron + Mize @ info.m-ize.com/syncron-mize-introduction
- Find out more about Mize @ www.m-ize.com
- Learn more about Syncron @ www.syncron.com
- Read more about Mize on Field Service News @ www.fieldservicenews.com/blog/all-about-mize
Aug 17, 2021 • News • Artificial intelligence • Augmented Reality • Digital Transformation • GlobalData • GLOBAL
Augmented reality (AR) has replaced artificial intelligence (AI) as the most disruptive emerging technology, according to a survey by GlobalData, a leading data and analytics company.
Augmented reality (AR) has replaced artificial intelligence (AI) as the most disruptive emerging technology, according to a survey by GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Emerging Technology Sentiment Analysis Q2 2021’, reveals that 70%* of industry professionals surveyed stated that AR would disrupt their industry most out of a selection of seven emerging technologies AI, cybersecurity, cloud computing, IoT, blockchain, and 5G, in addition to AR. This was a sharp increase from the previous quarter, where only 51% selected AR. In addition, 58% said they had become more positive towards the technology over the last 12 months.
AR IS EXPECTED TO BECOME MORE DISRUPTIVE THAN AI, 5G, BLOCKCHAIN AND OTHER EMERGING TECHNOLOGIES.
Filipe Oliveira, Senior Analyst at GlobalData, commented: “This change in how people see AR will likely be long term, and not just a temporary blip. It is clear that people are warming towards the technology, even if they don’t believe that it will make a big difference tomorrow.”
When asked when AR will disrupt their industries, survey respondents were cautious. They expect the impact to be felt later in the decade. While more than half of Q2 respondents said that cybersecurity and cloud computing are already disrupting their industries, only 24% said the same about AR. Moreover, only 10% think that the disruption will come in the next 12 months.
The same pattern was observed when respondents were asked which technologies would live up to all their promises. More than 60% expected cloud computing and cybersecurity to deliver fully, but only 26% expected the same from AR. Further, 50% of respondents said that the technology was hyped, but they could see a use for it.
Oliveira added: “The contrast between the large share of respondents that said AR is disruptive and the low share that said AR was already disrupting their industry suggests that there is some way to go before AR becomes ubiquitous in business. However, several conditions are aligned to make the promotion of AR as a business tool easier.”
COVID-19 has put some AR use cases in the spotlight, namely in healthcare and ecommerce, and new uses are continuing to emerge. For example, in April, Delta Air Lines announced that it would equip all flight attendants with AR technology delivered via 5G to enhance training and help staff with in-flight catering.
Further Reading:
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Read more about Augmented Reality on Field Service News @ www.fieldservicenews.com/augmented-reality
- Read more about Artificial Intelligence on Field Service News @ www.fieldservicenews.com/artificial-intelligence
- Find out more more about GlobalData @ www.globaldata.com
- Read more about GlobalData on Field Service News @ www.fieldservicenews.com/globaldata
Aug 13, 2021 • News • Telco • remote working • Service Innovation and Design • GLOBAL • TRADESHIFT
A gradual return to the office has had little to no impact on business investment in virtual collaboration technology according to new data from Tradeshift, which found telecoms spending is almost twice as high as it was prior to the pandemic.
A gradual return to the office has had little to no impact on business investment in virtual collaboration technology according to new data from Tradeshift, which found telecoms spending is almost twice as high as it was prior to the pandemic.
According to Tradeshift’s latest Index of Global Trade Health, which analyzes transaction data between buyers and suppliers, the number of telecoms-related transactions crossing the company’s platform was up by 90% in Q2 compared to pre-pandemic levels.
The significant uptick in telecoms spending is in stark contrast to the dramatic decrease in travel and hospitality spending since the pandemic. Business travel was 30% below pre-pandemic levels but the volume of transactions processed by Tradeshift has been increasing consistently since the first lockdown eased.
TRADESHIFT FINDS TELECOMS SPENDING GREW FOR THE FOURTH QUARTER IN A ROW, INDICATING NO IMMEDIATE END TO REMOTE WORKING REVOLUTION
Corporate hospitality spending dropped 81% in Q2 2020. A year on and it’s tracking at the same level suggesting client entertaining and networking events will remain virtual, at least for the time being.
