There is no denying that the world has moved towards a paradigm where digitalization and automation have become ubiquitous in every walk of life. Field service management is not an exception to this narrative.
Field service management has already changed the way organizations operate. In addition, it is expected to provide additional value to businesses in the coming years.
The field service management market is forecast to grow at a CAGR of 11%. At this rate, the FSM market that has an estimated value of $3 billion in 2020 will reach $5.1 billion by 2025.
There are many changes in the field service management industry, so you need to be aware of the latest technologies and techniques to stay ahead. Below you will find some of the top trends to help you strategize business growth through effective field service management.
A greater focus on predictive maintenance
Predictive maintenance is the proactive approach of maintenance services to increase equipment and process reliability. It is not merely restricted to field service but also applicable in the general production area as well. Predictive maintenance has gained high relevance due to end-user demands for increased reliability and reduced disruption.
Predictive maintenance trend in field service management is here to stay. The shift from reactive to predictive maintenance is mainly driven by the demands for lower-cost operations, reduced time to repair and maintain equipment, and improved equipment availability. As a result, most companies that have implemented the trend see how they can reduce operational costs by about 40% while driving up performance.
Adoption of AI-driven flexible data models
Making decisions with limited contextual information is, at best inefficient and, at worst, dangerous. A key reason behind this is a lack of data adaptability with traditional data analytics. As an end-user, you are forced to navigate through multiple screens to find the required information. Also, most real-time applications fail to scale due to inflexible data models that limit flexible user access and non-contextual data retrieval.
In today’s rapidly changing business environment, the need for data analytics has become even more pressing. The volumes of real-time data continuously produced by field service operations are growing tremendously, making it impossible to consume and analyze all the generated data manually. Without having the right tools in place, an enterprise will suffer from ‘information overflow.’ The scenario dictates that adopting new technologies and management practices for flexible data model consumption has become a matter of urgency.
Dependence on enterprise mobile apps
Rooted in the performance management industry, mobile enterprise apps are becoming more prominent. As field service businesses strive to become customer-centric organizations, they need to adopt various technologies and approaches to meet increasing customer demands and better manage their business processes.
The field service industry is just starting to evolve its service delivery operations using digital apps. It has changed the way technicians and customers interact. Not every company is prepared to incorporate mobile app functions within their field service management software. Those who do will have a definite advantage. They’ll be able to accurately track and record work orders or fix problems in the field, as well as handle simple report generation tasks from a smartphone.
Ease of communication through personalized digital assistants
In field service management, digital assistants will be the next big thing. Digital assistants refer to artificially intelligent systems that can communicate with customers and respond to their inquiries rapidly. They will replace current automated customer support systems using simple chatbots and add greater functionality to users.
As business processes become more digital and customer-centric, integrating intelligent bots into service processes drastically improves the overall experience. Thus, service management companies can take customer complaints, bugs, and issues and bring them back to life in an automated process.
Higher expectations for Customer-centric self-service portals
Customer-service portals have become a vital tool in the field services industry to streamline the process of gathering and managing service requests from customers. These solutions, designed to help businesses collect requests quickly and effectively, can be installed across multiple channels, making them ideal for today’s consumers who prefer self-service whenever possible.
By the end of 2021, these portals will become the critical tool for in-field service management. It enables the service company to establish a direct dialogue with the customer, improve customer satisfaction, and help the company shorten its sales cycle.
Steady growth in the gig economy
The gig economy is in full swing in today’s marketplace. It will continue to impact business as the growing contract workforce allows for cost-effective and profitable solutions. For example, field technicians can provide efficient services in field service management while traveling to client sites for specific work activities.
This year, if you’re considering or already have an independent field service technician, then it equates to having a new employee on your team. It can be tremendously valuable yet relatively easy to make mistakes due to the lack of direction when hiring one. Therefore, enlisting some guidelines from someone who has experience and understands how to develop digital tactics for the gig economy will serve as a great starting point for your business.
Given the tech-forward transformation that has already started, it’s only a matter of time before these practices become mainstream and define field service operations. As a result, businesses must gain a competitive edge in this era, and technology is the best way to do so.
The above-stated trends imply that field service management is going to be a smart goal for small-scale and medium-scale businesses in very little time. And not only that, but it will enable new skills for technicians and help their businesses become more efficient.
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