Strategy

Service Metrics That Impact the Bottom Line

Traditionally, the service organization has been viewed as a cost center, hampered by siloed data and manual processes that don’t provide true visibility into its performance and the impact on profitability.

Modern senior finance and operational leaders are transforming service models by digitizing and automating field service to improve efficiency. However, it’s not enough to simply reduce manual processes. Without the right data analytics, systems, and processes in place to track service performance, little can be done to improve what is not measured.

This eBook focuses on how finance executives can, in collaboration with their counterparts in operations, determine the appropriate metrics to track as they look to increase efficiencies, drive profitability, and deliver a superior customer service experience. The goal is a new service model and a more profitable field service business. Issues covered in this eBook include:

  • CFOs can lead the charge to productivity and efficiency through automation, ensuring improvements in key performance metrics such as technician productivity and service costs.
  • It is critical to reduce the time it takes to repair equipment and increase first-time fix rates, among other customer experience measures. Unhappy customers do not renew their service contracts or refer new business.
  • Tracking metrics such as parts recovery and machine uptime are critical to reducing downtime and seamlessly performing routine maintenance during off hours. The Internet of Things (IoT) is proving valuable in gathering data about machine usage that enables service organizations to be strategic and predictive about maintenance tasks, rather than simply following a recommended schedule for replacing parts.
  • Safety and compliance are key concerns of senior finance executives, who are often the risk managers for their organizations. Field service automation provides insights into compliance issues, including service history audits, required process steps, checklists, electronic signatures, and service plans for inspections and maintenance.

Download now to learn more.