Christian Lanng, CEO, Tradeshift, said: “For a lot of businesses remote working began as a defensive act, a way to keep the lights on during a very challenging period. But the upside of collaborating virtually quickly became apparent.
“As economies open up, I think we all have a renewed appreciation of what it means to come together in person. But we’ve come too far to go back to ways of working which suddenly feel like they belong to a different era. Getting together is still going to be part of working life, but those opportunities will come at a premium. Zoom is going to do the same thing to professional services as the container did to physical trade.”
“For our own part, we decided pretty early on that this change is not temporary, and whatever we come back to will not look like what we were used to before. Like many companies we decided that the future of work was not a binary choice between a fully remote workforce and one that is fully office-based.
“A lot of our teams are spread internationally, so remote working makes a lot more sense than going into an office to sit on Zoom calls. For other teams, particularly sales, it’s useful to be able to sit together and bounce ideas around. Flexibility has been absolutely central to our thinking.”
Further Reading:
- Read more about Service Innovation and Design @ www.fieldservicenews.com/service-innovation-and-design
- Read more about Telecommunications on Field Service News @ www.fieldservicenews.com/telecom
- Read more about Remote Work on Field Service News @ www.fieldservicenews.com/remote-work
- Find out more more about Tradeshift @ tradeshift.com
- Follow Tradeshift on Twitter @ twitter.com/Tradeshift
Aug 06, 2021 • News • Digital Transformation • healthcare • GlobalData • GLOBAL • Pharma
As pharma companies continue to scale up digital transformation processes, a survey by GlobalData has highlighted that teaming up with experienced external vendors is driving innovative technology implementation.
As pharma companies continue to scale up digital transformation processes, a survey by GlobalData has highlighted that teaming up with experienced external vendors is driving innovative technology implementation.
The leading data and analytics company notes that technologies such as 5G, IoT, sensors, blockchain, cloud and virtual/augmented reality were the top technologies for which pharma companies used external vendors, whereas they were more likely to develop artificial intelligence (AI), big data/analytics or robotics in house comparing to the rest of smart technologies.
IMPLEMENTING SMART TECHNOLOGIES INTO PHARMACEUTICAL PROCESSES REQUIRES FINANCIAL RESOURCES, TIME AND KNOWLEDGE.
The survey, which was published in GlobalData’s latest report, ‘Smart Pharma’, revealed that the majority of healthcare professionals would turn to external vendors to implement 5G to their processes, at 65% of respondents. This was followed by Blockchain at 55% and IoT and sensors at 50%. On the other hand, 28% of respondents would implement AI in house, followed by big data/analytics and robotics at 26% each.
Urte Jakimaviciute, Senior Director of Market Research at GlobalData, comments: “Implementing smart technologies into pharmaceutical processes requires substantial financial resources, time, and knowledge, especially since the speed of innovation is accelerating rapidly. As pharmaceutical companies continue to revamp their portfolios and digital transformation speeds up, partnering with technology providers becomes a natural step for the industry to take.
“Businesses are more likely to use external vendors to deploy technologies that are less widespread, have fewer use cases, or need to be implemented in short timeframes. While there is no way to slow down the digital transformation, a collaboration with external technology vendors may be a key to success.”
Jakimaviciute continues: “Partnering can enable not only faster adoption of the new technologies, but also bring substantial cost savings. External vendors tend to have specific domain knowledge, and are also fast to respond to any regulatory or compliance requirements that the pharmaceutical sector needs to adhere to.
“Pharma companies are already accustomed to working with external vendors to enhance processes in research and development (R&D), manufacturing and supply chain management. As the need to control the rising costs of pharmaceutical processes is becoming more pressing, leveraging smart technologies is expected to create more sustainable operational models and improve business agility. The companies that can optimize the processes faster are primed to succeed - this forces healthcare industry to pursue more open and collaborative approaches.”
In 2021, Boehringer Ingelheim signed a collaborative agreement with Google Quantum AI to implement quantum computing in pharma R&D; UCB and Microsoft announced a strategic collaboration to combine Microsoft's computational services, cloud, and artificial intelligence (AI) with UCB's drug discovery and development capabilities; Bristol Myers Squibb created a collaboration with Exscientia to use AI to accelerate the discovery.
