You may think that your one investment in technology, 10 years ago, will sustain your business and its growth for years to come, that outdated technology saves you money and since your employees have experience with it, saves you time. In reality, the facts remain that it is detrimental to your business in terms of profitability, productivity, efficiency and customer satisfaction if you don’t invest in the right technology, at the right time.
Field Service Management Technology is constantly changing and evolving to satisfy the needs of customers, with industry growth reaching $5.9 billion by 2024, but if your business isn’t leveraging the updates and flowing with the digital transformation then you’re likely to be left behind. For example, statistics show that businesses averaging 100 invoices monthly could save 3.5 hours if they automated their invoicing process. Here are some of the ways outdated software can hurt your Field Service company’s profitability and efficiency.
Decreased Productivity
Your field service technicians need technology to provide the best customer service. When out in the field, it is important that they have accurate customer information, details on quoting, inventory and asset knowledge and a way to communicate clearly and efficiently with each other and the office. Without the right technology, this is near impossible and when this technology is easily available in the market, your business may fall short. Miscommunication and misinformation force them to spend more time making decisions and taking longer on each task, taking valuable time away from an opportunity to increase revenue.
Poor customer service
Having outdated technology that affects your internal processes negatively impacts efficiency. However, customers are also affected depending on how long a technician takes to find information or if they have to call the office back and forth for a quote. When technicians are equipped with the right tools and technology, they can focus on providing the best customer service in a timely manner and possibly finding opportunities for an upsell. Customers expect the best and as they have plenty of options to choose from they won’t hesitate to switch to a competitor.
Demotivated Employees
If technicians have to constantly find ways to fix the problems of outdated technology, they are likely to be frustrated. When they experience the frustrations of being out on the field and not having the right equipment, means of communication or accurate customer information, it is undoubtedly going to affect their performance and customer service. This frustration may convert into a lack of job satisfaction and may lead to high employee turnover. Your business may lose more, recruiting new employees time and again whereas an investment in technology that allows employees to be productive will retain the best talent while increasing revenue.
Profitability
Field Service Management technology has the capability to boost your revenue with its various functionalities. Not investing in this technology means missing out on automatic, error-free invoicing that technicians can complete while on the field, onsite signatures that allow technicians to speed up the payment process, asset and inventory management that tells you what and how many tools technicians need to get the job done. With administrative tasks taking less than half the time it would, your business can use its resources where it’s needed most.
It’s not enough to have just any technology when it comes to field service management. Without the right technology, that suits the needs of your customers, your business may merely be surviving. ServiceEcho’s technology allows your technicians to increase their productivity and efficiency, boosting your customer service and revenue as well as profitability. To learn more about what ServiceEcho can do for you, book a demo today.