Further Reading:
- Read more about Digital Transformation @ www.fieldservicenews.com/digital-transformation
- Read more about Technology in the Healthcare sector @ www.fieldservicenews.com/healthcare+technology
- Learn more about the latest GlobalData report "Smart Pharma" @ store.globaldata.com/smart-pharma-thematic-research
- Find out more more about GlobalData @ www.globaldata.com
- Read more about GlobalData on Field Service News @ www.fieldservicenews.com/globaldata
Aug 05, 2021 • Features • Aly Pinder • Covid-19 • Servitization and Advanced Services • GLOBAL
Kris Oldland, Editor-in-Chief, Field Service News is joined on the Field Service News Digital Symposium by Aly Pinder Jr, Program Director of Service Innovation and Connected Products at IDC. Aly is a seasoned expert in the field service industry,...
Kris Oldland, Editor-in-Chief, Field Service News is joined on the Field Service News Digital Symposium by Aly Pinder Jr, Program Director of Service Innovation and Connected Products at IDC. Aly is a seasoned expert in the field service industry, technology and innovation and he always thinks forward and spots the upcoming trends in the industry.
During the conversation, the two discuss a wide range of topics related to the evolution of service, the rapid changes and challenges that occurred during the last year and what organisations should do to adapt and prepare for the future.
In this final excerpt from that full interview, the discussion turns to whether the pandemic has slowed down the move to servitization for field service organizations.
Want to know more?
FSN Premium subscribers and FSN Elite members can access the full-length interview plus many, many more in the Field Service New Digital Symposium. If you have an FSN Premium account you can access the video on the button below. If you are currently on our FSN Standard subscription tier you can upgrade your subscription by clicking the link below.
If you are yet to subscribe you can join 30,0000 of your field service management peers by subscribing to FSN Standard for free to gain access to a monthly selection of premium content or select either FSN Premium or FSN Elite for even more resources. Click the button above to visit our subscription page to find out more.
Further Reading:
- Read more about Servitization & Advanced Services @ www.fieldservicenews.com/servitization
- Read more about the impact of COVID-19 in the Field Service industry @ www.fieldservicenews.com/covid-19
- Read exclusive articles by Aly Pinder on Field Service News @ www.fieldservicenews.com/aly+pinder
- Follow Aly Pinder on Twitter @ twitter.com/Pinderjr
- Connect with Aly Pinder on LinkedIn @ linkedin.com/in/aly-pinder-jr
Are Organisations at Risk of Taking Shortcuts to Adapt to the Rapid Changes Brought by the Pandemic?
Aug 03, 2021 • Features • Aly Pinder • Covid-19 • Servitization and Advanced Services • GLOBAL
Kris Oldland, Editor-in-Chief, Field Service News is joined on the Field Service News Digital Symposium by Aly Pinder Jr, Program Director of Service Innovation and Connected Products at IDC. Aly is a seasoned expert in the field service industry,...
Kris Oldland, Editor-in-Chief, Field Service News is joined on the Field Service News Digital Symposium by Aly Pinder Jr, Program Director of Service Innovation and Connected Products at IDC. Aly is a seasoned expert in the field service industry, technology and innovation and he always thinks forward and spots the upcoming trends in the industry.
During the conversation, the two discuss a wide range of topics related to the evolution of service, the rapid changes and challenges that occurred during the last year and what organisations should do to adapt and prepare for the future.
In this final excerpt from that full interview, the two discuss the risk for field service organisations of taking shortcuts and making the wrong decisions to adapt of the changes that happened so fast during the last year.
Want to know more?
FSN Premium subscribers and FSN Elite members can access the full-length interview plus many, many more in the Field Service New Digital Symposium. If you have an FSN Premium account you can access the video on the button below. If you are currently on our FSN Standard subscription tier you can upgrade your subscription by clicking the link below.
If you are yet to subscribe you can join 30,0000 of your field service management peers by subscribing to FSN Standard for free to gain access to a monthly selection of premium content or select either FSN Premium or FSN Elite for even more resources. Click the button above to visit our subscription page to find out more.
Further Reading:
- Read more about Servitization & Advanced Services @ www.fieldservicenews.com/servitization
- Read more about the impact of COVID-19 in the Field Service industry @ www.fieldservicenews.com/covid-19
- Read exclusive articles by Aly Pinder on Field Service News @ www.fieldservicenews.com/aly+pinder
- Follow Aly Pinder on Twitter @ twitter.com/Pinderjr
- Connect with Aly Pinder on LinkedIn @ linkedin.com/in/aly-pinder-jr
Aug 02, 2021 • Hardware • News • rugged tablet • durabook • GLOBAL
Durabook, the global rugged mobile solutions brand owned by Twinhead International Corporation, introduced its enhanced U11I rugged tablet, a 2-in-1 rugged computing solution with the addition of a fast release detachable keyboard.
Durabook, the global rugged mobile solutions brand owned by Twinhead International Corporation, introduced its enhanced U11I rugged tablet, a 2-in-1 rugged computing solution with the addition of a fast release detachable keyboard.
The device has been designed to increase productivity and add flexibility to workers requiring both laptop and tablet form factors as they switch between the office and the field.
The detachable keyboard is one of the first to be designed and tested to MIL-STD 810H shock and vibration and IP65 ingress specifications. The U11I detachable keyboard comes with up to three USB 3.2 Gen 1 interfaces, optional one HDMI port, or one LAN port (USB Type-A connector) for maximum flexibility in the office and the field.
“When flexibility is a key aspect in a worker’s job, our new Durabook U11I 2-in-1 solution is the perfect device for keeping pace with changing working conditions,” stated Twinhead CEO Fred Kao. “Whether a laptop with full keyboard and complete connectivity is needed or a tablet for increased mobility is called for, our value-driven, U11I 2-in-1 11.6” fully-rugged tablet solution provides the versatility and functionality needed.
One tablet, customisable for diverse applications
Flexibility is a key factor in the modern workforce’s choice of technology. Used as a laptop, the U11I increases field productivity by adding an IP65 rated full-size 88-key membrane keyboard with a sturdy handle for convenient carrying. It offers three-level brightness backlit keys for easy input of reports and big data files as well as complete connectivity. Used as a tablet, it brings together user-friendly interfaces for varying conditions, such as a touchscreen that can be used while wearing gloves, in the rain, or in bright daylight conditions. The hot-swappable battery enables workers to operate uninterrupted when charging isn’t an option.
The new Durabook U11I 2-in-1 can be customised to meet the needs of a range of industries including field services, utility, oil and gas, transportation, logistics, field services, manufacturing, public safety, automotive and more.
The rugged tablet meets worker requirements
The Durabook U11I tablet features an Intel® 10th Generation CPU, Windows® 10 Pro, up to 16GB of RAM, quick-release SSD, DOD-level security, and a Full HD sunlight-readable touchscreen display. Designed for workers who face the most challenging operating environments, the tablet is MIL-STD-810G certified for six feet drop, shock, vibration, rain, dust, sand, humidity, freeze/thaw, operating temperature range (- 4°F to 140°F), explosive atmosphere, and temperature shock.
The U11I meets MIL-STD-461G for electromagnetic interference and ANSI 12.12.01 Class 1, division 2 hazardous locations. It has an IP65 rating. The 11.6” FHD (1920 x 1080) LCD features a 10-point capacitive multi-touch panel and multiple system I/O ports.
AVAILABILITY
The new Durabook U11I fully-rugged tablet with a detachable keyboard starts at £1,829. For more details, visit https://www.durabook.com/en/products/u11i-tablet/. For sales inquiries, please contact sales@durabook.com.
The Durabook Reseller Programme
Are you interested in becoming a Durabook reseller? There are programmes to choose from to meet your company’s needs. Visit Become an Authorised DURABOOK Partner Today for more details.
For more information visit Durabook @ https://www.durabook.com/en/products/u11i-tablet/
Jul 28, 2021 • News • Service Management • Mize • Leadership and Strategy • GLOBAL • Gary Napotnik
In this new article, Gary Napotnik, Chief Marketing Officer at Mize, discusses what is service lifecycle management and how it can improve customer experiences and revenues.
In this new article, Gary Napotnik, Chief Marketing Officer at Mize, discusses what is service lifecycle management and how it can improve customer experiences and revenues.
Aftermarket has taken a backseat to other company-wide digitization initiatives for durable goods manufacturers for far too long. While we collectively recognize the value of post-sale revenue, it has been difficult—and nearly impossible—to align the people, processes, and technology required to optimize the approach.
Razor-thin margins on the products we sell are driving a sea of change among executives in the industry who now recognize that their ability to deliver post-sale services will make or break their businesses. Fortunately, the emergence of Service Lifecycle Management (SLM) is making it easier for these durable goods manufacturers to provide a seamless experience across every customer touchpoint in the service lifecycle.
WHAT IS SERVICE LIFECYCLE MANAGEMENT?
Service Lifecycle Management is a practice that connects customers, channel partners, OEMs, and suppliers. It supports post-sale service processes, including product registration, warranty, service contracts, parts, support, knowledge, and service. When Service Lifecycle Management is done right, it differentiates your offering and delivers unrivaled value to customers.
"Manufacturers are beginning to look to the service operation to not only cut costs but drive at differentiation," said Aly Pinder, program director, Service Innovation and Connected Products Strategies, IDC Manufacturing Insights. "In a market where margins are tight, the ability to deliver efficient and enhanced service experiences will help differentiate manufacturers and wow customers."
SERVICE LIFECYCLE MANAGEMENT EMPOWERS GROWTH -MINDED EXECUTIVES TO INCREASE POST-SALE REVENUE
Durable goods manufacturers are focused on growth this year as we emerge from the pandemic and refocus on revenue growth instead of business continuity. According to the Service Council's 2021 Service Leader's Agenda report, over 40% of executives and managers focus their efforts this year on CX initiatives and service innovation.
To achieve their aggressive growth goals and maximize customer lifetime value, leaders leverage a Service Lifecycle Management approach to connect and align stakeholders across the value chain. This includes functional areas of post-sale services that can be easily disconnected and mired in complexity, including:
- Warranty Management: Reduce warranty expenditures, improve product quality, and enhance the customer experience with a streamlined warranty system (including registration, warranty claims, plans, and returns inspection) that allows all stakeholders to collaborate.
- Field Service Management: Increase first-time fix rates, improve technician productivity, and enhance product uptime by delivering the right resources, knowledge, and parts at the point of service.
- Service Parts Management: Increase parts sales, reduce parts identification errors, and optimize parts inventory while ensuring the right parts are available to fulfill service jobs.
- Knowledge Management: Improve point-of-service knowledge access to empower technicians to diagnose repair problems accurately, increase first-time fix rates, and improve efficiency.
- Depot Repair: Fix inefficient processes at centralized repair depots to improve profitability and customer satisfaction through reduced downtime, increased technician productivity, and lower parts inventory costs.
- Additional Solutions Supporting SLM include Service Contracts Management, Remote Asset Monitoring, Support Management, Supplier Warranty Management, and Remanufacturing Management.
Register for the free event on the Field Service Medical Virtual Event page.
THE FLEXIBILITY TO CHOOSE A STARTING POINT AND GROW
The traditional challenge of post-sale service has often boiled down to the inability to find a solution that offers the right fit. Custom-built applications are difficult to build and costly to maintain. Using an existing CRM or ERP solution can help bridge the gap but quickly becomes unwieldy since they’re not purpose-built for SLM. Other SLM solutions in the marketplace require leaders to implement an approach that doesn't match the scale of their current needs.
With Mize, durable goods manufacturers have found a solution that grows with them and meets them where they are. You may need Warranty Management immediately or in a year. Another part of your organization may require Knowledge Management for their field service teams to improve first-time fix rates. The Mize platform grows with you through modules called Smart Blox that meet evolving needs.
SERVICE LIFECYCLE MANAGEMENT BY THE NUMBERS
With Mize, durable goods manufacturers have achieved:
- A 67% increase in aftermarket lifetime value
- 30%+ profit margin with revenues from service contracts, service parts, and aftermarket services and products
- 15% lower costs by optimizing service delivery
- 5x profit margins by increasing customer retention and repeat sales
Service Lifecycle Management can truly be the differentiator that elevates and expands your revenue stream beyond the sale in a hyper-competitive market.
Further Reading:
- Read more about Leadership & Strategy @ www.fieldservicenews.com/leadership-and-strategy
- Find out more about Mize @ www.m-ize.com
- Learn more about Mize on Field Service News @ www.fieldservicenews.com/blog/all-about-mize
- Read more on Mize's blog @ www.m-ize.com/blog
- Follow Mize on Twitter @ twitter.com/mizecom
- Connect with Gary Napotnik on LinkedIn @ www.linkedin.com/in/garynapotnik
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